Posts Tagged ‘fha’

I don’t know if this is a good deal or not, I am often not certain about the usefulness of government programs until I see them in action, but assuming that it is good, HUD has a new program coming out that will assist underwater NON-FHA home owners. This means negative equity position is the first requirement for the program. Read More

Up until now, get get assistance on an FHA loan in Oregon, the borrower had to be at least 30 days behind on their payments. However, homeowners with FHA-insured mortgage loans who are experiencing financial hardship are now eligible for loss mitigation assistance before they fall behind on their mortgage payments, according to a recent release from the U.S. Department of Housing and Urban Development (HUD). Read More

HUD announced Friday that the rules on flipping homes will be changing Feb. 1. This could have a huge effect on the Eugene/Springfield, Lane County Oregon market. This is being done in an effort to stabilize home values and improve conditions in communities where foreclosure activity is high according to HUD Secretary Shaun Donovan. I see this as being a boon to our are in getting rid of more of the foreclosures that have been plaguing our market. Under current rules, foreclosures that were still owned by the banks that purchased them could be bought with an FHA loan but any that were purchased from the bank had to be owned for 90 days before an offer could be made on them for an FHA loan. Read More