Posts Tagged ‘Federal Housing Administration’
Hope for Homeowners?
The Federal Housing Administration’s Hope for Homeowners program launched on Wednesday to very little news coverage or fanfare. Here are the features of the program, according to the FHA.
- 30-year, fixed rate mortgage
- Maximum 90 percent loan-to-value ratio
- No prepayment penalties
- $550,440 maximum mortgage amount
- Extinguishment of any subordinate liens
- New home appraisals from FHA-approved appraisers.
Two media outlets that have covered the new program are the Washington Post and NPR. Neither story was terribly optimistic. Read More “Hope for Homeowners?” »
