July 4, 2022

How Student Loan Debt Can Wreck Your Chance of Buying a Home

Newly graduated students lucky enough to get a job after graduation have to overcome many hurdles on the path to home ownership including establishing a good credit score, saving for a down payment, and being able to show enough income. In addition to the standard barriers to home ownership listed above many new graduates trying […]

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 […]

FHA Lending Continues to Plunge – FHA Doing More Harm Than Good for Most Home Buyers

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 […]

Reverse Mortgages – A Visual Explanation

Reverse mortgages have been receiving a lot of bad press lately due to multiple news reports on elderly citizens with reverse mortgages being foreclosed out of their homes. This situation was noted in a post done earlier this year in which the details of the pitfalls of reverse mortgages were examined. The nonstop ads on […]

Getting FHA Mortgage Approval After Bankruptcy Is Easier Than You Think

Many potential homeowners mistakenly believe that they must wait a very long time to qualify for mortgage approval after declaring bankruptcy.  Depending on the circumstances, however, this is not the case.  Easy FHA mortgage guidelines allow some borrowers to become homeowners as soon as 12 months after a bankruptcy. The primary factors determining how soon […]