Posts Categorized: Government Programs

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Using FHA 203k Loans To Rehab Your Short Sale or Foreclosure

There are a few common ways that I have seen an FHA 203k loan used.  Predominantly the clients I’ve worked with use this type of loan to purchase a property that either needs some general rehabbing throughout or to finish a job that was left incomplete for one reason or the other.  As rehab loans… Read more

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HAFA: Great For Banks – What About Consumers?

On June first of this year Fannie Mae and Freddie Mac released guidelines that propose to govern the short sale process flow for loans that are owned by either of these two institutions. The recent Home Affordable Mortgage Alternatives Program (HAFA) guidelines for GSE mortgages (mortgages held by Fannie or Freddie) do display marginal improvements… Read more

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Will Short Sales Become Short?

Seriously though, the government has again ramped up their efforts to help the millions of Americans who are upside down in their mortgage and need to sell for reasons of financial hardship.  Yet another acronym lurks…HAFA which stands for Home Affordable Foreclosure Alternatives Program goes into effect April 5, 2010.  HAFA is designed to simplify and streamline the short… Read more

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Home Buyer Tax Credit Extended And Expanded

President Obama signed a revised home buyer tax credit into law today. Before I get too far into this, let me clarify that we are in the business of helping people buy and sell homes and this tax credit is definitely good for our clients today – maybe not tomorrow, but at least for today…. Read more

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New FHA Condo Approval Rules Delayed Yet Again

First it was going to be October 1, then November 2. That’s when new FHA condo approval rules were going to be implemented. Now it’s December 7. I know it’s shocking but the government just can’t seem to get their act together – in this one rare instance. One of the more significant items we’ve… Read more