FHA has announced the New FHA Loan Limits.   Below is a table that shows those new amounts. 

Please have your FHA Buyers Call Me for the BEST Rates

Servicer Contact Numbers for Homeowners
Provided by HOPE NOW

Below are the customer contact telephone numbers of HOPE NOW servicer members. If you are a homeowner having trouble with your mortgage, please call your servicer's hotline for assistance
(please have your account number ready when calling).

If you would like to talk to a HUD-approved homeownership counselor, please call the
Homeowner's HOPE Hotline, 888-995-HOPE, operated by the Homeownership Preservation Foundation.
Free counseling is available 24 hours a day, 7 days a week.
You can also visit www.995hope.com for more assistance.
Downloadable Flyer

In the Frame below is information on the current OHFA - 1st Time Buyers Program.
To qualify you either have to purchase in a Targeted Area or have not owned a home in the past 3 years.
Call me to find Targeted Areas.

Tim Bradford
(216) 324-8113

Please consider using one of the Realtors displayed.
Any Northern Ohio Realtors wishing to be included in the rotating banners should contact me.

In the Frame below is information on the current OHFA - 1st Time Buyers Program.
To qualify you either have to purchase in a Targeted Area or have not owned a home in the past 3 years.
Call me to find Targeted Areas.

Tim Bradford
(216) 324-8113

Please consider using one of the Realtors displayed.
Any Northern Ohio Realtors wishing to be included in the rotating banners should contact me.

 In the Frame below is information on the current OHFA - 1st Time Buyers Program.
To qualify you either have to purchase in a Targeted Area or have not owned a home in the past 3 years.
Call me to find Targeted Areas.  

Tim Bradford
(216) 324-8113

Please consider using one of the Realtors displayed.
Any Northern Ohio Realtors wishing to be included in the rotating banners should contact me.   

Did you know that a special HUD incentive now allows you to purchase a HUD owned Home
in Ohio with a $100.00 Down Payment.
If on a Propety Detail Page you see the following the property is included in the Incentive

Advantages of a Reverse Mortgage

The main advantage of reverse mortgages is that they are an extremely flexible financial planning product with very few - if any - restrictions on how you receive and use the money.

To many people, a reverse mortgage simply sounds too good to be true. But, there really are no catches - given the right set of circumstances, a reverse mortgage is an ideal way to increase your spending power in retirement.

Key advantages and benefits of reverse mortgages include:

• No Risk of Default:
  • Unlike a home equity loan, with a reverse home mortgage your home can not be taken from you. If you default on a home equity loan, you could lose your home.
  • The Reverse Mortgage Lenders have no claim on your income or other assets.

• No Downside: You will never owe more than your home's value at the time the loan is repaid, even if the reverse mortgage lenders have paid you more money than the value of the home.
• Tax Free: The money is typically tax free, since it's a loan when the homeowner receives the funds, as either additional fixed income or a lump sum.
• No Restrictions: How you use the funds received is not restricted - go traveling, get a hearing aid, purchase long term care insurance, pay for your children's college education - anything goes.
• Flexible Payment Options: You can receive the loan money in the form of a lump sum, annuity, credit line or some combination of the above.
• Easy Pre-qualifications: There are no income qualifications
• Home Ownership: You retain home ownership and the ability to live in your home
• Guaranteed Place to Live: You can live in your home for as long as you want
• Federally Insured: Some reverse home mortgages are federally insured - these are known as HUD's HECM FHA insured Home Equity Conversion Mortgages (HECM) reverse mortgages. With these, even if the reverse mortgage lenders default, you'll still receive your payments.

Below is information on a Down Payment Assistance Loan Program that is available for a number of cities in Cuyahaoga County. Call for additional information. 24/7 Info Line 800-686-3600 ext 225 or Contact Tim Bradford

There is a limit of 10 down payment assistance loans, per community, per calendar year.

Recieved today from HUD. Looks like it is business as usual for the time being. Check the website of your favorite DPA Program to verify they are still active.

This is to notify you that FHA is not permitted to implement the downpayment assistance rule at this time. Judge Friedman of the United States District Court for the District of Columbia issued a ruling enjoining HUD from implementing the downpayment assistance rule, which was to go into effect today. This injunction is

applicable to everyone affected by the Rule. HUD will provide further guidance as appropriate.

To read the downpayment assistance rule (enjoined) in its entirety and for more information please visit: http://hudclips.org/sub_nonhud/cgi/pdf/4846a.pdf

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