Posts Tagged ‘Oregon’

One of the great programs that I have had the pleasure of working with is the IDA (Individual Development Account) program. This program can be used to accumulate a down payment to buy a home on a 1 to 3 ratio. For every dollar the participant saves, the IDA program contributes $3. Pretty good ratio, I think. However, today I found out from NEDCO (Neighborhood Economic Development Corporation of Lane and Marion Counties), one of the IDA program organizations, that they are out of money for the program. Read More

The Mortgagee Letter is out and the Up Front Mortgage Insurance Premium (UFMIP) will officially change from 1.75% to 2.25% effective with FHA case numbers issued after April 5, 2010. This will be a change in the amount of the premium collected up front but not in the monthly amount at this time. FHA will be asking for an increase in the monthly premium but that must be posted in the Federal Register first and probably will not take effect until Spring or early Summer. Read More

Laurie Willis, Alpine Mortgage Planning Reverse Mortgage Specialist, and I have launched a new website to deal with the questions around the Reverse Mortgage process for senior citizens. Since I am over 62 and could qualify for a Reverse Mortgage, I am also interested in the process. So, over the next weeks, we will be adding information and trying to go through some of the pitfalls and stumbling blocks having to do with a Reverse Mortgage in Oregon, Washington and California. The name of the site is Oregon Reverse Mortgage Info and should be beneficial in answering questions. Read More

Answering questions is one of the best things about my job. I really enjoy being able to share the knowledge that I have accumulated in my over 25 years in lending. Of course, with the rapid changes in mortgage lending now, I have to be doubly concerned that the answer that was right yesterday is still right today. One of the multi user platforms that I belong to, My FHA Mortgage Blog, has started a mortgage question forum and I am doing what I can to answer some of the questions posed by people and try to get the right information out there. I will be using all three of my blogs to answer those questions, this one, FHA Loans Oregon and EugeneLoanguy. This question has to do with using a co-signer on an FHA loan. Read More

Top 10 Things to Know if You’re Interested in a Reverse Mortgage Read More