Thanks to Susan O’Driscol of Princeton Capitol for this update today. “The FHA announced changes to its guidelines yesterday. It will raise the minimum down payment required for borrowers with credit rating scores below 580 to 10%, while the down payment for higher-ranked borrowers would stay at 3.5%. The up-front MI premium is also going [...]
Posts Tagged ‘HUD’
Modification Opportunities for Those at Risk of Foreclosure
Everyone has a lot of questions about the guidelines for this new program. There are 2 things that you will want to know. One, YOU DO NOT NEED TO HIRE A LOAN MODIFICATION COMPANY (3rd Party) TO DO THIS. Two, BE THOROUGH FILLING OUT THE INFORMATION SUBMITTING A COMPLETE PACKET THE FIRST TIME. Revised March [...]
