All FHA case numbers pulled after October 15 must include a payment for collections totaling in excess of $2,000.
We either have to take 5% of the aggregate balance for the payment, or you will have to negotiate your own payments we each account holder.
…and, really if you are thinking of buying a house with an FHA loan I would do it now.
This is because if you wait until mid October it will likely be too late. (We can’t pull a new case number without a contract and a property address)
Another quick VA tip… Did you know that I can go down to 560 on VA.? …Yep!
Rate Tip… The threat of a government shut down looms large. This tends to have a negative impact on the stock market. Look for more money to move into bonds, which will have a positive impact on mortgage rates.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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