Lenders continue to restrict guidelines for loans, and FHA has published some new changes that should take effect this Spring and Summer. The specific changes are noted here:
http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-016
If you plan on buying or refinancing this year, it is a good idea to go ahead and talk to a lender so you know what to expect, because it will be different form the last time you bought a property. Also, it is a good idea to keep an open dialouge with that lender - say, if you want to buy in 6 months, my recommendation would be to make it a point to speak monthly because guidelines are changing frequently these days and you don't want to be surprised, you want be prepared, once you find the perfect property.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment