Posts Tagged ‘home’
Trend of Boomerang Home Buyers Using FHA Loans Continues to Rise as More Potential Borrowers Become FHA-Eligible
Las Vegas, NV (PRWEB) May 13, 2013
Best Rate Home Loans, a national professional network of approved mortgage lenders and loan providers who specialize in FHA loans and other low down payment options, reports that FHA borrowers who were forced into short sales and foreclosures on homes during the worst of the recession are now coming back strong into the housing market, with FHA loans providing them the opportunity to pay much less on down payments, and more importantly, start making payments on new homes in four years less than most conventional lenders would allow.
CBS News recently reported that about 2.2 million homes were sold nationwide through short sale since the recession began in September of 2008. On top of this number are the 5 million foreclosures that the nation saw during the recession. While short sales and foreclosures can often take a negative toll on a borrowers credit, a national trend has developed in recent months, as the housing market has come booming back, in which borrowers who previously had to give up a home due to a short sale or foreclosure are re-emerging once again as homeowners. And much of this has to do with the increasing number of FHA-eligible borrowers.
CLICK HERE to check FHA loan eligibility.
The reason for this trend, and the rising amount of FHA loan-eligible borrowers that has gone up from less than 300,000 in 2011 to over 800,000 today, boils down to two things: time and economic recovery. When new homeowners were being laid off from their jobs in 2008 and 2009, many held out hope that they could still make costly monthly mortgage payments for an additional year or two longer than they were actually earning any income. So it wasnt until around 2010 and 2011 that many of the 5 million homes that went into foreclosure during the recession were lost to these homeowners.
Where boomerang buying and FHA purchasing come into the equation is in the amount of time since many of these homes were foreclosed upon: three years. Thats the minimum duration that the FHA has allotted for responsible borrowers to become eligible again for an FHA loan. And as past mortgagees who have been renting for the last three years and saving up moneymaybe after finding that job they were searching for as the economy begins to reboundbegin to see the housing market gain momentum, many of them are using the historically low FHA mortgage rates, as well as down payment rates as low as 3.5 percent, to give homeownership a second shot.
Another large reason why FHA loans are becoming increasingly popular for boomerang buyers is because conventional lenders often will not lend to borrowers for a minimum of seven years after a short sale or foreclosure. And for the conventional lenders who are offering loans in a shorter period of time, they often ask for a down payment of as much as 20 percent. With these stark differences in mind, its crystal clear why boomerang buyers are hopping on the FHA loan bus.
Many folks saw their homeowner dreams turned into nightmares as the recession hit and unemployment rates spiked and home values declined, says Brian Maier, Broker/Owner of Raintree Mortgage, a Las Vegas FHA Mortgage Lender. The trend of boomerang buyers is living proof of the determination of Americans to achieve their homeownership dreams, and those dreams are becoming a reality thanks to the amazing incentives being offered by the FHA.
About FHA loans:
Over 34 million homes have been insured by the FHA since it was created in 1934.
While conventional mortgages typically have difficult underwriting laws, FHA-insured loans appeal to a wider base of homebuyers by incentivizing them with laxer credit standards, lower down payment requirements and more varied income calculations.
FHA loan benefits:
Down payments as low as 3.5 percent
Credit guidelines that appeal to most borrowers
Streamlined refinancing capability
All-in-one home renewal loans
Click Here to check your FHA Loan Eligibility.
Best Rate Home Loans is a national professional network of approved mortgage lenders and loan providers who specialize in FHA loans and other low down payment or streamlined refinance options. Call 888-269-5585 for further information on the Boomerang Home Buyer Program.
199 Great Home Businesses You Can Start (and Succeed In) for Under $1,000: How to Choose the Best Home Business for You Based on Your Personality Type
199 Great Home Businesses You Can Start (and Succeed In) for Under ,000: How to Choose the Best Home Business for You Based on Your Personality Type
Turn Your Dream of Starting a Home-Based Business into Reality!
It’s incredibly easy to start a money-making business right from the comfort of your own home. Millions of people just like you are enjoying the freedom—and extra income—of working for themselves. You can too. In 199 Great Home Businesses You Can Start (and Succeed In) for Under ,000, home-based business guru Tyler Hicks shows you how to achieve your work-at-home dream.
Inside you’ll learn the secrets to:
·Choosing the home-based business that’s just right for you
·Getting started in your business with minimal cost
·Building your fortune doing what you love
·Running a business from home while keeping your day job
·Using the Internet to advertise and promote your home-based business
·And much more!
This invaluable book will help you begin your promising new life today as a successful home-based entrepreneur!
List Price: $ 14.95
Price: $ 2.76
Question by john: How do you find home foreclosure listings without buying a membership?
Answer by Josh
Call a Realtor and they will be able to help you more than any website will.
Know better? Leave your own answer in the comments!
R. Kelly loses home in foreclosure sale; Ryan Phillippe finally sells home
The singer-songwriter-producer, whose legal name is Robert S. Kelly, was hit with a $ 2.9 million foreclosure suit in July 2011 because he had stopped making payments on the Olympia Fields, Ill. home. But after trying to force a loan modification when …
Read more on NBCNews.com (blog)
Home foreclosure rate increases in Albany area
The number of home mortgages in some stage of the foreclosure process increased in January in the Albany, NY metro area, rising to a higher level than the national foreclosure rate, according to a report released today by CoreLogic. Of the outstanding …
Read more on The Business Review (Albany)
County files foreclosure suit against Kress Building owner over small parcel …
County files foreclosure suit against Kress Building owner over small parcel of land. WICHITA — Sedgwick County has filed a tax foreclosure suit against Kress Building LLC, the owner of the Kress Building at 224 E. Douglas. The taxes aren't for the …
Read more on Kansas.com (blog)
Finding the Uncommon Deal: A Top New York Lawyer Explains How to Buy a Home For the Lowest Possible Price
Finding the Uncommon Bargain: A Top New York Legal representative Explains The best ways to Get a House For the Lowest Feasible Rate
# 1 on the New York Times Bestsellers List!
Winner of the Nationl Association of Realty Editors’s ‘Best First Time Author’ Award!
USA TODAY Best-Selling Books Top 150 List!
# 3 on Amazon’s Finest Sellers in Real Estate!
Benefit from today’s genuine estate market to find excellent properties at fabulous prices.
Our recent financial meltdown changed realty from a prominent investment to financial kryptonite. A lot of people purchased homes with mortgages they merely can never afford. Fortunately: Large amount are out there for the taking. Finding the Uncommon Deal provides you the keys to uncovering and successfully negotiating the cheapest prices for the most prized homes offered.
- Discover ways to go past Internet listings to get on-the-ground knowledge on the very best dealsGet shown working out skills to close the bargain at a rock-bottom priceThe author has actually assisted thousands in purchasing houses as a lawyer, broker, and investor; has been ranked by worldwide esteemed publication Chambers and Partners as one of the leading realty lawyers; and regularly appears as a realty authority in the New York Times and the Commercial JournalIf you’re effective enough to manage a house, then you probably have the skills
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WantYourGold Offers Consumers Nationwide a Solution for Today’s Struggling Economy: From the Safety of Your Home Sell Your Old, Broken and Unwanted Gold for Cash
Miami, Fl (PRWEB) August 12, 2011
Nowadays, the National Debt has reached almost 15 Trillion Dollars. That’s Ridiculous. To top it off, America’s Credit Rating has been down-graded by the S&P. That’s not even the worst part. Our economy is weak, and because of that millions of Americans are jobless. It’s no wonder everyone is looking for an opportunity to make an extra buck or two. Selling Your Gold Online Might Be the Solution.
WantYourGold is the newest gold buyer on the market, but vows to be the safest and most honest. Alexandre T, President of the company is a people person, and says “I used to struggle with bills, I know what it’s like.” The couple started the company just last year. WantYourGold will send your payment within 24 hours, via check or direct deposit into a checking account.
Selling gold jewelry for cash can be the easiest solution to extra income as per the rising prices of gold in the market. Finding the best place to sell gold jewelry is a top priority for gold owners who are interested in selling gold.
WantYourGold.com offers the simplest and the most reliable way to convert your old gold jewelry in quick cash. The company pledges 100% guarantee and fair evaluation to customers gold jewelry. It is an absolutely certified website committed to give its customers wide options and offers to sell gold jewelry underlying the companys policies. The simple three step procedure at WantYourGold.com enables a quick solution to cash-in gold jewelry with best prices. WantYourGold.com provides a secure way through an insured mailer pack to send jewelry.
The only mission statement of the company is to be honest and dedicated to whatever prices it offers to the clients. The prices are tagged on the website as per karat, weight and payout. The website connects with the USPS.com that makes it easier to manage shipping and track the orders placed by customers. Customer service representatives are ready to respond the customers queries Monday through Friday to the specified timings.
WantYourGold.com is one of the leading names that offer quality pricing deals to customers selling gold jewelry for cash. With years of experience, the company has built up an impeccable reputation in the industry. WantYourGold.com follows dedication, honesty and communication as the key factors as per companys certified policies. http://www.wantyourgold.com allows users to know about the various options available for selling gold jewelry for cash.
Question by MS Cascata: Does anyone know much about purchasing a Foreclosure home?
I’m looking into foreclosure homes in Florida. I am a first time home buyer and am still researching the in’s and out’s of foreclosures. Any information you have would be helpful. Thank you
Answer by Daphnie J
I suggest you hookup with a local Realtor, they can act as your Buyer’s agent and help you especially since this is your first purchase. It won’t cost you anything, their commissions are paid by the seller. Good Luck!
Know better? Leave your own answer in the comments!
Infórmese Sobre el Programa Making Residence Affordable con Opciones para Refinanciamiento y Modificación. www.makinghomeaffordable.gov
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THE PRE-FORECLOSURE PROPERTY INVESTOR'S KIT - THOMAS J. LUCIER (PAPERBACK) NEW
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Goldmining in Foreclosure Properties 1994 by Achenbach, George 0471034517
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Banksy Home Foreclosure premium qualty 16 x 20 flat Canvas Gilcee Print
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