Is this an FHA 203k possibility?Are these potential for FHA 203k loan to renovate?1) Barn sitting in the middle of a country property, that someone has converted to living area years ago, May or may not have permits, no other structures on the site. Maybe you know of one like this.2) A warehouse downtown where home construction has grown closer and closer to the property until it is the only vacant property in the neighborhood. It is the only non-residential property left on the block, can we use the 203k to convert it to resdential use?3) Mixed use building has been an eye-sore for years, maybe a fire trap, creating a nusance to the neighbors. Can we turn this around and get it sold under the FHA 203k loan program?4) An older home built with no perimeter foundation. Can we put a founda... 10/05/2013

Bidding on HUD homes can be like stepping into a Bear trap? HUD homes are aka HUD foreclosures and are sold by M&M contractors. If you are looking to purchase a "HUD Home" your agent will put a bid together with you to called a purchase agreement. The home has been appraised and a value set. Do you need to offer that full price or can you offer something else?  Of course you ca offer whatever you want offer. The Bear Trap is if you decide to offer more than the asking price. All that you bid ov er the asking price will be money you have to bring to closing over and above your 3.5% down payment. That is correct. If your home is $100,000 and the down payment is 3.5% you would pay $3,500 down. If you offer $110,000 thinking you will only put 3.5% down or $3,850 you will have a rude awakeni... 06/19/2013

Stockton CA – The Stop Foreclosure Institute recently received an e-mail from another real estate agent. They were asking for our advice on a short sale. They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government. Here was the e-mail they sent us. " The lender told the seller that they had to agree to a deficiency or the short sale would not be approved. The seller said that was unacceptable. They told us they wouldn't go thru with the short sale unless the deficiency was waived. We notified the short sale negotiator and he sent us a short sale decline letter. The decline letter says buyer walked. That was a total lie! It appears that this lender told the owner of the loan, Fannie Mae, that... 07/25/2011