FHA Loans Oregon » mortgage planner

Reverse Mortgage: Is it right for you?

Fred Chamberlin — Fri, 06 Nov 2009 19:42:24 +0000

Reverse mortgages are becoming popular in America. HUD’s Federal Housing Administration (FHA) created one of the first. The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements and more. Since your home is probably your largest single investment, it’s smart to know more about reverse mortgages and decide if one is right for you

Reverse Mortgage: Is it right for you? is a post from: FHA Loans Oregon

FHA underwriting guidelines vs. Lender Overlays

Fred Chamberlin — Mon, 02 Nov 2009 19:06:41 +0000

Many people may not understand the difference between an FHA underwriting guideline and a lender overlay, but I am going to try to explain it here, because there are some very interesting things happening in this arena currently. First of all, where a lot of people get confused is what is an FHA Insured Loan? Basically, it means that FHA insures that the loan will perform, it does not mean that FHA is loaning the money for the home loan and this is where the difficulty begins.

FHA underwriting guidelines vs. Lender Overlays is a post from: FHA Loans Oregon

FHA Changes Oregon Streamline Refinance Rules

Fred Chamberlin — Mon, 21 Sep 2009 19:05:35 +0000

One of the best things about having an FHA loan in Eugene/Springfield, OR in the past was the ability to get a lower rate with a “Streamline” refinance. In this process, about all you had to do was prove you were current on your mortgage, nothing else was required. That all changed on Friday when FHA issued new rules for the FHA “Streamline” refinance program though their mortgagee letter #2009-32. Surprisingly, FHA actually wants you to be able to make your payment too. (LOL) So, they want proof that the borrower is employed and has income.

FHA Changes Oregon Streamline Refinance Rules is a post from: FHA Loans Oregon