Russian River Lending Specialist Patrick Pennington
When it comes to getting a home loan on the Russian River there are three big things that can stand in your way! Those three things include a foreclosure, a short sale or a bankruptcy. Fannie Mae is a common term used to refer to FHA loans. 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!
Patrick Pennington is our local preferred lender here in Russian River Real Estate because he has been lending here on the Russian River for over Twenty four years and he knows the ins and outs of the market in Guerneville. Patrick is the type of guy that gets the job done. If there is a loan that you will qualify for here on the Russian River Patrick will find it!
It used to be that when you had experienced a short sale on a home you would have to wait two years before you could qualify for a conventional home loan again. "However, on August 16, 2014, the waiting period for a homeowner to purchase a new home after a foreclosure becomes four years." That means that if you have had a short sale and it has been two years now is the perfect time to contact Patrick Pennington about getting a loan before they put into effect the new four-year standard.
Russian River homes for sale are in short supply right now! It is summertime and people are out buying homes in Guerneville for their summer vacation. If you have been thinking about buying a home in Guerneville or on the Russian River act soon because inventory is going fast!
If you have experienced a recent short sale and were waiting the two years to qualify act now and 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 before the time frame changes and you have to wait another two years!
All About Russian River Real Estate In Guerneville
The town of Guerneville is known for how it binds together in a judgment-free way to create a safe and accepting place for people to come. Many people will buy a Vacation Rental and visit during the summer and rent it out the rest of the year to other vacationers! Some invest in Russian River Real Estate in order to live here year round and are quickly accepted into the community.
Information in this blog courtesy of http://activerain.trulia.com/blogsview/4420375/fannie-mae---increasing-the-waiting-period-to-purchase-after-a-short-sale
I am David Millar and I am ready to find you a stunning Russian River Home!