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hud: Interested in a Condominium? Get a FHA-Insured Loan - 07/18/10 01:44 AM
Mortgage Insurance for Condominium Units (Section 234(c)) program assists potential homeowners in purchasing a home in a condominium development. The prospective condominium must be the potential homeowner's primary residence.

The intent of this federal program managed under the U.S. Department of Housing and Urban Development (HUD) is to insure the loan of a borrower who buys a unit in a condominium property. HUD does not directly provide loans to borrowers. Instead, HUD insures loans through FHA-approved lenders. Some of those who take advantage of the program are low- to moderate-income renters who want to buy their unit in order to … (1 comments)

hud: Options for Avoiding Foreclosure - 10/25/09 12:01 AM
If you are having trouble keeping up with your mortgage payments, you're not alone. If you are three months or more behind in your mortgage payments, then you are one in an estimated 3 million or more who are currently in one state or another of default.

In this situation, however, what are your options for avoiding foreclosure?

Regardless of where you are right now with your mortgage payments, the most important thing you can do is to contact your lender when you first realize you are having problems. Never ignore communication from your loan servicer.

It … (1 comments)

hud: Federal Mortgage Home Loan Programs - 10/07/09 02:32 AM
In need of a loan to buy a house, make repairs on your home or buy a house and make repairs on a home? Are you thinking you might not qualify, though, so you've not started the process? You just might be surprised. The federal government currently has a variety of 18 federal mortgage assistance programs available to eligible homebuyers. Keep in mind, however, that most are for those who have very low- to middle-income and the home mortgaged must be your primary residence.

All available federal mortgage programs and are provided below. Detail for all programs may be accessed … (0 comments)

hud: Fannie and Freddie Mac Programs Help Struggling Homeowners - 08/29/09 11:53 PM
In March of this year, the Obama Administration authorized a new federal program to help stabilize the housing industry. The feds poured a mere $75 billion into the Making Home Affordable (MHA) mortgage program intended to avert further foreclosures, assist responsible home owners in retaining their homes and stabilize the nation's communities.

Home Affordable Refinancing Program (HARP) and Home Affordable Modification Program (HAMP) are the two initiatives under the umbrella of the MHA that are being used to distribute the funding for the program. The programs fall under the U.S. Department of Housing and Urban Development (HUD) secondary mortgage market … (0 comments)

hud: Federal Stimulus Funds to Buy and Fix Up Foreclosed Properties - 08/25/09 02:12 AM
State and local governments across the nation are gearing up to spend federal stimulus funds. The U.S. Department of Housing and Urban Development (HUD) birthed the Neighborhood Stabilization Program (NSP) that provides federal stimulus dollars to assist neighborhoods hardest hit by the home foreclosure crisis. The NSP falls under the umbrella of the American Recovery and Reinvestment Act (ARRA).

HUD's intent for the NSP is to provide assistance to more than 500 communities, cities and counties across America in the form of rent relief, for homeless prevention and to assist low-income families to buy homes. Organizations that are eligible for … (0 comments)

hud: Tips to Avoid Foreclosure - 02/23/09 01:00 AM
While foreclosure is the last thing a homeowner wants to face, it is an unfortunate reality of our current economic environment. However, by understanding what leads to foreclosure and the process that ensues, you may be in a better situation to act and avoid problems. The United States Department of Housing and Urban Development (HUD) suggests the following ten tips to homeowners facing foreclosure.

1.) Don't ignore the problem- Avoiding the problem doesn't make it go away. The sooner you act, the easier it is to get help based upon the delinquent fees on your account.

2.) … (4 comments)

 

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