Lynne Rohde's Page

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Lynne Rohde's Blog

More homes are being sold AND the mortgage rates are going up!

WHAT DOES THIS MEAN TO YOU????

* This once in a lifetime opportunity to purchase a home won't last forever so if you've been sitting on the fence to buy it's time to GET OFF!

* I don't recommend low balling offers in this market... we are seeing multiple offers now. That also means offering more than the asking price if you are asking the seller to pay closing costs.

* Although it will no longer make sense for some of you to refinance I can work up numbers so… Continue

Posted on June 7, 2009 at 8:16pm — 1 Comment

Mortgages and Guidelines by Lynne Rohde

Have you recently had a loan officer say a loan couldn't work because FHA requires collections to be paid off ???? (THIS IS AN EXAMPLE)

The real answer is FHA does NOT require collections to be paid, does NOT require a borrower to have reserves in the bank, does NOT require a minimum credit score, ETC.

FHA also doesn't "buy" mortgages... FHA only insures them. So, the confusion comes in with the lenders putting "overlays" on the FHA guidelines depending on which investor… Continue

Posted on March 29, 2009 at 8:00pm

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