Save Me Money and I’ll Be Your Friend

By Dona DeZube, Chief Content Officer at HomeActions

Once you've helped someone buy a home, you quickly fade from their lives unless you give them a reason to stay in touch with you. Since everyone likes to save money, sharing articles about reducing homeowners' ongoing costs is a great way to make your clients keep opening your emails.
I see how well that strategy works when I look at which articles were clicked on by the more than 1 million homeowners who received the HomeActions e-newsletter in August.
The most-opened HomeActions article in August was Will Shutting Vents Cut Your Energy Bill?
The article, based on a blog from one of my favorite energy experts, explained why shutting too many vents can cause problems in your HVAC. The article worked because it delivered an "ah ha!" moment to viewers who thought they were saving money by closing off HVAC vents in their home.
You wouldn't expect an energy-efficiency story to be contentious, but this one was. One viewer suggested the article was funded by oil companies. Ironically, there was also an email from a viewer with an oil company email address arguing that shutting vents couldn't possibly harm the HVAC.
A few days later, a viewer wrote one of our Realtor clients and said the article was spot on. He'd had to pay $6,000 to remediate mold caused by shutting off about half the vents in a home.

http://retechnology.com/broker/articles/save-me-money-and-ill-be-your-friend?utm_campaign=lista-daily-ab&utm_medium=email&utm_source=newsletter_9504

FHA to eliminate “post payment” interest charges

WASHINGTON – Aug. 27, 2014 – The Federal Housing Administration (FHA) today announced that borrowers who prepay their FHA-insured mortgages will not have to make interest payments beyond the date their mortgage is paid in full.
FHA's rule, Handling Prepayments: Eliminating Post-Payment Interest Charges, applies for FHA-insured mortgages closed on or after Jan. 21, 2015. This rule explicitly prohibits lenders from charging borrowers post settlement interest, which is broadly defined as a "prepayment penalty" by the Consumer Financial Protection Bureau (CFPB), for all FHA Single Family mortgage products and programs.
In addition, FHA announced a new rule to ensure borrowers have early access to information when making decisions about their FHA mortgages. Effective for FHA-insured Adjustable Rate Mortgages (ARMs) originated on or after Jan. 10, 2015, this rule makes two revisions to FHA's ARM Program. It requires lenders:
″ To provide borrowers with FHA-insured ARMs at least a 60-day, but no more than 120-day, advance notice of an adjustment to their monthly payment. FHA currently requires a 25-day advance notice.
″ To base an interest rate adjustment that results in a corresponding change to the borrower's monthly payment on the most recent index value available 45 days before the date of the rate adjustment (commonly referred to as a "look back period"). FHA currently requires a 30-day look-back period.
The new rules result from regulations in the Truth-in-Lending Act (Regulation Z) as revised last year by the CFPB.
© 2014 Florida Realtors®
 

Homelessness: Gov. signs bill, HUD allocates money

WASHINGTON – June 20, 2014 – The fight to help Florida's homeless population received positive news today from two fronts: Gov. Scott signed HB 979, a bill backed by Florida Realtors; and the Department of Housing and Urban Development (HUD) allocated over $10 million dollars to 40 programs that serve Florida's homeless residents.

Florida HB 979

A bill passed by the 2014 Florida Legislature introduced by Rep. Kathleen Peters (R-St. Petersburg) establishes challenge grants for local homeless coalitions, nonprofits and other agencies that assist the homeless. It also provides the agencies with training and technical assistance. It's effective July 1.

A final analysis of the bill is available online. It includes of overview of Florida's homeless agencies and how the program is organized.

HUD funding

HUD Secretary Shaun Donovan announced Florida agencies for the homeless would receive $10,207,015 through a second round of grants. Nationwide, HUD granted $140 million to nearly 900 local homeless assistance programs.

Provided through HUD's Continuum of Care Program, the funding announced will ensure additional permanent and transitional housing renewal projects are able to continue operating in the coming year, providing housing and support services to families experiencing homelessness.

"Communities all across the country are changing their approach to reducing homelessness and now is not the time to retreat from doing what we know works," said Donovan.

Earlier this year, HUD awarded $1.6 billion in the first round of funding to more than 7,100 existing local homeless programs operating across the U.S.

Homelessness: Gov. signs bill, HUD allocates money

Visit and Search for your Dream Home

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FHA Loan Types

Choose from Several FHA Mortgage Programs

Fixed Rate FHA Loan

An FHA loan benefits those who would like to purchase a home but haven't been able to put money away for the purchase, like recent college graduates, newlyweds, or people who are still trying to complete their education.

Adjustable Rate Mortgage (ARM)

The FHA adjustable rate mortgage is a HUD mortgage specifically designed for low and moderate-income families who are trying to make the transition into home ownership.

FHA Secure Refinance Loan

Many homeowners with adjustable rate mortgages find themselves in financial trouble because of current interest rate increases. FHA Secure refinancing can help when foreclosure is a threat.

FHA Reverse Mortgage

An FHA reverse mortgage is designed for homeowners age 62 and older. It allows the borrower to convert equity in the home into income or a line of credit.

Energy Efficient Mortgage

The FHA Energy Efficient Mortgage program helps current or potential homeowners significantly lower their monthly utility bills and incorporate the cost of energy efficient improvements into their mortgages.

Graduated Payment Mortgage

Graduated Payment Mortgages are FHA loans for home buyers who currently have low to moderate incomes but expect them to increase substantially over the next 5 to 10 years.

Growing Equity Mortgage

FHA Section 245(a) allows those who currently have a limited income, but expect that their monthly earnings will increase, to purchase a home with the help of a Growing Equity Mortgage in which payments start small and increase gradually over time.

FHA Loans for Condominiums

FHA condominium loans, sometimes called condo loans, are specifically designed toward those who purchase housing units in a condominium building.

Other Loan Types

Various loan options are available for those who prefer not to use the loans noted above. These alternatives include VA loans, conventional loans, jumbo fixed rate loans, among others.

Source: https://www.fha.com/fha_loan_types