Nov 16th 2011 10:49AM
WASHINGTON -- Congressional bargainers have agreed to increase the size of mortgages insured by the Federal Housing Administration in a compromise being hailed by the housing industry but criticized by conservatives. Under the deal by House and Senate negotiators, the FHA would be able to insure mortgages worth up to... Continue Reading »
Apr 27th 2011 7:33AM
Blame it on mortgage insurance rates. Mortgage applications dropped 5.6 percent from a week earlier as of April 22, reported the Mortgage Bankers Association. This coincided with a hike in FHA loan premiums -- over the past month, applications had risen as home buyers tried to beat the deadline. There also was no... Continue Reading »
Dec 10th 2010 3:22PM
Reverse mortgages are a common money-raiser for senior-citizen homeowners. Unfortunately the high fees associated with reverse mortgages often make them a poor choice. But a new program from the Federal Housing Administration called the Home Equity Conversion Mortgage Saver (HECM Saver) helps lower some of the costs... Continue Reading »
Nov 5th 2010 4:00PM
More Americans find themselves in a position of negative equity -- owing more on a mortgage than the home is currently worth. By itself, negative equity isn't necessarily trouble. Those who can afford their monthly mortgage payments and have a safe loan structure can wait out the market until home values improve. For... Continue Reading »
Aug 30th 2010 4:35PM
Could this month's dreadful home sales numbers prompt the feds to offer another homebuyer tax credit? Mum's the word on Capitol Hill, but HUD Secretary Shaun Donovan would not rule out the option during an interview Sunday on CNN. Existing-home sales sank 27.2 percent in July, and sales of new homes dropped to their lowest... Continue Reading »
