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Potential home buyers looking for FHA loans are soon going to have to make larger down payments and will need to have a higher credit score under changes announced today by HUD Secretary Shaun Donovan. I have blogging about this for a VERY long time, as the writing has been on the wall from late 2008. [...] Well the results of the fha audit are in and they’re NOT good. A while back I wrote a blog regarding the dire matter at hand explaining how FHA works and what to expect in the near future. Well, after the audit, FHA’s current Capital Reserve came back at 0.53% when in fact they are SUPPOSED to [...] I hate to tell everyone I told them so, but I posted a blog similar to this GREAT article a while back. I cannot stress to you enough how important it is to work with an FHA Lender in Texas that UNDERSTANDS and foresees these types of things! Read on. Addressing Continued Concerns About the FHA by [...] by Erin Peterson provided by Grade yours on a 10-point scale. Nobody’s perfect. When it comes to our financial lives, we’ve all done things we later regretted — whether it’s getting slapped with a $3 fee for using an out-of-network ATM or going on a Las Vegas bender and losing the house on an [...] by Phoebe Chongchua The first-time homebuyer Federal tax credit for $8000, record-low interest rates, and nationwide median home prices dropping to the lowest point in five years, makes this an enticing time to consider buying a home. By the way, that tax incentive isn’t truly just for first-time buyers — it’s defined as those not having [...] October 9, 2009 Mortgagee Letter 2009-39 TO: ALL APPROVED MORTGAGEES ATTENTION: Single Family Servicing Managers SUBJECT: Updated Claim Filing and Delinquency/Default Reporting Requirements For FHA’s Making Home Affordable Modification Program (FHA-HAMP) The purpose of this Mortgagee Letter is to provide updated claim filing and delinquency/default reporting requirements for the FHA Home Affordable Modification Program [...] When will YOUR housing market recover? Pundits love to make predictions as to when home prices will stabilize in U.S. housing markets. But even well-respected forecasters and analysts may disagree, and even if a forecast proves true nationally, your local market may behave in a wildly different way. This disconnect between broad-stroke forecasts and [...] A neat Q & A that I came across today… By Steve Bucci Dear Debt Adviser, In a previous post of mine, I outlined a problem that FHA has been currently dealing with, and today, on the front page of Yahoo, I found an article from the New York Times that gives a nice little update. I wanted to repost it so please take a moment to read this, as its VERY [...] If you are vacating a residence that will remain occupied by the co-borrower, he/she is required to obtain a NEW FHA mortgage loan. Acceptable situations are: 1.) Instances of divorce, after which the vacating spouse will buy a new home, or - |
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