The number of FHA originations continues to spiral downward according to the latest FHA Production Report from the Department of Housing and Urban Development (HUD). Total applications received for FHA mortgages declined to 71,011 in January 2014 down by almost 49% from the previous year’s comparable month. The large majority of FHA loans are for […]
FHA Lending Continues to Plunge – FHA Doing More Harm Than Good for Most Home Buyers
April 29, 2014 Filed Under: FHA Foreclosure Help, FHA loan, FHA mortgage, Mortgage Default
The First Step When Facing FHA Mortgage Foreclosure Is To Find Out What Your Options Are
June 7, 2012 Filed Under: FHA loan, FHA mortgage, Mortgage Default
Not since the Great Depression have so many American homeowners faced hard economic times. High unemployment, a very slow economy and lack of income growth have resulted in millions of homeowners facing foreclosure. The crash in real estate values since 2008 has resulted in negative equity for millions of FHA borrowers which makes refinancing or […]
How Can An FHA Borrower Select A Reputable FHA Lender?
February 27, 2012 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage, Mortgage Default
Besides worrying about whether or not the mortgage loan application will be approved, FHA borrowers also need to worry if they are dealing with a reputable FHA lender. There are serious pitfalls and consequences from dealing with a “rogue” FHA lender. A borrower applying for FHA financing needs to invest significant time and money applying […]
FHA Lists 50 Counties With Highest Default Rates
February 16, 2012 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage, HUD foreclosed homes, Mortgage Default
The rates of defaults and delinquencies on FHA mortgage loans continues to surge. The latest Monthly Report to the FHA Commissioner on FHA Business Activity reveals that almost 1 out of every 10 FHA mortgages is now classified as “seriously delinquent”. A seriously delinquent loan is defined as being 90 days or more past due, […]
FHA Wins $1 Billion From Bank of America For Claims Related To Mortgage Fraud
February 10, 2012 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage, Mortgage Default
The Department of Housing and Urban Development (HUD) announced a $1 billion dollar settlement relating to mortgage fraud by Bank of America against the Federal Housing Administration (FHA). HUD, which had been investigating lending practices at Bank of America since 2009 said that Bank of America knowingly made FHA loans to unqualified home buyers. HUD […]