(719) 287-1049

ERA Herman Group Real Estate

Serving Colorado Springs

FHA 203K loans and HUD properties, perfect partners

Colorado Springs Vintage Homes Blog  How can I finance a Colorado Springs HUD homes? Search for Colorado Springs HUD homes Related Articles: Facts, figures, and details from HUD How do I find HUD homes listed for sale in Colorado Springs?  Bids on Colorado Springs HUD homes are handled 2 different ways  No utilities are on for most Bank-owned properties in Colorado Springs  HUD’s Good neighbor program, Half price homes There are currently 43 HUD homes for sale in the Colorado Springs area and 12 under contract.   With new properties coming on the market...Continue Reading!

Short Sale borrowers can buy again

Colorado Springs Vintage Homes Blog New rules for FHA borrowers who previously had a short sale Since Colorado Springs, like many places in the US have their share of homeowners who have done short sales, I was really glad to see that HUD released some new guidelines about Short Sale Borrowers and information on when they may be eligible for a FHA loan.  There are many reasons to do a short sale (12 Acceptable Reasons for a Short Sale) , and in my opinion, some are...Continue Reading!

FHA loan changes coming soon

Attention Colorado Springs first time home buyers For a free Buyers Guide, Email Kathy Torline at [email protected] Must read posts: Credit score explanation Pre-Qualification or Pre-Approval, which do you need to buy a home? Why do I have to pay mortgage insurance? 26 criteria used to determine interest rates HUD Secretary Shaun Donovan recently announced some changes to FHA loans that could come as early as the first quarter in 2010.  Since a large percentage of first time home buyers use FHA loans, some home buyers may want...Continue Reading!

What you MUST know about short sales on FHA loans

Colorado Springs Vintage Homes Blog Colorado Short Sale Series - Part VII Interested in selling your house as a short-sale?  Email Kathy Torline  [email protected] or call 719-287-1049 Every short sale listing is different, mainly because each lender has their own way of handling things and their own set of rules regarding short sales.    But in addition to different rules with each lender, there are also special requirements for FHA loans.   The Dept of HUD published Mortgagee Letter 2008-43 on December 24, 2008, which details the new procedures for the...Continue Reading!