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 »

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

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 »

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 »

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

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 »

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 »

Most mortgage programs in the US are limited to US citizens or permanent resident aliens (aka “Green Card” holders); options still exist for many non-permanent resident aliens, however. Read the rest of this entry »

Most lenders are currently requiring between 3 and 6 weeks to close loans (and in some cases as long as 2-3 months to close refinance loans); due to our extensive network of wholesale lenders through whom we broker loans, on the other hand, Ethical Homes can help borrowers with severe time constraints to close loans in just a few days. Read the rest of this entry »

Two laws that went into effect in 2009 have severely affected how quickly mortgage loans can go to closing; loans can currently generally close no faster than 9 calendar days after processing on them starts. Read the rest of this entry »