June 30, 2022

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 […]

States Move To Protect Seniors Considering A Reverse Mortgage With Face-To-Face Interviews

The nonstop ads on cable television make it sound like reverse mortgages are the magical solution to every financial problem faced by the elderly.  Reverse mortgages are, in fact, the most complex mortgage product out there.  Most seniors probably don’t fully comprehend what they are getting into with a reverse mortgage unless they possess a […]

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 […]

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 […]

Different Types of FHA Adjustable Rate Mortgages Offer Choices For Borrowers

An FHA adjustable rate mortgage (ARM) can offer borrowers the  benefit of a lower rate compared to a standard fixed rate mortgage.  The lower rates on FHA ARM mortgages, however, do present the borrower with the risk that the interest rate may rise when the ARM mortgage rate adjusts. There are circumstances under which the […]