Danell Merren's (danelliccf) Blog

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Mortgage and Lending - Providence Home Mortgage/ICCF
RECENT BLOG POSTS
Are you looking for a low down payment program for you or your buyer? Do you think all those "down payment assistance programs" went away? True down payment assistance programs are still alive and well! At Providence Home Mortgage we use several including the City of Grand Rapids Homebuyers Assis...
12/13/2008
People may think I'm crazy, but I am still focusing the bulk of my attention on purchase business! While refinancing into a lower rate looks and sounds great at first glance, all too often in our declining Michigan market, it is not realistic- most callers we see who inquire about refinancing sim...
12/12/2008
Are you or your buyer looking for a low down payment? Look no further! HUD (Housing and Urban Development) is still offering the $100 down incentive program when purchasing a HUD home (FHA foreclosure) in distressed areas like Michigan! HUD will pay $2,500 in closing costs for the buyer and a $50...
12/12/2008
I am happy to spread the news that we are up and running with the 203K FHA loan! This is a wonderful product that can be a huge tool in our local Michigan market with so many foreclosures. Features of the program include: Up to $35,000 in repair escrow available! No minimum repair amount (unlike ...
12/12/2008
I hate to call myself a pessimist and one definitely needs to have a "glass half full" approach in these unprecedented housing market times. However, I find it hard to believe that Hope 4 Homeowners will take flight the way our government speculates when FHA Secure has already shown a slow start,...
11/21/2008
I am gearing up to do the 203K FHA loan product. I have found one direct/retail lender who will allow us to send these their way and receive a referral fee for doing these. I am excited about this possibility as finding wholesale lenders for this product has posed a bit challenging. Does anyone k...
11/12/2008
Until recently, it seemed pretty safe to assume that if a borrower did have a foreclosure or did a short-sale to prevent a foreclosure, that they would be protected from future claims from the mortgage company or companies. I can't speak for areas outside of Michigan, but I can tell you that in M...
11/07/2008
I've been in the housing industry for a little over ten years now, and have been a loan officer for almost five years. I still keep hearing Realtors I know say that their deals are falling apart, and I am astounded! At least four Realtors in four weeks time have shared with me their recent horror...
11/07/2008
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Now more than ever a great credit score seems imperative in securing the best financing. That's right, I said great! I did not say good. Gone are the days where a 580 score would buy you a home, at least most of the time. You might get lucky and get approved for FHA on a manual review with a 580 ...
10/29/2008
I am an avid reader of Money magazine. In fact, I just blogged a couple days ago about Flying Tips during the holiday season: http://activerain.com/blogsview/761519/Flying-Tips-This-Holiday-Season, and many of the tips were from Money. In their November issue they give a money tip to avoid broker...
10/29/2008
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Danell Merren

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