What government insurance plans are subsidized by the taxpayers and available to everyone? Probably, the only answer is flood insurance.
The Federal Emergency Management Agency (FEMA) oversees the flood insurance program. Over the past few years, FEMA has been hammered with insurance claims. In an effort to keep expenses under control, FEMA has been encouraging relocation...
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Real Estate News
- REALTOR® Magazine’s Good Neighbor Awards Seek Entries, Winners Receive $10,000Realtors® is now accepting applications for the 11th annual REALTOR® Magazine Good Neighbor Awards. […]
- New Data: Commercial Market ForecastWhile the recent recession negatively impacted commercial real estate, there is hope for improvement. […]
- Fourth Quarter Existing-Home Sales Surge in Most States, Prices Up in More AreasStrong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the National Association of Realtors®. […]
Housing And Urban Development
- HUD Secretary Announces Disaster Assistance for Virginia Storm Victims
- HUD Report Shows Serious Shortcomings in HANO Operations
- Administration Releases January Loan Modification Report
- Doug Criscitello Sword in as Chief Financial Officer for the U.S. Department of Housing and Urban Development
- Top Obama Administration Officials to Promote Sustainable Communities, Environmental Justice at Smart Growth Conference
The Economy
- Advance Report on Durable Goods Manufacturers' Shipments, Inventories, and OrdersNew orders for manufactured durable goods in January increased $5.2 billion or 3.0 percent to $175.7 billion. January 2010: 3.0 % change December 2009: 1.9 % change […]
Who Pays For Flood Insurance?
$2.7 million in Relief to PA Residents for Countrywide Financial Settlement
HARRISBURG, PA – Foreclosure relief checks totaling more than $2.7 million have been mailed to several hundred Pennsylvania consumers as part of a multi-state settlement with Countrywide Financial Corporation.
Attorney General Tom Corbett said the foreclosure relief is part of a broad-based package intended to assist borrowers in Pennsylvania who were allegedly misled by Countrywide...
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Help for the Hardest Hit Housing Markets
Today, President Obama will announce funding for innovative measures to help families in the states that have been hit the hardest by the aftermath of the housing bubble. In each of these states, the average price for all homeowners in the state has fallen more than 20% from the peak. Home prices...
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Buyer Beware: Internet Real Estate Scams
HARRISBURG, PA – Attorney General Tom Corbett today cautioned Pennsylvania consumers to be alert for possible scams linked to online ads for rental homes and apartments, along with Internet “for sale” ads and auctions for real estate, cars, motorcycles and other items.
“Internet classified ads and auction websites are popular tools for bargain-hunters searching for...
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About FHA Mortgages
93. WHAT IS A 203(b) LOAN?
This is the most commonly used FHA program. It offers a low down payment, flexible qualifying guidelines, limited lender’s fees, and a maximum loan amount.
94. WHAT IS A 203(k) LOAN?
This is a loan that enables the homebuyer to finance both the purchase and rehabilitation of a home through a...
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What Is Mortgage Insurance?
88. WHAT IS MORTGAGE INSURANCE?
Mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home mortgages. It’s required primarily for borrowers making a down payment of less than 20%.
89. HOW DOES MORTGAGE INSURANCE WORK? IS IT LIKE HOME OR AUTO INSURANCE?
Like home or auto...
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Mortgages: Conventional Loans
Talk to your lender about specific loss mitigation options. Work directly with him or her to request a “workout packet.” A secondary lender, like Fannie Mae or Freddie Mac, may have purchased your loan. Your lender can follow the appropriate guidelines set by Fannie or Freddie to determine the best option for your situation.
Fannie...
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HUD And FHA Help You Buy Real Estate
66. WHAT IS THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT?
Also known as HUD, the U.S. Department of Housing and Urban Development was established in 1965 to develop national policies and programs to address housing needs in the U.S. One of HUD’s primary missions is to create a suitable living environment for all Americans...
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Real Estate Closing Settlement
61. WHAT HAPPENS AFTER I’VE APPLIED FOR MY LOAN?
It usually takes a lender between 1-6 weeks to complete the evaluation of your application. Its not unusual for the lender to ask for more information once the application has been submitted. The sooner you can provide the information, the faster your application will be processed....
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Mortgages: Finding The Right Loan For You
54. HOW DO I CHOOSE THE BEST LOAN – PROGRAM FOR ME?
Your personal situation will determine the best kind of loan for you. By asking yourself a few questions, you can help narrow your search among the many options available and discover which loan suits you best.
Do you expect your finances to...
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First Steps To Obtaining A Mortgage: Your Credit
47. WHAT STEPS NEED TO BE TAKEN TO SECURE A LOAN?
The first step in securing a loan is to complete a loan application. To do so, you’ll need the following information.
Pay stubs for the past 2-3 months
W-2 forms for the past 2 years
Information on long-term debts
Recent...
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Financing Questions: Mortgage Basics
33. WHAT IS A MORTGAGE?
Generally speaking, a mortgage is a loan obtained to purchase real estate. The “mortgage” itself is a lien (a legal claim) on the home or property that secures the promise to pay the debt. All mortgages have two features in common: principal and interest.
34. WHAT IS A LOAN TO VALUE...
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Greater Philadelphia Region
- Concert To Benefit Haiti ChildrenHippies 4 Haiti: a Concert Benefiting Meds and Food for Kids (http://mfkhaiti.org/) Start Time: Saturday, February 27, 2010 at 3:00pm End Time: Sunday, February 28, 2010 at 1:30am Location: Third & Walnut Bar-Lounge, Lansdale, PA 19446 HIPPIES 4 HAITI will take place at the Third & Walnut Bar-Lounge in Lansdale, Pa. on Saturday February 27 about 3:00 […]
- Have You Seen Martin?Martin Luther King Jr. Have you seen Martin? I know. That sounds like an odd question. But the truth of the matter is; we do see him in so many of the things we now take for granted and do without giving a second [...] No related posts. […]