Processing of Homebuyer Tax Credits to Ramp Up
The Internal Revenue Service this month is expected to begin processing the new form for those eligible to claim the first-time homebuyer tax credit, or for those long-term homeowners who can also qualify for ...
Reports Keep Feeding Gloomier Outlook for Foreclosures
They seem to be coming more frequently – studies or hard numbers showing the foreclosure crisis is nowhere near peaking. The latest sobering report shows that Florida’s filings reached nearly 400,000 ...
Home Sales Stabilize as Tax-Credit Fever Ebbs
Pending sales of existing homes have stabilized, with a modest 1 percent increase in a key housing market index for December that remains above year-ago levels, according to the National Association of Realtors’ ...
Flipping Foreclosures: Will 90-Day Rule Waiver Ease Crisis?
U.S. Housing officials hope to ease the impact on communities hardest hit by foreclosures with a one-year waiver of its rule against providing FHA-insured mortgages on homes resold within 90 days.
Beginning Monday, ...
FHA Foreclosure Rescues Now Provide Early Relief
Borrowers with federally-insured mortgages now don’t have to be late on their payments before qualifying for foreclosure help under an early relief program for those in “imminent default.”
The ...
Tougher FHA Increases Premiums, Credit Standards
In new policies aimed at bolstering its depleted reserves, Federal Housing Administration officials today announced tougher measures for borrowers, including higher mortgage insurance premiums, tighter credit scoring ...
Ginnie Mae Takes Key Role in Lend America Case
The Government National Mortgage Association, commonly known as Ginnie Mae, is transferring to one of its own servicers 6,700 loans – totaling $1.3 billion – that once belonged to the Long Island-based ...
FHA Chief: New Mortgage GFEs Must Be Offered Jan. 1
The Federal Housing Administration is clearing up some confusion about its new Good Faith Estimate (GFE) forms required of mortgage lenders, brokers and closing agents starting Jan. 1.
The goal of the new forms ...
Schumer to FHA: Help Qualified ‘Lend America’ Borrowers
Sen. Charles E. Schumer, D-New York, is asking the Federal Housing Administration to “aggressively” ensure that any legitimate and qualified Lend America borrower can secure a loan after this week’s ...
FHA Plan: Home Buyers to Need Better Credit, More Cash
The Federal Housing Administration, its funds almost depleted from the mortgage lending crisis, is seeking approval for new policies that would require higher minimum credit scores, more upfront cash and higher ...
