HUD Website Great Resource For Homebuyers.

By
Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages NMLS #65149

Those of us in the Real Estate Industry, all recognize that FHA is one of the main Loan Products right now for a Buyer to consider.  FHA is HUD"s Federal Housing Administration arm which insures mortgages for Lenders/Banks.  FHA insured Loans presently offer Borrowers Loan Programs with Lower Downpayment, and more flexible underwriting guidelines, than Fannie Mae, or Freddie Mac (Conventional Loans) Loan Products.  What many are not aware of is that HUD is also a great resource for information on mortgage and housing related issues.

The HUD website www.hud.gov is and easy way to find out about all of the Loan Products offered through HUD/FHA, but equally important it offers perspective Buyers great adice on what to watch out for when obtaining a mortgage.  There are four links on the HUD website that I feel Borrowers should read to learn about their rights, mortgage contracts, and how to look out for scam artists and predatory lenders:

The four HUD website links are:

  • Predatory Lending:  HUD suggests a number of ways to protect yourself from Predatory Lending/Loan Fraud
  • Fair Housing: If you think that you have been discriminated against in trying to purchase or rent based on race, color, national origin, religion, sex family status, of disability, you can file a fir housing complaint on at this link.

This information should be valuable for anyone that thinks that they have been a victim, or just want information to protect themselves from becoming a victim.  The HUD website contains a lot more valuable information on other loan and housing issues well, and should prove to be a valued resource for those who visit it.

 

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Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

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Location:
Connecticut Middlesex County Middletown
Groups:
Realtors®
Mortgages
1st Time Buyers
Connecticut Club
Real Estate Rookie
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Rainer
16,131
Edward McCaffrey
Page Taft Real Living - Essex, CT
ABR, GRI, e-PRO

George, with all the resources on the Internet, this one and others similar can be extremely valuable to buyers - these links can be a great resource to clients who can become better informed to make better decisions and avoid getting into trouble - thanks for the links! 

Apr 10, 2009 12:21 PM #1
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Ed, lots of great info out there if you know how to search for it.  I just thought that I would make it easier by providing these links.

Apr 10, 2009 12:39 PM #2
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Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

George HUD is certainly a great resource for the consumer and for us too.  Hopefully such a resource will be used more often as this would help consumers avoid some of the past mistakes.

Apr 10, 2009 12:54 PM #3
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jennifer, hopefully people will make use of information like this that is easily available to them.

Apr 10, 2009 01:32 PM #4
Rainmaker
319,763
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

Great article -- I love sharing things like this with consumers.  There is such an amazing wealth of information available to them.

Apr 11, 2009 02:11 AM #5
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Kathy, by providing info like this they can read it for themselves, and they don't have to assume that they are being given the right answers.

Apr 11, 2009 05:58 AM #6
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