35 Burst results for "FHA"

The Guy Who Did Everything Wrong But Still Figured it Out with David Pere

BiggerPockets Money Podcast

09:24 min | 2 months ago

The Guy Who Did Everything Wrong But Still Figured it Out with David Pere

"Paret welcome to the bigger pockets. Money podcasts. I i talk to you today. Thanks for having me on the show. Mindy scott always a pleasure. Yeah we it's always a pleasure for scott and you're just for being on the show that was that was like a comma scott calm like always a pleasure for both of you. Okay okay probably a bad use of commas. I'm big fan of the comma. Anyway david paret is a career marine corps officer and heat. I learned about the term fire from our very own got trenched and brandon turner some schmuck who hosts another one of our podcast for bigger pockets and he learned about it in the most five way. Possible on a hike in hawaii. Why were you in hawaii david. I was stationed out there. Okay okay so. I was there for business business. Let's do some air quotes around that business although as ceo. I guess it's really convenient to go out to talk to brandon hop on clay instead of just hopping on zoom. Anyway david paret. Where does your journey with money. Begin first off for those listening. I have to correct you. I listed i am. I am not fancy and i actually say that with a badge of honor because i think that actually makes for anyone listening to this who's military that actually makes this way more Powerful because. I'm just an enlisted schmuck. So everyone thank you for correcting me. Please germany correct me. I really wanna try learning all of this military suffered. I'm just wrong all the time so sorry about that. Are you an enlisted officer or just Just an enlisted marine. He's an enlisted marine. Okay now tell us your money story. Are you on board with us using the term semper fi to describe your journey absolutely. That's an accurate statement or disrespectful to the phrase semper fi. No no it's motto. It means always faithful. So oh okay. Tell somebody already david. My money story starts off in all those same places that most service members do terrible right. I joined the marine corps in two thousand and eight. I had super frugal parents. Who did all the right things. Even to envelope budgeting. They taught me all the things you're supposed to do. Bought the off brand stuff to save money. And then i joined the marine corps. It was my first real salary. I went to japan. And i was like. Oh my god. I got money and i blew it on everything i went to a on even went on a deployment tax exempt pay. I came home with seventeen thousand dollars. And i bought a truck a rifles and tattoos a bunch of alcohol and probably took some people out on dates and have nothing to show for any of so. I did Terrible things you know by the time i was. I would have been two thousand thirteen to fourteen. When i i mean i probably had an a negative net worth and somebody handed me the book. Rich dad poor dad because they were trying to get me into Amway ride in helped me sell stuff on the side. And i remember telling the guy like no joke i was just like i don't read like you know like i'm a marine. We don't read books which is not entirely true but And he pulled a cd like out of his pocket and was like wow. I've got a cd. And i know you drive a lot on recruiting duty. So plug this in. And listen to it and i listened to it originally with the intent of like well. He called my bluff final. I'll listen to the stupid book. And then within three months. I had bought a duplex and things just started. Roll like i. I listened to that book i like. Oh wow this is cool. I downloaded audible. Listen to a couple other purple library books and then i was googling. Every time i didn't understand they just go to google. And then i stumbled upon bigger pockets and then the book on rental property investing in the book on no and low money down and then like right in the same timeframe someone got really drunk and parked on top of my harley and so they totalled my harley but they didn't want to he owned a car dealership so he didn't want he didn't wanted on insurance so he just paid me cash and then i took it to the viewership and they paid me for it and so i basically got the original price. I'd put into this bike at the same time. Like looking for a duplex and use an fha loan bought a duplex lived in one half rented the other half and then things just kind of scaled from there. So at this point. You're sitting there. And you're just becoming aware of wealth-building concept in general and it doesn't two thousand fourteen. You have basically no wealthier debt at all at that point. Yes so i guess. By the time. I read this book. It was actually probably october of two thousand fifteen. I had a little bit of debt. I mean maybe maybe a few thousand in credit card debt in an auto loan. But i didn't have. I probably didn't have a thousand dollars in the checking account so i only had you know i probably only had like a negative three or four thousand five thousand dollars net worth so. It wasn't like terrible but it was definitely nothing to show for it at all. But you were contributing to your tsp right a little bit. I had done the minimum like eight to ten percent. But what i had done. And this is the There's there's different funds right. When i first joined your money went into the fund which is government backed securities which is in perspective. I've been putting eight to ten percent. Mit because someone told me to. But between two thousand eight and two thousand fifteen. I left it in a fund that essentially earned two. Maybe three percent interest never lost money but it earned two percent interest while the rest of the stock market was earning twenty thirty percent returns coming out of the two thousand and eight recession and i just ate it so i could have way more money in their if i just know where to put it or what more money in. So it wasn't until two thousand fifteen that i really cranked up and started putting twenty thirty Last year sixty percent at one point in my in my thrift savings plan. Okay so this was not a meaningful part of your position at the time when this all started right now i probably had five grand. Dsp ray how much cash did you have at the time as well. If i hadn't totalled my or had my harley totaled basically none. I was pretty much living paycheck to paycheck. How does a harley jump. Start one's cash position. I i don't really. I don't have a perspective on. This is a motorcycle worth eight. Grand is it worth fifteen twenty. Twenty-five i i have no clue. No no no not that much. I probably got probably like eighty five hundred out of totaling. It wasn't super expensive harley and it was a few years old i've probably got about eighty five hundred but i was living missouri which is super affordable and then i was able to use the fha loans. I got into this house for like four grant. I think it was thirty. Eight hundred bucks. So you're stationed in missouri and you buy a duplex and can you walk us through kind of how the housing allowance and all that kind of stuff works for those who are not familiar with military benefits just so we can get a a total picture of your position at this. Starting point. pleasant fifteen yeah. I i think in springfield. My housing allowance was like eight hundred and fifty dollars a month and the housing allowances tax exempt. So it's you don't pay any taxes but actually counts as a little bit more As far as debt to income goes towards your lender. I think it's like one point two five times. Whatever your housing allowance cost when you go to buy. But at the time i was living in an apartment and there's like five fifty a month for a two bed one bath apartment and my lease was coming up on and do so. I was able to get into this place. I bought the duplex for eighty. One thousand my mortgage was six fifteen and there was attended one side for four seventy five Market rent was like five fifty. So i was like okay. Well this could. this could work nothing else. I'm going to be paying one hundred and whatever that math is one hundred forty dollars a month out of pocket for the mortgage as opposed to the five fifty. I was paying on rent. And i probably should've used the. Va loan on that but nobody knows anything about the va. Loan and the lender actually told me not to because he told me quote unquote you can only use it once which is wrong air so much confusion around the va loan. I hope that somebody someday we'll sit down with a really great lender and talk all about the. Va loan and if they have already it would be awesome to link to that in the show notes because the va loan is only applicable to who service members veterans Some federal employees but generally just service members and veterans. Okay so that's not necessarily all of our audience. But i think it's really important to note that you can use it more than once you can use it a lot more than once. You can use it as many times as you want. There's some stipulations there. Because you have to renew the eligibility and after two or three times it gets kind of kind of convoluted but you can the first time you can use it. There's no limit on it anymore. So you can go and buy. There's a guy. I don't wanna knock on wood right now. There's a guy under contract on a triplex for one point. Six million dollars in the bay area right now that we're we're helping and he's going to basically move into this thing zero down and he's high income earner out of the military veteran and in the medical field so he's got a good day but he's gonna pay zero down get like two and a quarter two and a half percent interest on this thing and his tenants are essentially going to pay the mortgage and then he's going to be on the hook for maintenance repairs.

David Paret Paret Mindy Scott Brandon Turner Marine Corps Hawaii Schmuck David FHA Brandon Amway Scott Germany Japan
From $33k in Debt to $100k+ in Net Worth Through House Hacking & Smart Saving with Budget Girl

BiggerPockets Money Podcast

06:46 min | 2 months ago

From $33k in Debt to $100k+ in Net Worth Through House Hacking & Smart Saving with Budget Girl

"Sarah. Welcome back to the show. I'm so excited to see you again. Thank you so much. I'm so thrilled to be here. Tell us what you've been up to the last three years. I believe in three years since i last spoke with you like on online. I've spoken to offline. Yes so last time i was on the show i had just paid off thirty three thousand dollars student loan debt on an average thirty thousand dollar income. I started at twenty six. And since then i have Saved a bunch of money and now have an over one hundred thousand dollar net worth and i am the owner of a duplex ashley. Hundred thousand air over here and if you haven't mentioned this earlier but if you haven't already go back and listen to episode six because it's just incredible i mean it's it's not the most debt we've heard paid off in the show but it's the most debt we've paid off her had seen paid off in the shortest amount of time relative to the income level that you had it's truly remarkable impressive feat and no surprises that you're becoming wealthy a few years later with the after after achieving that thank you it is. It's a lot more fun to build up the wealthy to pay off the debt. I'll tell you that and a lot faster too. That's really fun. Just grow compound. Interest is working for you or against you. Can you tell us a little bit about Just to catch up on the money story before we get into the review. You come a little bit of catch-up on the duplex potentially or any other highlights of the journey of the last three years. Yes so The duplex purchase. I actually have only had for ten months. So i bought it right when the pandemic started my i was wrenching and i was saving up for a property. 'cause i knew i wanted to do multifamily and i found the perfect place after shopping for a year. Right is the world went to hell so it came to the at a very good time because my rental apartment was actually going to increase three hundred dollars a month and so i started really seriously thinking like if i find the deal that where the numbers work. Let's go ahead and do this. So it was a two hundred thirty thousand dollar property in college station texas and it has three bedroom two bath on each side little backyard little three parking spots freeze unit very cute little things in a little subdivision near the campus texas a and m university campus in the direction that the campus is growing. So i very much anticipate that that will increase in value. And it already has. It's actually already to fifty after ten months. 'cause i just replied oh right i would point out that somebody else on this call also purchased in the path of progress and that would be scott not me because we have different investment styles but that is a really great thing that i think some people don't realize or take into account if the path of progress is going north. You did to be looking north. Because those are where the properties are going to appreciate at a faster rate than the potential path of progress than outside the potential path progress that nothing's guaranteed scott. Had a really great way to choose his property to and it was smack in the path of progress yeah parallel also my properties with two hundred and forty thousand dollars a very similar type of deal for us and even our cabinets are the same assault on instagram. Yeah the same exact cabinets that by my head but let me ask you. This is your property located what he said a path of progress in the best area. You could be living in right now if you were to purchase anywhere in the In a thirty mile radius not even close. But it's also not in the worst it's kind of a medium area. There's some older homes nearby and there's also a they just built like a walmart and a shopping center there and but more importantly texas owns so much of the surrounding area and they keep building in that direction. And i mean the university plans are on the website for free. You can go look at them and that like they're planning on growing in that direction so i could be just like a spit from one of their like giant new enormous buildings and a couple of years. Awesome in my understanding. Is your house hacking this. Yes so i am renting outside a i. Actually originally i inherited a hud tenant who is paying ten fifty a month. Her lease ended at the end of february. I m doing some fix ups on the project this month in march and i have a new tenant moving in april at twelve fifty a month also and i understand that you're crowd sourcing feedback on your remodel on instagram. So you can follow her at go budget girl and she really wants more opinions on how what color. She should paint the kitchen cabinets. A second. is that right. Oh definitely and the other parts of the house hacking of course is i actually so i have renters on a i live in but my boyfriend also lives with me and i charged him five hundred dollars a month in rent because nobody sugar mama i was. I was gonna say how did that him. That's still a good deal right. That's less than the other half the other side so like it's a three bedroom unit so we have an office and we share a bedroom. He has a lease that i worked for him. And we've both side with you know contingencies for things. It might happen. He didn't have a deposit he doesn't have pet rent and he essentially gets way more space than he would anywhere else in town for that price and due to that he's helping me with the a unit right now. He was mopping yesterday. While i was at work all right perfect it works out. But i'm glad there's the conversation and what's your mortgage payment on this It was originally just under seventeen hundred dollars a month. So i was paying one hundred fifty dollars a month out of pocket and but just reside and i was able to go down almost a whole point so my new mortgage is going to be fifteen sixty four so just under sixteen hundred so i'm going to be making one hundred dollars a month. That's fantastic. And so why did you refi. Generally it was it was it because of the Interest mostly or was there like pm. Is that you're able to shed or what were some of the things around that. Unfortunately i wasn't able to shed. Pm i quite yet. But i saw that interest rates were dropping. I was pleased with my rate. Got a three point six five right around the time that everything was going down and then it bumped up a little bit and i did. Fha loan so. I only put three point five percent down. Even though the property appraised for tenure. And more than i paid and even though it's now worth tango and more than that i'm still not quite to the level where i can shave off the pm. I but that's one hundred fifty dollars a month. And i find that to be worth it.

Texas Scott Ashley Sarah Instagram Walmart
Renters Rights And the Mortgage Forebearance extension

Clark Howard Show

06:16 min | 2 months ago

Renters Rights And the Mortgage Forebearance extension

"So we have had unprecedented moves over the last year to protect renters and borrowers from facing eviction for renters and foreclosure innovation for borrowers in mortgages and the clock had reached midnight on those programs and there are changes for both borrowers and renner's and there's been so much confusion about this. I want to talk about renters. So as a runner. You don't have automatic protection. You have rights that can prevent innovation but only if you exercise those rights. The rights only extend to people who can demonstrate the have suffered financial harm because of corona virus and. We really have been split as a country. They're tens of millions of people who've suffered extreme hardship with job and the rest and then san tens of millions others of others who actually are in better financial shape almost a year out from the onset of corona virus in the united states than they were before so it is a really story for renters. You have a form you have to fill out that we have a link to it. Clark dot com where you verify the economic hardship you've had you must go to your court dates if your landlord goes after you anyway and the courts are usually doing things by zoom or some other online means. But if you don't appear your landlord even in the midst of eviction moratorium will still be granted relief by the court and you will in fact be evicted. So it's up to you to do the paperwork. Proactively send the paperwork to your land or the landlord pretends to ignore it and files for dispossessed. Ry eviction on you. You must go through the process of protecting yourself in court and also make sure that you keep notes when you notified your landlord the form you provided them. You also provide to the court to assert your rights. The meek do not remain in their apartments. You must stand up for yourself. In the case of homeowners there are more protections because with renner's once the moratorium lifts which is likely this spring that will with at that point. You in theory. You're supposed to pay all your back rent now. That's not realistic right. If you've been unemployed or underemployed for a year but the landlords will be free at that point to move forward with an eviction before moratoriums lift in your financial situation does start to stabilize. I said when not if you want to approach her landlord and see if you can work out a payment plan with them to start working on the back rent otherwise all the eviction moratorium did was buy you time but you still facing ultimate eviction for people that are mortgage borrowers now. That process has split. People who have fha mortgages now have a better blanket of protections then people who have loans that are underwritten behind the curtain by fannie mae or freddie mac. Most people's loans are in fact underwritten by fannie mae or freddie mac the Foreclosure moratorium has been extended ninety more days. Four people with fannie. Mae freddie mac if you are in some kind of forbearance you get ninety days added to that if you need it beyond what was originally a maximum twelve months in the case of fha borrowers you now have protection till early summer till june thirty in order to then work out a new payment arrangement the fha because it is a direct federal agency loan the fha will have fairly standardized procedures. Matt point on what your workout will be how you will eventually make good on the money that you did not pay over the last year in the case of fannie mae and freddie mac there will be a number of different ways that lenders deal with you. They have some Latitude in how they work out. Payment plans with you. The likeliest course that will work for most people is the miss months or full year or so of mortgage payments will be added onto the back of your loan as an additional Months or year or a little more year loan that is for many people going to be the best arrangement but again you cannot be passive. You must be active here and you just don't stop paying and when the moratoriums over you just don't say okay. Everything's gonna be great. You're the one who's got to be active with your lender on coming up with a workout arrangement. What they do in commercial real estate all the time with commercial mortgages are workouts and you will be doing Work out of your mortgage where it works for you and the lender.

Renner Fannie Mae FHA Freddie Mac Confusion Mae Freddie Mac Clark United States Matt
Jumbo and FHA mortgage rates set record lows

South Florida's First News with Jimmy Cefalo

00:31 sec | 6 months ago

Jumbo and FHA mortgage rates set record lows

"On 806 and record low interest rates driving up mortgage refinance applications. Last week, Reef eyes were up 6% for the week and 88% higher than a year ago. Rates for F H a loans, jumbo loans and 15 year fixed rate mortgages all set record lows. Read for the most popular mortgage. The 30 year fixed rate was essentially unchanged at 3.1% Applications for loans to buy homes were down 1% last week, a 25% higher than this time last year. More

A Million Mortgage Borrowers Fall Through Safety Net

WSJ Your Money Briefing

07:33 min | 8 months ago

A Million Mortgage Borrowers Fall Through Safety Net

"Early on in the pandemic Congress set up a program to protect homeowners with mortgages from losing their homes. But about a million borrowers have fallen through the safety net missed payments and late fees or putting them at greater risk, and that's further heightening fears of an eviction and foreclosure crisis with more on why so many borrowers have fallen behind on their mortgages despite this relief program, we're joined by our reporter Andrew Ackerman Andrew. Thanks for joining us. Hi, Charlie. Thanks for having me Andrew. I, tell us how this program known as forbearance works. It's unique to this crisis forbearance in the past has been used very narrowly for hurricanes or very regional Zaslov this time it's being used to keep as many people nationally in their homes as possible who are harmed rather virus and it just means you can skip up to a year of payments on your mortgage. And then make them up later. Somehow there's a little bit of a complication because it it applies to all federally guaranteed loans which are most of the market Fannie Freddie or fha backed loans. There is a market for private loans or loans aren't backed by the federal government, and some of those lenders are offering forbearance and others aren't, but for most of the market people can get this. Okay. So when we talk about one million homeowners falling through the cracks, what exactly does that mean that means is that there are a million people who have for whatever reason stopped paying their mortgage their at least thirty days behind or delinquent, and they are not in a forbearance plan. This includes both borrowers with Fannie and Freddie loan as well as people who have a private loan alone from a portfolio loan with a bank or something you know securitise in the private markets will don't. They know about the forbearance program are they scared to participate what exactly is going on here? That's a good question and I think the data's kind of murky but the from talking to lenders, some consumers, some counselors, the picture that we have is that a lot of people don't understand what forbearance means so they don't. Really know what their options are. The other thing is that early on especially early on and still somewhat today the messaging from the lenders was you can take a forbearance, but you're GONNA have to pay all of your mis- payments in one lump sum at the end of the forbearance, and that's really scared people that the scripts that the mortgage companies go through with people on the phone have changed significantly and there's a lot more outreach and education efforts that some of the lenders are trying the consumer groups in some lenders. Say It doesn't go far enough. They'd like better marketing but those are the two factors. There's uncertainty or it's an unknown thing and there's this fear that people have to pay everything back at once and that's just not feasible for most people. Why don't you describe for us the process of trying to obtain forbearance how hard is it? It shouldn't be that hard. There's no documentation requirements. You Literally Call Your Service and you say you can't pay and you WANNA forbearance and they're supposed to the the law, the a rescue bill from March called Cares Act. It says that people are entitled to up to a year. It's says six months that can be renewed for another six months. You have to ask for it. A lot of the lenders have been offering customers short of six months at a time they've been doing three-month for. That can be extended another three months and then twice more beyond the initial six months. Just kind of depends on the lenders it's supposed to be really easy to get. It's still confusing even the we've talked to people who got the forbearance and they were also getting letters from their lender saying that they were at risk of foreclosure because they've missed all these payments and so you get these contradictory messages from your from your lender those lenders are saying hey. Just ignore these letters these contradictory letters we were required, send them by state or federal law, and just know that you've got a forbearance but we still talk to people who said that kept them up at night. Well, I was wondering, for instance, people were jumping through hoops trying to find information about forbearance on the telephone well that he has also been a significant issue if. You talk to counselors and some of the consumers we talked to they would say that I mean they describe this kind of bureaucratic nightmare to be honest everything has happened kind of quickly if you talk to the lenders, they say they're moving to kind of implement this forbearance plan on a scale that's never been envisioned for forbearance before. So they're hiring people to take calls their. End Result is at least initially, the times were significant. People were waiting a long time to get someone on the phone when they did get people on the phone calls might be dropped or they'd be sent to voicemail at the servicer and then they wouldn't hear back. So you have to kind of call the main number again, unfortunately, a lot of the servicers that the way. They're set up you can't just call one representative at the servicer. So you just of are dealing with somebody different every time they're following a script. So what they can say can be kind of very tightly controlled, and if it's with jargon people who aren't very skater even people who are sophisticated and don't know a lot about the mortgage market, you know it can be. It can be very confusing. These terms are not it's not intuitive. Are there a significant number of borrowers who've been in forbearance but of defaulted? Anyway that's the peculiar thing. There are significant numbers are what I would I think it's fair characterizes significant. There's about two hundred, fifty thousand people who were in forbearance at one point since the pandemic there now, no longer in forbearance and. They. are still past due on their loan and it begs the question. We don't know why that's the case. I haven't been able to find someone situated like that. But that's what the data shows and we we talked to people who had experience during the last crisis in two thousand eight and there were always people who just the lenders couldn't reach out to you know they. Knew, they were behind, they thought they were in trouble, and so they docked there servicer at every turn and it's speculative. But people think that that's that's this population kind of fits into that camp and so there are some efforts to reach out to those people. I would also say that two hundred fifty thousand is relatively small. There's fifty three million mortgages in this country Million people have been on forbearance at some point since the crisis started were down, it's under four million. Now, most of the people who've exited forbearance are either performing on their mortgage or they have paid off their loan. So it's an alarming number. It's relatively small and the whole universe and the whole mortgage universe. But there is also a concern that as people kinda hit the six month period who still need help that the number would increase because they won't know they actually have to request the extension, the additional six months. What are the next steps to watch for in this forbearance program? What's on the horizon forbearance figures overall spiked In April, May I believe June and they've steadily declined since the summer or late summer and what will be interesting to watch whether or not that trend continues or you see more people who need help, and probably if you see that, you'll see more people kind of falling through the cracks here where they don't know how to get help that sort of based on macroeconomic trends. Major companies are laying people off tens of thousands of people, and that's I think the Big Question Mark Wall Street Journal reporter Andrew, Ackerman. Thanks a lot Andrew. Hey. Thanks for your

Andrew Ackerman Andrew Reporter Federal Government Congress Charlie Fannie Freddie Fannie Freddie Representative FHA
Reverse Mortgage - burst 2

Reduce Debt Increase Wealth

02:57 min | 10 months ago

Reverse Mortgage - burst 2

"Hello Mr Chuck here this week. I'M GONNA talk about reverse mortgages I know have been saying that he cannot finance your retirement, but there is one option is not a very good one, and that's reverse mortgage, so we're GONNA go over. What is a reverse mortgage and whether or not you should do it or I don't even think he should put it in. Your retirement plans to even use it, so I'm going to start with an article. FROM BANK RATE DOT COM. Air Thing. You need to know about reverse mortgages by holly. Johnson. And under my new format on a read, what I think is important. Then make comments and then skip down, not gonna read the whole article. If you want to read the whole article, I have a Lincoln my show notes everything you need to know about reverse mortgages. Every verse, which is a type alone where the homeowner throws a portion of their equity, but don't have to repay the loan until they leave the house. One of the most popular types is a home equity conversion mortgage. H. E. Siham which is ensured by the US federal government of the widely available eight C. h. e. c. m. products are only offered by fha approved lenders reverse mortgages can be a solution for customers, age, sixty, two and older, who own homes, outright, or have a Lisa considerable amount of equity to draw from me, wondering why Anyway one borrow against a home when they worked hard to pay off. Why not remain you home in lived there debt? Debt free according to Steve Irwin Executive, vice president of the national reverse mortgage lenders association, nobody gets up in the morning and thinks about reverse mortgages, and whether they should get one and instead they think how they're gonNA pay for healthcare fixed a roof. Pay The property tax or have enough money to live the retirement. He says every Royce mortgage provide solutions to these issues and many others, so people can live more financially secure lives as they age. Okay well. That's some pretty good information right there, and if your strat if you're retired over age sixty two and you have a major event in your life such as you need new roof. Or healthcare issues, which is probably more likely. You can do a reverse mortgage. So what is I reverse mortgage?

Mr Chuck United States H. E. Siham Steve Irwin Johnson Lincoln Vice President Lisa Executive
Here’s what you need to know about paying your rent or mortgage

Dan Proft

05:09 min | 1 year ago

Here’s what you need to know about paying your rent or mortgage

"So we talked a lot about the P. P. P. over the last couple of days the payroll protection program trump suggesting yesterday that he once said two hundred fifty two or fifty billion dollars to that the loan forgiveness program for small businesses what about individuals who are wondering about how they're going to pay their mortgage as they're waiting for the disaster relief checks or for unemployment insurance benefits to kick in for a discussion about the mortgage business we're pleased to be joined by our friend David hopper vice president lending of team Hochberg and home side financial David thanks for joining us appreciate it thank you ram appreciate the opportunity so thinking about people in financial distress or certainly concerned about being in financial distress in the not too distant future depending on how things transpire what are some of the questions you're getting in the recommendations you're making to people yeah well again thanks a lot for the opportunity your listeners are gonna fall into fort Meade a mostly four categories one there you're gonna have a party mac clone they're either going to have Fannie Mae Freddie Mac and will throw three categories trying to be pretty back FHA or VA okay Fannie Mae Freddie Mac allow your listeners and the easiest way to find out guys is to just call the eight hundred number on your mortgage statement and call them up and ask them if you have a female Freddie Mac FHA loan if you have a VA loan you you most likely would not be a long serving in our military or our a surviving spouse what what cleaning may forty mac have have issued rules that their servicers can allow up to twelve months of forbearance here's the biggest challenge though a forbearance is when a borrower can differ mortgage payments without any late fees or down any hits on the credit the challenges it's up to the servicer the person that has your mortgage that you're writing your mortgage thank you to make that determination what they've said is spinning the forty mac and come out and said is if you call them and state that you're having economic hardship economic challenges due to corporate nineteen coronavirus they will put you into a forbearance without any issues here's a challenge with Randy for Fannie Freddie rules state that if they put you to a three month of forbearance for example if you call today you could defer your April may and June payment but come July what your listeners to allow listeners don't realize come July first when the to my mortgage payment is due they want the ninety days of deferred payments as well so that's a major challenge and I called up my servicer who is chasing set what happens if listeners borrowers can't make that hundred twenty days worth of payments obviously they're going to permit into forbearance because we've got challenges he's like well they have to call back again they're not gonna make it easy for you you have to call back and either ask for another forbearance for loan modification at that time but see anybody Freddie Mac rules clearly state in a recent letter that they sent out to all other other servicers that farmers can get up to twelve months worth of errands now on the FHA rules FAQ role is completely different and this is important for your listeners to understand if you have an FHA rule FHA wrote FHA will allow six to twelve months worth of forbearance so they'll give you six blocks at a time but again you have to call your servicer who is the company that you write your checks to and request forbearance now the difference between winning may Freddie Mac and FHA the FHA has stated after the twelve months worth of forbearance they will allow you to allow farmers to add a second loan with zero percent interest on the backs all the missed payment you made for the six or twelve months there will be a subordinate loan added at zero percent interest that no penalty to the borrower that will be paid off when you either refinance or sell your home the T. and there hasn't been any rules released yet for VA loans Ross I would I I would you'd you know share that with you listen it's a constantly moving thing right now and we're trying to stay ahead of it the best we can why are they offering forbearance for six to twelve months is that an indication about how long they think this may last sort of a hedge what will it be pretty macros of Fannie Mae and Freddie Mac is already have forty wrote written rules for their servicers to offer up to twelve months which means you know what they know okay that is it's going to be this is war I'm not trying to freak your listeners out but I I survived nine eleven I survived oh wait and I'm telling you right now eight we had what may be seven to eight hundred thousand people unemployed which was a huge hit to the economy you're you're talking twelve fifteen twenty times that number so what Fannie Mae Freddie Mac FHA are doing is trying to get ahead of it so you don't have bar were standing around the corner at the gymnasium is trying to do loan modifications like they did in a weight which is a complete

P. P.
FDA changes boost alcohol for sanitizer from ethanol makers

AP News Radio

00:36 sec | 1 year ago

FDA changes boost alcohol for sanitizer from ethanol makers

"With NFL the it's FBI's really April team owners hard first handling voted to find Tuesday upon of its to us surveillance it expand but there potentially are the playoffs bills program due by came there this one under could week team be scrutiny millions in each and conference millions after of for of Americans a gallons total the investigation of fourteen of who hand no longer next sanitizer into have season a ties job as coming between they for continue a online paycheck Russia to plan and for the two the made the thousand twenty Associated by twenty sixteen season ethanol Press to trump is begin compiled producers on campaign time some tips it's to the help first inspector the food playoff and general drug expansion the administration Michael first for the league Horowitz thing since to nineteen is do concluded is ninety allowing to reach F. B. out only ethanol I. and agents the notify teams made with had the best a made at facilities mortgage significant record in the lender AFC where fuel errors and student NFC and omissions ethanol loan will get servicer a bye is produced under in the applications new or format utility as to eavesdrop long the provider seven as it seed contains will on play that former the you no two need trump additional seed relief campaign additives the adviser and sixty see what or will Carter they visit chemicals offer page the three in the foreclosures fifth and seed a the broader companies will have be been at audit the fourth can suspended ensure followed seed for a wild for in water the FHA results card games purity suggest mortgages CBS the FBI and proper and NBC errors and those sanitation backed will pick were not up by the extra Fannie limited of their broadcast Mae equipment to or the on cable Russia Freddie and investigation Mac streaming the renewable platforms gas fuels electric it and the association found NFL problems will and have other a says separately in utility already each produced of the providers twenty about telecasts five twenty often facilities surveillance of the games have assistance applications tailored are programs for making a it younger reviewed audience for alcohol cobra that including will air for allows on Nickelodeon hand a lack laid sanitizer off of workers supporting I'm Josh to documentation Rowntree keep even health donating insurance for some factual although there to the is assertions state a large of Nebraska out of Ben pocket Thomas I'm expense Jackie Washington Quinn some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Josh Nickelodeon NBC FHA Horowitz Jackie Washington Quinn Thomas Nebraska Rowntree NFL MAC Freddie Fannie FBI CBS Carter Michael Russia
FDA changes boost alcohol for sanitizer from ethanol makers

AP News Radio

00:36 sec | 1 year ago

FDA changes boost alcohol for sanitizer from ethanol makers

"With NFL the it's FBI's really April team owners hard first handling voted to find Tuesday upon of its to us surveillance it expand but there potentially are the playoffs bills program due by came there this one under could week team be scrutiny millions in each and conference millions after of for of Americans a gallons total the investigation of fourteen of who hand no longer next sanitizer into have season a ties job as coming between they for continue a online paycheck Russia to plan and for the two the made the thousand twenty Associated by twenty sixteen season ethanol Press to trump is begin compiled producers on campaign time some tips it's to the help first inspector the food playoff and general drug expansion the administration Michael first for the league Horowitz thing since to nineteen is do concluded is ninety allowing to reach F. B. out only ethanol I. and agents the notify teams made with had the best a made at facilities mortgage significant record in the lender AFC where fuel errors and student NFC and omissions ethanol loan will get servicer a bye is produced under in the applications new or format utility as to eavesdrop long the provider seven as it seed contains will on play that former the you no two need trump additional seed relief campaign additives the adviser and sixty see what or will Carter they visit chemicals offer page the three in the foreclosures fifth and seed a the broader companies will have be been at audit the fourth can suspended ensure followed seed for a wild for in water the FHA results card games purity suggest mortgages CBS the FBI and proper and NBC errors and those sanitation backed will pick were not up by the extra Fannie limited of their broadcast Mae equipment to or the on cable Russia Freddie and investigation Mac streaming the renewable platforms gas fuels electric it and the association found NFL problems will and have other a says separately in utility already each produced of the providers twenty about telecasts five twenty often facilities surveillance of the games have assistance applications tailored are programs for making a it younger reviewed audience for alcohol cobra that including will air for allows on Nickelodeon hand a lack laid sanitizer off of workers supporting I'm Josh to documentation Rowntree keep even health donating insurance for some factual although there to the is assertions state a large of Nebraska out of Ben pocket Thomas I'm expense Jackie Washington Quinn some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Josh Nickelodeon NBC FHA Horowitz Jackie Washington Quinn Thomas Nebraska Rowntree NFL MAC Freddie Fannie FBI CBS Carter Michael Russia
Watchdog finds new problems with FBI wiretap applications

AP News Radio

00:36 sec | 1 year ago

Watchdog finds new problems with FBI wiretap applications

"With NFL the FBI's April team owners first handling voted Tuesday upon of its to us surveillance expand there are the playoffs bills program due by came this one under week team scrutiny in each and conference millions after for of Americans a total the investigation of fourteen who no longer next into have season a ties job as between they for continue a paycheck Russia to plan and for the two the the thousand twenty Associated twenty sixteen season Press to trump is begin compiled on campaign time some tips it's to the help first inspector playoff general expansion the Michael first for the league Horowitz thing since to nineteen do concluded is ninety to reach F. B. out only I. and agents the notify teams with had the best a made mortgage significant record in the lender AFC errors and student NFC and omissions loan will get servicer a bye under in the applications new or format utility to eavesdrop the provider seven seed will on play that former the you two need trump seed relief campaign the adviser and sixty see what will Carter they visit offer page the three in the foreclosures fifth seed a broader will have be been at audit the fourth suspended followed seed for a wild for in the FHA results card games suggest mortgages CBS the FBI and NBC errors and those backed will pick were not up by the extra Fannie limited broadcast Mae to or the on cable Russia Freddie and investigation Mac streaming platforms gas electric it and the found NFL problems will and have other a separately in utility each produced of the providers twenty telecasts five often surveillance of the games have assistance applications tailored programs for a it younger reviewed audience for cobra that including will air allows on Nickelodeon a lack laid off of workers supporting I'm Josh to documentation Rowntree keep health insurance for factual although there is assertions a large out of Ben pocket Thomas expense Washington some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Nickelodeon Fannie FHA Horowitz Jackie Quinn Washington Rowntree Josh NFL Freddie MAE NBC CBS Carter Michael Russia FBI
Watchdog finds new problems with FBI wiretap applications

AP News Radio

00:36 sec | 1 year ago

Watchdog finds new problems with FBI wiretap applications

"With NFL the FBI's April team owners first handling voted Tuesday upon of its to us surveillance expand there are the playoffs bills program due by came this one under week team scrutiny in each and conference millions after for of Americans a total the investigation of fourteen who no longer next into have season a ties job as between they for continue a paycheck Russia to plan and for the two the the thousand twenty Associated twenty sixteen season Press to trump is begin compiled on campaign time some tips it's to the help first inspector playoff general expansion the Michael first for the league Horowitz thing since to nineteen do concluded is ninety to reach F. B. out only I. and agents the notify teams with had the best a made mortgage significant record in the lender AFC errors and student NFC and omissions loan will get servicer a bye under in the applications new or format utility to eavesdrop the provider seven seed will on play that former the you two need trump seed relief campaign the adviser and sixty see what will Carter they visit offer page the three in the foreclosures fifth seed a broader will have be been at audit the fourth suspended followed seed for a wild for in the FHA results card games suggest mortgages CBS the FBI and NBC errors and those backed will pick were not up by the extra Fannie limited broadcast Mae to or the on cable Russia Freddie and investigation Mac streaming platforms gas electric it and the found NFL problems will and have other a separately in utility each produced of the providers twenty telecasts five often surveillance of the games have assistance applications tailored programs for a it younger reviewed audience for cobra that including will air allows on Nickelodeon a lack laid off of workers supporting I'm Josh to documentation Rowntree keep health insurance for factual although there is assertions a large out of Ben pocket Thomas expense Washington some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Nickelodeon Fannie FHA Horowitz Jackie Quinn Washington Rowntree Josh NFL Freddie MAE NBC CBS Carter Michael Russia FBI
Watchdog finds new problems with FBI wiretap applications

AP News Radio

00:36 sec | 1 year ago

Watchdog finds new problems with FBI wiretap applications

"With NFL the FBI's April team owners first handling voted Tuesday upon of its to us surveillance expand there are the playoffs bills program due by came this one under week team scrutiny in each and conference millions after for of Americans a total the investigation of fourteen who no longer next into have season a ties job as between they for continue a paycheck Russia to plan and for the two the the thousand twenty Associated twenty sixteen season Press to trump is begin compiled on campaign time some tips it's to the help first inspector playoff general expansion the Michael first for the league Horowitz thing since to nineteen do concluded is ninety to reach F. B. out only I. and agents the notify teams with had the best a made mortgage significant record in the lender AFC errors and student NFC and omissions loan will get servicer a bye under in the applications new or format utility to eavesdrop the provider seven seed will on play that former the you two need trump seed relief campaign the adviser and sixty see what will Carter they visit offer page the three in the foreclosures fifth seed a broader will have be been at audit the fourth suspended followed seed for a wild for in the FHA results card games suggest mortgages CBS the FBI and NBC errors and those backed will pick were not up by the extra Fannie limited broadcast Mae to or the on cable Russia Freddie and investigation Mac streaming platforms gas electric it and the found NFL problems will and have other a separately in utility each produced of the providers twenty telecasts five often surveillance of the games have assistance applications tailored programs for a it younger reviewed audience for cobra that including will air allows on Nickelodeon a lack laid off of workers supporting I'm Josh to documentation Rowntree keep health insurance for factual although there is assertions a large out of Ben pocket Thomas expense Washington some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Nickelodeon Fannie FHA Horowitz Jackie Quinn Washington Rowntree Josh NFL Freddie MAE NBC CBS Carter Michael Russia FBI
How paths might have changed under expanded NFL playoffs

AP News Radio

00:32 sec | 1 year ago

How paths might have changed under expanded NFL playoffs

"With NFL April team owners first voted Tuesday upon to us expand there are the playoffs bills due by this one week team in each and conference millions for of Americans a total of fourteen who no longer next have season a job as they for continue a paycheck to plan for the two the thousand Associated twenty season Press to is begin compiled on time some tips it's to the help first playoff expansion the first for the league thing since to nineteen do is ninety to reach out only and the notify teams with the best a mortgage record in the lender AFC and student NFC loan will get servicer a bye under the new or format utility the provider seven seed will play that the you two need seed relief the and sixty see what will they visit offer the three in the foreclosures fifth seed will have be been at the fourth suspended seed for a wild for FHA card games mortgages CBS and NBC and those backed will pick up by the extra Fannie broadcast Mae or on cable Freddie and Mac streaming platforms gas electric and the NFL will and have other a separately utility produced providers telecasts often of the games have assistance tailored programs for a younger audience for cobra that will air allows on Nickelodeon laid off workers I'm Josh to Rowntree keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

AFC CBS NBC MAE NFL Nickelodeon Josh Rowntree Jackie Quinn NFC Fannie
How paths might have changed under expanded NFL playoffs

AP News Radio

00:32 sec | 1 year ago

How paths might have changed under expanded NFL playoffs

"With NFL April team owners first voted Tuesday upon to us expand there are the playoffs bills due by this one week team in each and conference millions for of Americans a total of fourteen who no longer next have season a job as they for continue a paycheck to plan for the two the thousand Associated twenty season Press to is begin compiled on time some tips it's to the help first playoff expansion the first for the league thing since to nineteen do is ninety to reach out only and the notify teams with the best a mortgage record in the lender AFC and student NFC loan will get servicer a bye under the new or format utility the provider seven seed will play that the you two need seed relief the and sixty see what will they visit offer the three in the foreclosures fifth seed will have be been at the fourth suspended seed for a wild for FHA card games mortgages CBS and NBC and those backed will pick up by the extra Fannie broadcast Mae or on cable Freddie and Mac streaming platforms gas electric and the NFL will and have other a separately utility produced providers telecasts often of the games have assistance tailored programs for a younger audience for cobra that will air allows on Nickelodeon laid off workers I'm Josh to Rowntree keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

AFC CBS NBC MAE NFL Nickelodeon Josh Rowntree Jackie Quinn NFC Fannie
How paths might have changed under expanded NFL playoffs

AP News Radio

00:32 sec | 1 year ago

How paths might have changed under expanded NFL playoffs

"With NFL April team owners first voted Tuesday upon to us expand there are the playoffs bills due by this one week team in each and conference millions for of Americans a total of fourteen who no longer next have season a job as they for continue a paycheck to plan for the two the thousand Associated twenty season Press to is begin compiled on time some tips it's to the help first playoff expansion the first for the league thing since to nineteen do is ninety to reach out only and the notify teams with the best a mortgage record in the lender AFC and student NFC loan will get servicer a bye under the new or format utility the provider seven seed will play that the you two need seed relief the and sixty see what will they visit offer the three in the foreclosures fifth seed will have be been at the fourth suspended seed for a wild for FHA card games mortgages CBS and NBC and those backed will pick up by the extra Fannie broadcast Mae or on cable Freddie and Mac streaming platforms gas electric and the NFL will and have other a separately utility produced providers telecasts often of the games have assistance tailored programs for a younger audience for cobra that will air allows on Nickelodeon laid off workers I'm Josh to Rowntree keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

AFC CBS NBC MAE NFL Nickelodeon Josh Rowntree Jackie Quinn NFC Fannie
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 1 year ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 1 year ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 1 year ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
"fha" Discussed on KGO 810

KGO 810

02:15 min | 1 year ago

"fha" Discussed on KGO 810

"Point two five percent for thirty years FHA we talked about FHA loans in the past FHA loans we are actually able to help someone the other day and we lock them at two point eight seven five on a thirty year fixed rate mortgage that's for an FHA loan what's an FHA loan FHA loan is a government guaranteed loans whereby you can you can get away with only putting three percent down on a purchase price you still have to pay mortgage insurance but this is certainly a leverage play that I like if you're boring money at three percent me for I have a look at our portfolios in our capital preservation mode if you can average five percent beyond paying three percent you're getting a tax write off out of it that's that's that's almost that's what I would call found money that's the power of leverage well I want to carry as big a mortgage as possible I understand the emotional side of being able to have your home free and clear but when we're talking three piece three MLS our president is pushing out chairman Powell to lower rates if you're not if you haven't started thinking about this you should do it's it's March effectively tomorrow you're working on your taxes now is it more it might be a great time to start thinking about getting ready to get consider doing a policy review of a portfolio review in terms of what it is that you're paying on your mortgage there's finance he's getting so easy right now if you have a building in San Francisco you'll get a forty year fixed rate for the first ten years being interest only cash out up to sixty per sixty five percent borrow up to three million dollars at four and a quarter percent there it is you're giving money away right he he if any should be taken it if obviously if you pay your home off in you re leverage it you're not you you're not going to get a tax write off technically speaking but this is a great opportunity for.

FHA president chairman Powell San Francisco
"fha" Discussed on WMAL 630AM

WMAL 630AM

02:37 min | 1 year ago

"fha" Discussed on WMAL 630AM

"Saying that FHA revise our three year highs so for those just tuning into our show who haven't heard it before what is an FHA and why are people loving it well a lot has to do with the sweater I'm wearing trees if you got the CEO on on my end you know this beautiful grandpa's weather with the shawl collar over here you know people that enjoy any sweaters over the years and you know even on thirty six you would swear a much older but at the end the day one thing it's really it's kind of a catch us a little bit off guard is how many of you were saying yes the FHA no one has to do with so many millennials and you're in the market looking for the three and a half percent down a lot of people don't want to put a ton down nowadays there's a lot of families that thing house values are going to drop they don't want to be over committed with their assets by down payment they want to make sure that they get in get out they don't want to have a ton to the table so families are taking the FHA and a padded interest rate or one free and then we're coming back in six months later going conventional buying out the PMI getting rid of the mortgage insurance getting a better rate and payment called it a day so for any customer they just did an FHA mortgage you're actually going to be a great one to work with one when you do a purchase it's so much more work like the amount of running you need to do to lose a pound on a purchase is difficult like it's a horrible up hill battle to feels like you're never going to win but after you've done all that heavy lifting you set yourself up for success on this deal so don't bring the old headaches of the purchase to the refinance table because you're gonna be blown away with how easy this is even if we just save you twenty forty fifty Bucks it's going to be fast is going to be easy it's gonna be effortless on the customer whether you have equity or not getting out of FHA could be the best option for you or if you did an FHA loan and you did want to bring a ton of the table why don't we just drop your rate a half a percent there's this easy program called an FHA streamline that's one FHA back into FHA without taking cash out here's the thing we can't even increase your balance we get a leave the balance where it's at after the pay off what we try to do is cover the cost cover as much as gross as possible make you guys only provide a mortgage build insurance bill utility bill to show you live there it has to be a half a percent drop we can't even do it even if your bacon for itself there's restrictions it's so easy to get approved I love working with FHA customers because I give you two options to get out of this either the half a point drop or let's get rid of PMI we probably will need an appraisal on both scenarios those are such dream calls I know my guys are licking their lips dying to get an opportunity at that so if you know somebody did FHA they just bought a home he really anyone the just refinance this is so easy call this.

FHA
"fha" Discussed on WMAL 630AM

WMAL 630AM

02:34 min | 1 year ago

"fha" Discussed on WMAL 630AM

"That FHA revise our three year highs still for those just tuning into our show who haven't heard it before what is an FHA and why are people loving it well a lot has to do with the sweater I'm wearing trees if you got the CEO on on my end you know this beautiful grandpa's weather with the shawl collar over here you know people that enjoy any sweaters over the years and you know even on thirty six you would swear a much older but at the end the day one thing it's really it's kind of a catch us a little bit off guard is how many of you are saying yes the FHA no one has to do with so many millennials and you're in the market looking for the three and a half percent down a lot of people don't want to put a ton down nowadays there's a lot of families that thing house values are going to drop they don't want to be over committed with their assets by down payment they want to make sure that they get in get out they don't want to have a ton to the table so families are taking the FHA and a padded interest rate of one forty and then we're coming back in six months later going conventional buying out the PMI getting rid of the mortgage insurance getting a better rate and payment called today so for any customer that just did an FHA mortgage you're actually going to be a great one to work with one when you do a purchase it's so much more work like the amount of running you need to do to lose a pound on a purchase is difficult like it's a horrible up hill battle to feels like you're never going to win but after you've done all that heavy lifting you set yourself up for success on this deal so don't bring the old headaches of the purchase to the refinance table because you're gonna be blown away with how easy this is even if we just save you twenty forty fifty Bucks it's going to be fast is going to be easy is gonna be effortless on the customer whether you have equity or not getting out of FHA could be the best option for you or if you did an FHA loan and you did want to bring a ton of the table why don't we just drop your rate a half a percent there's this easy program called an FHA streamline that's one FHA back into FHA without taking cash out here's the thing we can't even increase your balance we get a leave the balance where it's at after the pay off what we try to do is cover the cost covers much Astros as possible make you guys only provide a mortgage build insurance bill utility bill to show you live there it has to be a half a percent drop we can't even do it even if you're begging for itself there's restrictions it's so easy to get approved I love working with FHA customers because I give you two options to get out of this either the half a point drop or let's get rid of PMI we probably will need an appraisal on both scenarios those are such dream calls I know my guys are licking their lips dying to get an opportunity at that so if you know someone who did FHA that just bought a home really anyone the just.

FHA
"fha" Discussed on WCBM 680 AM

WCBM 680 AM

02:27 min | 1 year ago

"fha" Discussed on WCBM 680 AM

"When you call them tell them that you only have you have an FHA loan you want to streamline and bill on the radio told me I was okay at for an eighth not for the quarter and I'll have to back them up with that because we have to give you three and five eights we have to bring you down at least a half a percent that's an FHA requirements are and we and we pay your closing costs I'm sorry and we pay your closing costs on top or no appraisal I'm I'm sorry on top of having no appraisal we pay your closing costs are okay yeah because the the the thirty third Myron Meyer who will win out because the house there's no we're not going to touch whatever your taxes are now they're going to be the same and whatever your homeowner's policy is they're going to the only thing with changing is that principal and interest payment which will bring down your whole mortgage payment so I I had I did figure it out for you like I did with the the the other guy Michael but your payment come down about two hundred dollars maybe a hundred ninety five but that's all free money you take every every month you take that hundred ninety five dollars and say thank you very much that's a really that's a simple as that there was no other catches to it but it's only for people who have an FHA or VA loan and the best thing to have as four and a quarter or higher but for an eighth will work now if your loan amount was only like seventy two thousand I wouldn't be able to do that but if your loan amounts a hundred ninety thousand dollars or more I could do that I can play with me okay all right you got the number again yeah three two one five five five five you got it you can get a job at first preference all right have a great day thank you very good well you know and you've got to be silly not to do that now for those of you who don't have an FHA or VA loan all right then you have to deal with a conventional loan that here's the problem with a conventional loan see with the FHA and VA we just doing a streamlined but with a conventional loan we have to look at your credit report your credit score has to be at least seven hundred because they penalize us for every twenty points under seven forty so we can live with seven twenty or seven ten was seven hundred but when you get into the six hundred they really penalize you credit your your your interest rate so you have to first of all make sure your credit score is over seven hundred they'll do that for free for you and they'll tell you if if but maybe your credit score six ninety five let them tell you exactly what you have.

FHA
"fha" Discussed on WMAL 630AM

WMAL 630AM

01:55 min | 1 year ago

"fha" Discussed on WMAL 630AM

"About an FHA or VA backed mortgage well better think again because neither FHA nor the VA will work with coops one more thing some coops require a hefty downpayment at least twenty percent but once you get a coop blown yes you can deduct the interest on your federal tax return now another big difference is how involved the association gets in the purchase you make they often want to make sure you're financially able to make the purchase and you own the property and they may also have stricter owner occupancy rules some coops require the owner to live there for several years before they can even rented out so make sure you check on that if you have any plans on becoming a landlord but for all the reasons we just talked about many people absolutely love living in a co op they'll tell you that all that oversight by the coop board and all the rules about financing an owner occupancy have a big upside the stricter rules they say make for a more stable environment with more owner occupants fewer tenants and less turnover in the building it also results in fewer vacancies than typical condo buildings no one last point some areas don't even have coops just condos so it all depends on where you live but your real tore will know exactly what's available in your market if it's purely a condo market great but if condos and coops are available talk to your realtor about how it works where you live they'll know the coop rules the fees the financing and more as I said coops are different so you'll need a pro to walk you through the transaction but no matter what kind of place is right for you welcome.

FHA VA twenty percent
"fha" Discussed on KGO 810

KGO 810

01:55 min | 1 year ago

"fha" Discussed on KGO 810

"About an FHA or VA backed mortgage well better think again because neither FHA nor the VA will work with coops one more thing some coops require a hefty downpayment at least twenty percent but once you get a coop blown yes you can deduct the interest on your federal tax return now another big difference is how involved the association gets in the purchase you make they often want to make sure you're financially able to make the purchase and to own the property and they may also have stricter owner occupancy rules some coops require the owner to live there for several years before they can even rented out so make sure you check on that if you have any plans on becoming a landlord but for all the reasons we just talked about many people absolutely love living in a co op they'll tell you that all that oversight by the coop board and all the rules about financing an owner occupancy have a big upside the stricter rules they say make for a more stable environment with more owner occupants fewer tenants and less turnover in the building it also results in fewer vacancies than typical condo buildings no one last point some areas don't even have coops just condos so it all depends on where you live but your real tour will know exactly what's available in your market if it's purely a condo market great but if condos and coops are available talk to your realtor about how it works where you live they'll know the coop rules the fees the financing and more as I said coops are different so you'll need a pro to walk you through the transaction but no matter what kind of place is right for you welcome home.

FHA VA twenty percent
"fha" Discussed on KOMO

KOMO

02:34 min | 2 years ago

"fha" Discussed on KOMO

"But we encourage them we joy doing it as well. So even if it's an area that we're not familiar with you know, we can get you in the right hands or just tell you what you know. What are our thought is? I mean, there's people the such a Vostok Ray of loans out there that FHA oftentimes gets a bad rep bad rap, but FHA FHA loans, sometimes that are the conventional loans. It just depends upon the postal situation that you're in so keep in mind FHA, Zola's, only three and a half percent down all the way up to seven hundred twenty six thousand within king and the homeless counties. So again, it's a great program. Government rates that means FHA in VA rates tend to be a little bit less than conforming rates. So they're awesome advantages. You know that does carry mortgage insurance as far as the FHA it goes. But overall, it can still be a better product unconventional. Depending on what the postal situation is kind of what we touched back on earlier on the show when people ask, you know, how's the market it? Once again, it depends. What you're looking to do what area? If you're trying to flip homes, if you're trying to buy an investment property, if you're trying to buy a long term, you know, home for your family, or whatever it may be. So always reach out always. So I just wanna get just wanted to get get that out this. Sometimes I think people you feel like you're on an island, and you're not there's lots of advice out. They just say sort of pick up that phone, and, you know, make the call like I said knowledge is power anyway back to what we're talking about in relation to what things you can do to your house. We were talking you said paints paint. I think is actually a great great onset. I I was looking for. But it's a great aunt's. I know it wasn't because I read the article, but you're also bringing this up again when we're about to have a hard break. Brand. Go to my goods. These are good. I'm just I'm just going going into the ten. I wanna talk about. Good job. Take that back that was a lousy. I'm not gonna talk about it anymore. But when we get back, we definitely should go over the list. And what what are thoughts are as well. Because we have some strong opinions personally. There's a shock folks. Number two, the shows eight full full talk one on one once again, eight four four talk one zero one. Stay connected. Stay informed. The home of the huskies. Komo news. Komo news is everywhere. You are stay connected. Stay informed..

FHA Komo Vostok Ray Zola
"fha" Discussed on KDWN 720AM

KDWN 720AM

01:58 min | 2 years ago

"fha" Discussed on KDWN 720AM

"We welcome your calls today in studio with you right now, I have union Lopez from the Las Vegas young artists orchestra. I would talking before the break about a couple of articles that clip I clipped something else. But I want to talk first before that about FHA approval for your community. If you live it, particularly in a condominium community here in Las Vegas. I think it's important that you understand. There was a question a few weeks ago about FHA. And the residents of a community were asking their board their association board to get FHA approval for their community. Well, the FHA the FHA approval for a community is not dependent upon the board saying, it's okay. It's a Bank upon FHA saying, it's okay and FHA has criteria. We talked again, we talked about this before. But it came up again. And I had a listener asked me these questions. So I wanted to touch on this one more time for you guys. What happens is FHA makes rules about communities. They want so many of the homes to be owner-occupied. They don't they don't want to see a lot of rentals in the in the community having fifty percents their cap actually, still quite a bit. They they wanna make sure that the communities maintain a certain level that's financially sound they're checking variety of parameters to see to it that. The the community stable mainly, and then they will own they'll ensure the loans in their FHA doesn't actually loan the money they ensure the lawns. But without their insurance. That lenders can't loan you the money under an FHA program. And a lot of people particularly in condos like FA financing because they need lower down payments. It's a little easier to attain any lower FICO score to get it in general, generally, not not every time. But generally speaking and so- FHA becomes very attractive. So when your community has FHA approval, your values go up, it's it's a very simple formula. Because now you've got more buyers are huge edition to your buyer pool for that community without it it actually hurts your values. Because now there's people out there who can get approved FHA,.

FHA Las Vegas Lopez
"fha" Discussed on WCBM 680 AM

WCBM 680 AM

02:59 min | 2 years ago

"fha" Discussed on WCBM 680 AM

"WCBS. You're listening to underwriter corner as your host Bill Parisi. Welcome back to the underwriters coroner if you just tuned in I spent some time talking about the FHA renovation loan when you don't have enough equity in the house the way it stands, you can still do home improvement, and I can go up to one hundred percent of what your house is going to be worth after you do the home improvement. It's called the FHA renovation loan. And I even have a book on this program. You can call the office. You have all the loan officers of the company in their office. And they'll be happy to throw a book in the mail to you. It's free. What I wrote it. Let me tell you. It's written in plain English. It's only about fifteen pages as pictures in it. It tells you how this works. It is a great program if you wanna do home improvement, and you don't have enough equity with that age. Eighty percent rule. So this is the way you can do home improvement and still go over the eighty percent. In fact, you can go over what the house is worth right now. And then -ticipant when it's going to be worth when you do all the home improvement till you again, it's called the FHA renovation loan. Call the office there. Eight hundred number again is three two one five five five five. Call them up and say, hey, lone officer throw one of those renovation books in the mail to me, you'll have it in two days, it's free. But, you know, something while you have the lone officer on the phone give them permission to run your credit. Tell them about your income. And let them tell you what you would be approved for if you wanted to use the FHA renovation loan. Now, I know I talk about the FHA renovation loan. But there's also a conventional renovation loan. What's the difference? Well, with the FHA you have to have a little bit better credit score than six hundred like a normal FHA loan. You have to have six. Forty. So that's still a reasonable. Most people have credit score over six forty. But with the conventional renovation loan. You have to have a credit score over seven hundred. Now, why is the conventional better? Well, first of all you can use the conventional renovation loan even on a second home or on an investment property. Will you can't use the FHA for that? Because the FHA is only for owner occupied property. So the conventional renovation Mona's terrific. If you wanna do some home improvement to your second home, and what makes a house a second home. It's a house that you're not renting out. It's a house that you're using for your own personal use usually it's in a resort area. Or maybe it's a house closer to work that you use you know, two or three days a week. And so you don't have to make that travel back to home. It's a home that you don't use as an investment property. So you can use it. You can use the renovation loan. The conventional renovation loan on a second. Home or an investment property..

FHA Bill Parisi officer one hundred percent Eighty percent eighty percent three days two days
"fha" Discussed on KLIF 570 AM

KLIF 570 AM

04:13 min | 2 years ago

"fha" Discussed on KLIF 570 AM

"Great question which is why down in Texas can you do a cash out, refinance on an FHA or is it only conventional lows there's a, couple of ways to answer that, question right you can't use you, can't do it if a cash out the state of Texas State of Texas does not allow. For FHA cash out if you currently an FHA you can, come into a cash out refinance out of, the FA ticket I don't know what I don't know what they want me. To tell, him, on that question I. Wanna make sure I'm right so. They, do a cash out refinance it's going to be, conventional it's going to be convinced the. Way right okay so if, you had an AJ? Lower the rate was a lot better at that Point in time versus, conventional, a, lot, of folks, will do. It that way it's less money down when you go HA versus conventional loan as well when you're purchasing a property. Now undertake cash out of that property, okay great no issues but it does transfer, over into, a conventional loan got different. Rules different. Regulations and it's got a different interest rate attached to it exactly give us, a call a nine seven two. Three eight seven forty six hundred again nine seven two three eight seven forty six hundred? Dress all right somebody else called in and asked. I'm? Starting a new. Job next year I'm looking to buy my first house is as well and is there a time limit on how long. I have to be at my current job to get along yes and no Yep generally speaking is. Two years right but that's generally speaking what if I don't know if you were in school. If you went to college for. Four years or you're graduating at the. End of this year and. You're gonna transition from school being a, student. To. Working because if that is the case there's no time limit you're able to prove That you were in. School with transcripts right Right The general way to answer that question is two years of, stadium stable income being in the same industry or and or same. Job but a lot of us don't have that. Testimony, right. Right because we switched, jobs, we, we we go from living in one city to the. Knicks we go from being a stay at home, mom and then we realized we need financial help in the. House so we go get a. Job so as long as you're able to make sense out of your situation and I know that may not, help but as long as your situation makes logical sense to an underwriter to investors and we can do, along what does that? Mean? Right I had a guy had a guy working for the, company eight, years making one hundred thousand dollars a year goes and works follow his boss to another company for six. Months it didn't. Work he couldn't the same type of work. Sandwich I followed his boss to another company science of money realized that didn't work. Out so we came back to the place he had been for eight. Years What makes this stuff happens yeah you. Go one place realized the grass is not green. On, the. Side and you come, back, he, didn't switch to become a doctor from being a electrical. Engineer right completely switz- industries he stayed in the, same interest he just made a company change and then he. Came back yeah these income has. Been steady he's been making money he didn't have any job gaps right so just I narrow sake it's like, he went from farmers insurance to state farm exactly you know and so if you're situations like that then, your income is still? We're? Still able to prove that your income is steady and stable, but if, you went from you know being a cashier at Kroger and then you went from being a salesperson at. Footlocker for six. Months and then you went and you work. Seasonal at Macy's and then you then you're all over the place you're not stadium. Stable because you don't you're jumping around so it just your situation really Oh I mean for the general. Sacred questions just two years stadium stable income but I. Don't know what you've been doing To substantiate answering that question right Good question. And that is a good question that's why we ask them because there's people, out there who are thinking this you know what it. Is time to buy a home. They're listening to what we're saying and then they started thinking about their their job situation or their credit, score, or whatever and. Is like well? Wait a second what about this will this allow me to buy a home or is this going to? Keep me out of the market the best way to get these questions answered as a give us a.

Knicks Texas FHA first house Kroger Macy Engineer two years one hundred thousand dollars Four years Two years
"fha" Discussed on WCBM 680 AM

WCBM 680 AM

01:57 min | 3 years ago

"fha" Discussed on WCBM 680 AM

"It's a great program we do. So many of these loans, and it opens up a whole bunch of. Houses to you you know house that's owned by the. Bank the Bank knows it has an old kitchen. Or bathroom with a carpeting needs replacing but they're a Bank three states. Away. They just have the paper. On this house they just want to sell it they're willing to lower the price if you had the money to fix it up this, is the way you have it or maybe it's a house, that was inherited by kids it was grandma's house it needs a new kitchen needs a new bathroom and needs central air but the kids are willing to. Lower the price because. They just want to split the, proceeds three Ways they don't have the. Money to, fix up, his house they inherited, you can buy it, with, the FHA renovation loan, we do so many of these, we have a little book on the program that I wrote. It's. Only about fifteen pages and has pictures in it and here's, the thing it's written in plain English. A tells you all about this loan and how it works if you'd like to get a copy of the book again you have all. Of the loan offices. A first preference in the office they're, eight hundred number is three two one five five five five. Call them, up and say hey lone officer. Throw one of those books that Bill was talking about on the FHA renovation loan, can you throw it in the mail. To me and you'll have it in two. Days but I'll tell you why. You have the lone officer on. The phone make sure you get his or her, cell phone and name so that if you need to call them back you have a direct. Line to them and. Also if you tell them a little bit about your your income and. Give them permission to run your credit they'll tell you what you would be approved for on any FHA loan you know they might say to you. You're approved for a three hundred thousand dollar FHA loan. But then you happen to find a house for, two sixty but it needs twenty thousand dollars worth of work. Well you know you approve for that because they already. Said, you were approved for three hundred thousand FHA loan and the FHA renovation. Loan is an FHA loan so, okay, you, bought, the, house, for two.

FHA officer Bill three hundred thousand dollar twenty thousand dollars
"fha" Discussed on KGO 810

KGO 810

01:34 min | 3 years ago

"fha" Discussed on KGO 810

"You Jim I've heard about several kinds of reverse mortgages fixed payment adjustable. He lock Tegas through them, and explain which ones are which. Because it all gets so confusing for people over time even. Me the experts can can, be, that's our job. Is to, uncomplicate, the process right Yelich, so reverse mortgages you have a couple of, different kinds of. Products I you have the FHA insured product or the private sector product then you can move to rate ties you. Could have, a fixed rate or an, adjustable rate and with the with the fixed rate Great great, because you have a fixed rate that the downside of the fixed rate is they're limited in terms of how. You can take the cash so the FHA, is going to dictate how much money you have. To take and and it's a it's a little bit more restrictive but you, you have to take it and you can't get any future payments off. Of a fixed rate option now if you go with an adjustable rate you have a choice to take nothing up front if you want to take it all over time or an act like a. He'll walk like a credit line on an, adjusted rate or an. Adjustable you can take part of the money upfront, and then, take the remainder of it either over time in in monthly distributions or just. Leave it sitting, there for line of credit in case of emergency. So the bottom line is the adjustable race give you more flexibility, the fixed rate gives you less cash. Flow flexibility.

FHA Jim Tegas
"fha" Discussed on KDOW

KDOW

04:28 min | 3 years ago

"fha" Discussed on KDOW

"Our financial system. Is much stronger than before? The crisis and is in a good position to meet? The credit needs of households and businesses really we are so good we're so strong, they're, telling, us our economy so strong there. Why, is it The most of. The lending by the banks are FHA they. Wanna be guaranteed Every time they saw Are they give out of Margaret mortgages are, down about twenty percent but when they do give mortgages the all. FHA FHA FHA guarantee it thinks you're so good and wages were going up so strongly. As they challenge that why is it does the FHA they will only do a mortgage as long as they're guaranteed that any losses are covered by you and. Me the taxpayers unbelievable. Think of these banks these banks make an incredible amount of money No industry makes money like. The banks and yet you and I are being asked to lend to somebody who shouldn't. Even own a house this is what gets me we're loaning to people who shouldn't have home ownership they can't afford the home but don't worry about it loan. The money even though. Their credit scores at five eighty or less Given the. Money after all the Bank, no problem they know they launch somebody two, hundred fifty thousand dollars on a house law office FHA FHA, yet gets thrown off the air so I can't do that But you can guess FHA wow, starts with word f you and. I pay for this why am I working? Fourteen hours a day And, I got to pick up the. Tab for somebody who doesn't have enough discipline To, get their credit score above five hundred. Or five eighty and. When they go down? I got to, pick up that tab I got paid for what are we not this is crazy Well the reason they're doing. It because, wages, aren't going up they. Don't, want wages go. Up I played the. Cut the other day. Where the. Guy show this wonderful we the first number two Friday for this month they said. Oh look at this boy, wow this is good numbers are going. Up jobs are going. Up thank God wages? Aren't going up Pau. Thank God wages aren't. Going up that means. The corporation. Will make more money So just. Give the guy who can't afford. A whore house would a credit. Score. Five eighty. Let's just write a. Mortgage guarantee it taxpayer will pay for it Just like just like the other. Day and watch it on TV Talking about Al Qaeda and all this and I see they have pictures of, Al Qaeda running around the truth reading route and, a. Tie iota the Toyota has to be a nineteen sixty two Toyota You wouldn't believe this to the head Enterna- back with his machine gun they rigged up and all sitting on the edge Ray to fall off all AK47.'s. Gotta be what fifty sixty years old And we are told that we gotta keep spending Remember, how they. Used to scare us code red code blue green they love it and there's an attack on this country because the Pentagon budget of sore Think about it In these tyrod 'as we had the most sophisticated equipment most fisticuffs army and navy. And air force think about it and we're spending our budget has increased to seven hundred billion from four hundred and fifty six billion since two thousand and one EMMY like we don't. Have enough weapons are you? On your mind We are spending so much and weapons eating up sixty seven percent of our federal spending no wonder our airports. Look third world country airports No. Wonder at our roads, potholes, our bridges falling, apart Because all, we're, doing is getting the large corporations..

FHA Toyota EMMY Pentagon hundred fifty thousand dollars sixty seven percent fifty sixty years Fourteen hours twenty percent
"fha" Discussed on WTMJ 620

WTMJ 620

01:50 min | 3 years ago

"fha" Discussed on WTMJ 620

"Are completely misleading factors a new warning from the consumer financial protection bureau of exactly that people were told that these products are just the best there oversimplified and the rest and so you are left with the idea that somehow this is a government benefit there are a lot of ads making it appear that reverse mortgages her government benefit they are not the fact the government indirectly is involved somewhat by in sure thing some reverse mortgages in the marketplace through the fha but the reality is reverse mortgages are alas option they have massive fees involved with them and they also can end up making you homeless there are continue during reports about people who end up in reverse mortgages don't understand what they've bought and then end up out on the street with the home they may have lived in for years or decades suddenly gone from them and they have no place to live so what i want you to know is this any time you're considering a reverse mortgage you should go through financial counseling they are something that is when you're out of all other options there's nothing else you can come up with and adult children of an ageing parent you don't want to end up with your aging parents suddenly homeless you.

fha
"fha" Discussed on The Bone 102.5

The Bone 102.5

01:34 min | 3 years ago

"fha" Discussed on The Bone 102.5

"Offers situations you have five or ten homebuyers fighting over the same house in in we'll who's who's going to get that contract and we said you know what because we have a strong brand because we're a household name in central florida that seller and that selling real estate in both recognize that were reputable local lenders going to close on time and you combine that with a validated pre approval are this the step up so we'll give anybody the preapproval letter within the next step up from that is a validated preapproval which is what tells the seller that you cooperated with us gave us all your documentation and got the validated preapproval and one of those slides across a sellers desk are they get accepted and my proof of this is that the number one lone right the sellers your scared of is an fha lung rang grab because to a seller fha says oldest customer isn't putting twenty percent down right all they may have a credit dang they may have a little bit hired at income ratio why are they getting fha loan i've always heard fha loans are bad debt it's bad to sell assembling fha on this is what sellers thank i will we're the number for one fha resale lender in orange in seminole county which means that residents of warned in seminole county will accept the rp funding fha preapproval letter more times than anyone else's and that's the preapproval letter you wanna have so the toughest type alone out there the one that sellers are most sceptical love our preapproval letter gets accepted and turns into a closed loan more times than any other lender that's the letter you want because we've done a good job of educating the seller i talk about on my radio shows i talk about it in our rtd campaigns i talk about it on our direct now campaigns.

florida real estate seminole county fha rtd twenty percent
"fha" Discussed on WTMJ 620

WTMJ 620

02:47 min | 3 years ago

"fha" Discussed on WTMJ 620

"The boost you need now generally if you did a short sale the rules with the fha range from a blake to being able to get a mortgage to three years generally people who have been through a short sale have been doing if they wanna buy sooner have been doing the fha loan program where the two of you as far as downpayment we are probably at about ten percent okay so that would lynn towards the fha loan program also if you want to go ahead and by now you know the key criteria that determines whether you have to wait three years is if you word delinquent half the time you did your short sale we where okay so three year rule would normally be in effect now there is a waiver of that four to print small circumstances and that is if one of you had lost her job in the lead up to doing the short sale or if either of you at had like a major illness bryant i'm going out there who actually that's fortunate you did trail so that means that you might need to wait till you hit thirty six months yeah you would recommend that we reckon kale well you can look at it in fha the reason i was probing about down payment is if you had a lot more downpayment money is a percent you'd be able to look at lenders like credit unions that may hold alone in portfolio and in fact if you are a member of a credit union he might go to them and see if they would qualify you for a mortgage that they keep in house outcry and generally went aground came at a well it's not like there's a magic number it's a higher percent you have the easier it is to be able to get through blown off sir alone committee and get approved four alone okay also ten percent puts you kind of on a margin where maybe yes maybe know you'd be able to get alone done but are either you or your husband members of a credit union we are have you been to them to see if they'll right a home loan for you know we i want you doing that is like something you do really soon and they'll way out for you under their rules and underwriting whether they're interested in having you credit unions on.

blake fha ten percent three years thirty six months three year
"fha" Discussed on WTMA

WTMA

02:29 min | 4 years ago

"fha" Discussed on WTMA

"Kathy you're getting letters saying you're going to be rich with tons hold well what are you being told actually and welfare three three ladder two of them actually name anna now on how much income from dollars well that's not rich but it's still found money if it is yeah no i went on your website inland fishing many dot com and i don't trained anything on there and what a shame did you ever own a house that had an fha homeloan on it i think he did um but i check that now check the state our when it's an amount like that always think the fha loan refund deal oh and if you didn't find on missing money dot com that's why the next question i ask is about hud and if you go to hide dot gov you'll see a procedure there were you can find out if there's an fha refund hanging out okay they they want to give you that is my second best gas if you're he did missing money and so you then went after missing money you went on claimed out oregon you tried a particular state three actually you try three states with those based on where this is not for you this is a relative my husband your husband all right so the three states he picked how did you pick him keystone where he lived terai lyn all right that's not enough you wanna check one wednesday to want to check for an amount life that is connecticut and the reason connecticut will come up is because so many insurance companies are based in connecticut so it's always good to check the connecticut unclaimed property office and then sometimes it could be money from an exemployer in that case you check the state of delaware because so many corporations are based in delaware even if they never go to delaware for anything other than there just incorporated in delaware carr's delaware has laws that are very favorable to corporations in and against the interests of stockholders are in so companies will go set up in delaware for that reason even if they never do any business in delaware no i am betting the fha thing well okay said try that and see if money does come back in the usually when it's the fha lighters or people asking for ten percent of the money in.

Kathy anna oregon connecticut insurance companies delaware delaware carr fha ten percent