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
Just recieved this notification that the new Condo Guidelines are being delayed again.   One issue that was of interest to me was how Lenders were suppose to evaluate the Reserve Requirements.   On another post here on Active Rain it was said for existing Condominums the guideline would be reserv...
10/21/2009
Dawn,   As others have said your post it timely and excellently written.  As you said the guidelines presently call for 2 years after Completion date. (no exception per present FNMA guidelines)  If a seller is in the position where a mortgage modification that is acceptable to the lender and affo...
10/10/2009
Chirs, Thanks for the mention in your post.    I do agree that anyone looking to purchase and take advantage of the $8,000 should step up their house hunting.   On an added note there are additional tax credits from the Ohio Housing Finance Agency.  Information and a calculator can be found here....
10/05/2009
Thank you Jeff for a great presentation about some of the advertising that consumers see daily.  Being in the mortgage industry for many years I am still surprised how many consumer believe these ads.  With regard to the false or misleading ads, I suspect that these companies are more than willin...
09/29/2009
If cash for the down payment is an issue for you and you are looking for funds to make a purchase of a home for your family, you may wish to look at HUD Homes because you can purchase most of them with only $100.00 Down.   Also, in most cases HUD will also pay $2,500.00 in your closing costs and ...
09/14/2009
For any parents with children that are headed off to college this may be an option to consider instead of paying the dorm fees.      FHA Loans – FHA Mortgages Non Occupanying Co-Borrower loans - Kiddie Condo loans       FHA loans have many features that still aren't talked about as much as one wo...
09/14/2009
This is a question every home buyer should ask themselves especially if your Realtor/Agent has not encouraged you to Shop, Compare and Save.  Above and beyond the Rate of Interest and Closing Costs, buyers need to keep in mind that one person/house is controlling the entire transaction.  Recently...
09/13/2009
Below is one section of a Sellers Addendum that I believe needs to be reviewed with any buyers.  Look at section (b).    I think most know that seller addendums like these were written by the attorneys for the sellers and the clients they represent.    The wording you see in section (b) is simila...
09/11/2009
In todays market, The FHA Loan option can be the best option for many homebuyers.  This article explains some of the myths and inaccurate information that is being said about FHA Loans.  Buyers and Sellers both can learn by reading this post.  Thanks Jeff, for another Great Post!!!   As many of ...
08/29/2009
Having received a number of calls from Buyers and Realtors that have been told the FHA 203k Rehab/Repair Loan is not longer available, Let me assure everyone that in fact it is available.   Check out www.Ohio203K.com for complete information.  For Buyers and Realtors that did not know it is an ex...
08/28/2009
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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.