Jun. 25, 2009
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| Universal - Homebuyer $8000 Tax Credit: If somebody has owned a mobile home free and clear and in a mobile home park for the last 19 years, can they receive the $8K Tax Credit as a first-time homebuyer? |
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| Fannie 2nd Mortgage Prepay Penalty: Do the agency rules allow for a pre-payment penalty on 2nd mortgages? |
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| Fannie Inherited Home-Equity Gift: What are the guidelines for inherited properties and gift of equity, where family is gifting their portion of inherited property equity to a son? |
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| Fannie Solar Home: Will Fannie or Freddie lend to a house that does not have electricity? The house is powered by solar and wind. |
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| Fannie Kiddie Condo: Is it acceptable to buy a condo as a 2nd home for a child to live in while she/he attends college using 2nd home downpayment? |
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| Freddie Maximum Acreage: What is the max acreage that Fannie or Freddie will lend to on a single family purchase loan? |
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| Freddie Condo HO-6 Insurance: The investor wants the HO-6 endorsement to specifically state that the interior walls are covered. The insurance company will not do this because they will only cover it if the Master policy will not. What should I do? |
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| Freddie NOO Property Rules: My office manager said that Fannie-Freddie loans couldn't be done if the borrower owns more than 4 properties. Is that true? (Includes Mortgage Talking PointsTM flyer Working With Real Estate Investors |
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| FHA Gift of Real Estate Commission: My borrower is working with a Realtor who is also her mother. Can her mother "gift" her the commission she will be receiving on the transaction? |
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| FHA Flood Zone: Can you do FHA financing on a manufactured home in a 100-year flood zone? |
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| FHA Borrower with NO Credit: I have a first time homebuyer that has NO credit/trade lines. Can I still qualify him with non-traditional credit (rental, utility bills, etc.)? |
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| FHA In-Ground Swimming Pools: Can a buyer finance a home, with an in-ground swimming pool that is NOT WORKING, using FHA financing? |
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| FHA Shared Driveway: Is it going to be a problem if the property is located on a private, shared driveway? |
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| VA Funding Fee Chart: My veteran first time homebuyer has served in the National Guard for 10 years but he was deployed to Iraq last year for 6 months. What funding fee do I use? |
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| VA Eligibility: My veteran borrower purchased his first home with VA financing 20 years ago. He refinanced the property to a conventional loan 5 years after purchasing, retained the property as a rental and purchased another primary residence with his VA eligibility. He has now sold his primary residence and wants to purchase another primary residence with VA financing. VA will not restore his eligibility. Why not? |
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| Compliance Verbal Credit Authorization: I get many referrals/inquiries via the phone...people wanting to see if they qualify to purchase a home. I get their credit card info to pay for the credit report fee. Once I take the info and pull their credit, am I required to send a denial letter? |
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| Compliance New TIL Rules: What are the new Truth-in-Lending laws that become effective July 30, 2009? |
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