Elk Grove Real Estate – Sacramento Real Estate – Short Sales – Distressed Property Solutions, Stacey Wilson Realtor CRS

Release: FHA Launches Short-Refi Opportunity for Underwater Homeowners – September 7, 2010

Posted on 04. Sep, 2010 by Stacey.

 In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today provided details on the adjustment to its refinance program which was announced earlier this year that will enable lenders to provide additional refinancing options to homeowners who [...]

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Strategic Default?

Posted on 10. Aug, 2010 by Stacey.

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Posted on 17. Jul, 2010 by Stacey.

Click here if you or someone you know is having trouble making the mortgage payments…

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Buyers and Financing: What are loan deal killers?

Posted on 04. Jun, 2010 by Stacey.

What you should know about the market: When applying for a home loan, one of the factors lenders consider is the percent of the borrower’s income used for housing expenses, as well as the borrower’s other non-housing related debt.  Although this amount can vary by lender, typically lenders consider a housing-and-debt to income ratio of [...]

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Want a loan modification? Get your paperwork ready.

Posted on 03. Jun, 2010 by Stacey.

Attention delinquent borrowers: If you want to get into the Obama administration’s mortgage modification program, you’d better have your paperwork ready.  New Treasury Department guidelines that went into effect on June 1 require loan servicers to verify applicants’ income and financial hardship before placing them into trial modifications. To read the full story, please click [...]

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Seller concession rules for FHA mortgages to be changed

Posted on 03. Jun, 2010 by Stacey.

One of the key attractions of FHA home mortgage financing is going, going, but not quite gone. Sometime this summer, the Federal Housing Administration plans to slash maximum “seller concessions” from 6% of the home price to 3%. Sellers and buyers who move fast can still make the most of it. To read the full [...]

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After foreclosure: How long until you can buy again?

Posted on 03. Jun, 2010 by Stacey.

Financing a home after foreclosure is possible for most homeowners. Those who default on their mortgages due to economic hardships, such as job loss, may receive approval for another mortgage in as little as two years, while it may take more than seven years for strategic defaulters to be approved. Keep this in mind: Lenders [...]

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NAR weighs in on seller financing

Posted on 19. Feb, 2010 by Stacey.

Will the Secure and Fair Enforcement Mortgage Licensing Act (SAFE Act) bring an end to seller financing?  On Feb. 12, NAR President Vickie Cox-Golder sent a letter to the U.S. Department of Housing and Urban Development (HUD) urging them to expand the seller financing exemption from new SAFE Act mortgage licensing requirements. The SAFE Act requires [...]

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