Federal Housing Administration mortgages are about to get cheaper



Homebuyers seeking Federal Housing Administration insured mortgages will soon be able to take advantage of reduced costs.

Obama announces cheaper FHA mortgage insurance premiums



President Barack Obama said in a speech Thursday that mortgages need to be more accessible and affordable to creditworthy families to spur a stronger housing market.

FHA Set To Raise Premiums on Mortgages



The Federal Housing Administration has just announced plans to raise premiums on most new mortgages by 10 basis points (0.1%), meaning that the average borrower can expect a $13 increase on their monthly repayments, according to reports.

4 Ideas For Saving Thousands Of Dollars On Your Mortgage Payment



If you are a typical home buyer, paying less than 20% down, there is about a 90% chance that you’ll use an FHA, VA or USDA loan to finance the purchase of your first home. If you do choose one of these “government insured” loans, you’ll be subject to high fees and interest costs that will amount to more than the entire price of your home.

AEI Study Shows How FHA Financing Is Destroying Thousands Of Neighborhoods



According to American Enterprise Institute Fellow, Edward Pinto, the FHA mortgage insurance program is helping to destroy the neighborhoods that FHA is most heavily involved in. A detailed study of FHA lending practices and default rates shows that lower income borrowers and home owners with FHA loans are much more likely to default on their loans.

FHA Delinquencies Surge To Record Levels In 3rd Quarter 2012



For the first 20 years of it’s existence the Federal Housing Administration, created in 1934, enjoyed a delinquency rate of 0.2%. As of September 2012, the delinquency rate has surged to a record 17.3%. Compare that to less than 2% for privately insured mortgage company, MGIC.

New FHA Rule Could Deny Mortgage Backing to 50% of Potential Buyers



Experts say that a new ruling by the Federal Housing Administration is likely to rule out thousands of potential buyers from securing a government-backed mortgage when it comes into force next Monday.

Federal Regulators Plan to Overhaul Mortgage Refinance Program



Plans have just been revealed for federal regulators to overhaul a mortgage refinance program, and the White House hopes this will help to revitalize the housing market. This latest overhaul would allow homeowners to refinance their mortgages regardless of whether or not they are “underwater,” making this extremely significant for those homeowners in states where […]

Obama May Reveal Mortgage Refinancing Plan Next Week



The Obama Administration is rumored to be about to reveal a new program for mortgage relief next week, in order to decrease foreclosure numbers and help homeowners stay in their homes, reports Reuters. Details of the new proposal remain a closely guarded secret, but the speculation is that President Obama is set to unveil a […]

Obama Administration Tries To Help Unemployed Homeowners



The Obama administration has just announced a new program which is aimed at keeping unemployed homeowners in their own homes.   This new initiative will extend the current allowance of a few months forbearance on mortgages to twelve months. It’s thought that this new scheme could benefit thousands of homeowners, although not everyone will be […]

Sign up Now and get our guide on Facebook for Real Estate Professionals for Free

Sign up to the Realty Biz News mailing list to get updates from our site and also get our guide to Facebook marketing for Real Estate professionals for free