NEW SIP Showing Order & NAR Mandatory Clear Cooperation Rule Effective May 4 – New Showing Order Service providers that enable real estate transactions (including rentals, leases, and home sales), including, but not limited to, real estate agents, escrow agents, notaries, and title companies, provided that appointments and other residential real estate viewings must only…
Category: FHA Loan
Update on New Laws Related to Listing and Buying Homes in the Bay Area During Shelter in Place
Hi everyone! I hope everyone is sheltering in place as much as possible and be careful when they need to leave home.I just wanted to share with everyone the latest update I just received from BayEast, our local real estate Board. Long story short, Real Estate Photographers have now been classified as essential workers so…
Non-Borrowing Spouses on Reverse Mortgages May Be Able to Stay in Home After Borrowing Spouse Dies
Eligible non-borrowing spouses may avoid foreclosure based on FHA guidelines released in Mortgagee Letter 2015-15. When a reverse mortgage borrower passes away, a lender may now choose to foreclose the home or use a Mortgagee Optional Election Assignment (MOE). The MOE further defers the repayment of the reverse mortgage for the non-borrowing spouse. In other words, non-borrowing spouses may have the opportunity to stay in their homes after their loved one’s passing….Robin Watson-Bird, Ph.D. is a seasoned California Real Estate Broker and REALTOR based in Livermore CA who serves most of the Greater Bay Area and parts of the Central Valley. Robin can be reached by phone/text at 925-577-8692 and via email at Robin@NoPressureRealty.com
Vacaville Home for Sale! Large 4 Bedroom 2 1/2 Bath Travis School District Home on Large Lot With Lots of RV Parking- Only $385,000
Robin Watson-Bird, Realtor, Broker, Robin Bird Team. 925-577-8692. Very comfortable & spacious 4 bedroom, 2 1/2 bath East Facing Travis School District 1851 sq ft home with large kitchen and separate living, family & dining rooms. Partially updated with dual pane windows, updated hall & guest baths, some fresh interior paint and baseboards, as well as new tile entry. Generous master bedroom with walk in closet and comfortable auxilary bedrooms. Large lot with RV Side Access & Concrete Pad behind fence, private back yard with storage sheds, relaxing covered patio, dog run, expansive open play space & garden area backing canal. RV driveway/parking in front too! Great for entertaining and larger families. Don’t miss this one.
FHA Flipping Rule & VA Loan Amount Updates
The FHA Guidelines are changing -more stringent on Flipping Rule and appraisals for 2015. VA Loan Limits are Changing at the end of the end too. The VA loan limit for Alameda and Contra Costa County has been reduced from $1,050,000 to $625,500 effective midnight December 31, 2014 Contact Robin Watson-Bird of the Robin Bird Team for more info 925-577-8692
FHA Changes Effective January 1, 2014
Effective January 1, 2015, FHA will have let their 90 day waiver on flipped properties lapse. This means that after January 1, 2015, a borrower wanting to purchase a flip will have to wait 6 mos + 1 day to purchase.This change will affect both buyers as well as sellers who are flipping properties. In my opinion, it will likely slow the sale of flipped homes and even lower the price of them in areas where FHA financing is the norm and so is flipping property since supply and demand will be affected.