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Mortgage and Lending - Southern California Mortgage Professional - NMLS #254430
What's the deal? I thought FHA waived the 90 day property flip rule? In January, I posted a blog FHA 90 day flip rule lifted.   This blog gave some pertinent details  about alot of the guidelines surrounding the waiver.  And this is just more proof that active rain is a great place for us to shar...
Do you know where the rituals of our holidays came from?  The Easter bunny hiding eggs?  Carving pumkins? Turkeys and squash, bringing a Tree inside your home and decorating it?                                                            The traditions we follow today are actually ancient rituals ...
Property Flipping guidelines extended by FHA , until May 2010!  What does this mean and who does this affect? What is property flipping?   No's not flipping your home with another couple as seen in trading spaces on  TLC!                                                          FHA GUID...
The streamline 203k is a perfect program for REO properties with minimal repairs. Did you know you can tell the bank that they will not be responsible for the repairs?  WOW!  The bottom line not to mention the headaches,  just looked a lot better!   And that FHA buyer that didn't look so great, j...
What is a 203k Loan? 203k MADE SIMPLE In Southern California, FHA loans were just not utilized much in the past because of the FHA Maximum Mortgage limits  But now that the limits have been increased and the prices have decreased, FHA loans have become the most utilized loan especially for first ...
  LOAN APPLICATION   When applying for a home loan, you will need to supply your lender with... YOUR PLACE OF RESIDENCE:       •·  If you rent: Name, address and phone # of your current landlord. If you own your home and if your mortgage is not reported to the credit bureau: 12 months canceled ch...
I was in a meeting with about fifty realtors the other day who had not even heard about the hvcc petition! We can't assume that everyone has heard about it - as a matter of fact it's obvious the word has not gotten around since there are less than 50,000 signatures.  OR have you heard about it bu...
Jeff Belonger wrote a great post clarifying the 8,000 tax credit and the news that it will now be able to be used towards your down payment.  A must read to keep your clients educated!   The $8,000 first time homebuyers TAX CREDIT - HUD has saved the day. Well, okay, it saved it for a day. It's g...
Here is a great list from Darin of lender requirements from today's market.  Some clients still believe there are short cuts out there - and all of our hands are tied!I see all kinds of documentation in your future my friend!   Beware!    Today, as a LENDER, our crytal ball has no idea what it is...
                                                            I have had this conversation more often lately due to the recent tightening in credit score requirements.  If you look online there are numerous differing answers to the question "How many times can I have my credit checked without it hu...

Colleen Craig

The Mortgage Ninja
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