December 8, 2022

Pitfalls of FHA Reverse Mortgages – Lenders Get More Time to Foreclose as Shill Fred Thompson Pushes Reverse Mortgages

When a borrower defaults on an FHA insured reverse mortgage the mortgagee bank that made the loan has to follow strict Department of Housing and Urban Development (HUD) guidelines to ensure that losses will be covered by FHA insurance.   When an FHA borrower defaults on a loan, HUD requires that mortgagees (lenders) follow a foreclosure […]

Four Tips On How To Avoid FHA Foreclosure Rescue Scams

Borrowers with FHA loans have the highest delinquency and default rates.  Many analysts blame extremely liberal FHA underwriting policies, very low down payment requirements and seller concessions.  Other factors that contribute to a default rate of almost 10% on FHA mortgages are slow income growth, high unemployment and declining home values. Regardless of the causes […]

The First Step When Facing FHA Mortgage Foreclosure Is To Find Out What Your Options Are

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 […]

FHA’s 75% Increase In Mortgage Insurance Premiums May Hurt Housing Sales

After the implosion of Fannie Mae and Freddie Mac in 2008, the FHA was seen as the savior of the housing industry.  Liberal underwriting guidelines combined with a low down payment requirement made FHA financing the preferred choice for many home buyers.  As a result, the FHA’s share of total mortgage lending soared to almost […]

How Can An FHA Borrower Select A Reputable FHA Lender?

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 […]