Posts tagged as:

fha loan modification

FHA to Provide Early Mortgage Intervention to Struggling Homeowner

by Moe Bedard

WASHINGTON – Homeowners with FHA-insured mortgage loans who are experiencing financial hardship are now eligible for loss mitigation assistance before they fall behind on their mortgage payments. Previously, these homeowners were not eligible for such assistance until after they had missed payments.

The Helping Families Save Their Home Act of 2009 signed into law by President [...]

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Will FHA Make it Through “This” Depression?

by Moe Bedard

That hasn’t come without cost. As the FHA filled the void left by the private sector, it has assumed the risks of those loans. And now that a growing number of people have stopped paying their mortgages, the FHA has had to pay out more in claims that it forecast. The agency has just $3.6 [...]

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FHA may be setting up repeat of housing bubble, lawmakers worry

by Moe Bedard

Some lawmakers, however, worry that the FHA may be doing its job too well — enabling too many people with shaky finances to get loans, and in effect setting up a potential repeat of the housing bubble fueled in part by no-questions-asked subprime loans.

Recent numbers appear to underscore those concerns. The percentage of FHA loans [...]

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Home Loans Brokered By Nonprofits Helped Fuel The Housing Crisis

by Moe Bedard

Nehemiah, the Sacramento, Calif.-based inventor of seller-funded down payment assistance, and its closest competitor, AmeriDream of Gaithersburg, Md., together facilitated 40 percent of all such loans backed by the FHA. Over eight years, they arranged 392,000 mortgages worth $54 billion, records from the Department of Housing and Urban Development show.
While the two nonprofits earned tens [...]

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New FHA-Making Home Affordable Loan Modification Guidelines

by Moe Bedard

Press Release – HUD SECRETARY DONOVAN ANNOUNCES NEW FHA-MAKING HOME AFFORDABLE LOAN MODIFICATION GUIDELINES
New FHA guidelines projected to help thousands avoid foreclosure per year
WASHINGTON – U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced the Federal Housing Administration (FHA) has implemented changes to its loan modification program to ensure consistency with the [...]

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No Hope for These Homeowners Part 1

by Moe Bedard

De Las Mercedes, on October 20th, 2008 at 8:34 pm Said:
I am having a problem with Countrywide/Bank of America allowing me to apply for this program because I have not been delinquent.
I meet all the qualifications outlined by the Hope for Homeowners program; however, the home retention unit states that I am not [...]

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FHA, VA and Rural Mortgage Modification Information

by Moe Bedard

Homeowners who have mortgages insured or guaranteed by the Federal Housing Administration (“FHA”), Housing and Urban  Development (“HUD”), Veterans’ Administration (“VA”), or United States Department of Agriculture – Rural Development Administration (“USDA-RDA”) formerly known as the Farmers’ Home Administration (“FmHA”), are often protected by program regulations which require the lender to work out loans insured [...]

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