Reporting from Washington — Condominium owners who are trying to sell in today’s agonizingly slow housing market should make sure that their community is on the Federal Housing Administration’s approved list. Ditto for someone who is thinking about refinancing a condo. Under a little-noticed edict put in place in December, the FHA is no longer [...]
Filed under: Condos, Federal Housing Regulations, FHA loans, La Times, National Real Estate News on July 28th, 2010 | Comments Off
Reporting from Washington – Here’s a sobering message for anyone who has a federally insured reverse mortgage or plans to apply for one: If you don’t pay your local property taxes or hazard insurance premiums, you should know that the risk of losing your house to foreclosure is about to increase. Although the Federal Housing [...]
Filed under: Economic Recovery, Federal Housing Regulations, FHA loans, Lending Info, Mortgage News, Reverse Mortgages on June 30th, 2010 | Comments Off
Reporting from Washington – One of the key attractions of FHA home mortgage financing is going, going, but not quite gone. Sellers and buyers who move fast can still make the most of it. Sometime this summer, the Federal Housing Administration plans to slash maximum “seller concessions” from 6% of the home price to 3%. [...]
Filed under: FHA loans, Home Buying, Lending Info, Mortgage News, National Real Estate News on May 31st, 2010 | Comments Off
Brent T. White, a University of Arizona law school professor, says that it’s in the homeowners’ best financial interest to stiff their lenders and that it’s not immoral to do so. By Kenneth R. Harney The Los Angeles Times Reporting from Washington – Go ahead. Break the chains. Stop paying on your mortgage if you [...]
Filed under: Consumer Protection, Credit Scores, Economic Recovery, Federal Housing Regulations, FHA loans, Foreclosures and Short Sales, Housing Market Trends, Lending Info, loan modification, Market Update, Mortgage News, Refinancing on February 26th, 2010 | Comments Off
Mary Ellen Podmolik The Los Angeles Times The Federal Housing Administration will raise mortgage insurance premiums, update requirements for so-called FICO credit scores and down payments for new home buyers and take other measures designed to shore up the agency’s low capital reserves. The FHA, which insures mortgages, also will reduce allowable seller concessions to [...]
Filed under: Credit Scores, Federal Housing Regulations, FHA loans, Home Buying, Lending Info, Mortgage Insurance, Mortgage News on January 20th, 2010 | Comments Off
