Tagged : FHA

Found 2 blog entries tagged as "FHA".

househill_sellingpix_450homes.yahoo.com - The Federal Housing Administration (FHA) recently enacted a rule change allowing borrowers who have fallen into foreclosure, bankruptcy, or a short sale to become eligible for a brand new mortgage backed by the FHA in as little as one year from the date of their previous foreclosure auction, the date of closing on a short sale, or the discharge date on a Chapter 7 bankruptcy. Considering the previous waiting period for a government-backed mortgage was three years, the new rule that shortens the wait to one year is a shiny new present to buyers who had all but accepted the reality of becoming renters for the foreseeable future. The new rule is in effect till Sept. 30, 2016.

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houseinhand_voronin_450money.cnn.com - HUD originally said on Friday that it would stop working on applications for loans guaranteed by the Federal Housing Administration if the lights go out in Washington. But it reversed that position over the weekend.

"The HUD Contingency plan posted on Friday mistakenly included incorrect information about a potential shutdown's impact on the FHA single-family loan program," HUD said in a statement. "FHA will be able to endorse single family loans during the shutdown. A limited number of FHA staff will be available to underwrite and approve new loans."

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