Buying short sales with FHA home loans

With thousands of new home entering the foreclosure process every month in each market area the question arises ever more frequently, “Can I use an FHA loan to purchase a short sale property?” For the readers not familiar with short sales let us first define the term as it applies to real estate. As “short […]

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Property Types Allowable For FHA Mortgage

Property Types Allowable for FHA Mortgage FHA will insure the following types of properties: • Detached 1-4 units • Semi-detached 1-4 units • Townhomes • Row Houses • Individual units with FHA approved condominium project The property types that meet the above criteris must still meet all other FHA requirements for condition, marketibility and title […]

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Not Able to Catch the Last Minute House Deal? No Worries!

A lot of house buyers are worried about not being able to ourchase a property before April 30 because of the finishing of the subsidary period. The hustle and bustle around closing the house buying deals before April 30, caused by the stopping of the $8,000 dollar first time homebuyers credit or the $6,500 current […]

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Real Estate By State

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Top 5 Real Estate Predictions for 2009

1. Little or No Appreciation as Market Bottoms In parts of the country hardest hit by 2007 – 2008 foreclosures such as California, Michigan and Florida, prices will continue to soften. In scattered markets, the bottom will already have been reached by April but media won’t report it until late summer, after a trend has […]

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Before You Buy a Short Sale

Buyers pursue short sales to get a good deal. So when you see a price listed for a home that you think is too low for the neighborhood, before you jump on that price like hot fudge on a sundae, ask your agent to call the listing agent to find out if the home is […]

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Buying Distressed Homes: Foreclosures, Short Sales, REOs

Foreclosures, short sales and REOs remind me of, "Lions and tigers and bears, oh, my!" The latter are dangerous animals but different from each other — just as foreclosures and short sales and real-estate-owned (REOs) are distressed sales but different from each other. However, they are also similar because without knowledge about handling foreclosures, short […]

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5 Nasty Foreclosure Rescue Scams to Avoid

According to RealtyTrac, a whopping one in 54 homes received a foreclosure notice last year. That’s 3.1 million foreclosure filings. Scared yet? An ever-increasing pool of foreclosure rescue scammers are drooling at the prospect of capitalizing off your panic. And so far, they’re doing pretty well. From forgery to title transfer, these scamsters–some of them […]

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Worst 25 Forecast Housing Markets in 2009

The good news is that falling home prices don’t historically keep dropping for a number of years very often. The fall out from the credit crisis is affecting real estate values from coast to coast. There’s no shortage of markets throughout the country that will sustain double-digit declines in housing vales in 2009 as the […]

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Halloween Holiday Trivia

Orange and black are Halloween colors because orange is associated with the Fall harvest and black is associated with darkness and death. Jack o’ lanterns originated in Ireland where people placed candles in hollowed-out turnips to keep away spirits and ghosts on the Samhain holiday. Pumpkins also come in white, blue and green. Great for […]

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