FHA

FHA Mortgages and Student Loans Are a Risky Combination

FHA Mortgages and Student Loans Are a Risky Combination

First time home buyers have traditionally faced a variety of obstacles including the high cost of housing, stagnant wages, and the difficulty involved in saving for a down payment.   If that wasn’t bad enough, recent changes […]

FHA Zero Down Payment Financing Returns

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 […]

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 […]

High Risk Mortgage Lending Still Being Promoted By GSEs

Sufficient Income Key To Sound Home Ownership In an effort to prevent delinquent home owners from losing their homes to foreclosure, the Department of the Treasury recently issued guidelines to lenders.  Under the Making Home Affordable mortgage […]

Elderly Americans Last Refinance – Reverse Mortgages

Elderly Americans Last Refinance - Reverse Mortgages

Reverse Mortgages – More Easy Lending As originally conceived, reverse mortgages were designed to fulfill a legitimate borrowing need.  Reverse mortgages were developed for elderly Americans who had a mortgage free home with substantial equity and wanted […]

Mortgage Mod And Foreclosure Scams: Saying Goodbye To The Mortgage May Be Better

Mortgage Mod And Foreclosure Scams: Saying Goodbye To The Mortgage May Be Better

FDIC Advice Good But Too Late The FDIC Consumer News is warning homeowners to avoid falling prey to loan modification and foreclosure rescue scams.  Many financially distressed homeowners are  preyed upon by firms that “guarantee” financial salvation, […]

FHA’s New Mortgage Program – Free Home Plus Trip To Vegas

100% Plus Financing Available The American Recovery and Reinvestment Act of 2009, passed early this year, provides up to an $8,000 tax credit for first time home buyers.   The tax credit refund would be given to the […]

FHA 203k Program – Financing Uninhabitable Homes

FHA  203k Program - Financing Uninhabitable Homes

Good Intentions Gone Astray? The Federal Housing Administration (FHA) currently provides over one third of all mortgage financing.  One unique mortgage program the FHA offers is the “Rehabilitation Loan Program (203k)”. The benefits and features of the […]

Why Does The FHA Approve Loans That Borrowers Can’t Afford?

Why Does The FHA Approve Loans That Borrowers Can't Afford?

FHA Delinquency Rate Raises Questions The latest delinquency rates reported by the FHA are troubling and raise serious questions about the qualification process for approving FHA  borrowers.   The latest FHA numbers focus on the number of […]