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no : Mortgage Loans, Rates, Home Buying, Selling, Foreclosures

All Posts Tagged With: "no"

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Are Toxic Loans Coming Back?

Our good friends at Realty Times report that some in the mortgage industry believe that no-doc loans and other forms of toxic finance “may soon be making a comeback” and that “some people can’t wait for the no-doc loans.”
Really?
I have no doubt that some people would be elated by the return of liar loans [...]

20Jul2009 | Peter G. Miller | 0 comments | Continued
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Will HUD Allow FHA Loans With No Money Down?

Has HUD changed its mind?
On Monday, May 11th, HUD posted Mortgagee Letter 2009-15 which explained that “Federal, state, and local governmental agencies and nonprofit instrumentalities of government, FHA-approved nonprofits, and FHA-approved mortgagees may provide short-term or “bridge loans” secured only by the anticipated tax credit due the homebuyer as collateral.”
Immediately the letter was removed from [...]

18May2009 | Peter G. Miller | 0 comments | Continued
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The Case For Flexible Real Estate Commissions

Isn’t it time to change real estate agreements — to make them better for buyers, sellers and brokers? Syndicated columnist Peter G. Miller explains.

17Feb2009 | Peter G. Miller | 0 comments | Continued
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Why Have Piggyback Mortgages Disappeared?

We usually define a “conventional” mortgage as financing with 20 percent down. Since most people don’t happen to have 20 down much less 20 percent plus closing costs, there has always been a market for mortgages that somehow require fewer dollars up front.
The way you get loans with less down is to find [...]

20Sep2008 | Peter G. Miller | 0 comments | Continued
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Should Lenders Dump No-Tell Loans?

For many years the lending process has become less and less rigid. In the general case this is a trend to be welcomed, but the question to be asked is this: Have we gone too far?
With “stated income” loans borrowers tell the lender how much they make but the lender graciously does not verify [...]

16Sep2008 | Peter G. Miller | 0 comments | Continued
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Can I Get A Mortgage If I Have No Credit Cards?

While a credit card or cards shows an ability to handle credit, there are other measures as well.
For instance, payments for utilities, rent, student loans, auto debt, or a telephone all show financial responsibility.
And — interestingly — if you do not have credit cards but have regular expenses and solid savings, there’s an argument to [...]

29Aug2008 | Peter G. Miller | 0 comments | Continued