FHA seeks tighter reverse mortgage rules – The losses on these defaults take money from the FHA mortgage insurance fund. So the FHA is moving to tighten its requirements for seniors who apply for an FHA-insured reverse mortgage, which the.
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FHA may be open again to financing condos – If so, that could be excellent news for young, first-time buyers and for seniors who own condo units and need a reverse mortgage to supplement their post-retirement incomes. Here’s why: FHA financing.
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Condos Continue to Cause Reverse Mortgage Headaches – according to data from the fha-approval consultants fha pros, LLC. In the Chicago area, David Hochberg, vice president of mortgage lending on Team Hochberg at PERL Mortgage, said about 50% of his HECM.
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FHA Loan Illinois – Inlanta Mortgage – Madison – The Illinois FHA home loan is designed for people that will live in the home as their primary residence. FHA does not loan money for vacation homes or rental properties. However, the FHA loan program is flexible about the type of property that you buy.
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FHA and VA Changes; Agency Deals Continue to Share Risk – The FHA loan limits are effective with case numbers assigned on or. the report has been delayed. But we’ll have Chicago PMI for December at 9:45am ET (expected to decline), Pending Home Sales Index.