Feb 5
Posted by Real Estate Home Blog in Economy, Real Estate | No Comments
The HUD says that it is currently taking a much closer look at several mortgage companies in order to find out why there have been so many problems when it comes to mortgages insured by the FHA.
There are 15 companies in total, all of which were given subpoenas recently and demanded data and documents related to loans that have failed and which have ended in claims that were paid out by the FHA’s fund of mortgage insurance.
Tags: fha, hud, Real Estate
Jan 27
Posted by Real Estate Home Blog in Economy, Loans, Real Estate | No Comments
With efforts to bring stabilization to home values and improve community conditions where there is high foreclosure activity at the same time, another temporary policy from the administration of Obama has been announced, which will give extra access to mortgage insurance of the FHA, as well as allow for fast resales on foreclosed properties.
Apparently, $2 billion will be granted to nonprofit housing developers and local communities to fight the effects that come with empty homes. Due to tight credit markets, mortgage financing that is insured by the FHA is usually the single means that exists to possible home buyers, giving the FHA an unprecedented chance to fulfill its goal by helping home buyers locate cheap housing while stabilizing the neighborhood at the same time.
Tags: home sale, hud, Real Estate
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