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% […]
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
FHA Tightens Guidelines On Broken Reverse Mortgage Program, Major Lenders Exit The Business
January 31, 2012 Filed Under: Benefits of FHA Mortgage, FHA HECM, FHA Home Equity Conversion Mortgage, FHA loan, FHA reverse mortgage, Mortgage Default
Reverse mortgages, which have been available to elderly borrowers for over two decades, will become more difficult to obtain in the future. Major reverse mortgage lenders have abandoned the product and the FHA has indicated that they will tighten underwriting guidelines due to the large number of reverse mortgage defaults. Last year, two of the […]
A Rational Reason To Default On Your FHA Mortgage
January 12, 2012 Filed Under: FHA Foreclosure Help, FHA loan, Mortgage Default
Mortgage defaults are at an all time high as property values plunge, incomes drop, unemployment rises and the average consumer is squeezed by the exploding cost of daily necessities. The housing situation is at a critical stage and not likely to improve any time soon. Here are some highlights from a recent report by the […]