HARP Refinance Program Extended and Expanded December 1st, 2011

Posted on 25. Oct, 2011 by Scott Schang in HARP

Don’t feel like reading?  Listen to this article instead! FHFA, Fannie Mae and Freddie Mac announce HARP changes yesterday that should be great news for an expected millions of homehowners nationwide. The new program enhancements address several other key aspects of HARP including: my “english interpretation is in italic Eliminating certain risk-based fees for borrowers [...]

HomePath Buyer Incentive on Fannie Mae Foreclosures

Posted on 27. Jun, 2011 by Scott Schang in Fannie Mae HomePath

There is a special buyer incentive now being offered on Fannie Mae foreclosure homes when using a HomePath loan. As you may recall from my previous post about the Fannie Mae HomePath buyer program, this is a special loan program that allows buyers to buy with as little as 3% down payment and NO MORTGAGE [...]

Buy Fannie Mae Foreclosure Homes with HomePath?

Posted on 20. Jun, 2011 by Scott Schang in Fannie Mae HomePath

I’m not going to go into a long drawn out explanation of what Fannie Mae is…but let’s just say that they had a lot to do with the current housing mess that we’re in right now. This is bad for home owners, good for home buyers. Now, Fannie Mae has a bunch of foreclosure homes [...]

Fannie Mae Know Your Options

Posted on 02. May, 2011 by Scott Schang in Foreclosure Prevention

This is a difficult economy for so many countless numbers of families. In this economy, it’s not your fault but sometimes there are hard choices to make about keeping or letting go of your home. I have written about how long you have to wait after foreclosure, short sale or bankruptcy. I am afraid I [...]

Loan Level Price Adjustments Increase April 1st, 2011 – No Joke!

Posted on 13. Jan, 2011 by Scott Schang in Home Buyers, Home Owners

Home loan fees increase on April 1st, 2011 for any borrower with less than 30% down payment or equity and less than a 720 credit score. Beginning on April 1st, all loans sold to Fannie Mae will cost the borrower and extra .25% to .50% across the board. The actual term for these fees are [...]

FHA Loans vs Conventional Loans: Which loan is best for you?

Posted on 25. Aug, 2010 by Christopher "Doc" Apodaca in FHA Home Loan, Home Purchase Loan

There are many misconceptions about FHA loans (Federal Housing Administration) and Conventional (typically Fannie Mae or Freddie Mac) loans.

I’ve heard everything from “FHA is the new sub-prime” (it’s not) to “FHA is for poor people” (also, not the case).