Loan defaults at the FHA continue to soar according to the latest FHA Single-Family Outlook report issued by the FHA. The latest statistics on the FHA loan portfolio show that almost 18% of all FHA insured mortgages are 30 days past due or more. The number of loans classified as seriously delinquent increased by 19% […]
Archives for February 2012
Will The FHA Need A Bailout? Congress Approves “FHA Emergency Solvency Act” As Loan Defaults Soar
February 8, 2012 Filed Under: FHA loan, FHA mortgage, HUD foreclosed homes, Mortgage Default
A First Time FHA Home Buyer Asks “How Much Home Can I Afford?”
February 8, 2012 Filed Under: Benefits of FHA Mortgage, FHA Eligibility Requirements, FHA loan, FHA mortgage
One of the first questions that a first time homebuyer seeking an FHA mortgage will ask is “How much home can I afford?”. It is widely known that banks have tightened underwriting standards in order to prevent homebuyers from purchasing a home that they cannot afford and winding up in default. Although the prospect of […]
FHA Mortgage Rates And Rent To Own Ratio Are At All Time Lows
February 1, 2012 Filed Under: Benefits of FHA Mortgage, FHA loan, FHA mortgage
Historically speaking, there has never been a better time to purchase a home. FHA fixed mortgage rates of about 3.75% are the lowest in history and have greatly contributed to lowering the cost of owning a home. For example, the monthly mortgage payment on a home purchased for $150,000 with the minimum FHA down payment […]