Expect Some Big Changes for FHA in 2010
Posted on | December 9, 2009 | No Comments
You will be wise to expect changes for FHA loans in early 2010 as congress meets and votes on some of the recommendations before it in regard to lending practices, guidelines and requirements. These will most likely affect the lenders themselves as well as buyers and sellers, which affect Realtors. So basically, everyone will be impacted by the changes.
If you were around twenty years ago you will notice that we are simply going back to a time when you had to have good credit, money to put down on a house and a good solid job in order to purchase a home. In other words, you will have to have your finances in order to own a home in the future. Though we don’t know all the specifics, we do know things continue to change. Stay tuned and I will keep you updated as they come in. In the mean time, if you are ready to buy, it is definitely a good time to do it with rates low and inventory high.
Comments
Leave a Reply