Underwater homeowners without FHA loans will have a new refinancing option starting in September of this year courtesy of that organization. The FHA is going to offer qualified borrowers who are underwater but current on their mortgages the opportunity to qualify for an FHA-insured mortgage – if the borrowers can convince their current lender to write off at least 10 Read full article »
Tag archives for Incentives
Last week, Timothy Geithner laid into mortgage servicers participating in HAMP during prepared comments before the Senate Subcommittee on Financial Services. “I want to be clear,” he said, “that we do not believe servicers are doing enough to help homeowners, not doing enough to help them navigate the difficult and often frightening process of avoiding foreclosures.” He then went on Read full article »
It’s one of the cardinal rules of short sale transactions: the homeowner cannot profit from the transaction. (Aside, of course, from the debt relief and the fact that they no longer are in a home that they cannot afford). Now, I’ve heard plenty of ways around this, such as buying items inside the home from the homeowner, but part of Read full article »
As one of the worst years in real estate history finally comes to a close, bargains are abundant, the government is offering unusual mortgage assistance and incentives, and investing in a home may begin to show real promise.