Mad Mortgage Machine Ep 2
This week Dave discusses the FHA Home Loan regulations, new seller concessions, FHA and Flipping, Higher Down Payment, and the Biz Booster of the week is ID Theft. Identity Theft Biz Booster Your Name(required) Email(valid email required) Message cforms contact form by delicious:days Dave Woodson The Mad Mortgage Machine Share and Enjoy:
FHA and the “Flipper”
As foreclosures increase across the United States and that includes Indiana, banks are looking for ways to sell their overloaded REO inventory. FHA has devised a plan that should be able to help many of those that buy homes, do some fixing up of the home and put it back on the market. In the [...]
Does my insurance and taxes have to be taken out from my fha mortgage payment ?
Dear Mad Mortgage Machine I bought my first home with a fha mortgage loan. I wanted to know if there is any way I could have my insurance and my taxes not to be included in my mortgage payment? Bill Dear Bill, In a word, No. I am sorry that your broker did not explain [...]
Why would someone go with an FHA home loan vs. a Conventional home loan?
Dear Mad Mortgage Machine, I am married and my husband has quite a bit of debt, and I do not plan on paying off prior to buying a home. If I go FHA, his debt is added to my debt even though I am the only one on the loan. If I go conventional, the [...]
Who is responsible for filing a Homestead and mortgage exemption?
Dear Mad Mortgage Machine, The taxes in our area when up drastically. My friend asked me to review his tax bill and I noticed he did not have a Homestead or Mortgage exemption. He has a 30 year mortgage on the property and it is his only & primary residence. He’s had the mortgage for [...]
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