Saturday, July 19, 2008

About Fannie Mae Flips, Short Sales, Florida and FNMA

Fannie Mae reports from FNMA's website: "Fannie Mae provides stability, liquidity, and affordability to the nation's housing finance system under all economic conditions. We are a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. "

The Federal National Mortgage Association provides help with the finacing of US homes. This comes in the form of mortgage loans for residential property. If the property is purchased and quickly mortgage or resold to another party, this can be charachterized as a FNMA flip or FNMA flipping transaction. There are specific rules for FNMA Flips. Here is more information on flipping reqirements with FNMA.

The FNMA my Community mortgage is a mortgage loan that is popular. You can obtain a FNMA MY COMMUNITY mortgage loan from FNMA. There are many nuances with the "my comunity mortgage" from Fannia Mae. Some call it fannie-mae-my-community-mortgage.

Many are saying that FNMA likes short sales. This is becuase Fannie Mae will allow a borrower to obtain a new FNMA loan in two years after completing the short sale. This is helpful for those seeking FNMA loans after a short sale. Some of these short sales are in Florida and are so called Florida short sales as a result of them being both in Florida and well, a short sale.

In cconclusion, you may have been seeking short sale information on FNMA, or you may have been seeking Florida short salee information about FNMA. Perhaps you wanted to know about property flipping in these areas. Whatever the case, you can understand that short sales, FNMA, property Flips, and Florida all have this article in common.

Saturday, July 12, 2008

Beneficial Options for Florida Short Sales

This Florida Real estate investor enetered with an option contract that was helpful for the short sale in Florida. More has been discussed regarding Florida short sales and option contracts lately than in the past few years. Most notably, the Florida short sales with options and option contracts pending are able to process through the lender's loss mitigation department. This expedites the process and allows the short sale to close in a timely manner. The buyers of Florida short sales benefit with the Florida Option Contracts these days.

Real Estate in Florida and Short Sales with Options.

Saturday, July 5, 2008

Calculating APR for FHA using the Current Index

Some lenders calculate the current fha apr using an index for mortgage backed securities. This may help borrowers who are comparison shopping mortgage loans with a truth in lending dicslosure. Interesingly, as this article will describe, many TILs are not calculated the same way and particularly becuase the current fha apr differs depending on the variable raet adjustment.

A current fha apr is easily determined for the fixed rate loan. Variable rates however do not use a current fha apr in the same way. This makes the fha apr different currently from lender to lender. After the interest rate is determined using the appropriate current fha apr, then the point of this article is to know how that differs from the APR or annual percentage rate of other fha loan types.

Was the FHA an APR that was used for a variable rate loan? Variable rate loans are also knows as adjustable rate mortgage loans and they are required by the TILA to have an APR disclosed properly. This should result in a current fha apr that is well within the tolerance for the FHA mortgage annual percentage rate.

I'm just about done typing current fha apr for the day. Perhaps you could check back and see if current fha apr has moved higher in the search engines and if not, the the FHA APR is not currently focused on the apr in general for FHA loans. This post made no sense whatsoever.