FHA and the coming changes - 08/30/10 10:16 PM
FHA, home buyer's go to mortgage of choice in today's lending environment, is changing their mortgage insurance effective October 4th. FHA was formed in 1934 by the government to help stabilize the housing market during the great depression.
One of the reasons for the adjustment is that year to date, FHA insured over the half of the loans nationwide, compared to only 2% of home loans in 2006. In Arizona, it is estimated that more than 70% of homes financed utilize FHA.
FHA managed to circumvent the mortgage debauchery of 2004 to 2006 (Remember when sellers, you know, real sellers, not … (2 comments)

 

Find AZ real estate agents and Phoenix real estate on ActiveRain.