| Recent Answers from Tom Burris |
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2008-09-23 Co-Ownership: You have issues that I cannot really advise you on here, but I can answer the mortgage part. If she tries to refinance without him, he would have to sign the deed at closing conveying his portion of the...
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2008-09-16 PAYING OFF ONLY COLLECTION ON CR: Do not pay this until after you get the keys to your home!! You could do more harm than good. FHA never asks that collections be paid. Fannie Mae / Freddie Mac loans hardly ever do either. If your loan...
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2008-09-14 Government take over of Freddie Mac & Fannie MAE: There is a program called the HOPE Program. It is a part of the newest bill by congress to deal with people who need help. The other options didn't help very many people. Keep your eye on that HOPE Program...
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2008-08-18 Buying a home: FHA is pretty forgiving on scores. What have the scores come up to since you paid off the cards? You will not necessarily have to wait 12 months. Automated underwriting can approve you with recent derogatories...
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2008-08-07 Primary Residence as Rental Property: I know of 'no guideline' that specifically spells out 6 months. If this were true, all of the real estate investors would be buying 2 'owner occupied' homes per year. I think this guideline is vague...
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