June 24, 2017

FHA Eases Guidelines on Condo Loans

Many potential buyers and mortgage lenders have long complained about what they consider to be tight restrictions on condo related FHA mortgage financing. In an attempt to expand financing options for borrowers purchasing condos the Federal Housing Administration announced changes that make it easier to obtain FHA financing for condos. The new guidelines, as detailed […]

List of FHA Foreclosed Homes For Sale Reveals Bargains For Homebuyers

The FHA is swamped with foreclosed homes that they are trying to sell nationwide.  Single family homes foreclosed on by the FHA are being sold through the U.S. Department of Housing and Urban Development (HUD).  Since holding an empty house is an expensive proposition for a lender, HUD is a motivated seller.  Accordingly, many single […]

FHA Purchasers Immediately Have Negative Equity – The Buying Dilemma

Most first time home buyers who have done their homework know that there are both benefits and disadvantages associated with FHA mortgage financing. Real estate agents and the mortgage industry will typically stress the benefits of a low down payment requirement and flexible underwriting standards with FHA financing.  However, there are also disadvantages associated with […]

Streamline FHA Refinances To Become Easier To Qualify For

A borrower who currently has an FHA mortgage has a large advantage over a borrower with a non-FHA loan due to the FHA Streamline Refinance program. Although few FHA borrowers may be aware of the Streamline Refinance option, it is something that every FHA borrower should look into, especially with the recent HUD announcement of […]

Millions Of FHA Borrowers Have Negative Home Equity Which Often Results In Defaults

Few things are more psychologically and financially damaging than the realization that you owe more on your home than it is worth.  The real estate industry has forever advised potential buyers that you “can’t go wrong owing a home since prices always go up” – a myth that exploded as the housing bubble started to […]