FHA’s attitude towards reducing its current levels of market share by up to 50% through passing strict new buyer guidelines is raising eyebrows in the tools it has chosen to use, to promote those goals.
FHA has initiated a new policy change regarding charge off’s or collections on a would-be homeowner’s credit report. FHA passes new guidelines stating " if a borrower has collections that total over $1,000" - then the borrower will be required to:
FHA passes new guidelines changes that should actually increase the difficulty level of a borrower and restrict the ability of those looking for home ownership. This will effectively reduce the buyers pool nationwide. These new FHA guidelines are also intended to reduce risk. Borrowers in process of applying for an FHA loan should keep these changes in mind to close their loans before the date the guidelines are set to go into effect. FHA passes new guidelines that go into effect on April 1, 2012 for all FHA insured loans.
Is Obama to be impeached?
I was sent this article but have had no time to research the credibility or the publication itself. As I read thru this article, I felt compelled to share with as many as possible to ask if anyone can verify the authority of the publication and or the author and their resources to write the article?
I know only one way to check the credibility so I sure would appreciate some help here!
Is Obama to be impeached?
http://www.wnd.com/2012/03/obama-impeachment-bill-now-in-congress/
The Obama new FHA Streamline refinance plan does appear to address and eliminate a lot of the issues homeowner's have faced these past 4 years of ever increasing short sales and foreclosures.
Americans have had 4 long, arduous years of high unemployment, severe credit crisis, personal and business bankruptcy, loss of home ownership through the short sale process and foreclosures - with the rising threat of another 4 million foreclosures looming on the horizon. This was, indeed, quite the change - but not the hope that most Americans were looking for.
Allegedly, there are over 3.5 million homeowners that fall into the qualifications and can take advantage of the program details. If lenders cooperate and individuals can actually receive this streamline refinance - it could mean offsetting the implications of another 4 million foreclosures on the economic landscape.
If this new FHA streamline refinance program is successful, we should realize a faster housing recovery. We are fast approaching another choice to change the future - let's hope that this time the choices we make will be for the better. Otherwise, we might see the future of home ownership - and the American way of life- disappear in America altogether.
Good news on the new FHA streamline Refinance Program offered by the Obama administration-some Homeowners with FHA mortgages might be able to benefit from a new plan made public on Tuesday. The plan includes the FHA cutting certain upfront fees on their streamline refinance program.
This new FHA Streamline refinance would impact homeowners who took out a loan before June 1st, 2009.
About three million homeowners might be able to benefit from the new plan and reduce their monthly payments by having their interest rates adjusted to today’s low rates.
Most FHA loans from 2005-2009 were typically at 5.5-7.5%. Having a reduction to 3.25-4% would represent substantial savings and a more affordable monthly mortgage payment.
This new FHA streamline refinance program could be positive for both housing and the economy. With these new low fees and low rates, the Obama administration is looking to prevent additional foreclosures – reducing the ongoing effect of the foreclosure crisis on the economy.
The upfront fee reductions would represent additional savings for each homeowner who can qualify for the new plan.
This new FHA streamline refinance plan is allegedly presented to make it easier for banks to allow the homeowner to streamline refinance because it includes a directive that allows the FHA not to count the loan toward a lender’s “compare ratio”- which is one of the guidelines lenders typically have to use.
Lenders should be more amenable to allowing the homeowner at a higher risk to streamline refinance on the basis that FHA will not hold the lender accountable should the loan fail to perform.
What does this mean to the homeowner with an FHA loan looking to streamline refinance? Lenders have only permitted people with credit scores of 620 or better to refi. Now they might be willing to lower that credit score to 580.
FHA streamline refinance loans are typically qualifying assumable loans – so a homeowner would have attractive loan terms to offer in order to sell their home - and new buyers would have a second chance to take advantage of these historically low interest rates in the future.
Obama offers New FHA Streamline Refinance
HUD recently proposed a new revision to seller concessions that are currently permitted. The current maximum seller concession is 6% towards buyer closing costs. Any seller concession that exceeds 6% would be considered as an inducement to purchase.
HUD is proposing that any seller concessions be reduced from 6% to a maximum of 3% for loans insured by FHA. The reduced concession percentage will not apply to the Neighborhood Stabilization programs which will remain at the 6% level. HUD's proposal also limits how the seller concession is used- eliminating payment supplements for HOA fees, mortgage payment protection plans and interest payments.
Seller concession revisions proposed by HUD should have another dampening affect on home purchases in the future.
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Colorado Real Estate Agency-Commercial- Residential-Investment-Short Sale Specialists with Agents in Denver-Englewood-Lone Tree-Castle Rock-Parker-Larkspur- Monument-Colorado Springs
Service You Deserve
Colorado Short Sale Agents - Monument Short Sale Agents - Colorado Springs Short Sale Agents - Denver Short Sale Agents - Castle Rock Short Sale Agents - Parker Short Sale Agents - Lone Tree Short Sale Agents - Larkspur Short Sale Agents - Highlands Ranch Short Sale Agents - Englewood Short Sale Agents- -Littleton Short Sale Agents - Ken Caryl Short Sale Agents
- Colorado Real Estate Agent Specialists in Residential and Investment
- Equator Certified
- Colorado Certified Commercial Sales Specialists
- Accredited Short Sale Agent Specialists (Residential and Commercial)
- Certified Distressed Property Specialists
- Certified REO Asset Disposition Specialists
- HAFA Certified Real Estate Specialists
- Home Buyer Specialists
Areas of service: Metro Denver, Lone Tree, Highlands Ranch, Littleton, Ken Caryl, Golden, Englewood, Castle Rock, Castle Pines North, Larkspur, Parker, Monument, and Colorado Springs.
Community involvement, excellent client service, Professionally licensed Realtors and 24 years of experience is why you can expect results you can count on… with integrity you can trust in.
www.homesforsaleMonumentColorado.com
Denver, Highlands Ranch, Lone Tree, Englewood, Larkspur, Castle Rock, Parker, Monument, Colorado Springs Short Sale Agents
Short Sale Agents Specialists - Colorado Realtors -Colorado Real Estate 
The short sale process for Real Estate for sale in Colorado consists of:
There are several key factors involved in achieving the goal of a successful short sale:
You don’t have to have a 10-15 year credit hit on your history because of a foreclosure.
You do have options. Let us help you.
Lenders require specific documentation to be sent to the lien holders on the property in order to consider a short sale for you. Banks will not consider an incomplete documentation package, so it is important to submit a completed set of the mandatory documents at first contact.
There is a detailed amount of paper work to put together and to keep updated every month for the lender(s). This required documentation from you, the homeowner, will demonstrate to the lender(s) that you require a short sale.
List of Homeowner required documentation
Additionally, our past 90% success rate of getting forgiveness of any seller deficiency, clearly shows our dedication to our clients best interests. Call or email us today to get the help you need to move forward.
With 24 years of experience to bring to the closing table on your behalf, our assistance is a solid rock for you to lean on. Please -allow us to put our expert short sale services to work for you.
We recommend you consult with your attorney and tax professional concerning your specific situationto determine if a short sale solution is an option for you:
The two biggest issues for a seller to realize is the need to take action as soon as possible and understanding that you need a short sale agent REALTOR Speciailist with experience and training. You can lose your home to foreclosure while an untrained agent tries to get the home sold. Your choice does matter. Every minute you wait to call, you are more at risk.
Our Denver, Highlands Randch, Ken Caryl, Littleton, Lone tree, Englewood, Larkspur. Monument, Castle Rock, Parker and Colorado Springs Short Sale Agents REALTOR Specialists stand ready to assist you with speed an accuracy.
The longer you wait the more difficult it becomes to help you. As Colorado Short Sale REALTOR Specialists, we treat all our clients with confidentiality, dignity and respect.
Do you have questions? Call us at 720-222-5048
Or email us at: info@angelrealtyglobal.com
In Denver, Lone Tree, Castle Rock, Parker, Monument and Colorado Springs - clients tell us what they think of the services they received….
Seller completely forgiven of $149,000
Following the crash in the real estate market, when we were looking to short sell our Condo in South Denver, we were somewhat in the dark and did not know much about the short sale process or where to even begin. It was then that we came across Laurie Clark,with Angel Realty, LLC.
Though relatively a lesser known firm, we still chose to go with Laurie after the very first time that we spoke with her, because she gave us a kind of confidence and could convince us immediately that she was absolutely capable of handling this short sale for us.
More than her vast knowledge of the entire short sale process and its intricacies, what really appealed to us is Laurie’s dedication and personal attention to our case where we never had to follow up with her on anything – she was always responsive, available, helpful and patient with us throughout the entire process and helped us endure what could otherwise have been a most difficult and complicated process to understand and go through.
Laurie worked relentlessly at finding us the best offer and getting the approval from our bank in a very short time span. On top of this, and most importantly, she was also able to attain forgiveness of the entire deficiency from the bank which was a God-send for us!
We could never thank Laurie enough for making this possible for us, as we were very particularly concerned about the deficiency.
It has been our absolute pleasure working with Laurie. Today we are really glad for having gone with Angel Realty, LLC, and not with anybody else for the sale of our condo. Laurie Clark comes with our highest recommendation and anyone not employing her services would be losing out on a most efficient Realtor in the Denver Metro area.
Hiran and Swarna Sammeta
Swarna255@yahoo.com
Investor Satisfaction 
“Laurie Clark is absolutely the most knowledgeable Real Estate Broker I’ve had the privilege to work with. She has accreditation in five or six different areas of the profession. Her integrity and ethical standards are unequaled, and her concern for her clients welfare is admirable.
Ms. Clark is well versed in all aspects of the Real Estate profession – commercial and residential. As an Investor looking for professional representation, she has been absolutely the most valued contact we could have made. I look forward to a long personal business relationship with Laurie Clark, and I hope she will continue to work with me for quite some time.”
Sincerely,
GARY MARTINEZ
Pueblo Investment Group, LLC
garymartinez@hotmail.com
“Laurie has helped various members of my family with their real estate needs. She has been excellent, honest, and delivers excellent service every time. She is one of the most current and well informed Brokers I have ever worked with. She always goes the extra mile for her clients. I would highly recommend her for all your real estate needs.
Tom ONeill”
wtoneill25@comcast.net
(hired more than once) 
Top Qualities: Great Results, Expert, High Integrity!
“Laurie is extremely intelligent about the marketplace and was a real advocate for getting us the right house at the right price. Our neighbors paid $50K more for their houses! She walks the walk!” May 1, 2011
Kurt Rhea
Top qualities: Great results, Personable, Expert, High Integrity!
Need help? Call us now at 720-222-5048…
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