Quantcast
Learn About Homeownership:
QuestionsCompaniesPeople
Few decisions are more important than how to pay for or maintain your home. Question Big can help you stay smart and avoid mistakes.
 
Answer this question:

Please log in to submit an answer.

Best Expert Answer
Joe Wallace... Answered 301 more questions
a year ago
I reviewed HUD 4000.1 and could find no general requirement for annual hazard insurance verification, however that doesn't mean such verification is not required. State law or lender standards may require it, and the language of the HECM contract would also be very important here. If it is required in the HECM loan agreement, that would essentially be the final word. Ditto if state law or lender standards require it.
FHANewsBlog.com
Our blog is brought to you by the knowledgeable group of counselors at FHA.com
Visit our website
Best Expert
Answer
Similar Questions
84
Views
1
Answer
0
Likes
judy montoni
3 months ago
I'm applying for a reverse mortgage. When the lender calculates my rental income, do they add depreciation, mortgage insurance, taxes and insurance back into my net income?
I'm applying for a reverse mortgage. When the lender calculates my rental income, do they add depreciation, mortgage insurance, taxes and insurance back into my net income?
answer this question
118
Views
1
Answer
0
Likes
frank lewis
5 months ago
lender is requiring the balance due of Chapter 13 filing to be paid before loan approval and providing w/funds offered in mailer. Is this an FHA requirement or just the lender's policy?
lender is requiring the balance due of Chapter 13 filing to be paid before loan approval and providing w/funds offered in mailer. Is this an FHA requirement or just the lender's policy?
answer this question
154
Views
2
Answers
0
Likes
nancy laguna
9 months ago
We bought a house back in 2012 and we are planing to sell it to buy a bigger house. They told us before when we bought it that we cannot sell the house before 5 years due to the FHA loan, but i got advice today that if I pay what I owe to the FHA loan, then I can sell my house.
We bought a house back in 2012 and we are planing to sell it to buy a bigger house. They told us before when we bought it that we cannot sell the house before 5 years due to the FHA loan, but i got advice today that if I pay what I owe to the FHA... (more)
answer this question
898
Views
1
Answer
0
Likes
I had a chapter 7 discharged Sept 2012. In that bankruptcy my house was included but not foreclosed until February 2014. HUD shows the CAIVRS claim date (when Bank of America made their claim) 14 months later, April 2015. Did the seasoning period begin with the foreclosure sale, 2/2014, or the HUD CAIVRS claim date 04/2015? Lenders I have talked to say it's the HUD claim date. I appealed the claim date directly with HUD in Denver, but they declined to "suppress" the claim.
I had a chapter 7 discharged Sept 2012. In that bankruptcy my house was included but not foreclosed until February 2014. HUD shows the CAIVRS claim date (when Bank of America made their claim) 14 months later, April 2015. Did the seasoning period... (more)
answer this question
194
Views
1
Answer
0
Likes
Lanora Distasio
a year ago
If I am 67 on the mortgage and my dauger is not on the mortgage (50) but my daughter is on the deed, can I do a reverse mortgage?
I am currently behind on my mortgage.
If I am 67 on the mortgage and my dauger is not on the mortgage (50) but my daughter is on the deed, can I do a reverse mortgage?
I am currently behind on my mortgage.
answer this question
Ask a Question
 


Choose up to 5 tags (e.g. FHA loan). We'll recommend some, but you can change them if you want.
Thank you!
Please check the email address you registered with for your account confirmation. Then click the activation link to get started.
Question Big is a community of consumers and professionals sharing experiences, knowledge and advice.
Report Content
I'm reporting this because I think it is:
Report User
I'm reporting this user because I think the user is:
Report Company
I'm reporting this company because I think the company is:
Thank you!
Our team will review the content you reported and will take appropriate actions. We appreciate your contribution to the Question Big community.