FHA Zero Down Payment Financing Returns
Home buyers can once again purchase a home using FHA financing with a zero down payment. Previous zero down payment FHA loan programs were funded by seller contributions funneled through a nonprofit group which then donated the down [...]
Borrowers Chose Strategic Default On Reverse Mortgages
When reverse mortgages were last reviewed, it was predicted that many unqualified borrowers would wind up defaulting, despite the fact that a reverse mortgage has no payment due. As originally conceived, reverse mortgages were designed to fulfill a [...]
Wells Fargo’s New Zero Down Payment Mortgage Program
Risk Of No Down Payment Mortgages There is longstanding and overwhelming statistical proof that zero down payment home buyers default on mortgages at a far higher rate compared to home buyers who make a down payment. This [...]
Elderly Americans Last Refinance – Reverse Mortgages
Reverse Mortgages – More Easy Lending As originally conceived, reverse mortgages were designed to fulfill a legitimate borrowing need. Reverse mortgages were developed for elderly Americans who had a mortgage free home with substantial equity and wanted [...]
FHA’s New Mortgage Program – Free Home Plus Trip To Vegas
100% Plus Financing Available The American Recovery and Reinvestment Act of 2009, passed early this year, provides up to an $8,000 tax credit for first time home buyers. The tax credit refund would be given to the [...]
FHA 203k Program – Financing Uninhabitable Homes
Good Intentions Gone Astray? The Federal Housing Administration (FHA) currently provides over one third of all mortgage financing. One unique mortgage program the FHA offers is the “Rehabilitation Loan Program (203k)”. The benefits and features of the [...]
Why Does The FHA Approve Loans That Borrowers Can’t Afford?
FHA Delinquency Rate Raises Questions The latest delinquency rates reported by the FHA are troubling and raise serious questions about the qualification process for approving FHA borrowers. The latest FHA numbers focus on the number of [...]
