13 Responses to FHA Costs On The Rise Again

1. on February 15, 2012 at 4:44 pm — Linda Weathers says:

   I have 2 sellers each getting $30,000 from Chase. Plus one of them is also getting the $3,000 for HAFA so she’s getting $33,000.

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2. on February 15, 2012 at 9:33 am — Rick says:

   Rewarding irresponsible behavior? If the bank is saving money by paying off a homeowner or forgiving a debt in a short sale then how is that irresponsible? What is he responsible is our government propping up banks that should’ve failed due to their responsible lending and management practices. You’re responsible is our government not prosecuting the felonies that were carried out by these banks and lending institutions. Personally if a person is not defrauding the bank and honestly has a hardship then where is the responsibility for a bank to make their decision based on what cost them the least amount of money to correct a nonperforming loan.

   I work every day with people that are honestly suffering the effects of government intervention in our marketplace and truly fraudulent activities by large corporations in the lending industry. When you say irresponsible on your webcast you sound as though you are claiming moral superiority but I bet your to be different if you are facing a family who honestly want to do the right thing but since the rules have been changed in our industry and our equities have been eroded due to corruption of our free-market their options are extremely limited.

   Keep up the good work guys but please think about the words you use when you’re talking about real people that are really suffering.

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3. on February 15, 2012 at 7:37 am — Dean Eshelman says:

   Not so fast guys. Banks are giving up to $35,000 on a short sales. Better not have a second. Good old Chase says you have $35,000 on the HUD for the homeowner, we want $20,000 of it plus the $3,000 offered to us to settle the second. So I ask you does this program really work or does greed on the part of the 2nd mortgage servicers set in. My bet is on the latter.

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4. on February 15, 2012 at 7:29 am — Kirk says:

   Chase is doing this in CO also.

   Reply
5. on February 15, 2012 at 7:26 am — john h. p. hudson says:

   “One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” – Plato

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   • on February 15, 2012 at 1:40 pm — Nick says:

     john h.p.h:

     The only reason he used the word “inferior” is the that socialism et.al.
     was not established and named at that time. He was the socialist of his time in theory.

     Real Estate is Politics and you cannot avoid the fact.

     Reply
6. on February 15, 2012 at 6:58 am — Mark Kiley says:

   What banks and loan servicing companies are sending out CFKs checks on short sales. I want to work for these guys in NH!

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7. on February 15, 2012 at 6:20 am — Nick says:

   When our industries acknowlege the fact that this is a tax for entitlements and nothing else we may be able to respond in a different manner.

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8. on February 15, 2012 at 4:22 am — Jimmy Mac says:

   For our social network marketers, UPS and Kabbage has teamed up to allocate Small Business Loans to companies who have a significant “Online” pressence. Very interesting on how they measure your compnany, not by revenue but by online activity!

   http://www.ajc.com/business/ups-partners-with-company-1349558.html

   Atlanta wants you guys back soon!

   Reply
9. on February 15, 2012 at 4:15 am — Dave Sullivan aka TheCreditGuy.TV says:

   Have fun in Florida, when are you coming to Michigan?

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10. on February 15, 2012 at 2:48 am — Greg Grapsas says:

    Anybody know when that FHA MIP is rising again? I still haven’t seen a mortgagee letter on it yet.

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    • on February 15, 2012 at 4:22 am — don says:

      The mortgagee letter is due around March 1st. Will be effective April 1st. Additional changes coming too. Looks like a small decrease for streamline refi’s, but look for a 10 bps increase on MIP purchases.

      Reply
      • on February 15, 2012 at 11:32 am — Greg Grapsas says:

        Thanks! will the date be driven by case number assignment?

        Reply