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celloshred
1849 Posts |
 Posted - 05/30/2008 : 12:55:41 PM
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| Thank you. |
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MisterVA
6630 Posts |
Posted - 05/30/2008 : 1:56:08 PM
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| White House Mortgage. |
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celloshred
1849 Posts |
Posted - 05/30/2008 : 2:56:39 PM
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| awesome. |
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BigFire
2962 Posts |
Posted - 05/30/2008 : 3:47:47 PM
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| Hello Michael - We do not do FHA Secure. Are you FHA approved? If so, we can sponsor you. If interested, please call me @ 310.498.2332. Thanks, Jay |
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ppulatie
2259 Posts |
Posted - 05/30/2008 : 3:50:52 PM
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| Everyone claims to do FHA secure, but try to get one approved..... |
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ladysammm
352 Posts |
Posted - 05/30/2008 : 5:41:31 PM
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Assurity Financial is a HUD approved Secure lender. if you are approved with us call your AE. if not I would be happy to help you with your loan. 65% of our FHA loans are manually approved.
pam.kirchner@assurityfinancial.com Wholesale AE
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EquitySmart
1240 Posts |
Posted - 05/30/2008 : 5:57:53 PM
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FHA secure may seem like a good idea on the surface, but it actually does not make any sense. If the client had an ARM that adjusted (giving them higher payments) all normal people will place priority on staying current on the mortgage and letting the lates pile up on the other installment loans and credit cards they have, rather than risk losing the house with mortgage lates (and staying current on all other credit accounts).
Thus instead of being able to help these borrowers, you have the situation where they would (hopefully) qualify for a normal FHA loan (since they are current on the mortgage) but often will be declined, due to excessive lates on the other credit accounts.
Generally speaking, this equation is true: FHA secure = complete waste of time. |
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liverichly
3936 Posts |
Posted - 05/30/2008 : 6:02:35 PM
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| I've been succesful with 3 FHA Secure loans so I don't think it's a waste of time. Good idea, not as many people qualify for it as you'd think, but there are definitely people out there who qualify. |
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mortgagegirl1010
203 Posts |
Posted - 05/30/2008 : 6:15:15 PM
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| Indymac is |
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EquitySmart
1240 Posts |
Posted - 05/30/2008 : 6:19:55 PM
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quote:
Originally posted by liverichly
I've been succesful with 3 FHA Secure loans so I don't think it's a waste of time. Good idea, not as many people qualify for it as you'd think, but there are definitely people out there who qualify.
Well maybe there are people in your area who think its better to pay car loans and credit cards on time while risking losing the house with mortgage lates - those people don't seem to live near me - glad to hear you are finding people to help |
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mudshark
3836 Posts |
Posted - 05/30/2008 : 9:57:10 PM
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quote:
Originally posted by liverichly
I've been succesful with 3 FHA Secure loans so I don't think it's a waste of time. Good idea, not as many people qualify for it as you'd think, but there are definitely people out there who qualify.
That must be half the national production for this product. |
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fsboguy
3664 Posts |
Posted - 05/30/2008 : 10:05:30 PM
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As of December 2007 only a hand full have funded after 1000's of applications. It's an election year. Go figure. A 20% success rate is not stellar. But it does follow Bush's approval rating. Go figure. This program is a joke.
Save your time and and resources and find someone that will close. Numbers don't lie and FHA Secure numbers don't give me a hard on.
http://www.cnbc.com/id/22344266 |
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