FHA Zero Down Payment Financing Returns
Home buyers can once again purchase a home using FHA financing with a zero down payment. Previous zero down payment FHA loan programs were funded by seller contributions funneled through a nonprofit group which then donated the down [...]
Latest Government Scheme For Growth – The Invisible Tax Cut
Pulling forward future demand to stimulate economic growth didn’t work with the cash for clunkers program or housing tax credits. Car and home sales collapsed after consumers who were going to buy cars or houses anyways bought today instead [...]
Borrowers Chose Strategic Default On Reverse Mortgages
When reverse mortgages were last reviewed, it was predicted that many unqualified borrowers would wind up defaulting, despite the fact that a reverse mortgage has no payment due. As originally conceived, reverse mortgages were designed to fulfill a [...]
FHA Introduces New Minimum 580 Credit Score Requirement
The FHA is introducing new guidelines on loan to value ratios and the minimum credit score required for FHA borrowers. As detailed in a Mortgagee Letter from the Department of Housing and Urban Development (HUD), the following [...]
