External locus of control. The person who has external locus of control is the opposite of the one who has internal locus of control. That person believes that the whole world is plotting against him, that luck exists and that life is unfair.
FHA loan rules do not permit the re-use of an appraisal once the loan has closed. According to FHA.gov, âFor example, an appraisal used for the purchase of a property cannot be used again for a subsequent refinance, even if the appraisal is within the 120 day validity period. A new appraisal is required for each refinance transaction requiring an appraisal.â.
If the FHA loan is originated at an amount equal to or less than 90 LTV, the mortgage insurance must remain for 11 years. FHA also will scrutinize credit scores and debt ratios. As of Apri11, 2013, HUD will require a âmanualâ underwriter review if the credit score is less than 620.