forclosure: "How the Mortgage Acts & Practices" Rules Affect Real Estate Agents & Builders" - 08/10/11 05:26 PM
 
"How the Mortgage Acts & Practices" Rules Affect Real Estate Agents & Builders
 
The Mortgage Acts & Practices Rules are in effect as of August 19, 2011.
When you run an ad, or even mention mortgage terms, you must not only comply with Reg Z rules, you must comply with these, too.
 
First of all, here are the types of advertising/marketing that are outlined in the Act. The Fed’s call it "commercial communications" and it means…
Any written or oral statement
Illustrations such as charts and graphs
English or any other language
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forclosure: Home Valuation Code of Conduct: Now What? - 08/10/11 05:24 PM
 
Home Valuation Code of Conduct: Now What?
Frequently Asked Questions
The way appraisals are ordered and transmitted to the client has changed!

The way appraisers must determine value has changed!

Listed below are the most frequently asked questions regarding appraisal-ordering procedures and what now must be included on an appraisal report. Just a note—HVCC applies to conventional loans only. FHA, VA and USDA loans are exempt from this rule.

How does an appraisal get ordered?

You must order an appraisal thru an Appraisal Management Company who in turn, assigns the appraisal order to ANOTHER appraiser—or … (2 comments)

forclosure: Rules When Selling a Home when in forclosure - 08/10/11 05:21 PM
 
 
 
 
Be careful when listing a home, going thru the foreclosure process and is currently in a "redemption period". A redemption period is the time given to the property owners to come up with ALL of the money to pay off the balance of their mortgage, the attorney fees and any unpaid interest.
 
Yes, you can sell the home during the redemption period, but the following conditions must apply:
 
1. Property must be in a state where it is common & customary to sell a home in redemption.
 
2. Title insurance must contain a specific … (0 comments)

forclosure: Rent vs Own! You tell us! - 06/15/11 06:03 PM
WHY rent when you can BUY?                                                                                                          
 •ü There is no reason to rent when you can own!
•ü  Now's the time take advantage with today's lower interest rates
•ü Take advantage of the BUYERS market!
•ü Down payment assistance available (income must qualify)
•ü Multiple loan programs to help you & your family purchase
 Sunny's Group is fully staffed and prepared to handle all of your mortgage lending needs. At Sunny's Group we strive to provide you with greatness. With our expert team and creative financing you are sure to receive the best customer service and loan programs designed around your … (2 comments)

forclosure: Freddie Mac HomeSteps® vs. Fannie Mae HomePath® - 01/10/11 06:14 PM
Freddie Mac HomeSteps® vs. Fannie Mae HomePath®
Incentives to Buy Foreclosed Properties
Effective January 1, 2011 
•·        Minimum sales price $25,000
•·        Single Family Owner-Occupied Only - Homes bought at auction; Commercial, Investment, & Second Homes are not eligible
•·        2 year HomeProtect Home Warranty
•·        Up to 30% discount on new Appliances
•·        No special financing offered
•·        Concessions may be negotiable for Buyer's Closing Costs
 
Fannie HomePath®                                                                                                                          
 
•·        First 15 days the home has been posted for sale
•o   Only Owner-Occupied Buyers can bid
•o   HUD's Neighborhood Stabilization Program Incentives
•o   No investor bids during … (0 comments)

forclosure: Advising Foreclosure, Short Sale and Deed in Lieu clients - 09/24/10 02:20 PM
 Advising Foreclosure, Short Sale and Deed in Lieu clients If you are working with a client who has had a short sale or a deed-in-lieu in their past...or you are listing a home and your sellers may have the same issues...Fannie announced new waiting periods, as of July 1, 2010, before being eligible for another loan. The waiting period is defined as "from the date of the pre-foreclosure to the date of application". These policies favor borrowers that work with their servicers to avoid Full Foreclosure either by Deed-in-Lieu, Pre-foreclosure Sale, or Short Sale.
 Fannie defines ALL Pre-foreclosures as any … (0 comments)

 
Sunny Group Movement Mortgage

Sunny Group Movement Mortgage

Biloxi, MS

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