Real estate blog entries tagged with hud by Mortgage Loan Place

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Home : Blogs : Brandon Laughridge : Brandon Laughridge's Blog : Tag "hud"

hud: HUD to Cut Downpayment Assist Programs? - 05/09/07 09:25 AM

News surfaced today about the HUD putting into action measures that would eliminate downpayment assistance programs that have grown to encompass some 33% of all downpayments made on FHA loans. The programs, of which there are actually hundreds, include big name options such as Nehemiah and AmeriDream helped put over 100,000 people into new homes in 2006.
HUD has noticed an increase in the rate of foreclosures in homes financed using these programs, and that is something they are looking to curtail. Forelosures are on the rise nationwide, with many expecting the subprime mess to lead to hundreds of thousands more (if … (1 comments)

hud: Curtailing Subprime Lending in Congress - 05/01/07 09:28 AM

Legislation aimed at limiting the reach of subprime lenders was introduced into Congress on Friday.
The Predatory Lending Practice Reduction Act of 2007 calls for federal certification of mortgage brokers and agents and harsher penalties for violations.
"Predatory lending is a leading cause of foreclosures across this country," said U.S. Rep. Stephanie Tubbs Jones (D-Ohio), who introduced the bill. "It compromises the opportunity to own a home and hinders economic stability, creating greater disparities in wealth."
Forclosure or failed mortgages will strike more than 2 million American homeowners in the subprime market by the year's end, according to the Center for Responsible Lending, a … (5 comments)

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Brandon Laughridge

Columbia, IL

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