Foreign national lending has become a large component of the US housing market. The National Association of REALTORS reports that over $99 billion of real estate investment money comes from abroad, as of March 2014 and that number is only expected to rise in the near future. The homes that foreign nationals are purchasing are vacation homes and investment homes – some foreign … [Read more...] about What is Foreign National Lending?
Is the new HomeReady™ mortgage program from Fannie Mae the new subprime of 2016? Maybe. Maybe not. But at least one media outlet is calling the new program "Default Ready" and if history does indeed repeat itself, many more programs targeted toward low-income borrowers are coming soon. From an Investors Business Daily article about the HomeReady™ mortgage program: The … [Read more...] about HomeReady™ Mortgage: The New Subprime of 2016?
Bankruptcy is a household word for many Americans today. In fact, there are more than 1 million bankruptcies filed every year. This used to mean that the fate of a borrower looking for a mortgage was doomed. It would be necessary to wait several years before applying for a mortgage and even then it was often difficult to find an approval that one could afford. Today it is much … [Read more...] about Can you Obtain a Mortgage after a Bankruptcy Discharge?
Did you think that we had seen the end of the subprime home loan? We probably haven't. In many parts of the country, lenders are rolling out the subprime mortgage loan for people who can't seem to qualify for a traditional loan. A recent article in the LA Times points out just a few of today's subprime mortgage borrowers and the subprime lenders who are happy to lend to … [Read more...] about Subprime Mortgage Loans Coming Back in 2013