Patrick Pennington is a local Russian River Lender specialist. We often direct our clients to Patrick to get pre-qualified for a loan before placing an offer on a home or to refinance their existing loan if they need to. Often times, when there are multiple offers on a property and the clients are not sure which offer to accept, they will accept the offer from the client that has a local lender because they feel that it is safer. Patrick has specialized in the Russian River for over twenty-four years and is an expert at finding a loan that fits you perfectly!

Guerneville Real Estate

Since the housing market has gone through some changes in the last decade that rendered many without homes or the ability to buy homes FHA has relaxed its guidelines to allow for "financial difficulty due to extenuating circumstances."

However, before we get ahead of ourselves, let me give you a bit of history on the subject! FHA stands for "Federal Housing Administration", which was formed in 1934 and later became part of the US Department of Housing and Development; known to many as HUD. FHA insures loans in US territory and the District of Colombia that are issued by FHA approved lenders. Patrick Pennington is an FHA approved lender and therefore qualified to issue FHA loans in Guerneville and the Russian River area in general. Since its integration into HUD FHA has insured over 34 million loans making it one of the world's largest insurers of mortgages!

Beginning August 15, 2013, after the market had crashed and countless people had lost their homes, jobs, and other assets FHA moved to relax its guidelines for borrowers who "experienced financial difficulty due to extenuating circumstances" with a program called Back To Work. What this means for people who want to buy a home, is that even if you have undergone a major financial crisis recently due to the market's downward spiral, you are still able to buy a home. Guerneville offers an array of different homes that are FHA approved and Millar and Company wants you to be able to get an FHA loan so that you can have a home in our Russian River Paradise!

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Right about now I bet you are asking what is an “extenuating circumstance?” is Well an extenuating circumstance as defined by FHA's Back To Work program is a pre-foreclosure sale, a short sale, a deed-in-lieu, a foreclosure, a chapter 7 or chapter 13 bankruptcy, a loan modification, or a forbearance agreement. If you have experienced any of these financial burdens in the last few years call Patrick Pennington at 707-869-5626 and let Patrick hook you up with an FHA loan that could get you a home in paradise! If you want a home in paradise call David R. Millar 707-217-1786. We also have a great Facebook page dedicated to what the style of living is here on the Russian River called Russian River Living and Real Estate. We can be found on Google+ and Twitter. I am David Millar and I am ready to find you your next home in paradise!

#Russianriverrealestate #activelife #Russianriverliving#guernevillerealestate

Information contained in this blog courtesy of http://themortgagereports.com/13372/fha-back-to-work-mortgage Copyright Full Beaker, Inc. 2014