When is a Foreclosure not a Foreclosure?

If you are one of the 4.9 million consumers who lost their home to foreclosure since 2008, you may be wondering how you will ever qualify to purchase a home again. It is likely the rest of your credit profile remained intact and you have sufficient income to support a house payment…but you think the […]

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Updates for Short Sale & Deed in Lieu Loans You Can’t Afford to Miss

On June 17 Fannie Mae (FNMA) quietly announced some fairly significant guideline changes for consumers who have previously sold a home via short sale or gave the home back to their lender via a Deed in Lieu of foreclosure (Boomerang Buyers). Formally titled “Desktop Originator/Desktop Underwriter Release Notes, DU Version 9.1 August Update, June 17, […]

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Pre-Approval versus Pre-Qualification

Loan Pre-Approval versus Pre-Qualification: There’s An Important Difference I often hear “pre-approval” and “pre-qualification” spoken about as if they are the same thing and that couldn’t be further from the truth.  Part of the confusion is that there is no legal definition of either term.  If you view the loan question forums on Zillow and […]

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HARP Extended For Spokane Home Owners

HARP 2.0 Extended For Spokane Home Owners   Currently set to expire at the end of this year, the Making Home Affordable Refinance Program (HARP) has just been extended two years until December 31, 2015.  “More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk,” said FHFA Acting […]

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