More homeowners are relying on forbearance to ride out the pandemic

Homeowners are increasingly relying on forbearance programs to avoid going into foreclosure due to the COVID-19 pandemic. Around 37,000 mortgages were added to forbearance programs in the week ending Dec. 15, which means the total now stands at 2.787 million loans. That’s about 5.3% of the U.S.’s total of 53 million mortgages, Black Knight data

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Unconventional loans grow in popularity

With home prices on the rise, a growing number of buyers are turning to unconventional types of loans to finance their purchases, especially in some western southern markets. Unconventional financing now accounts for around 28% of the new home build market, according to a new analysis of U.S. Census Bureau data by the National Association

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Low/No Cost Mortgages Are Expensive

There are still low and no down payment mortgages on the market but buyers need to be aware that these tend to actually be expensive options in the long run. For instance, FHA loans are among the most popular low down payment guaranteed loans. Due to insurance losses over the previous seven or so years,

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FHA Set To Raise Premiums on Mortgages

The Federal Housing Administration has just announced plans to raise premiums on most new mortgages by 10 basis points (0.1%), meaning that the average borrower can expect a $13 increase on their monthly repayments, according to reports.

Fannie Mae Report: Housing Market Transitions to a New ‘Normal’

Most real estate watchers are in agreement that markets are getting better, but whether or not we can say that means things are returning to ‘normal’ remains to be seen. We’re seeing a recovery of sorts, but a closer look at the stats reveals numerous anomalies in the state of the real estate market’s health that would seem to suggest that we’re far from a return to ‘normal’ conditions.

Using FHA to Pay for your Investment Rehab

Short sales and foreclosures are the two most prevalent vehicles for investors looking to purchase distressed properties at a discount. However they are not easy on either the nerves or the wallet. Almost all of them require some amount of rehabilitation and remodeling, along with bringing current any deferred maintenance the property may have suffered while it was sitting empty

Lending Options for Buyers in the Military

For the vast majority of Military homebuyers, the VA Loan program is the most powerful and cost-effective mortgage program available. This government-backed program comes with benefits directly catered to military veterans and a procurement process that is second to none.

Real Estate Money Basics – 10 Ideas For Financing a Home

There are many different ways to find financing to buy a home. But most folks are only aware of just one or two options. Generally, financing for a home can be broken down into two major categories: “Traditional” and “Non-Traditional”.

New FHA Changes, Again

Today’s turbulent Real Estate market makes for a tough environment for homebuyers. There’s more red tape, which means more hoops to jump through for financing, closing loans is taking somewhat longer than it did in recent years, and there are seemingly ever-increasing costs to consider.

Stewart Lender Services Introduces FHA Qualification Package

Stewart Lender Services, in conjunction with Spectrum Field Services, announced the availability of a new qualification package for investors that provides them with a comprehensive analysis of loss recovery for REO assets.

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