We believe our clients must be informed of the process of purchasing most likely there largest
investment in their lifetime, Real Estate. We are constantly updating our clients of the
process and hope with this information the buyer can comfortably move thru the process
easily and with success.
Into us from our Mortgage Partner, Gold Star Financial, Mortage Originator, Lynn Whitefall,
have recently updated the Realtors of the Henri Frank Group at REMAX Preferred. I wanted
to share this news with you.
FHA has made some significant changes to their quidelines. As of April 1, all collection accounts cumulative of $1000 or more will be required to be paid or have payment arrangements made for a minimum of 3 months. Our warehouse lines are determining if medical collections can be waived, but as of right now they are included. The great news is, private mortgage insurance companies are insuring up to 95% and Fannie Mae Homepath finances up to 97%. We will use these options to compensate for this change in our pre-approval process and I will make sure these collection accounts are addressed.
If you are working with any clients that currently have collections and are FHA approved, please make sure they have addressed this. Or ask them to contact me at 754-245-3003 right away and I will be happy to assist them. Also they can email me at firstname.lastname@example.org
The Henri Frank Group of REMAX Prefered in working with its Real Estate Transaction partners, updating their clients to make the transaction process smooth. It is the goal of our Group to keep our clients informed through out the process.