FHA

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Can Builders Lend After A Short Sale?

September 9, 2011March 6, 2019 By Diane Gerdes

Question: My clients visited a national builder who insisted that their lender can immediately approve mortgages to previous homeowners after a short sale with lates. Can they really lend on a home after a short sale?

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What Are Flipped Properties?

July 6, 2011March 6, 2019 By Diane Gerdes

Question: We have identified a home we would like to buy but we were told underwriting may require two appraisals. Why?

Answer: The home is probably a “flip” or in layman terms: a property that has changed ownership within 90 days. An investor bought the home at auction or as a short sale, and has placed it back on the market, for a profit.

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Why Can’t I use my VA Eligibility?

June 23, 2011March 6, 2019 By Diane Gerdes

Question: My client currently rents an apartment in California. He is also employed in California.
He has never owned a home and wants to buy a house in Arizona. Can he use his VA eligibility?
Answer:

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Pulling A New Credit Report at Funding

June 22, 2011March 6, 2019 By Diane Gerdes

Question: Why are some lenders pulling another credit report before funding a loan? Could that prevent a loan from closing?
Answer: Undisclosed Liabilities – Fannie Loan Quality Initiative FAQ (5/28/10 & 6/7/10) the boring title for another exciting change in our industry. (Think positive thoughts)
Before you pound your head on your desk

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HUD REO Financing

June 21, 2011March 6, 2019 By Eric McAllister

What do you know about
HUD REO FINANCING?
Come to a lunch and learn more

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Gnomes, Dog Food and Ceilings

June 17, 2011March 6, 2019 By Diane Gerdes

The looming deficit crisis and the fear of a government shutdown, forced our family to implement our own austerity program: We parked the SUV with the gnomes (that did not make the small creatures happy, they had to raise their height limit in our garden); my beloved Chihuahua, Diego…

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Volunteering

June 16, 2011March 6, 2019 By Diane Gerdes

Good morning, I am April Gerdes with The Mortgage Advantage, and I would like to talk about volunteering this morning. With our economy in the position it is – how could you not be a little frustrated? Sad? Or maybe even a little depressed. Whether you are a real estate agent, and you have had more deals fall apart than

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After A Short Sale Can I Buy A Home ?

June 15, 2011March 6, 2019 By Diane Gerdes

Question: My Client sold his home with a short sale and now wants to purchase another home. What are the options?

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Does HUD Allow Holdbacks?

June 3, 2011March 6, 2019 By Diane Gerdes

Question: Are Escrow Holdbacks Allowed on HUD Homes?

Answer: Yes, but with restrictions.

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Wash that oil right out of your life?

May 6, 2011March 6, 2019 By Diane Gerdes

Did you go buy a new electric car or a Hybrid to overt the oil crisis? Me neither. But with rising gasoline prices my contribution to save the environment and my pocketbook, is parking my gas swilling SUV parked in the garden with the gnomes.

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