July 22, 2024

Becoming A Homeowner Is A Difficult Goal For Many Americans

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 […]

Do FHA Low Down Payment Loans Make Financial Sense?

Home ownership rightfully remains the goal of many Americans and a plethora of government loan programs run by agencies such as the  FHA, VA and USDA all provide mortgage programs with little or no down payment requirements. Before buying that dream home, however, a borrower should analyze whether or not it makes financial sense to […]

FHA Mortgage Lending Plunges As Housing Values Decline

The latest report from the Federal Housing Administration shows a continued collapse in FHA loan origination. A combination of declining home values and buyer reluctance to purchase contributed to a decline in purchase applications of 30.8% for the nine months ending June 30th.  In addition, despite the currently low level of home mortgage rates, refinance […]

FHA Lending Plunges By 39% Through May As Default Rate Exceeds 8%

The recently released Single-Family Outlook from the FHA shows a steep drop in FHA applications through May 2011.  According to the FHA the estimated rate of annual applications plunged by 39% from a year ago and down 21% from April.  The FHA estimates that total applications for mortgage loans this year will be 1.3 million. […]