8 scenarios that hurt mortgage qualification

“8 scenarios that hurt mortgage qualification What you should know if you’re divorced or have student loan debt Do I jeopardize my mortgage application by changing jobs before the loan closes? Yes. The underwriter approved your application based on your documented income covering two years or longer, from one source. At closing you must certify …

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Congress votes to restore FHA loan limits

House and Senate leaders signed off on a conference report for a “minibus” appropriations bill that included language restoring FHA’s ability to insure loans of up to $729,750 in high cost markets through 2013. Because the minibus appropriations package also contains a continuing resolution to avoid a government shutdown and continue federal operations until Dec. …

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Newport moves closer on affordable housing

Area for development is near John Wayne Airport, where a total of 2,200 homes are allowed. Agreeing to lift constraints on affordable housing development, Newport Beach officials have received tentative approval of the city’s housing blueprint. Regulators from the state Department of Housing and Community Development said last month that the city’s moves would bring …

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Five bright spots in real estate recession

The real estate market meltdown was much more severe and has lasted much longer than even the most bearish housing market observer would ever have predicted. Rather than values taking a dip, they’ve taken a double dip in many places; and the housing sector drama has infected the job market and the entire world’s economy. …

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