Family loans remain a solid down payment option

The Federal Housing Administration (FHA) recently altered its guidelines as a result of the Economic and Housing Recovery Act of 2008. One significant change was the elimination of the seller-funded down payment assistance program. Often used by builders through non-profit organizations such as Nehe

A Bad Wrap! by David Reed

We’ve all heard the term, “wrap around,” but what exactly does it mean? A wrap around mortgage, or simply a “wrap,” is an agreement where the buyer of a property makes monthly payments to the seller of a property, who then pays the original lender each month. This is perceived as a way of an owner “

Getting a cash gift? Lucky you! by David Reed

Getting a gift in the form of cold, hard cash to buy real estate is a wonderful thing. Gift funds are a common way parents help their kids buy a home, but there are certain requirements to follow to ensure the gift transfer goes smoothly. What exactly is a cash gift? Technically, it is a transfer of

Credit issues? Your lender can help. By David Reed

July 28, 2008 We frequently hear we’re supposed to regularly check our credit reports. And staying on top of this is especiallyimportant when starting to shop for a new home. There are three main credit bureaus: Equifax, Experian, and TransUnion. These bureaus store consumer credit histories by the