Archive for June, 2007

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But it’s not even my birthday

Friday, June 29th, 2007

Happy Birthday, FHA! Today is the 73rd birthday of the Housing and Urban Developments program, the FHA. “FHA has given millions of families the opportunity to pursue the dream of homeownership,” said Deputy Secretary Bernardi. “Our goal is to continue our education and outreach efforts while also retooling and refining FHA to insure safer mortgages […]

Reverse industry boom

Thursday, June 28th, 2007

Reverse Mortgages are becoming increasingly popular amongst the Baby Boomer generation. The market for reverse mortgages is also projected to increase throughout time as more and more Americans are living past the age of 62 and need help with their retirement. The number of reverse mortgage users is looking to exceed last year’s record year […]

FHA wins

Wednesday, June 27th, 2007

In a stunning upset, FHA backed loans produced fewer foreclosures than subprime loans. No one could have predicted this magnificent upset as subprime loans had more than twice as many foreclosures as their FHA loan counterpart. These loans are very much the same as both recipients are first time homebuyers and possess less than stellar […]

Little guy could lose out again

Tuesday, June 26th, 2007

Lower to middle class down payment assistance could be a thing of the past. Not that the system had been around that long, 1997, to be exact. Since the first down payment assistance program started, with Nehemiah in 1997, these programs have been able to grow to over 40% of the Federal Housing Administration’s annual […]

Popular amongst the retired crowd

Thursday, June 21st, 2007

An overwhelming number of seniors are taking advantage of reverse mortgages throughout the country. 300,000 seniors are taking advantage of the opportunity to make their home work for them. By taking advantage of the Home Equity Conversion Mortgage loan program these individuals have been able to secure cash for their home without even having to […]

Homeownership month continues

Tuesday, June 19th, 2007

“Promotion and Protecting Homeownership” is this year’s theme for National Homeownership month which is taking place this month. The theme is focusing on first-time home buying as well as informing current homeowners and potential homeowners about the responsibility that comes with being a homeowner. This month’s theme will also encourage individuals to read the “fine […]

Free FHA Lending Guide

Monday, June 18th, 2007

I know that they released this information a few weeks ago but I thought I would revisit it. The Mortgage Loan Place released a free Lending Guide for those seeking information about FHA Loans. The guide is completely comprehensive and has had a lot of great feedback from the industry and consumers alike. If you […]

How much does America know about FHA reform?

Friday, June 15th, 2007

Majority of the American Public favors FHA modernization. Here are some key statistics about a study conducted on how aware the American public is about the many key changes that are sought in regards to the FHA Loan program. When it comes to being completely clueless on the act itself more Americans favor the changes […]

Ohio doing their part in rising foreclosure rates

Thursday, June 14th, 2007

Mortgage delinquency is at an all time high thanks to states in the Midwest. The first quarter numbers reveal that Midwestern states such as Indiana, Ohio, and Michigan are pushing the rate of delinquency up in the nation. As could be predicted the subprime delinquency was up while FHA and VA delinquency fell. With close […]

The Last Resort

Tuesday, June 12th, 2007

I found a really great site today on shopping for a reverse mortgage. It includes some really great tips if you are in the market for obtaining a reverse mortgage. Like any other financial undertaking a reverse mortgage should be thought out carefully before going full steam ahead. The idea of receiving money for the […]

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