Aurora HOAP

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  CITY OF AURORA HOME OWNERSHIP ASSISTANCE PROGRAM Founded in 1984, the City of Aurora’s Home Ownership Assistance Program (HOAP) is dedicated to making affordable housing a realization for low to moderate income families in Aurora. This is a one time assistance per family program. NEW REQUIREMENTS FOR CLOSINGS OCCURRING ON/AFTER 02-01-2014: BUYER CANNOT ALREADY […]

Top Reasons Mortgages Had Problems with 2013

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People are really unique and because of this every mortgage is unique.  Almost every loan will have an issue that requires further documentation and some will have many issues. Over the years I have compiled the “avoidable problem” list. I send this to everyone early in the process because if I know about these things […]

Simple Tips to Fix or Improve Your Credit Score

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Is your credit score less than perfect? If so, you’re not alone. In fact, almost nobody has a perfect credit score. A perfect credit score is 850. But is this number even reachable? Is a score of 850 even necessary? Your credit score is important because the number greatly influences how much credit you can […]

Hud is making changes to the MIP premiums

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U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSINGFEDERAL HOUSING COMMISSIONER www.hud.gov espanol.hud.gov January 31, 2013 To: All Approved Mortgagees Mortgagee Letter 2013-04 Subject Revision of Federal Housing Administration (FHA) policies concerning cancellation of the annual Mortgage Insurance Premium (MIP) and increase to the annual MIP Purpose Consistent with FHA’s […]

HUD is extending Loss Mitigation options

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U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT WASHINGTON, DC 20410-8000 ASSISTANT SECRETARY FOR HOUSINGFEDERAL HOUSING COMMISSIONER www.hud.gov espanol.hud.gov January 31, 2013 MORTGAGEE LETTER 2013-03 To All FHA-Approved Mortgagees, Single Family Servicing Managers Subject Extension of Implementation Date for Mortgagee Letter 2012-22, Revisions to FHA’s Loss Mitigation Home Retention Options Purpose The purpose of this Mortgagee […]

Pending home sales were up 9.8 percent in the 12 months through November, the National Association of Realtors said.

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WASHINGTON — Contracts to buy previously owned U.S. homes rose in November to their highest level in 2-1/2 years, an industry group said on Friday, further evidence of a strengthening housing market recovery. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed last month, increased 1.7 percent to 106.4 […]

Mortgage delinquency rate drops in Colorado and Nationwide

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Mortgage delinquencies on homes in Colorado dropped in third quarter 2012, The state of Colorado currently has one of the lowest rates residential foreclosure rates nationally, according to the American Bankers association. The current delinquency rate of 5.04% and the number of foreclsoures starts fell to .57% during the quarter , and the number of […]

Big Banks Struggle with Service Issues

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The Service at Big Banks is Angering Customers (Reuters) – Big U.S. banks are hiring mortgage lenders to meet a surge in demand for home loans and refinancings, but they are still struggling to process applications, which could undermine the Federal Reserve’s attempts to stimulate the economy.               Since the Fed announced its plan in […]

According to Gallup, The Improved Housing Market is Lifting the Mood of Americans

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Americans feel a lot better about the economy and the improvements in the housing market are a big reason for that. Optimistic consumers spend more, which further stimulates the  economy. The recent interest rates are working to free up the budgets of millions of households by lowering home mortgage payments.  Unfortunately,  housing traditionally lifted the economy out of recessions […]