If you are thinking about buying a home after going through a financial hardship, one thing that you may want to be aware of is that Underwriters will consider your situation differently if you went through an "extenuating circumstance" when you had your hardship. If you were experiencing an extenuating circumstance during your hardship, lenders may shorten the waiting period that you have to wait after a short sale or foreclosure. In order to qualify for an extenuating … [Read more...]
White House Lowers FHA Streamlined Refinancing Fees
As many as three million borrowers with government-insured mortgages may be eligible for lower borrowing costs when they participate in streamlined Federal Housing Administration (FHA) refinancing, according to the White House Administration on Tuesday, March 6. The fresh round of changes from the administration affects loans the Federal Housing Administration insures and would reduce fees on those mortgages for borrowers previously unable to borrow at lower … [Read more...]
Importance of DD214 form
Many years ago the Paradise Valley real estate market saw an influx of veterans and families of veterans relocating to the area. This may be particularly useful information. The VA streamline refinance loan, or IRRRL, has a number of benefits to veterans wanting to refinance their VA loan. It requires little paperwork, but there are a few documents that are required to process this loan. One of these documents is the veterans DD 214 form . What is the veterans DD-214? It … [Read more...]
