December 8, 2022

How Can An FHA Borrower Select A Reputable FHA Lender?

Besides worrying about whether or not the mortgage loan application will be approved, FHA borrowers also need to worry if they are dealing with a reputable FHA lender. There are serious pitfalls and consequences from dealing with a “rogue” FHA lender. A borrower applying for FHA financing needs to invest significant time and money applying […]

Regulators Warn Elderly To Be Aware Of Reverse Mortgage Scams

Unfortunately for all of us, there are numerous individuals and companies operating as financial predators against homeowners.  Even worse, many criminals operating financial scams prey upon the elderly who are least able to defend themselves against deceptive offers and high pressured sales tactics. The Federal Deposit Insurance Corporation (FDIC) has issued a warning in their […]

Streamline FHA Refinances To Become Easier To Qualify For

A borrower who currently has an FHA mortgage has a large advantage over a borrower with a non-FHA loan due to the FHA Streamline Refinance program. Although few FHA borrowers may be aware of the Streamline Refinance option, it is something that every FHA borrower should look into, especially with the recent HUD announcement of […]

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 […]

FHA Mortgage Rates And Rent To Own Ratio Are At All Time Lows

Historically speaking, there has never been a better time to purchase a home.  FHA fixed mortgage rates of about 3.75% are the lowest in history and have greatly contributed to lowering the cost of owning a home.  For example, the monthly mortgage payment on a home purchased for $150,000 with the minimum FHA down payment […]