Mortgage defaults are at an all time high as property values plunge, incomes drop, unemployment rises and the average consumer is squeezed by the exploding cost of daily necessities. The housing situation is at a critical stage and not likely to improve any time soon. Here are some highlights from a recent report by the […]
A Rational Reason To Default On Your FHA Mortgage
January 12, 2012 Filed Under: FHA Foreclosure Help, FHA loan, Mortgage Default
Why FHA Borrowers With FICO Scores Below 620 Can’t Get Approved
January 12, 2012 Filed Under: Benefits of FHA Mortgage, FHA Eligibility Requirements, FHA loan, FHA Minimum Credit Scores, FHA mortgage, FHA Mortgage Basics
FHA mortgage programs are the most lenient in the industry and borrowers with low credit scores have frequently had no other options except FHA financing. Current FHA guidelines state that borrowers with credit scores above 580 are qualified for FHA financing with only a 3.5% down payment. The reality, however, is quite different as very […]
Warning To FHA Borrowers – Avoid Fraudulent Forensic Loan Audits, Loan Mods And Foreclosure Scams
January 6, 2012 Filed Under: FHA Foreclosure Help, FHA loan, FHA mortgage
Falling behind on FHA mortgage payments has resulted in a nightmare scenario for many homeowners. The economic mess that our country has fallen into since the housing bubble burst in 2006 has produced the double disaster of unprecedented unemployment along with collapsing home values. Unfortunately, many delinquent FHA borrowers have had their financial misery compounded […]
Millions Of FHA Borrowers Have Negative Home Equity Which Often Results In Defaults
January 5, 2012 Filed Under: FHA loan, FHA mortgage, FHA property
Few things are more psychologically and financially damaging than the realization that you owe more on your home than it is worth. The real estate industry has forever advised potential buyers that you “can’t go wrong owing a home since prices always go up” – a myth that exploded as the housing bubble started to […]
FHA Extends Waiver On Property Flipping To Stabilize Housing Market
December 28, 2011 Filed Under: Benefits of FHA Mortgage, FHA Anti-Flipping Reg, FHA Eligibility Requirements, FHA mortgage, FHA property
To protect purchasers from the predatory practice of “property flipping”, the FHA refuses to insure a mortgage on a home that was owned by the seller for less than 90 days. The practice of quickly reselling (flipping) properties often resulted in unsuspecting buyers paying inflated prices, according to the FHA. In an effort to stabilize […]