June 30, 2022

List of FHA Foreclosed Homes For Sale Reveals Bargains For Homebuyers

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

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 […]

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 […]

Are Only U.S. Citizens Eligible For FHA Loans? Facts vs. Myths

During my discussions with loan applicants, there seems to be a common misperception that only U.S. citizens are eligible for FHA mortgage financing.  I can recall a long list of second hand stories from people who “heard about” illegal immigrants receiving FHA financing using forged and fraudulent documents. Although it is certainly possible that some […]