July 4, 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 […]

FHA Wins $1 Billion From Bank of America For Claims Related To Mortgage Fraud

The Department of Housing and Urban Development (HUD) announced a $1 billion dollar settlement relating to mortgage fraud by Bank of America against the Federal Housing Administration (FHA). HUD, which had been investigating lending practices at Bank of America since 2009 said that Bank of America knowingly made FHA loans to unqualified home buyers.  HUD […]

Warning To FHA Borrowers – Avoid Fraudulent Forensic Loan Audits, Loan Mods And Foreclosure Scams

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 […]

FHA Loan Losses May Trigger Taxpayer Bailout and Higher FHA Insurance Premiums For Borrowers

Due to increased loan losses on FHA insured mortgages, borrowers may soon be facing an increase in FHA insurance premiums. In testimony before Congress, Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development (HUD), stated that due to an almost total depletion of the FHA Mortgage Insurance Fund, it may become necessary […]