FHA Back to Work – Extenuating Circumstances program changes the waiting periods for some individuals and households who have suffered economic hardship over the past few years. Wait times have been shortened to a minimum of 1 year.
The mortgage environment has evolved full circle from strict requirements to qualify to very loose requirements back to strict requirements again. The result is a new mortgage industry where home buyers can basically count on relatively standard qualification requirements. Learn more about how the rules of mortgages have changed from the past to now.
Many people have weathered the latest recession (since 2008) by starting their own business in the past few years (2010, 2011, 2012 for example). While being self employed can have great advantages and bring a lot of freedom, it can be very challenging when it comes to qualifying to buy a home. Even with great […]
Overview of the upfront costs to buying a home including down payment and approximate costs for appraisal and other required third party services.
Learn what documents you’ll need to provide in order to qualify to buy a home in 2012 – especially for Arizona, California, Idaho, Texas and Connecticut.
Waiting periods following a short sale, foreclosure or bankruptcy explored for 2012. Learn what options you have for owning a home and financial hardship.
Buying a home in Phoenix AZ is much easier if you prepare for the loan program requirements that you qualify for. Fit into a mortgage program first. Some requirements are greater than a 620 credit score, have at least 3% down payment or qualify for a down payment assistance program.
Learn some of the reasons why Time Magazine in Sept of 2010 argued that homeownership is no longer – or should no longer be the American Dream and that belief in this American Dream has lead the US to the Mortgage and Real Estate Crisis of 2007-2008.