Q: My husband and I purchased a home in October of 2010 using an FHA mortgage through Bank of America. We had a 30-year fixed rate mortgage with a PMI requiring "up-front" money of $4,635.61 and a monthly premium. Luckily we were able to sell our previous home which was mortgage free and, together with savings, paid off this mortgage in February 2013 - about 28 months into the 30-year commitment. Looking at the FHA/HUD website it states that a refund of some of the premium money is available if the following three criteria are met:
WASHINGTON (AP) - The U.S. government said Monday that it has received $66.3 billion in dividend payments from Fannie Mae and Freddie Mac after both reported stronger earnings at the start of the year.
Sabal Financial Group, a diversified financial services firm specializing in real estate, lending and banking, has closed a construction loan in the amount of $9.4 million for Manteca's gated Oakwood Shores community.
WASHINGTON (AP) - U.S. home prices jumped 12.1 percent in April from a year ago, the most since March 2006. More buyers and a limited supply of available homes have lifted prices in most cities across the country, a sign of a broad-based housing recovery.
Q: I am a real estate lawyer in practice for over 36 years and in the last three months encountered a new situation for which I find troubling. Both closings I conducted were lot purchases as part of a construction/perm loan. In both cases the realtors were to split a 10% commission. The lenders were not the same. The lenders, citing a fed regulation said the commission could not exceed 8%. How can a lender dictate the commission agreed to by the seller and realtors neither of whom have any relationship with the lenders? Hal.
Boys: And I start with just 'boys' to see if you both are men enough to put my letter in print. Here goes my question for you... I have seen over the last few years different real estate signs in front of homes that say "COMING SOON" and very often never see a real "FOR SALE" sign go up. Honestly, I very seldom, if ever, thought much about the coming soon until my husband and I recently began searching for a home to buy. We saw a coming soon sign in a neighborhood in which we have always wanted to ...
The American family continues to evolve, with multiple generations living under the same roof in more households than any time since the Great Depression. Of America's 76 million households, 5.6 percent (4.3 million) were multi-generational as of 2011, according to the U.S. Census Bureau. Homeowners are finding it's more important than ever to ensure every home improvement project delivers benefits for every member of the family - children, parents and grandparents.
When warm weather arrives, does your family head outdoors to enjoy your patio or deck? Do they then turn around and head right back into the air-conditioned comfort when summer sun and temperatures make outdoor living spaces too hot to handle?
WASHINGTON (AP) - U.S. mortgage rates fell for the first time in seven week, keeping the average on the 30-year fixed loan just under 4 percent. But rates are expected to surge next week, as markets respond to Chairman Ben Bernanke's comments that the Federal Reserve will likely reduce its bond purchases later this year.
WASHINGTON (AP) - Homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation's top mortgage servicers, according to a report released Wednesday. Such delays can plunge borrowers deeper in debt.