A few weeks ago, I talked about how Nehemiah Corp. was getting a lot of heat from the feds for getting people into homes with little if any down (by having the seller pay the down payment.) In today’s Wall Street Journal, it’s revisited again, but home builders are also being taken to task. Some, [...]
Filed under: House Hunt, Mortgage Mania, The Market | Tagged: assistance, down payment, fha, loan, mortgage, Nehemiah | Leave a Comment »
Both the New York Times and MarketWatch are reporting that Federal Housing Administration execs want to end the practice of seller-financed down payments, a way for those without 3 percent down to get into an FHA loan. Brian D. Montgomery, the F.H.A. commissioner, attributed the unanticipated losses primarily to the agency’s seller-financed down payment mortgage [...]
Filed under: Mortgage Mania, The Market | Tagged: down payment assistance, fha, gift, Nehemiah | 4 Comments »
I was talking to some mortgage brokers today and they were telling me that the GSEs (government-sponsored enterprises like Fannie Mae, Freddie Mac, Ginnie Mae, Sallie Mae, etc.) were releasing some of their criteria and it didn’t look that good for homeowners (and would-be homeowners.) Why you ask? “It’s looking like lending is moving back to the [...]
Filed under: Foreclosure Fever, Mortgage Mania, The Market | Tagged: california, fannie mae, fha, foreclosure, freddie mac | 3 Comments »
