There are some changes coming in the FHA requirements that are worth noting. The Federal Housing Administration has been under pressure recently due to higher defaults and falling reserves. To be clear, you should know that the FHA doesn’t actually lend money to home buyers, but insures lenders against default of loans that meet FHA...
President Obama signed the American Recovery and Reinvestment Act of 2009 into law last week. Of note to potential home buyers and current home owners was Section 1006, which granted an “Extension of and Increase in First-Time Homebuyer Credit” as well as a Waiver of the requirement to Repay. Here are the details: The previous...
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