Lynne Pope

Possibly this is the fact as well. They can’t take any loan after a stop date in the next month. So like a hobbling bird in the desert, injured, a big bird of prey will swoop down and take it to a new time. This could be the story of anybank. It could be the lender that you choose. They will  be liquid. I heard this today 5/8//08 in Torrance, California

4000- Four Thousand People have been given a loan recast in the last month.

I will confirm my source and get assurances and further information tomorrow and add to this.

It only makes sense. I took them some time to figure out that foreclosures are just cutting too deep.

Look at each lender as a ship. They are weighted down and sinking. They hope someone buys them and sends

out a life boat. They don’t look so great out there weighted down, sinking and throwing customers overboard all day long.

They became reconnected to their hearts. The business of losing the whole enchilada vs keeping the customer, and a loan that someone who lives in their home, can live with paying. Its just right and about time.

Four Thousand people in one month…I pray it continues.

Wake up America,  Your country is shaking as the dragon of the FHA awakens and stretches. Lenders that did them years ago are coming back into the sunlight of

day and this is after the other Realtors from the 1990`s are selling foreclosures in droves. Some agents say Hey, let me into that market! You have to be kidding the other agents say back. I paid dearly for this place. I gave up family time, life energy and everything else as I ran with the tail of a tornado. Its a new day and FHA is the lender of the hour with a 3% down no nonsense loan. 15 year or 30 years and that is the top lending deal for 2008. The new price point is 729,750. in Los Angeles. So you can actually buy a home, That is if you have a job and pay stubs and money for gas for your car. Don’t give sour grapes to the dragon, this may be the sweet sleepy  just woke up time that the dragon is nice.

I never pictured this before. FHA seemed like a bunch of guys in a smoke filled room with Fannie Mae some old grandma with an apron and nylons crumpled around the ankles. 

The Federal Housing Administration www.hud.gov/offices/hsg/fhahistory.cfm.  

Attractive seemed like a joke when I heard it. So I had to ask. Here goes.

1.  Buyers 3% down

2.  No deduction of 5% in our downturned market

3.  30 or 15 year fixed up to 729,750.

4.  Gift ok if not seller or agent

5.  Some condos were FHA approved by builders

6. Website  www.hud.gov to see if the condo you want is FHA approved

7. Impound accounts ( I have heard that a seller can pay closing costs recurring and non recurring

8. What goes around comes around and so did FHA

9. You get what you pay for and the FHA is going to make sure it’s only a house

10. There is little liquid money out there…and the feds are coughing up some “paper stuff” to help the buyers buy a home with what paper money is left after all the Big Deal Businessesbail outs, we know they are in trouble and we better get some house while we can. Will interest go up?   Y   E   S  it will.

I heard about a lady who refinanced 4 times..Each time she got another Heloc.

She was just collecting some more credit cards, so she thought. Then it was time to sell that house. Escrow and Title were going along just fine.

 Somehow it came up that she had a Heloc, and it was never recorded. And guess what? Neither were all the others. And when she went to the bank in person to freeze them they said use that phone over there and call, its not our department. And, it takes about 3 weeks to get that paperwork done, and we are not sure who is even in charge over there now…so many changes lately,  you know.

So the escrow could not close because the Heloc was for 200K, but I didn’t borrow more than 19K for the upgrade to the lawn. They want to hold the whole 200K and its not even spent. Does that sound fair? And who cares anymore whole companies are gone. What is one escrow? So the moral of the story is this:

If you are selling your home. Freeze that Heloc right away as the Realtor is calling for the post in the yard. That is…if you want to close when you are ready and not wait on the time and whim of whoever is left at the bank.