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        <title>Denver Real Estate Blog</title>
        <link>http://www.denversrealestate.com/blog/tags/fha/</link>
        <description>Denver real estate topics including local metro Denver community news and events.</description>
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            <guid>http://www.denversrealestate.com/blog/explaining-the-fha-mortgage.html</guid>
            <link>http://www.denversrealestate.com/blog/explaining-the-fha-mortgage.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>Explaining the FHA Mortgage</title>
            <description> <![CDATA[ Metro Denver homebuyers have been utilizing FHA backed mortgages to fund their home purchases for decades.Some of the benefits offered by FHA backed loans are low down payment options, reasonable costs, availability to less than perfect credit and assistance if ever there is difficulty in making the payments.To be eligible for an FHA insured mortgage a borrower must plan to occupy the property as their principal residence, have a valid social security number, have a two year employment history, not be past due on any Federal debts and meet the flexible credit requirements.To make the FHA backed mortgage easy to understand I find it useful to give clients a pamphlet with all the pertinent information. This informational flyer can be opened through the link below.Open the pamphlet  FHA Improvements Benefit You  by clicking on the link.I am always available for any questions you may have. If you are considering buying or selling metro Denver real estate, call now for experienced and professional assistance. ]]> </description>
            <pubDate>Fri, 26 Feb 2010 11:00:44 -0700</pubDate>
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            <guid>http://www.denversrealestate.com/blog/fha-implements-new-rules-to-help-foreclosures-sell-faster.html</guid>
            <link>http://www.denversrealestate.com/blog/fha-implements-new-rules-to-help-foreclosures-sell-faster.html</link>
            <author>bruce@bruceswedal.com (Bruce Swedal)</author>
            <title>FHA implements new rules to help foreclosures sell faster</title>
            <description> <![CDATA[ 
FHA has made recent changes to their rules to help stabilize the home values and improve community distress in places where foreclosure activity is high.&nbsp; A temporary change of policy has been announced which will allow increased and quicker access to FHA mortgage insurance when purchasing some foreclosed properties. 

Through this announcement and the $2 billion stabilization grants announced for non-profit developers and local communities announced to stem the negative effects of abandoned and vacant homes in some communities, the current administration has shown a commitment to addressing these issues.

These changes further open up the credit market to potential home buyers who often run into roadblocks obtaining conventional financing, most home buyers in todays tightened market place frequently find FHA is their only financing option.

In the past FHA has prohibited using FHA mortgages to purchase homes owned by sellers for less than 90 days which kept buyers away from recently foreclosed homes.&nbsp; This waiver will temporarily allow buyers access to a broader range of foreclosure properties while still maintaining stringent control to prevent any predatory practices.

Less time is required today to purchase, restore and sell foreclosure properties to homeowners looking to move in.&nbsp; It typically takes much less than 90 days and home buyers using FHA financing found themselves excluded from trying to purchase these restored homes.&nbsp; Sellers were often unwilling to accept contract offers from buyers using FHA financing because they would incur additional holding costs while waiting for the 90 days to pass.

This temporary change will assist in stabilizing the real estate market and revive communities by allowing buyers to purchase bank owned properties, HUD properties and properties being resold utilizing FHA financing without a 90 day waiting period.&nbsp; This will result in quicker sales, more price stability and less neighborhood vacancies.

With the restrictions lifting home buyers will have more opportunities to buy affordable housing which they were previously unavailable giving buyers more opportunities in the market.

The one year waiver takes effect February 1, 2010 and is designed with protections in place against predatory lending.&nbsp; In that transactions must meet the following general guidelines.


Transactions must be at arms-length.&nbsp; This means the parties to the transaction cannot share an identity of interest.

Additional lender conditions will apply if the sales price of the property exceeds a 20% increase of the acquisition cost.

The waiver does not apply to Home Equity Conversion Mortgage.


HUD provides the specific text for the temporary policy on its website.
 ]]> </description>
            <pubDate>Tue, 19 Jan 2010 11:19:19 -0700</pubDate>
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