We have previously discussed the merits and potential drawbacks of the reverse mortgage program. The reverse mortgage is officially known as the Home Equity Conversion Mortgage or HECM. A reverse mortgage is obtained through the FHA and is a relatively small part of their lending business. While the FHA will receive almost two million routine […]
Archives for July 2012
How Much Money Can I Get From A Reverse Mortgage? A Step By Step Procedure
July 31, 2012 Filed Under: Benefits of FHA Mortgage, FHA HECM, FHA Home Equity Conversion Mortgage, FHA loan, FHA mortgage, FHA Mortgage Basics, FHA reverse mortgage
List of FHA Foreclosed Homes For Sale Reveals Bargains For Homebuyers
July 20, 2012 Filed Under: Benefits of FHA Mortgage, FHA 203(k) Loan, FHA loan, FHA mortgage, FHA Mortgage Basics, FHA property, HUD foreclosed homes
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 […]
Becoming A Homeowner Is A Difficult Goal For Many Americans
July 19, 2012 Filed Under: Benefits of FHA Mortgage, FHA loan, FHA mortgage
Most Americans have traditionally viewed home ownership as part of the American dream. Owning a home was rightfully viewed as one of the bedrock principles for building long term wealth through equity appreciation. For decade after decade home values increased and by 2007, the mantra of “home values never decline” became part of the national […]
FHA Fixed Mortgage Rate Of 2.75% Possible By Year End
July 19, 2012 Filed Under: FHA loan, FHA mortgage, FHA refinance
How low can mortgage rates go? A few short years ago, borrowers who were able to refinance in the mid to low 5% range thought they would never have to refinance again. Little did anyone realize during the housing boom years that the subsequent crash in housing prices would result in mortgage rates lower than […]