pwarnerrealtor.com

New listing 329,999 Partially Finished basement with bathroom, game room/ Media room.

NEWS BLAST!! FHA announced Thursday 8/18/13 that borrowers documenting an "Economic Event" may only have to wait 1 year from foreclosure or deed in lieu of foreclosure versus the current standard of 3 years. Documenting the "Economic Event", ... proving a 20% reduction in household income, and other stipulations must be met. The mortgage industry needs a little time to digest and we are actively pusrsuing how underwriters and lenders will interpret the new guidelines. Please call or email with any questions and we will give you updated info as it comes to us. This is FABULOUS NEWS !!!!

We wanted to make sure that you are aware of the upcoming changes for FHA loans. You need to get the contracts to us before Thursday, May 30. This will enable us to order the FHA case numbers on Friday May 31. After June 1 FHA will have monthly mortgage insurance that stays with the loan for the life of the loan. Currently the monthly mortgage insurance goes away after the loan reaches 78% loan to value. (minimum of 5 years)