KCM Blog

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FHA

FHA 203(k) – Understanding Its Real Value – Part 2

March 5, 2010

Here is Part 2 of Skip Schenker’s two part series on understanding the FHA 203(k) and its real value. In case you missed yesterday’s, here is a link to Part 1.
How Is the Appraisal Completed?

The appraiser is given a detailed report from either a licensed contractor [for the “Streamline” 203(k)]; or from an FHA 203(k) [...]

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FHA 203(k) – Understanding Its Real Value – Part 1

March 4, 2010

Many readers have requested a post on the FHA 203k program. I was lucky to meet Skip Schenker, a national expert and instructor on the subject, while we were both speaking at a conference in Dallas last month. I asked him to share some of his thoughts. Here is his contribution. – Steve Harney
The FHA [...]

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Buyers and Sellers Team Up on Financing

February 11, 2010

Let’s start with the premise that buyers do NOT buy big ticket items (like a home or a car) based on its sales price; rather, they buy based on their proposed monthly payment (or cost).
Additionally, when looking to sell your home with so much availability of homes on the market, the biggest challenge a seller [...]

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Fed Flip-Flops on House Flips

February 3, 2010

Finally, some good news from the FHA. Effective February 1st, the FHA is waiving their requirement of the “90 day holding period” before home sellers (predominantly real estate investors and speculators) can resell a piece of real estate to a buyer who uses FHA Insured financing.  Given the recent increase of the UFMIP, coming reduction [...]

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New FHA Rules

January 21, 2010

Today, after weeks of speculation, the FHA announced their plan to secure the solvency of the Insurance Fund.  And it is NOT good news for Homebuyers, and therefore, NOT good news for sellers either.  I’ll discuss the particulars in a minute; but first, let’s look at how this is the THIRD nail in the coffin [...]

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6 Questions You Should Ask Your Lender

January 6, 2010

This article is brought to you by guest blogger and mortgage planning specialist, Dean Hartman.  Feel free to leave Dean any questions or comments below.
More and more, consumers are learning that there is much more to getting a mortgage than just the interest rate and points.  A good mortgage planner is more in the advice [...]

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Money to Purchase AND Renovate Your Home

December 17, 2009

Whether you are looking at a Foreclosed Home, Bank REO, a Short Sale, or any home really, you need to be aware of the FHA 203K Program.  The general condition of real estate has taken a dip over the past few years, as homeowners are not sprucing up their homes as they have in the [...]

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Mortgage and Tax Credit News

December 9, 2009

Hello KCM Community!
It is our pleasure to introduce to you veteran mortgage planner (and today’s guest blogger) Dean Hartman.  Yesterday we looked at interest rates and why buying now might be a good financial decision. Today, Dean will take us a few steps further and look at other reasons to move forward on the purchase of [...]

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