Tagged : fha 
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Explaining the FHA Mortgage
Friday, February 26th, 2010 at 11:00am. 1431 Views, 0 Comments.
Some of the benefits offered by FHA backed loans are low down payment options, reasonable costs, availability to less than perfect credit and assistance if ever there is difficulty in making the payments.
To be eligible for an FHA insured mortgage a borrower must plan to occupy the property as their principal residence, have a valid social security number, have a two year employment history, not be past due on any Federal debts and meet the flexible credit requirements.
To make the FHA backed mortgage easy to understand I find it useful to give clients a pamphlet with all the pertinent information. This informational flyer can be opened through the link…
FHA implements new rules to help foreclosures sell faster
Tuesday, January 19th, 2010 at 11:19am. 731 Views, 1 Comments.
FHA has made recent changes to their rules to help stabilize the home values and improve community distress in places where foreclosure activity is high. A temporary change of policy has been announced which will allow increased and quicker access to FHA mortgage insurance when purchasing some foreclosed properties.
Through this announcement and the $2 billion stabilization grants announced for non-profit developers and local communities announced to stem the negative effects of abandoned and vacant homes in some communities, the current administration has shown a commitment to addressing these issues.
These changes further open up the credit market to potential home buyers who often run into roadblocks obtaining conventional financing, most home…