HUD’s actions will help speed foreclosure sales and protect against predatory flippers. With the housing industry still facing recovery challenges in 2010, there is some good news in the St. Louis area. Foreclosure activity from December to January declined by five percent, according to RealtyTrac. This is the second straight month that action on foreclosed … Continued
The move is designed to generate additional income to ensure FHA solvency. Borrowers who choose Federal Housing Authority (FHA) programs will see increased costs involved with that agency’s mortgage insurance and will have to have higher FICO scores. The move provides more financial stability for the FHA as rising defaults dipped below required reserves. Right … Continued
As demand for homes is expected to increase this Spring, Bankrate.com offers 9 tips for homebuyers. Buyers have access to the lowest mortgage rates in years and an $8000 first time home buyer tax credit that does not have to be repaid if the homeowner lives in the home for at least three years. This … Continued