Last week I posted and sent an Arizona Mortgage Update
concerning revisions to FHA Loan guidelines that could really
affect some closings. If you have a client that will be a FHA Loan
borrower and they are self-employed, have disputed credit accounts
, or a collection account you will want to read this first.
Click here to access Arizona FHA Loan
Then have your client talk to us about it upfront. We can
eliminate any last minute problems that could effect the FHA Loan
Always here to answer your questions.
The HARP Refinance Program in Arizona is now up and running full
speed for Arizona homeowners who owe more than their homes are
worth and wish to refinance to stay in their current homes. Updates
to the Arizona Mortgage Lending systems were recently completed
allowing the program to take full effect in Arizona.
I'm currently taking HARP Refinance mortgage applications and
have full instructions for eligibility posted on my site in the
Arizona Mortgage Update.
Read Arizona HARP Refinance
Program Guidelines Update
HARP 2 is unique in that it is the only conventional mortgage
refinance in Arizona that allows Arizona homeowners who owe more on
their home than it is worth the opportunity to refinance at today's
low interest mortgage rates!
My Arizona HARP Team and I are always here for any
Arizona's HARP 2 mortgage refinance program is finally
available! Updates to the mortgage lending systems were completed
over the past weekend and the HARP 2 program is ready to process
mortgage refinances in Arizona.
I posted the key points, eligibility guidelines, and the steps
needed to get an Arizona HARP 2 mortgage refinance started.
To read my Arizona HARP
Update or access the link to forward the HARP 2 guidelines to
friends, family, and clients - just click here.
I've been taking mortgage applications and the HARP process has
started, please contact me if you have any questions regarding HARP
in Arizona or any mortgage questions.
Two weeks ago I sent out a mortgage update that went over some
"Need to Knows" concerning property flips and obtaining a mortgage
in Arizona for one. I listed a few key items to keep in mind before
writing a contract. I am getting agents asking for the link so they
can pass on to others in their offices and review with clients as
they work an offer up.
Here is the
link to read more about this.
Communication between all parties before a contract is written
is really the key! It also takes an experienced Arizona mortgage
lender to really understand the intricacies involved in these
purchases and our Arizona market.
I'm always available to answer your questions!
What a crazy week it was last week. I was in NYC for a few days
with my husband for his business and then was in Cal. for a
mortgage coaching event. I forgot to get this posted.
I updated everyone in Arizona concerning more details on HARP
2.0, the Payroll Tax Cut, and the impact on Arizona home
To read it if you didn't see it, click here
for HARP 2.0 Update.
This year has been off to a very busy start....thank you!
The FHA property flipping waiver was set to expire On Dec. 31st
of 2011 has been extended through December 31st of 2012!!! Great
news for the Arizona mortgage and real estate market. For now all
terms of the existing waiver remain the same. It may have been some
time since you reviewed the FHA Loan rules on properties flipped
and owned for less than 90 days in Arizona.
Click here to
read some reminders that may be helpful.
Over the next several months I'm going to address some of the
many questions I get regarding credit, scores, repair, and more. We
will tackle a few issues and share some credit tips in an easy to
read and understandable format for those of us in the Arizona
mortgage and real estate industry as well as our friends, family,
Click here to read
the complete update on the "Basics of Credit" including scores
and what are they and where do they come from.
In our current market, there are many who have had a short sale,
foreclosure, or bankruptcy and don't know where to start to
reestablish their credit. Feel free to share this information as
well as my website www.buyingahouseafter.com.
We received word yesterday that Fannie Mae and Freddie Mac's
automated underwriting systems will not be ready until March 2012.
This could delay the rollout of the program. More to come on this
as the mortgage industry, banks, and investors of mortgage backed
securities process the viability of this program.
I'm still very hopeful that many Arizona homeowners will
benefit. I promise to keep all of you updated as I learn more.
To date we all have heard bits and pieces of the upcoming HARP
Refinance Program. There are still many fluid pieces that are being
worked out with regards to how and who would be able to process the
refinancing of mortgages for Arizona homeowners.
First and foremost, the current mortgage must be owned or
insured by either Fannie Mae or Freddie Mac to be eligible. To read
more key points and get the links to check a mortgage's eligibility
with Fannie Mae and Freddie Mac, read my HARP Refinance mortgage
update that was emailed and posted last week.
I will keep all of you informed as more details are
Using an authorized user account to help a spouse or child can
be a good idea to help them establish or re-extablish credit. But
this should be only for short term and should be looked at before
thinking about applying for a mortgage.
Mortgage guidelines now require borrowers be romoved as
authorized users before approving a mortgage application. Planning
ahead and taking the right steps will ensure the borrower is ready
and able to obtain a mortgage. With so many first time buyers in
our Arizona market it's important that we are constantly being
updated to the most recent Arizona mortgage guidelines.
read the whole market update, click here.