What is a Boston condo rebound buyer?
- Rebound buyers such as former homeowners of the Downtown Boston Real Estate market who have filed for bankruptcy or been through foreclosure have lately been given the opportunity to once again become a Downtown Boston Condo or Boston Midtown condo homeowner. The FHA (Federal Housing Administration) is a source where many rebound buyers can get the chance to pursue the American dream once again.Many rebound buyers have or still think that they would never be able to buy another Downtown Boston home but with help from FHA this could most likely be a possibility. Many home buyers are thrilled by this idea as today’s real estate market include low interest rates.
FHA Boston condo rules
- Many think that the FHA originates loans but this is incorrect. The FHA guarantees mortgages made by banks and gets back insurance premiums. The FHA has nearly $1 trillion insured homes where this year a 14 percent of all mortgage origination’s in the U.S. go to this administration.Many think that its worrying that the FHA allow rebound buyers to pursue the chance of home ownership just three years after the foreclosure process is completed and on top of the iceberg with a 3.5 percent down. There are no exact numbers yet about what would be needed for the agency to stay well balanced. A possible $13 billion might me in need according to the Housing and Urban Development Department.
- On the other hand, many may think that the FHA is doing something right here. After all, isn’t the American Dream what this is all about? The chance of home ownership, no matter what has gone down in the past…giving you a second or even a third chance?
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Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
Charles River Park
Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114
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