According to Best Rate Home Loans, borrowers in Oregon have begun buying homes once more, and are taking advantage of foreclosure and short sales to save an average of $57,000. Many borrowers who have previously been through a short sale or foreclosure are now eligible for an FHA loan, and are becoming so called ‘boomerang buyers.’
New FHA Rule Could Deny Mortgage Backing to 50% of Potential Buyers
March 28, 2012 by
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.
