FHA

On Saturday, we looked at the newest effort by the Obama administration to address the threat of foreclosures from borrowers who are underwater, or who owe more than their houses are worth. If it works well, the program could deal with the risks of strategic default, from homeowners who could afford to make their payments [...]

Government-owned mortgage-finance titan Fannie Mae announced last week it would lock out borrowers from getting a new loan for seven years if they default on a mortgage they could afford to pay. The move represents the latest effort by the mortgage industry to prevent a new wave of losses that could result if more borrowers [...]

FHA Announces Policy Changes to Address Risk and Strengthen Finances New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing Market and Access for Underserved Communities WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the [...]

With the extension of the first time homebuyer tax credit and the addition of a tax credit for existing homeowners there have been changes that need to be noted. Please find compiled the most important facts associated with the new laws. You will find below a breakdown of both the $8,000 first time homebuyer tax [...]

Loan Modification, can it save my Irvine home from Foreclosure? Question: Is the mortgagor eligible for the upfront premium refund at payoff of a modified loan? Answer: It depends upon when the closing date occurred. For assets closed: After July 1, 1991 but before January 1, 2001, the 7-year unearned premium refund schedule shown in [...]