Alex Echeandia's (alexecheandia) Blog

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Mortgage and Lending - Primex Mortgage
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Most mortgages provide only permanent financing. It is when the lender will notcclose the loan and releases the mortgage proceeds, unless the condition and value of the property provide adequate loan security. When homebuyers want to purchase a house in need of repair, they should obtain interim ...
04/18/2011
The Homeownership Opportunity Program (HOP) provides short term financing for the acquisition and rehabilitation of vacant properties that are not in mortgageable condition, or properties that are in imminent danger of foreclosure and/or in a Foreclosure Impacted Area. The Homeownership Opportuni...
03/23/2011
The Homeownership Opportunity Program (HOP) loan is the perfect blend of Federal Government money granted to those in the State Government who know how it needs to be used and driven by the private marketplace so the money goes where it is needed. The money is intended to assist borrowers to buy ...
03/23/2011
The Homeownership Opportunities Program (HOP) provides down payment or closing cost assistance for home purchases (existing or new construction) to low- or moderate-income first-time homebuyers, defined as 80% of the HUD AMI. HOP matches other funds to increase a homebuyer's total source of funds...
03/23/2011
There are many homes lost to foreclosure since the mortgage and real estate crisis in 2008.  Many of these foreclosed homes or mortgages were bought by Fannie Mae.  As a result, there are a lot of Fannie Mae foreclosed homes that are up for sale creating really great home buying opportunities for...
03/23/2011
Fannie Mae is a government-sponsored enterprise (GSE) chartered by Congress with a duty to provide liquidity, stability and affordability to the U.S. housing markets now a day.  It runs in the U.S. as a secondary mortgage market and not making home loans directly to consumers.  It works with mort...
03/23/2011
The home loan that is being provided by USDA has significant level of benefits when compared to other banks. One of the most important benefits is the absence of maximum limit. The low interest rates option being offered by this loan will surely enable borrowers to save large amount of money in t...
03/23/2011
The USDA Rural Development administered the Guaranteed Rural Housing Loans, which serves the public through more than 800 field offices nationwide.  Rural families and individuals may be eligible to become homeowners with the help of a USDA guaranteed home loan. Through USDA's Guaranteed Rural Ho...
03/23/2011
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A USDA Guaranteed Loan is Government insured 100% purchase loan. These Loans are only offered in rural areas and serviced by direct lenders that meet federal guidelines. Under the Guaranteed Loan program (Section 502), the Housing and Community Facilities Programs guarantees loans made by private...
03/23/2011
The final rules, which apply to closed-end loans secured by a consumer's dwelling, will prohibit payments to the loan originator that are based on the loan's interest rate or other terms.  But compensation that is based on a fixed percentage of the loan amount is permitted.  The final rules prohi...
03/23/2011
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