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Category: Financing

Buyers Making Offers on Multiple Homes at Once

Buyer’s are being advised by unscrupulous brokers and mortgage lenders to go ahead and write several offers at the same time on several different homes in the hope of getting one accepted. Let’s face it, the market is extremely active and many buyers are not getting their offers accepted, even though they are making very …

FHA Loosening Requirements for Condos as Second Homes

Today FHA announced some big changes to their condo financing guidelines, which will be effective immediately. Calculations for owner-occupied percentages are changing, and second homes will no longer be counted against the 50% owner-occupied requirement. Insurance requirements are also being adjusted to allow more developments to qualify. Also, a new streamlined recertification process has been …

Economics Group – Special Commentary

Housing Chartbook: February 2014 Several Mortgage Professionals with Wells Fargo have sent me this report over the last couple of days. It’s a very thoughtful analysis of the near-term housing outlook based on historical data and near-term predictions using a number of factors. They look at GDP, energy and material costs, demographics and changing family …