Tag Archive | "HUD"

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New Limits Announced on FHA Mortgages

Recently, the Department of Housing and Urban Development released the new limits on FHA-insured mortgages. Previously, potential homeowners in some areas complained that they could not take out an FHA loan because properties in their county exceeded the loan limits. The increased limits are a result of legislation included in the new stimulus bill [...] [...more]

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Buying Foreclosures with FHA Loans

Buying a home that’s been through foreclosure has the same requirements as purchasing any property. It is possible to take out an FHA loan to buy a foreclosure home. However, there’s one big problem: foreclosure properties are often so trashed that lenders won’t issue a mortgage for them. I once walked through a home where the [...] [...more]

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