fha: FHA, Fannie Mae & Freddie Mac Are Still Going Strong
- 10/23/08 03:38 AM
Even though the credit markets have been frozen, homebuyers can rest assured that the FHA, Fannie Mae and Freddie Mac are still open for business during the credit squeeze. In fact, FHA's volume has tripled. They are even insuring over 100,000 new loans a month. According to a spokesperson with HUD, FHA, Fannie Mae and Freddie Mac have kept liquidity up for new homebuyers and have virtually unlimited funds for new mortgages. Combined, these three entities control 90% of US mortgages. The credit crunch will not affect homebuyers with at least a 3% down payment, a documentable employment record and moderately good credit rating. … (0 comments)
fha: FHA Offers More
- 07/25/08 06:23 AM
FHA is offering help to more at-risk homeowners. Homeowners who are experiencing difficulty in making their mortgage payments due to adjustments in their interest rates may be able to refinance their home through FHA's refinance program: FHASecure. Although, the program was established a year ago, it seems that many homeowners are not aware that they may be able to refinance their home and avoid foreclosure. FHA has temporarily increased its loan limits, which will allow the FHASecure program to help more families keep their homes. Due to the increase in the loan limits, you may still be able to qualify even if … (0 comments)
Even though the credit markets have been frozen, homebuyers can rest assured that the FHA, Fannie Mae and Freddie Mac are still open for business during the credit squeeze. In fact, FHA's volume has tripled. They are even insuring over 100,000 new loans a month. According to a spokesperson with HUD, FHA, Fannie Mae and Freddie Mac have kept liquidity up for new homebuyers and have virtually unlimited funds for new mortgages. Combined, these three entities control 90% of US mortgages. The credit crunch will not affect homebuyers with at least a 3% down payment, a documentable employment record and moderately good credit rating. … (0 comments)
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