FHA

By Bill Zielinski • July 13th, 2009

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 modification [...]

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 to [...]

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, take [...]

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 home [...]

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 203k program [...]

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 borrowers [...]

FHA Only Option For Some
The FHA loan program is the only viable option for many mortgage applicants who no longer qualify under Fannie Mae or Freddie Mac guidelines.  Most of the larger lending institutions have implemented a [...]

FHA Bailout Appears Likely
Government officials said that a taxpayer bailout of the FHA appears likely based on increased mortgage defaults.  The FHA has traditionally had higher default levels than Fannie Mae or Freddie Mac due to more [...]

Multiple Reasons For High FHA Default Rates
Massive default rates in the FHA loan program are starting to raise a few eyebrows.  Without major reform of fundamentally poor lending policies, the FHA could soon join the failed ranks [...]