LenderBradford's Blog

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Mortgage and Lending - NMLS142066/250013
Information about Financing Options in Northern Ohio as well as information about people, places and events in Northern Ohio. Northern Ohio is a Great Place to live and work.
RECENT BLOG POSTS
Below is the announcement of 4 Proposed changes that are planned for FHA Loans.  Each of the 4 changes(or Proposed Changes) will be addressed in individual posts and I encourage everyone to express their opinions here and also when Public Comment is available for items 2 & 3, I will encourage eve...
01/20/2010
Below is information and guidance from FHA ML 09-52.    Anyone dealing with a Short Sale Seller where the Seller is wishing to purchase another property will want to read this.  These rules may permit an opportunity for a seller to purchase another property without waiting the Three (3) years as ...
12/17/2009
This is a Members only post and I am looking for feedback about this Quick Reference to the NEW GFE.  I agree with HUD's Intent that consumers need to shop and compare GFE, however I believe there is a big problem with the New GFE.   I see no problem with the two Origination Fee Items (Box A) on ...
12/15/2009
Below is information about grant/loan funds that are available to buyers of foreclosed homes in some Northern Ohio Communites.   Other Programs for Non Foreclosed homes or other Cities in Cuyahoga County. For additional information, please contact me.  FORECLOSED HOUSE BUYERDOWNPAYMENT ASSISTANCE...
11/27/2009
This is a very good post by Ken about things that can be done with a FHA 203K Rehab loan.   For additional information check out www.Ohio203K.comSo you or your client have found a home in a great area in the client's price range. Only one problem: it's in bad shape. The HVAC system is 50 years ol...
11/20/2009
I believe this is good advise and information for buyers in Ohio Also. Many REALTORS® and even attorneys have fallen to the mistaken belief that the FAR-9 contains a contingency that permits the Buyer to unilaterally terminate the transaction in the event the Property appraises below the Purchase...
11/15/2009
Great post and read this twice ...............  How Do APR Predators Work?     Many sophisticated borrowers shop interest rates by searching for lowest APR which, if property stated, is a valid way to compare similar loans.  Unfortunately, APR is not always stated properly. How is advertised APR ...
11/13/2009
 This is from the NAR website of the current provisions, I suspect that there will be some revisions however for the time being this is a good reference.  For home buyers in Ohio, they also want to check out the Ohio Housing Finance Agency's Mortgage Credit Certificate Program, because it can eas...
11/07/2009
If you are looking to buy a home in Rural Ohio, you may want to check out the USDA Rural Home Loan Program.   If you are below these income limits, you may qualify. New Income Limits Effective 4/20/2009   1 Person-4 Person 5 Person-8 Person Cleveland MSA 74,550 98,400 Akron, OH MSA 74,750 98,650 ...
10/27/2009
I am rebloging this to hear from people that disagree with this proposal.  I did post this on the blog itself because out of 173 posts I counted only 8 that disagreed.  Here are my comments, let me know if I am off base.  Because this post was featured in the daily email and I thought the Title w...
10/24/2009
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Tim Bradford

NMLS 250013
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Information about Financing Options in Northern Ohio as well as information about people, places and events in Northern Ohio. Northern Ohio is a Great Place to live and work.