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Recent FHA Changes
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Recent changes have been made in the process of obtaining an FHA loan. An FHA appraisal is no longer needed, but the Appraiser must be a certified FHA Appraiser.Most people have heard "horror" stories about getting an FHA loan or have had bad experiences themselves. The changes that have been made make it much easier for the subject property to be eligible for FHA lending. Most items that need to be repaired can be listed as general wear and tear or cosmetic by the appraiser.
One new FHA change that may take place soon is the elimination of down payment assistance programs. Be sure to contact us about the currently available options.
Recent Fha Changes in the News:
| Recent federal rule changes could aid mortgage industry (Finance and Commerce) |
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On Jan. 15, HUD announced a one-year waiver of the resale rules applicable to Federal Housing Administration-insured loans. FHA’s anti-flipping rules do not allow FHA-insured loans to be used to purchase a home if a seller acquired a title within 90 days of the date of sale.
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| Appraisal Management Company Survey Sheds Light on Industry Propaganda (PR Newswire via Yahoo! Finance) |
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Coester Appraisal Group, a nationwide appraisal management company, releases its annual appraisal industry survey. Â Over 1,559 licensed and certified appraisers completed the survey with the majority of appraisers licensed in one state and some as many as seven. Â Appraisers in all 50 states are represented in the survey.
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| Urbanite (amNewYork) |
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The building described as the city’s skinniest home is back on the market. The 9-½-foot-wide, three-story home is for rent, after it sold to much publicity in late January.
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| Late FHA loans spike 62% - but it's not as bad as it sounds (CNN Money) |
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The recent spike in the number of delinquent Federal Housing Administration-insured loans has some people worried that taxpayers will eventually have to bail the agency out.
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| Why Choose an FHA Mortgage Loan? Informa Research Services Advises. (Business Wire via Yahoo! Finance) |
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CALABASAS, Calif.----Depending on the type of mortgage, Informa Research Services, a subsidiary of Informa plc , recommends the Federal Housing Authority -backed loans as a possible source of financing.
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Recent Fha Changes on the Web: