Comments on: Foreclosure Prevention Key is in the FHA

By: Loan Modification Processing

Loan Modification Processing — Thu, 19 Aug 2010 14:28:16 +0000

Thanks for sharing your post with us.

By: Your Foreclosure . Info » Foreclosure Prevention Key is in the FHA

Your Foreclosure . Info » Foreclosure Prevention Key is in the FHA — Fri, 12 Oct 2007 16:02:35 +0000

[...] unknown wrote an interesting post today onHere’s a quick excerptAn 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 … [...]

By: Down Payment Assistance May Go — Mortgage Loan Place Blog

Down Payment Assistance May Go — Mortgage Loan Place Blog — Mon, 14 May 2007 15:10:47 +0000

[...] The foreclosure rate on all FHA mortgage loans is around 3%. For buyers who use gift funds for their down payment the foreclosure rate is approximately 6.5%. Both of these foreclosure rates are considerably smaller than other sub-prime mortgage loans serving low to moderate income buyers. [...]

By: Joyce Cauthen

Joyce Cauthen — Mon, 16 Apr 2007 16:16:13 +0000

I am against the refinancing of the delinquent loans. Keep it simple, basic and back in the hands of those that were responsible in the first place. There are pros and cons to all of the alternatives available to us. It seems it would be better if we simply added the defaulted amount of principal and interest only, the note holder absorbs the servicing cost of inspections, attorney fees, etc. and extend the term of the current loan for their part in not properly approving the purchase of the loan. or the underwriting of same and/or offering the program in the first place to those who do not qualify. A profile of the homeowner is placed in the file, current rate is modified and fixed and the loan terms extended resulting in a reasonably lower payment and/or some other reasonble alternative. This may cause a negative am effectwhich was based on appreciation of the value to keep the values in line. We can play that game now, because basically, in effect, that appears to be what is happening to a degree. At least now, we will have a few years and those properties would then increase in value and would no longer distort the LTV’S WHICH OF COURSE THEY WILL BE WITH THIS INITIAL CONCEPT. 5% per year appreciation is good because insurance uses l0% for underwriting the homeowners insurance. In the mean time, If the borrower had a ligitimate reason for his default, he qualifies. If not, it’s over. This would at least freeze the number of homes landing in the market place as a result of foreclosure and it would hurry up if you will the appreciation process. Whoever the note holders are at this time, if they cannot have the loan repurchased, they are stuck – so they should be ready to deal – Fairway Mortgage Advisory Council in Houston -