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Tag Archives: fha

First-time Buyers to Pay for FHA’s Financial Crisis

Facing a financial crisis, FHA is asking first-time buyers to pay for the sins of borrowers who came before them. Increases in FHA mortgage insurance premiums and new, tougher underwriting standards that take effect April 1 will cost new borrowers significantly more than refinancing borrowers who have had an FHA loan four years or longer. Read More »

FHA Steps Up Intervention for Seniors at Risk of Foreclosure

The Federal Housing Administration (FHA) offers new guidance for homeowners and lenders for borrowers with reverse mortgages falling behind on property taxes and insurance premiums, placing them at risk of foreclosure. “We understand that some senior citizens have not paid their taxes or insurance for some time and may be at risk of losing their home,” said FHA Commissioner David ... Read More »

PA Fraudclosure Scandals Taint Thousands of Court Actions

Allegations of legal misconduct and fraud mount as attorneys general and bank regulators investigate lenders and servicers. Charges of unauthorized practice of law by low level employees in a Philadelphia foreclosure mill that represented lenders and servicers in thousands of foreclosures is the latest wrinkle in the ongoing saga of the U.S. housing crisis. Goldbeck McCafferty & McKeever has come ... Read More »

Banks Could Tank New FHA Refinancing Program

A new FHA program launching next Tuesday allows homeowners who are underwater on their mortgages to refinance at today's record low rates, take at least 10 percent off their principal, and get a new FHA loan that will leave them with positive equity in their home. Read More »