Commissions Content Index - Page 1

Commissions can be charged by real estate agents, brokers, leasing agents - anyone selling anything. Learn more here about types of commissions and how you can get the best deal.

**HUD Revised Streamline Refinance Transactions** Streamline mortgage refinance applications will be undergoing some changes. Under the HUD revised streamline refinance, there are changes to the mortgage seasoning, payment history requirements, and verification of assets, employment and income. For a streamline refinance without an appraisal there will be a new maximum mortgage amount, and under the HUD revisions, there is is maximum combined loan-to-value amount for the streamline refinance. Read the full letter below for more details on the changes to HUD streamline refinance applications.

HUD Secretary Donovan and FHA Commissioner Stevens briefed leaders on the FHA's financial outlook today, in coordination with the release of its annual independent actuarial study. The study found the capital reserve ratio to be 0.53 percent of total insurance in force this year, well below the congressionally mandated threshold of two percent. The FHA holds $31 billion in total reserves today. Robert Ryan was introduced as the FHA's first-ever Chief Risk Officer. Ryan will focus on understanding risk to the FHA's insurance fund and develop policy responses that address that risk.

FHA cash reserves fall to the lowest level in history, below the congressionally mandated level. The Federal Housing Administration's mortgage insurance cash reserves fell to the lowest levels in recorded history, 0.53 percent. The FHA announced today FHA cash reserve levels have fallen below the congressionally mandated threshold. The annual independent accounting survey of the FHA came with the assessment that additional action needed to be taken to manage risk to prevent further losses.

**No Health Insurance Leaves Wife with Husband's Medical Bills And In Need Of Help** No health insurance coverage can saddle anybody with debts beyond any means of repayment. But when a loved on dies and leaves those medical debts, spouses and family members are left to pick up the pieces. Proper estate planning is a must to make sure debts can be paid after debt and that property assets go to the right people.

**Short Sale And A Full Price Offer** If you receive a full price offer for the sale of your home, can the lender still consider the sale a short sale? What if the full price offer covers all expenses and covers the entire amount owed to the lender, would the sale still be a short sale? This reader questions why a lender might under all circumstances consider a full price offer as a short sale no matter what.

**Loan Modification Help: Why Lenders Are Slow To Provide Loan Modifications** Millions of Americans have applied with their banks to obtain a loan modification. They desperately need loan modification help. The loan modification process is taking an extremely long time. Now homeowners want to know how they can get a loan modification -- whether under the Obama Making Home Affordable Plan or not -- and why the lenders are slow to provide loan modifications. A new study is revealing some answers.

**$8,000 First Time Home Buyer Tax Credit: Buying A Partially Inherited Home** The first time home buyer has restrictions on income. The first time home buyer tax credit requires you to live in the home for 3 years. Also, you can't have owned a home for the last 36 months. In addition, the first time home buyer tax credit has restrictions on who can sell you the home. If you are buying a home from a close relative, you won't qualify for the tax credit. But what if you inherit the home?

**Real Estate Buyers as Prospects** How do you know when real estate buyers become prospective buyers for your home? Does something magical occur when a specific real estate buyer knows your home or house is for sale? If you have your home listed for sale, does the listing broker keep count of prospective buyers so that you know who they are?

**More Reasons Why Your House Won't Sell** If you are getting the showings, but your house won't sell, what should you do. Make sure that you understand the listing price of your home and that it is competitive with other homes. Make sure that the condition of your home is in as good a shape as possible. While you can't change the location of the home, location, location, location is still the norm in real estate and you should understand how that affects your home. Finally, make sure you understand the market when it comes to the commission you are paying your broker and how much of that commission will be paid to the agent that brings a buyer to buy your home. If you don't understand each of these issues, you have added more reasons to why your house won't sell.

Senior's Home Equity may be at risk from reverse mortgage lending abusers, according to a report from the National Consumer Law Center. Reverse mortgages are being used by abusers of the subprime mortgage market as “tools” to profit from seniors. The National Consumer Law Center thinks that if protections aren’t put in place soon, not only will the life savings of senior citizens become depleted, but so will our tax dollars and economy. Read the full story on reverse mortgage abuse below from the National Consumer Law Center.