New FHA changes may be coming soon as HUD asks for consumer input on three issues that would affect borrowers. I wrote about these possible changes in January, in my post "More FHA Changes to Happen Mid Summer." Also in January, HUD made major changes in FHA fees and upfront mortgage premiums. These changes are [...]
On April 8, 2010, FHA sent out a mortgagee letter stating that the FHA approves electronic signatures on documents, including contracts. This is wonderful news, as I have recently begun to use Docusign electronic signatures for the convenience of my clients. I also wanted to use this to prevent the use of paper as much [...]
In an attempt to move foreclosed properties more quickly, HUD has temporarily waived the 90-day ownership guideline, making these foreclosed properties available to FHA homebuyers. RISMedia reports that: In today’s market, FHA research finds that acquiring, rehabilitating and reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA [...]
Towson Condo Owners have a new issue to grapple with. First there was the change in the laws for condo insurance converage. Now we have the new FHA condo guidelines that may affect many people who want to buy or sell a Towson condo! HUD announced this change in July, and the new guidelines were to take place [...]