Hot off the Press: The new HUD and Good Faith Estimate
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 [...]
Monday’s on WalletPop – The Benefits of a Mortgage Escrow
Streamline your FHA Mortgage
FHA has permitted streamline refinances on insured mortgages since the early 1980’s. The “streamline” refers only to the amount of documentation [...]
Tuesday’s Tip – FHA Streamline before it’s too late!
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 [...]
