Lenders Choke The People Looking to "Buy And Bail"
September 23, 2008 by admin · Leave a Comment
FHA and Conventional Loan guidelines were revised this morning, this time to prevent the so-called “buy and bail” folks trying to escape their overpriced mortgages.
Haven’t heard of a “buy and bail” scenario? It goes something like this:
Until now, people who decided to rent their home instead of sell it were allowed to claim 75% of [...]
Fannie May and Freddie Mac Takeover (Socialization)- What does this mean for homeowners?
September 6, 2008 by admin · 7 Comments
There’s been quite a few stories this evening about the Fannie Mae/Freddie Mac Takeover(Socialization) this evening. The first question on many people’s minds is: What Does This Mean To Me?
I’m not going to muse on the repercussions of holding their stock (ask the wall street analysts, but it doesn’t look good), but I do want [...]
Hope for Homeowners Act of 2008; Who does this help in Maryland?
July 30, 2008 by admin · Leave a Comment
It’s official: The Hope for Homeowners Act of 2008 has been signed by the president and now we shall see who this helps. For struggling homeowners in Maryland, here’s a quick breakdown of the criteria to qualify:
In order to apply for this program, you must:
Have a loan originated prior to 2008
Be paying paying more than [...]
FHA Lending Limits Change
March 7, 2008 by admin · Leave a Comment
We’ve been expecting to see this, but the new lending limits for FHA loans in Southern Maryland have been published (fair warning: this is kinda dry information, add water as necessary).
For Charles County and Calvert County, the new limit for a FHA loan on a single family home is $729,750. For [...]
