• Compass DRE# 01991628
  • Address: 2120 Colorado Blvd., Suite #1, Eagle Rock, CA 90041
  • Office Phone: 323-274-2148

Tracy King Blog - Eagle Rock Real Estate - Northeast Los Angeles Realtor

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LA Digs - Northeast LA Real Estate Blog

Welcome to LA Digs, the real estate and Northeast Los Angeles community blog written by Realtors Tracy King and Keely Myres.

Here, we share tips, market updates, and local news bits to keep you informed on what's happening in Northeast Los Angeles and the surrounding neighborhoods. Read on to learn about the latest in your neighborhood!

Important Changes from the FHA

From Linda Wilkes, Ambassador Capital Mortgage:
FHA Annual Mortgage Insurance Premium to Increase If your clients are still on the fence about buying a home, you should let them know that the Federal Housing Administration (FHA) is increasing mortgage insurance premiums on FHA home loans as of April 18, 2011. This deadline applies to the FHA case assignment date. This increase could cost your buyers more money each month for their total monthly mortgage payment. What can your buyers do? If they are close to contract, advise them to buy now before the new mortgage insurance premium takes effect. They must have an active loan application for the subject property prior to April 18, 2011. HUD Temporary Flipping Waiver Extended In an effort to expand access to FHA mortgages and allow for the rapid resale of foreclosed properties, HUD announced a temporary waiver of the 90-day flipping restriction until December 31, 2011.
The waiver is subject to certain conditions, and eligible mortgages must meet these conditions to take advantage of the waiver. The complete text of the waiver extension, including conditions the waiver is limited to, is available on the HUD website.
Call or email Linda if you want more information on FHA loans.
Linda Wilkes
Senior Loan Officer Ambassador Capital Mortgage NMLS# 23610 1499 Huntington Dr. South Pasadena, CA 91030 Office: (323) 221-5111 Fax: (866) 706-6443 This email address is being protected from spambots. You need JavaScript enabled to view it.
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Tracy King, Realtor
DRE# 01048877
Phone: 323-274-2148 | This email address is being protected from spambots. You need JavaScript enabled to view it.
COMPASS DRE# 01991628

Keely Myres, Realtor
DRE# 01834633
Phone: 323-274-2148 | This email address is being protected from spambots. You need JavaScript enabled to view it.
COMPASS DRE# 01991628

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