FHA Mortgage https://fhamortgagemag.com FHA Mortgage Rules, Requirements, and Interest Rates Tue, 01 Dec 2015 05:38:30 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 How Many Years Will I Pay FHA Mortgage Insurance? The Answer May Surprise You https://fhamortgagemag.com/2015/12/how-many-years-will-i-pay-fha-mortgage-insurance-the-answer-may-surprise-you/ https://fhamortgagemag.com/2015/12/how-many-years-will-i-pay-fha-mortgage-insurance-the-answer-may-surprise-you/#respond Tue, 01 Dec 2015 05:37:54 +0000 http://fhamortgagemag.com/?p=563 Since being created by Congress in 1934 the Federal Housing Administration (FHA) has insured over 34 million mortgages on single family homes.  The low down payment requirement and relaxed credit standards of the FHA have allowed millions of people to achieve the dream of home ownership. While the advantages of an FHA mortgage are compelling […]

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]]> https://fhamortgagemag.com/2015/12/how-many-years-will-i-pay-fha-mortgage-insurance-the-answer-may-surprise-you/feed/ 0 How Student Loan Debt Can Wreck Your Chance of Buying a Home https://fhamortgagemag.com/2015/11/how-student-loan-debt-can-wreck-your-chance-of-buying-a-home/ Fri, 13 Nov 2015 18:46:01 +0000 http://fhamortgagemag.com/?p=553 Newly graduated students lucky enough to get a job after graduation have to overcome many hurdles on the path to home ownership including establishing a good credit score, saving for a down payment, and being able to show enough income. In addition to the standard barriers to home ownership listed above many new graduates trying […]

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]]> FHA Eases Guidelines on Condo Loans https://fhamortgagemag.com/2015/11/fha-eases-guidelines-on-condo-loans/ Fri, 13 Nov 2015 17:34:11 +0000 http://fhamortgagemag.com/?p=547 Many potential buyers and mortgage lenders have long complained about what they consider to be tight restrictions on condo related FHA mortgage financing. In an attempt to expand financing options for borrowers purchasing condos the Federal Housing Administration announced changes that make it easier to obtain FHA financing for condos. The new guidelines, as detailed […]

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]]> FHA Lending Continues to Plunge – FHA Doing More Harm Than Good for Most Home Buyers https://fhamortgagemag.com/2014/04/fha-lending-continues-to-plunge-fha-doing-more-harm-than-good-for-most-home-buyers/ Tue, 29 Apr 2014 05:00:05 +0000 http://fhamortgagemag.com/?p=538 The number of FHA originations continues to spiral downward according to the latest FHA Production Report from the Department of Housing and Urban Development (HUD). Total applications received for FHA mortgages declined to 71,011 in January 2014 down by almost 49% from the previous year’s comparable month.  The large majority of FHA loans are for […]

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]]> Pitfalls of FHA Reverse Mortgages – Lenders Get More Time to Foreclose as Shill Fred Thompson Pushes Reverse Mortgages https://fhamortgagemag.com/2014/04/pitfalls-of-fha-reverse-mortgages-lenders-get-more-time-to-foreclose-as-shill-fred-thompson-pushes-reverse-mortgages/ Wed, 23 Apr 2014 05:19:00 +0000 http://fhamortgagemag.com/?p=527 When a borrower defaults on an FHA insured reverse mortgage the mortgagee bank that made the loan has to follow strict Department of Housing and Urban Development (HUD) guidelines to ensure that losses will be covered by FHA insurance.   When an FHA borrower defaults on a loan, HUD requires that mortgagees (lenders) follow a foreclosure […]

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]]> FHA Offers Disaster Relief For Storm Sandy Victims https://fhamortgagemag.com/2012/11/fha-offers-disaster-relief-for-storm-sandy-victims/ Fri, 02 Nov 2012 09:52:25 +0000 http://fhamortgagemag.com/?p=523 HUD Secretary Shaun Donovan announced federal disaster assistance to victims of Storm Sandy.  “Families who may have been forced from their homes need to know that help is available to begin the rebuilding process,” said Donovan. “Whether it’s foreclosure relief for families with FHA-insured loans or helping these counties to recover, HUD stands ready to […]

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]]> Reverse Mortgages – A Visual Explanation https://fhamortgagemag.com/2012/10/reverse-mortgages-a-visual-explanation/ Mon, 29 Oct 2012 07:52:07 +0000 http://fhamortgagemag.com/?p=515 Reverse mortgages have been receiving a lot of bad press lately due to multiple news reports on elderly citizens with reverse mortgages being foreclosed out of their homes. This situation was noted in a post done earlier this year in which the details of the pitfalls of reverse mortgages were examined. The nonstop ads on […]

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]]> Four Tips On How To Avoid FHA Foreclosure Rescue Scams https://fhamortgagemag.com/2012/08/four-tips-on-how-to-avoid-fha-foreclosure-rescue-scams/ Wed, 15 Aug 2012 23:26:50 +0000 http://fhamortgagemag.com/?p=509 Borrowers with FHA loans have the highest delinquency and default rates.  Many analysts blame extremely liberal FHA underwriting policies, very low down payment requirements and seller concessions.  Other factors that contribute to a default rate of almost 10% on FHA mortgages are slow income growth, high unemployment and declining home values. Regardless of the causes […]

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]]> States Move To Protect Seniors Considering A Reverse Mortgage With Face-To-Face Interviews https://fhamortgagemag.com/2012/08/states-move-to-protect-seniors-considering-a-reverse-mortgage-with-face-to-face-interviews/ Wed, 15 Aug 2012 19:11:37 +0000 http://fhamortgagemag.com/?p=503 The nonstop ads on cable television make it sound like reverse mortgages are the magical solution to every financial problem faced by the elderly.  Reverse mortgages are, in fact, the most complex mortgage product out there.  Most seniors probably don’t fully comprehend what they are getting into with a reverse mortgage unless they possess a […]

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]]> How Much Money Can I Get From A Reverse Mortgage? A Step By Step Procedure https://fhamortgagemag.com/2012/07/how-much-money-can-i-get-from-a-reverse-mortgage-a-step-by-step-procedure/ Wed, 01 Aug 2012 03:42:11 +0000 http://fhamortgagemag.com/?p=496 We have previously discussed the merits and potential drawbacks of the reverse mortgage program.  The reverse mortgage is officially known as the Home Equity Conversion Mortgage or HECM.  A reverse mortgage is obtained through the FHA and is a relatively small part of their lending business.  While the FHA will receive almost two million routine […]

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