Financing in Las Cruces>Question Details

Judy, Both Buyer and Seller in

We seem to meet the criteria introduced earlier this month regarding home loan...

Asked by Judy, Tue Mar 10, 2009

modification however when we consulted with a bank here in town, they told us that the new policies regarding home loan modification are currently not in effect here in New Mexico, (but are in Texas) Is this true?

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I don't know your specific's, but I can tell you that NM's govenor authorized securing your down payment with an MFA loan for first time home buyers until your tax credit comes in and then you would pay back that MFA loan OR have a second mortgage on the house. So, I would bet that there could be some minor changes per state laws but as far as the federal standards they should all be the same. I always tell my clients to check out at least 3 mortgage/banks before making your decision - because they will all give you different rates and different loans. Hope I helped!
0 votes Thank Flag Link Fri Jun 19, 2009
0 votes Thank Flag Link Tue Mar 10, 2009
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