Not Even HUD was Ready for Their Own Changes
Since the first of the year there has been a scramble to make sure the new regulations and paperwork is rolled out and accurate at every mortgage company and bank. The fines that will be in place and enforced are stiff so these companies are doing everything they can to make sure they comply with [...]
Expect Some Big Changes for FHA in 2010
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 [...]
What is a “no cost” FHA Loan?
The closest thing to a no cost FHA loan is a streamline refinance though this is changing very soon just like so many other things in the loan and mortgage world. A streamline has been done in the past without an appraisal and credit is pulled to verify that the mortgage has been paid over [...]
The Importance of FHA Loans
After this last downturn in the housing market it’s been a very crazy time in relation to mortgages. If you doubt the need for government involvement in the loan process you may be surprised to know that nearly 90% of all the home loans in the US this year were either funded or guaranteed by [...]
Go to the Source if You Have Questions
One of the best places for anyone to go for the real answers is the official FHA (Federal Housing Administration) website; HUD.com. The only challenge is to figure out which section proteins to your question or concern. It is easier if you look to the left hand side of the page and choose the [...]