What is a Loan Modification?

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Recently, we were asked by local morning talk-radio superstar Darrell Ankarlo at KTAR to be on his show and to briefly talk about the most recent proposal by the FDIC to encourage lenders to modify people’s mortgage loans by guaranteeing against some of the losses. We noticed a theme among those people who called in: [...]

FHA 203(k) Loan Program – Part 2

If you are considering the FHA 203(k) program but are finding that there is a lot of hassle with getting a general contractor, consultant and plans – you may be better off by going with the FHA 203(k) streamline program. The FHA 203(k) streamline program can be used for purchasing a house or refinancing an [...]

FHA 203(k) Loan Program – Part 1

The FHA 203(k) program is different than most other home mortgage financing options in that the 203(k) loan accounts for the value that the house is *going to be worth* once repairs are done. There are 3 eligible situations where an FHA 203(k) mortgage can be done: To purchase a house on a plot of [...]

VA Loans Are A Great Option For Veterans

VA loans were designed to help veterans of the armed services, either currently serving in active duty or in the reserves, as well as their spouses.  In order to qualify for a VA loan, a veteran must meet the eligibility guidelines set by the Department of Veterans Affairs.  VA Loans enable veterans that qualify to [...]

Mortgage Guidelines Getting Tougher

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Why is it a great time to buy a house? Because you can expect mortgage guidelines to get tighter in the coming months and it will be more difficult to get a loan in the future than it is today. Recently both Fannie Mae and Freddie Mac have announced guideline changes for mortgages that they [...]

Great Mortgage Programs Still Available For Phoenix Homes!

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In recent weeks, the news coming from the financial markets has been generally negative. Does the negative press mean that the banks have quit lending money to people who are interested in buying homes? Absolutely not. There are still quite a few great loan programs available for people who are interested in buying a home. [...]

Mortgage Tuesday Report on Phoenix Housing Blog

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We are happy to be bringing you the Arizona Mortgage Rates Report right here every Tuesday! Tune in each week to see what the current mortgage rates report looks like as well as a brief excerpt of a mortgage-related topic. Mortgage Tuesday News With the passage of last week’s Emergency Economic Stabilization Bill of 2008, [...]