Also known as HUD, the Department of Housing and Urban Development is the federal department responsible for the nation’s housing programs. It also regulates RESPA, the Real Estate Settlement Procedures Act, which governs how lenders must deal with their customers. Look here for more information about HUD and what it can do for you.
Who qualifies for subsidized housing? A new study looks at the backgrounds of the 9.4 million people living in HUD federally subsidized housing programs. Ponder this: There are 9.4 million people living in subsidized housing that is funded at least partly by the Department of Housing and Urban Development (HUD). The median household income of [...]
Last week, a federal jury in Texas imposed a nearly $93 million penalty against Allied Home Mortgage Capital Corp. and Allied Home Mortgage Corp. (now known as AllQuest Home Mortgage Corp.) and CEO Jim Hodge for issuing thousands of bad loans and leaving the Office of Housing and Urban Development (HUD) on the hook for [...]
Although there is some concern about why the Hope Now hotline hasn't helped more people, if you're in trouble with your loan, or about to be in troubl...
Today on the Ilyce Glink Show, Ilyce talked about 1031 exchanges and what questions you should ask when choosing a 1031 exchange intermediary. She also talked about credit freezes and Georgia's new law. She ran down some green baby Web sites, if you're looking for environmentally-friendly retailers, and what to do if you haven't received your stimulus check from the IRS. She took calls on investing in 401(k) plans, a possible property tax mix-up on a HUD-1 form, investing in CDs for income, reverse mortgages, and credit freezes. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
If you're having trouble paying your mortgage, go straight to your mortgage lender or another expert to ask questions about foreclosure. Foreclosure questions are not for family and friends, who may not know the answer to what happens when you can't pay your mortgage. Your mortgage lender will be able to answer any questions you have about foreclosure and to talk to you about how to afford your mortgage payments.
A mortgage crisis hotline may be the best bet for this homeowner to avoid foreclosure or a short sale. An adjustable rate mortgage (ARM) and a student loan has put her in a financial crisis, and taking the right steps could help her keep her home. The new FHA secure plan may be a solution to avoid further financial crisis.
When you buy a home with an FHA loan you have to follow their rules, including one where you can't close on a home if it was just sold 90 days earlier. If a seller is eager to sell he may not want to wait that long. Can the seller keep the buyer's deposit if the closing gets delayed or canceled?