FHA Throws Lifeline to Would Be Buyers With Short Sales and Foreclosures

Yesterday, FHA announced that it was cutting the timeframes which some qualified would-be buyers who had gone through a short sale, foreclosure or bankruptcy would have to wait before purchasing another home. “FHA recognizes the hardships faced by these borrowers, and realizes that their credit histories may not fully reflect their true ability or propensity […]

FHA and VA Buyers – Think About New Builds

Here’s the basic reality of purchasing a home with either a VA or FHA loan. It’s bloody difficult in this market, especially under $175,000. Why? It’s rather simple … Multiple offers are the norm and, if someone else comes in with cash, an FHA or VA offer is DOA. FHA offers often have seller concessions […]

FHA Home Buyers – The News is Getting Worse

Here’s a little known (dubious) fact … In the original script for Groundhog Day, the character played by Bill Murray was supposed to be an FHA appraiser, not a weatherman. The studios, however, felt it would be difficult for the public to relate to the all-too-real scenario of an FHA appraiser trapped forever in the […]