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Dennis Norman The Federal Housing Administration (FHA) announced this week that it intends to make modifications to its Home Equity Conversion Mortgage (HECM), a reverse mortgage loan insured by the federal government, to make it more attractive and cost effective for older home owners seeking to tap their home equity. A HECM [...]
Dennis Norman Annually, HUD determines “fair market rents” which become effective October 1st each year and are used to determine rent amounts under the Housing Choice Voucher program, Housing Assistance Payment Contracts, Moderate Rehab programs as well as other Section 8 programs. Earlier this month HUD published in the Federal Register it’s proposed fair market rents [...] Dennis Norman With all the negative things I have been discussing about the real estate and housing market lately, it is refreshing to actually get to write something positive for a change. Last week HUD released it’s Housing Market Report for 1st quarter 2010 and it contained some reasonably good news for investors, or at [...]
Dennis Norman Back in January I did a post about FHA’s decision to temporarily (until February 1, 2011 if not revoked earlier) waive their “anti-flipping” rule, thereby allowing homes to be resold with FHA-insured financing even if the sale took place within 90 days of the selling acquiring the property. There were, of course, conditions [...] Dennis Norman Recently HUD published a report, “U.S. Rental Housing Characteristics: Supply, Vacancy, and Affordability“, which was packed with data about the rental housing market. The data in the report clearly illustrates that the rental market is holding up pretty well, at least in the lower rent price-ranges, while the for-sale housing market has been getting [...]
Dennis Norman In an effort to “stabilize home values and improve conditions in communities where foreclosure activity is high” FHA just announced a temporary waiver of requirements of 24 CFR 203.37a(b)(2). For those of you that don’t have your copy of the Code of Federal Regulations handy, this is referring to what is generally known [...] Today the U.S. Department of Commerce reported new home starts for March were down 10.8% from February and down 48.4% from a year ago. By: Dennis Norman As I jump around the interenet reading various blogs, news articles and the like about investing in real estate it amazes me how many people out there are looking for REO’s (a label banks and other lenders give the property they take back in foreclosure, Real Estate Owned) as if they are the [...] By: Dennis Norman A couple of weeks ago I made a post about renting property under Housing Choice Voucher program and offered it as something you may want to consider. Included in my post was reference to the fact that in order for your property to be eligible for this program it had to meet some basic [...] What is a HUD Home? Who can buy a HUD Home? By: Dennis Norman You may already be renting your homes to one or more of the 1.95 million families that receive rental assistance under HUD’s Housing Choice Voucher program, however if not you may want to consider doing so. What is the Housing Choice Voucher program? This is a program that was established in 1974 and known as “Section 8″ to [...] |
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