Fannie Mae Down Payment Requirement to Increase in November, Says Mortgage Bank | Virtual-Strategy Magazine


Fannie Mae Down Payment Requirement to Increase in November, Says Mortgage Bank | Virtual-Strategy Magazine.   Updates to Fannie Mae’s Desktop Underwriter, known as DU, are not at all uncommon. Most changes are minor and do not directly impact a buyer's ability to qualify for financing. In some cases though, a change comes along that … Continue reading Fannie Mae Down Payment Requirement to Increase in November, Says Mortgage Bank | Virtual-Strategy Magazine

SURRENDURING YOUR HOME IN BANKRUPTCY


SURRENDURING YOUR HOME IN BANKRUPTCY.   by: Tracy L. Hirsch, Attorney One of the hardest decisions a family has to make is deciding to surrender their home in a bankruptcy proceeding. Often times, this means allowing a home to go through the foreclosure process and discharging their mortgage obligations in a Chapter 7 bankruptcy. Many … Continue reading SURRENDURING YOUR HOME IN BANKRUPTCY

Signs of credit-score easing for buyers as market softens | Business & Technology | The Seattle Times


Signs of credit-score easing for buyers as market softens | Business & Technology | The Seattle Times.

Louisville Home Sales at Six Year High


Louisville Home Sales at Six Year High.     LOUISVILLE, Ky.  --  Homes sales in Louisville and the surrounding area, continue to do well. The Greater Louisville Association of Realtors has released year to date figures showing the number of homes sold, and the average sale prices, are both at six year highs. Association President Paul … Continue reading Louisville Home Sales at Six Year High

FHA eases mortgage rules for some credit-impaired applicants for collections and charge offs


FHA Collection Accounts • A Collection Account refers to a Borrower’s loan or debt that has been submitted to a collection agency by a creditor. • Medical Collections are not required to be paid and satisfied. • Collection accounts of a non-borrowing spouse in a community property state must be included in the $2,000 cumulative balance … Continue reading FHA eases mortgage rules for some credit-impaired applicants for collections and charge offs