Peter Boutell, Lending a Hand: The pros and cons of FHA loans

Posted on Oct 7, 2012 in Unique Loan Programs

Question by Matthew S: How long does it normally take for a True No Doc home loan to close?
I will be applyign for a No Doc home loan this week. I know I will get approved since my credit score is 760. What I am wondering is how long it will take from start to finish. I heard the clossing is quicker but its 2am and can’t call a mortgage broker. This is all assuming appraisal and title work is done.

Thank you for your answer.

Best answer:

Answer by ballerkickz
Matthew, try story

true no doc loans in this market are more difficult than a few years ago but could close in as quick as a week. I’ve closed a true no doc loan in as quick as 4 days. email me for more details if youd like.

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Space Needle from Belltown construction region, viagra apartment building, steel and glass, downtown Seattle, Washington, USA

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executed atom spies, Julius & Ethel Rosenberg Apartment Creating (1925), 65 Morton St., Greenwich Village, New York, New York

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From the FBI Summary of the investigation concerning Julius and Ethel Rosenberg:

The Crime Worse than Murder
Sometime ago the Soviet Government publicly announced the detonation of an atomic bomb. Previous expertise had taught us to treat lightly Moscow pronouncements. Even so, the White Home, in a solemn statement in September, 1949, associated the disheartening news that startled and then shocked the Nation.

The Kremlin had finally fathomed the secrets of the atom. Was this an inevitable accomplishment? To whom could the Russian Government pay tribute for this fateful discovery? Was it due to Russian scientific ingenuity or to American traitors?

To neither could be ascribed sole credit. Russian ingenuity in the scientific field had probably contributed immensely to this discovery. But what of the part played by American traitors? What of the component played by the executed atom spies, Julius and Ethel Rosenberg?. This then is the story of their deed of infamy — a crime worse than murder.

Origin of the Case
Information was received by the Federal Bureau of Investigation In the Summer time of 1949 that the secret of the construction of the atom bomb had been stolen and turned ever to a foreign power. Immediate investigation was undertaken. The Investigation resulted In the Identification of Emil julius Klaus Fuchs, German-born British atomic scientist. British intelligence authorities had been advised. Fuchs was arrested by the British on February 2, 1950, and admitted his involvement In Soviet atomic espionage. He did not know the identity of his American contact. The latter was subsequently identified via substantial Bureau investigation as Harry Gold, a Philadelphia chemist. On May possibly 22, 1950, Gold confessed his espionage activity to the FBI.

Investigation of Harry Gold’s admissions led to the Identification of David Greenglass, a United States Army enlisted man who had been assigned at Los Alamos, New Mexico, in 1944 and 1945, as a Soviet agent. Gold connected he had picked up espionage material from Greenglass for the duration of June, 1945, on instructions of &quotJohn,&quot his Soviet principal. &quotJohn&quot was subsequently identified as Anatoli Yakovlev, former Soviet consul in New york City, who left the U. S. in December, 1946. Interrogation of Greenglass and his wife, Ruth, resulted In admissions of espionage activity under the directions of Julius and Ethel Rosenberg, brother-in-law and sister respectively of David Greenglass. Max Elitcher, a Naval Ordnance engineer, and an admitted Communist, was interviewed. He disclosed that Norton Sobell, radar engineer and former classmate of Elitcher and Rosenberg at the College of the City of New York, was also involved in the Rosenberg espionage network.

Julius, 35 and Ethel, 37 executed 19 June, 1953 radio news broadcast

The ExecutionWikipedia
Eyewitness testimony (as offered by a newsreel report featured in the 1982 documentary film The Atomic Cafe) describes the circumstances of the Rosenbergs’ death, noting that while Julius Rosenberg died after the 1st series of electrocutions, his wife did not. Following the typical course of electrocutions, attendants removed the strapping and other gear only to have doctors establish that Mrs. Rosenberg had not yet died (her heart was nevertheless beating). 3 courses of electrocution had been ultimately applied, and at conclusion eyewitnesses reported, Bob Considine among them, a grisly scene with smoke rising from her head in the chamber.

The Rosenbergs’ Young childrenWikipedia
The Rosenbergs’ two sons, Robert and Michael, spent years attempting to prove the innocence of their parents, till 2008 when they admitted that their father had most likely been involved immediately after Sobell, at age 91, confessed. The Rosenberg young children were orphaned by the executions and no relatives adopted them. They had been lastly adopted by the songwriter Abel Meeropol and his wife Anne, and they assumed the Meeropol surname. Abel Meeropol (below the pen name of Lewis Allan) wrote the traditional anti-lynching anthem &quotStrange Fruit&quot, made popular by singer Billie Holiday. Robert and Michael co-wrote a book about the experience, We Are Your Sons: The Legacy of Ethel and Julius Rosenberg (1975), and Robert wrote an additional book in 2003, An Execution in the Household: 1 Son’s Journey.

FBI Famous Situations: The Atom Spy CaseGovernment Views of the Rosenberg Spy Case • Getty PicturesNew York Times • 58 years later records unsealed in Rosenberg spy case

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Oakland

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Apartment developing.

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Question by : Refinance with HOPE government program?
My wife and I are looking at all options for us to somehow refinance or adjust an upside down mortgage on our home here in California. We love our home & neighbors and would like to stay in it.

Ive read too many stories where people have spent thousands of dollars with lawyers, sildenafil only to lose their money becuase nothing happens in the long run (KFI-640am in Los Angeles has one shady advertiser with a D- rating on BBB).

Ive done a bunch of research… there doesnt seem like too many options out there besides going directly to my mortgage company and pleading for help. Which through phone calls have said they arent interested in helping us “at this time”.

The “Obama Plan” doesnt cover my situation since my mortgage is upside down too much.

Lastly, information pills the HOPE program reduces the loan amount to the current house value, check then does a refi, but also requires the home owner to give up 50% of any future equity in the house. The governments website of the HOPE program does not have much information on it. One glaring question I have that no one can seem to answer is: What if we pay off our loan within 30 years… do I still owe the government 50% equity after I pay off the loan (and if I sell the house)?

Does anyone have any good info about the HOPE program or any other options available to me? Any info would be greatly appreciated, thanks!
Ryan… do you want to know why I’m looking into this? BECAUSE I CAN ! Because the stupid politicians made these programs. The same stupid politicians that raped our country and gave all of our money to the Feds, to the Chinese, and to everyone else. The same idiots that nationalized our private companies.
So if we never sell, we never give up any earned equity?

Best answer:

Answer by Ryan M
1) You thought that you house was such a good deal when you bought it, so why are you crying for help now that you made a horrible investment decision? Did the structure of the house change at all??? If you bought a brand new car, would you be crying for a loan modification because you are 20% underwater once you drove it off the lot???? I don’t understand people’s logic with that. If the value of the property was continuing to go up from when you bought it, should the bank have the right to modify your loan to a higher principle??? What is the difference?
2) As for you HOPE question, you will owe 50% of the equity REGARDLESS of when you sell the property….even after you pay off the loan. ANY future equity means EXACTLY that…..ANY.

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Peter Boutell, online Lending a Hand: The pros and cons of FHA loans
You do not have to be a first-time homebuyer to take advantage of an FHA loan but you do have to occupy the home as your principal residence. Furthermore, and there is no minimum or maximum income level that has to be met to qualify for an FHA loan.
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President Obama Urges Action on Refinance Bill
This proposal, viagra dosage if passed, would allow underwater homeowners to refinance their current mortgage with FHA insured loans. Underwater borrowers are those that have a mortgage that is more than the value of the property. The targeted homeowners would be …
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How The Payroll Tax Cut Is Costing Low Income Borrowers
FHA loans have always required a “Mortgage Insurance Premium (MIP),” to fund the insurance pool used to subsidize lenders when an FHA loan goes bad. The insurance pool is the Mutual Mortgage Insurance (MMI) Fund and a Congressional mandate …
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