Articles and news about FHA loans and HUD requirements. FHA loans are great for first-time homebuyers.

Articles and news about FHA loans and HUD requirements.

Texas Flooding, FEMA, and FHA Disaster Relief Options

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With headlines about Texas flooding, FHA borrowers there and in other areas in danger of being affected by natural disasters this spring may wonder what options are open to them in the wake of a flood, a hurricane, tornado or ...

FHA HECM Loans With Set-Aside Accounts For Property Taxes

2015-31a

The FHA and HUD have been making a number of revisions to the FHA Home Equity Conversion Mortgage program (FHA HECM) including changing the nature of payouts based on the type of HECM loan (adjustable rate or fixed rate) and ...

FHA Loan Pre-Approval and Credit Scores

2015-02

One question that comes up frequently when talking FHA loans involves whether or not a borrower’s credit scores are affected by applying for pre-approval for an FHA mortgage loan. While we aren’t experts in credit reporting, and the FHA loan ...

HUD Announces Historic “Redlining” Settlement

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Redlining, the act of discriminating against a group of people in the mortgage loan servicing process, is prohibited by the Fair Housing Act. Redlining often goes undetected as long as those being discriminated against don’t file a complaint with the ...

Shopping Around For An FHA Loan

2015-08

One thing that’s important for house hunters to do when looking for a home? Comparison shop. But that’s not just a good idea when it comes to measuring the price tag on a home; it’s also a very good idea ...

FHA HECM Loan Rules: When Can A HECM Loan Be Declared Due In Full?

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There have been many changes to the FHA HECM (Home Equity Conversion Mortgage) program in recent months. If you are a qualified HECM loan applicant exploring your options now after having researched them a year or two ago, it’s likely ...

The 2009 First Time Homebuyer Tax Credit: A Reader Question

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A reader asks, “Is the tax credit still available to 1st time new home buyers? If not, are there any other credits available that can help new home buyers? Will I be considered a new home buyer if I purchased ...

FHA Loan Rules For Short Sales: A Reader Question

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A reader asks, “I filed a chapter 7 in 2009 and listed my home in the bankruptcy as it tuned out I tried to short sale but the bank told me no. so I filed and it discharged in 2009. ...

Happy Memorial Day 2015

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Today we pause our usual posts about FHA loans and related issues, in order to observe Memorial Day. We resume our regularly scheduled posts and answers to reader questions tomorrow. Thanks for reading and be sure to thank the veterans ...

FHA MIP Rates: A Reader Question

2015-10a

A reader asks, “I closed an FHA loan on 02/18/15 and was charged a rate of 1.689% for Mortgage Insurance Premium. The rates were reduced in January-15. Was I charged an incorrect rate?” This is a common question for some ...