If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of a ll/any other borrowers.
I have been working on a new Marketing Project to help the Communities, the Neighborhoods and the Real Estate Community who have been destroyed by Foreclosures.
This new idea has not only helped the Buyer to purchase a home that was a "Fixer-Upper" and make it their home; but it has helped the Neighborhood.
In a recent meeting I had with the REO Division of FNMA I was told that most Borrowers who purchase an REO property and do not have the funds to rehab the home lose the home to foreclosure! I was shocked at this information.
I come from a Builder background and thought how great it would be to give the New Home Buyer (that may not be able to purchase a new home) the New Home Experience. It has proven to be a huge success and has given me a sense of pride in helping this Foreclosure Problem correct itself.
If anyone is interested please feel free to contact me..
I read in a recent blog that the writer felt FNMA was the wave of the future in Mortgage Loans. I cannot for the life of me figure out where that came from. As I see it if you are not FHA approved today you are not going to make it. There has been a 75% increase in FHA Broker Applications with FHA in the past 9 months. The FHA loan market has increased two fold. Government loans are by far the best deal for the First Time Home Buyer. I have recently started marketing a new program "Happy Home". It is a new way to market and help communities working with the FHA 203K Loan
If any one is interested in this presentation please feel free to contact me. It not only helps the Buyer but it is helping the Community, the Neighborhoods, and the Real Estate Community as a whole.
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