There are some big changes happening in the mortgage industry that will directly effect those that have FHA mortgages or for those who are seeking out one. The biggest change that will happen Nov 18th 2009 is that FHA streamline refinance loans will be taken away. We know, this is a huge change and it [...]
FHA loans are an outstanding choice for first time home buyers, and even first time home buyers with bad credit, because FHA loans require only 3.5% cash down (which may be a gift from a family member) and are more forgiving of past credit issues and problems. FHA loans look at the last two years [...]
If you have bad credit and have been thinking of buying a house or refinancing your current mortgage you have probably run into a few problems. With the economy in it’s current recession, lenders have tightened down even more on lending requirements and have raised the credit score requirements to qualify for mortgage loans. Are [...]