Ethical Homes

Sustainable Mortgage & Real Estate Solutions

Mortgage modification overview

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Mortgage modifications are proceeding slowly, and while some homeowners have been able to benefit greatly from them, many others are being hurt just by trying to achieve them. Read the rest of this entry »

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FHA announces assistance for “Chinese” drywall homeowners

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FHA has announced a program whereby homeowners with FHA mortgages who have been affected by recent issues with defective drywall can temporarily suspend or reduce payments on their mortgage in order to give them the additional cashflow that they might need to deal with those drywall issues. Read the rest of this entry »

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What is credit?

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A very brief overview of credit reports and credit scores. Read the rest of this entry »

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FHA announces new guidelines for post-short-sale mortgages

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FHA just released mortgagee letter 09-52, which lays out the guidelines under which borrowers who have previously completed a short sale of a property can qualify for a new mortgage using FHA financing. Read the rest of this entry »

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Easily Contact Hypothermia Shelters in the DC area

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As we prepare in the DC area for what’s expected to be our first big snowfall of the season, many of the area’s homeless population will find themselves without adequate shelter; here are some phone numbers that every local resident should keep handy so that they can request assistance for anyone they see who might need it during the upcoming weeks. Read the rest of this entry »

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Construction / Acquisition & Development Loans

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Acquisition & Development loans of up to $500 million are available for commercial construction projects. Read the rest of this entry »

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Bridge Loans Help Borrowers With Short Term Funding Needs

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Real estate transactions sometimes don’t go as planned; when temporary setbacks occur, bridge loans can help borrowers with short-term loans that give them time to resolve any issues that may have cropped up. Read the rest of this entry »

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Mortgage Scenario Snapshot 12/5/09

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Here’s a quick overview of current mortgage rates/payments for some typical scenarios that we have run for consumers recently. Read the rest of this entry »

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Condos With High Investor Ratios

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Most lenders cannot get underwriting approval for mortgages on condos in developments with a high proportion of investors vs. owner-occupants; many options do exist for condos with investor ratios of up to 49%, however, and for borrowers who are putting at least 20% down, investor ratios can sometimes be even higher. Read the rest of this entry »

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FHA announces plans to make FHA loans much less appealing

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In testimony before Congress today, HUD Secretary Shaun Donovan announced plans to reduce the risk that FHA is exposed to in its loan insurance operations; these plans, however, will make FHA loans much less appealing to many borrowers, and may slow down the nascent recovery in the housing market. Read the rest of this entry »

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