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Recent Lending Guide Articles

Posted on September 06   By MLP Lending Guide
The news outlets have been abuzz since Fridays announcement by the president about a new program called FHASecure. So just what is this product that is supposed to save Americans from the sub-prime fiasco? FHASecure is a new refinance option that is being offered to borrowers who have a good credit history and were making on-time payments before their adjustable-rate mortgages reset. The program has stringent underwriting guidelines and borrowers will have to pay a mortgage insurance premium.... Read More...
Posted on September 05   By MLP Lending Guide
An Alt-A loan, also called an alternative documentation loan, is a loan that holds borrowers with good credit to different approval standards than traditional loans. Those applying for an Alt-A loan need not provide income verification or documentation of assets. Instead, the approval for an Alt-A loan is based primarily on an individual's credit score. People who are great candidates for Alt-A loans include the recently divorced, entrepreneurs, the self-employed, and those who are paid on commi.... Read More...
Posted on August 27   By MLP Lending Guide
We've been talking about it for weeks, and it looks like the national mainstream media is finally catching up. This headline in a recent Philadelphia Inquirer story pretty much sums up what we've been harping on: "Going FHA Back in Vogue." Here's the first sentence of this Harold Brubaker story on the Federal Housing Administration's resurgence given the continuing subprime crisis: As the mortgage industry goes through a wrenching retrenchment, government-backed loans for first-time homebuyers.... Read More...
Posted on August 22   By MLP Lending Guide
With the recent turmoil resulting from sky rocketing adjustable rate mortgages (ARMs) many people are looking for a way to refinance from their current adjustable rate mortgage to a fixed rate mortgage. For a large number of individuals, refinancing may be the only way to not lose their homes. Although not for everyone, there is the possibility for the FHA to assist a large number of people through refinancing. The ideal candidate for an FHA refinance is an individual who already has an FHA ho.... Read More...
Posted on July 16   By MLP Lending Guide
Talk of hybrid automobiles, green building design and construction and energy conservation is all the rage as fuel costs continue to soar. But, amazingly, federal officials actually recognized more than a decade ago the benefits of energy efficiency when it comes to saving money. Congress in 1995 expanded a small pilot program of the Federal Housing Administration nationwide, bringing Energy Efficient Mortgages to a wider audience. The FHA, which is not a lending agency but insures mortgages, i.... Read More...
Posted on June 13   By MLP Lending Guide
June is National Homeownership Month and HUD and the FHA have planned a month filled with activities across the country. The theme this year is Promoting and Protecting Homeownership, which strongly emphasizes consumer education about loans and the lending process. Here are a few of the events taking place across the nation: Native American Housing & Homeownership Fair in Portland, Oregon Homeownership Community Party in Aiken, South Carolina Atlantic City Housing Authority Housing Symposi.... Read More...
Posted on June 07   By MLP Lending Guide
AHF (Affordable Housing Finance) published a list of the Top 10 Ways to Improve the HUD in light of all the troubles currently being seen in the housing market. It's a truly insightful and well thought out look at what should happen to the infrastructure and the policies of the HUD moving forward. It's worth 15 minutes of your time. Check it out here..... Read More...
Posted on May 25   By MLP Lending Guide
Chapter 13 and FHA Loan Suggestions Bankruptcy can be a troubling time for anyone. You arent given much room to decide how much to pay the trustee and many are just struggling to get by. A home loan seems almost out of the question. How can you get a loan when youve recovering from a Chapter 13 Bankruptcy? One option that many people do not know about is a FHA Loan. Potential borrowers are not automatically turned away from a FHA loan just because of a bankruptcy. Some important facts to r.... Read More...
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