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Reform legislation The Expanding the American Homeownership Act, H.R. 1852, known as FHA Reform or FHA Modernization, was approved by the U.S. House Financial Services Committee on May 3, 2007. The bill now awaits a vote by the full House of Representatives. It will enable the FHA to reach more prospective borrowers and allow millions …

YOU WORKED HARD FOR HOMEOWNERSHIPThe Federal Housing Administration has helped millions of Americans secure their dream of homeownership since 1934. Now we want to keep those dreams alive. We provide mortgage insurance on loans made by FHA approved lenders throughout the United States and its territories. FHA insures mortgages on single family, multifamily and manufactured …

This is such good news I decided to include it here in it’s entirety! How FHA Could Help Borrowers Refinance and Avoid Foreclosure By Deborah Solomon RISMEDIA, August 27, 2007- (The Wall Street Journal Online)–As the subprime-mortgage crisis ripples through the broader housing market, the Bush administration is eyeing an often overlooked federal mortgage insurer …

Start building credit early. Last week I had to do something that I really didn’t like. I had a young couple come to me wanting to buy their first home. They were so excited, and so was I. Until we hit a snag, and not just a little one. They didn’t have a great credit …

Mortgage Broker vs. Loan Officer When you’re looking to get a mortgage loan, you may work with a loan officer or you may choose to work with a mortgage broker. People often confuse the two job types even though both will glean the same results: a new home. However, it is important to understand the …

I recently read an article on CNN Money that was so important because it is going to help so many people. It was about a new piece of legislation that Bush signed that makes PMI deductible for many homeowners. Here it is… A $40 billion tax bill signed into law Wednesday by President Bush extends …

Things to avoid before buying a home Many new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. …

Here is a great article and video on Reverse mortgages, from MSNBC. Watch Video Imagine getting a check each month instead of writing one REDFORD, Mich. – For 88-year-old Mort Linick, a red scooter symbolizes financial freedom. He bought the scooter with money he and his wife, Fran, get from the mortgage company, instead of …

A reverse mortgage is a loan or line of credit you take against your house from the equity in your house that you do not have to repay, as long as you live there. You can choose to pay it off if you sell your home or you can simply live in your home until …

Mortgage fraud is becoming more common. To protect your home and your home equity it is important to understand and recognize the signs of mortgage fraud. It’s also important to know how to report fraud to state and federal authorities so they can stop scam artists from preying on innocent borrowers. Scam artists will often …