HUD Homes

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Here is recently news from HUD that may help new homeowners.

RISMEDIA mentioned that on November 10, 2010–HUD on Tuesday announced a new pilot program that will offer credit-worthy borrowers low-cost loans to make energy-saving improvements to their homes. Backed by the Federal Housing Administration (FHA), these new FHA PowerSaver loans will offer homeowners up to $25,000 to make energy-efficient improvements of their choice, including the installation of insulation, duct sealing, doors and windows, HVAC systems, water heaters, solar panels, and geothermal systems. Read the rest of this entry »

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Most of seasoned investors, new investors, first time home buyers and who wants to buy a second house as an investment would like to learn more about pre foreclosure and foreclosure properties in Dallas.

Before getting into Dallas foreclosure properties lets start from the basics like what is preforeclosure? The Preforeclosure Sale (PFS) Program allows the mortgagor in default to sell the home and use the net sale proceeds to satisfy the mortgage debt even though these proceeds are less than the amount owed. Read the rest of this entry »

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Here is important news about Housing and Urban Development from our Lender Jeff Lancaster at Prime Lending.

This is cutting edge news and a more formal announcement will be made, however, I wanted you to know about this ASAP.  This is a very important news for investors interested in Dallas Homes and Plano Foreclosure Properties.

HUD has announced their intention to

  • Lower the Up Front MIP from 2.25% to 1% AND
  • Increase the Annual (monthly) MIP From .50 – .55% to .85 – .90% depending on LTV

on loan terms greater than 15 years. Read the rest of this entry »

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