Come January 2010, the federal government has mandated a few new forms to be used on real estate and mortgage transactions. There is a new HUD1 Settlement Statement and a new Good Faith Estimate. The HUD1 is a document that is signed at closing to document the final cost associated with the transaction. The Good [...]
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FHA has permitted streamline refinances on insured mortgages since the early 1980′s. The “streamline” refers only to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction. The basic requirements of a streamline refinance are: Tweetgovernment,politics news,politics news,politics
FHA is rolling out some changes on January 1st, 2010. One of the big changes is the restrictions on FHA Streamline Refinance transactions. If you don’t know what a streamline refinance is, it’s the ability to refinance a current FHA loan without the need for a new appraisal, no income or asset documentation, pretty much [...]
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Can you believe that Kokomo, Indiana is the #1 most affordable City in America? Last month we led the nation with the highest unemployment rate. I’ll take most affordable housing market any day of the week! Check out the complete top 5, including pictures and interesting points of interest. You can read the full article [...]
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