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 […]
Four Tips On How To Avoid FHA Foreclosure Rescue Scams
August 15, 2012 Filed Under: FHA Foreclosure Help, FHA loan, FHA mortgage
Loan Modification Fraud Generates 20,000 Consumer Complaints
January 12, 2012 Filed Under: FHA loan
An organization devoted to preventing fraudulent loan modifications reports that consumers have filed 20,000 complaints against loan modification businesses since March 2010. Homeowners who have fallen behind on mortgage payments and want to avoid losing their homes in foreclosure are being preyed upon by remorseless business operators who take large upfront payments. Later on, the […]
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 […]