Archive for June, 2007

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Raising the Loan limit, who could imagine?

Monday, June 11th, 2007

The FHA is seeking to raise its current loan limits to be competitive with other mortgage purchasers including Fannie Mae and Freddie Mac. In high cost areas the FHA is looking to raise the limit to 100% of the loan limits offered by the other two and in low cost areas to increase the [...]

New Face for the HUD

Thursday, June 7th, 2007

New face for the HUD is sought in bringing about change to the housing industry. Since 1986 the total number of employees has shrunk by 1,400 and those that are left speak of lack of leadership and vision.
“Eighty percent of us came to work for HUD because of the mission. We’re not satisfied with [...]

Double-dare. Physical Challenge!

Tuesday, June 5th, 2007

Want to know what challenges face today’s home buyers? U.S. HUD Secretary Alphonso Jackson said that subprime loans, loss of confidence by consumers, and predatory lending practices are the obstacles.
“Predatory lenders have targeted home buyers – especially minorities – and successfully manipulated many of them into unwarranted, illegal, or unethical loans,” Jackson said. “HUD [...]

Homeownership Month? Who knew?

Monday, June 4th, 2007

In case you missed the memo, June is Homeownership Month. Alphonso Jackson, Secretary of the U.S. Department of Housing and Urban Development will speak at a press conference today to kick off the month. Secretary Jackson plans to address the need to educate consumers on the home buying process, helping out those that [...]

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