The Obama Administration has announced their newest plan to slow the pace of foreclosures and help borrowers who can no longer afford their homes. The plan calls for $2 billion to be directed to the Administration’s list of the “hardest hit areas”; while HUD is going to chip in another $1 billion to “other areas”. [...]
Government Offering Interest-Free Loans to Save Your Home…Sorry, Texas you’re not approved.
August 12, 2010 By Leave a Comment
FHA pumps up the commission for brokers
January 3, 2010 By Leave a Comment
The US Department of Housing and Urban Development (HUD) removed the 1% origination fee cap on loans insured by the Federal Housing Agency (FHA), according a mortgagee letter sent out this week. HUD made the change to remain consistent with the Real Estate Settlement Procedures Act (RESPA), which will require mortgage lenders to disclose to borrowers [...]
FHA loans are available to Short Sellers!
December 22, 2009 By 3 Comments
One of the fears that homeowner have is whether they will be able to secure a new loan to purchase a home in the future after short selling the current one. The answer is yes. In fact, the Department of Housing and Urban Development (HUD) released a letter to lenders regarding borrower eligibility for a [...]
