8000 bridge loan for first time home buyers

FHA mortgages will soon be a lot better for home buyers and first time home buyers. Hud and FHA plan on giving buyers an $8000 bridge loan that they can use now to buy a home rather than wait to get their refunds. Not all of the details to this program have been outlined yet. Hopefully this will stimulate the housing market further.

FHA tax credit program

6 Ways to Improve Your Fico Score

The six ways to improve your fico score are:

1. Pay down your credit balances
2. Increase your credit lines
3. Have a good credit blend
4. Make your payments on time
5. Call your creditor to see if they will re age your account
6. Credit Restoration

Additional Credit Information

10000 California Tax Credit

You can get a 10000 tax credit just for buying a home in California. This is more than the 8000 tax credit that is available in the rest of the country. This is a great time to buy and now the government wants to give you a tax credit, giddy up.

10000 California Tax Credit

8000 Tax Credit for First Time Home Buyers

A HomePath Mortgage may be the way to buy your first home

I'm not a big advocate of going into debt but buying a home to me would be an exception. You have to live somewhere and if you are not independently wealthy you will probably have a monthly housing payment. A HomePath Mortgage has many advantages.

A HomePath Mortgage may be a better option than an FHA mortgage. A HomePath Mortgage only requires 3% down whereas an FHA mortgage can require 3.5% down. There is no PMI insurance on a HomePath Mortgage. An FHA mortgage has mortgage insurance as well as a 1.5% funding fee up front ouch. There is no appraisal required for a HomePath loan.

Home Path mortgage information

8000 tax credit for first time home buyers

The 8000 tax credit can make a huge difference in buying your first home. I'm not a big advocate of going into debt but you do need to live somewhere. You might as well buy a home.

8000 tax credit explained

Ask your lender to Produce the Note - strategies to stay in your home if you are facing foreclosure

You may want to ask your lender to produce the note if you are facing a foreclosure. You may be able to stave off foreclosure if your lender cannot produce the original mortgage documentation. A lender must be able to provide the original mortgage documentation to be able to proceed with a foreclosure in most states. If you are not getting anywhere with a loan mod with your lender this may be a great alternative.

Read More

FHA Raises Loan Limits, help may be on the way to the Real Estate Market

The Fha loan limits have been raised. In Maricopa County they went from $270,000 to over $346,000. This should more people be able to buy more expensive properties. I think the next step is to raise conforming loan limits as well as allow people who have a good payment history to refinance even if they are upside down. President Obama seriously needs to take a look at this as well as bringing back some of the down payment assistance programs like Ameridream.