The simple answer to that question is YES! HUD drafted a 67 page contingency plan in the event of a government shutdown. The HUD 2013 Contingency Plan Draft 9/25/2013 states the Office of Single Family Housing will:
Reader question: What can we do during the waiting period?
September 26, 2013 by 4 Comments
If you’ve had a bankruptcy, short sale or foreclosure, there is a waiting period that must take place before you can start the mortgage process. Wait periods vary depending on the type of derogatory event and the mortgage program. This reader’s excellent question is from an article I recently wrote about FHA’s “Back to Work” program.
We will reach our 1 year mark on January 30. Can we do anything before then to get the process started or do we have to wait until January 31?
One month left before FHA mortgage insurance is permanent…SO WHAT??
May 1, 2013 by Leave a Comment
Borrowers not wanting to have FHA mortgage insurance as part of their mortgage payment for the life of the loan have about thirty days to take action. This shouldn’t be a reason to panic. 🙂
Effective FHA case numbers issued June 3, 2013 and later, FHA mortgage insurance will become a permanent part of the FHA mortgage payment.
Why do I say “SO WHAT?”
Buying a Duplex to live in with an FHA mortgage
April 26, 2013 by 4 Comments
One of my favorite blogs to follow, Get Rich Slowly, recently published Reader Stories: I bought a duplex to save money on rent. The author of the post describes how he used an FHA mortgage to buy a duplex and with renting out the unit he was not living in, he wound up paying less for his housing than when he was renting.
Why you should compare FHA to a Home Advantage Mortgage
April 24, 2013 by 2 Comments
If your credit scores are 680 or higher and you’re considering buying a home located anywhere in Washington state using FHA for your mortgage, you may want to consider the Home Advantage Mortgage program.
Home Advantage is a mortgage program created by the Washington State Housing Finance Commission. Only Loan Officers, like yours truly, who have completed WSHFC training are allowed to offer this program.
Home Advantage Mortgage with Down Payment Assistance
April 11, 2013 by 4 Comments
Home Advantage is a program that is offered through the Washington State Housing Finance Commission. Home Advantage is typically combined with a Home Advantage second mortgage that can finance closing cost and the down payment. Unlike the House Key program (state bond), this program has unlimited funds available for qualified Washington home buyers.
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