FHA
We’ve been faced with good news about the Texas housing market, but a darker side has emerged. Texas is having trouble with Federal Housing Administration loan delinquencies. The Dallas-Plano-Irving area joins Houston and San Antonio metro areas as Texas metros having the biggest increases in late payments on federally backed home loans through the end…
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On Friday afternoon, just hours after swearing in, President Donald Trump suspended a Federal Housing Authority (FHA) mortgage premium rate cut issued by former President Barack Obama earlier in the month. The quarter-point cut would have taken effect on January 27. An FHA loan, with its low down payment and less stringent credit score requirements,…
Read MoreIf the lending practices of the 1940s were still in place, would you have been able to get the mortgage you currently have? In some neighborhoods in Dallas, you’d be fairly confident in saying yes. But in others, the answer might surprise you. A week ago, I was able to attend a workshop hosted by…
Read MoreI hate to put a damper on your holiday week, but hope you saw this item: the agency responsible for guaranteeing most of our housing loans, may need a bailout: FHA. The agency doesn’t make loans, but it backs lenders if borrowers stop paying, like a nice parent or co-signee. With this guarantee in place,…
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