January 2010
With New Federal Guidelines Short Sales Should Become Easier
January 27, 2010 by Jane Peters · Leave a Comment
With new guidelines due to take effect in April, and with lenders able to implement them earlier, the frustrating process of short sales should become easier. The guidelines are part of the new government Home Affordable Foreclosure Alternative Program (HAFA). The purpose is to enable borrowers who are eligible for loan modification programs but are unsuccessful in their attempts, to work out a plan with their New Short Sale HAFA Guidelines lenders... [Read more...]
Buyers Beware of the Good Faith Estimate
January 17, 2010 by Jane Peters · Leave a Comment
The Good Faith Estimate, or GFE was intended to protect the buyer by documenting all the fees that need to be paid by a buyer at closing. The fees at closing cannot differ more than 10% of what was quoted, and if it is more, the lender is liable for the difference. This was put in place to keep lenders honest. Previously, cost estimates would be massaged in order to lure a borrower away from the competition, and when it came time to pay up at... [Read more...]
Buying a Home in Los Angeles
January 9, 2010 by Jane Peters · Leave a Comment
You have decided you are ready to buy a home in Los Angeles but you are waiting for: The bottom of the market. Interest rates to go even lower. A great deal on a foreclosure…… There are many reasons to avoid actually jumping in an making the purchase. But: You will never know where the bottom is, and common opinion is that we are at the bottom now. Interest rates are at an all-time low, and are likely to rise this year. You and the... [Read more...]
New Loan For California Healthcare Workers
January 3, 2010 by Jane Peters · Leave a Comment
There is a new mortgage available for California Healthcare Workers. Broadview Mortgage has an exciting new loan for healthcare workers making home-buying affordable. Healthcare Workers New Mortgage Program This loan is available to almost anyone in the medical field – medical office receptionists, ambulance drivers, doctors, nurses, physicians aids, physical therapists, etc. Here are some of the program’s highlights: Fixed origination... [Read more...]
