Fha-loans Articles

Posted on April 23   By MLP Lending Guide
The general consensus among most people is that FHA mortgages and conventional mortgages do not differ all that much. After all, the borrower still must go through most of the same application and approval processes, and the terms (length of loan and interest rate) usually don't differ much from the conventional marketplace. Of course, FHA loans (especially lately) are being highly touted as the best alternative in the near future for first time homebuyers and low to middle-income families alik.... Read More...
Posted on April 19   By MLP Lending Guide
Exciting news in the world of FHA lending today as a hearing is being at the House Financial Services Committee to discuss the Expanding Homeownership Act of 2007. This of course comes in the wake of the recent subprime fallout and grim forecasts for foreclosures across the country, and is a caveat of the bill that passed through the House last year that was designed to "modernize" the FHA lending program. The amended 2007 version of the Act includes language that would raise the limits on FHA .... Read More...
Posted on April 18   By MLP Lending Guide
If you ever find yourself in foreclosure, there are a few smart moves you can make in order to avoid the process. First of all, you should set up a meeting or phone call with the lender and take a mortgage expert along if at all possible. Make sure that their foreclose is legitimate and contact the appropriate state and local offices to verify their claims. Assuming everything about the foreclosure process is legitimate, you should next consider a deed in lieu of foreclosure. This deed instrume.... Read More...
Posted on April 17   By MLP Lending Guide
FHA Connection is something we have never talked about here on Mortgage Loan Place, but it is a system that plays a vital role in helping lenders (and subsequently homeowners) get their FHA loans more expediently processed through the HUD. Essentially, FHA Connection is a web-based system that allows FHA-approved lenders to have direct access to all the documents, forms, and submissions required to secure FHA insured financing on a home loan. We took some time to look extensively through everyt.... Read More...
Posted on April 16   By MLP Lending Guide
An insightful article from RealtyTimes.com today on alternative ideas currently being ran through Congress regarding the problems the housing market faces with foreclosures. As many are aware, homeowners across the country are in danger of being foreclosed on their mortgage by the thousands. While the FHA has always been considered a top program to help alleviate the burdens of the marketplace after the subprime fallout, the article goes into more detail about proposed solutions. "In the Lyons M.... Read More...
Posted on April 12   By MLP Lending Guide
When it comes to FHA loans, prospective home buyers don't have to limit their options to just sparkling new places. You can use an FHA loan to make repairs on that fixer-upper you've had an eye on. With a Federal Housing Authority loan, home buyers can simply factor in the cost of the renovations and repairs into the overall loan. The FHA's Section 203(k) program was created to handle these "fixer-upper" situations. Just remember that the amount of the loan needs to be pinned down before const.... Read More...
Posted on April 10   By MLP Lending Guide
The Federal Housing Administration provides assistance to people who intend to purchase a new home, renovate a house, and those who wish to make their current home more energy efficient. The FHA provides a form of insurance to the lenders, which increases the likelihood of which you can obtain a loan or mortgage, even if you have no credit, or poor credit. The FHA is government created and backed, and their sole purpose is to house more Americans in more houses. When mortgaging a house, the FHA.... Read More...
Posted on April 06   By MLP Lending Guide
A year after its defeat in the Senate, a bill that would reform the Federal Housing Administration was reintroduced late last month in the U.S. House of Representatives. The Expanding the American Homeownership Act would ease down payment requirements and increase loan limits for would-be home buyers. The same measure passed the House last summer but fell to defeat in the Senate. Undeterred, U.S. Rep. Judy Biggert, R-Ill., introduced the bill March 29. "Foreclosures in the sub-prime mark.... Read More...
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