And so it begins. Mortgage companies are beginning to announce their options for home buyers that will allow for down payments as low as 3%
President Obama signed an act this week that included HUD’s new budget and delayed a program that would have saved borrowers hundreds a year.
As many experts have pointed out, mortgage credit is too tight and a new report suggests the uncertainty around servicing delinquent mortgages may be to blame.
The company, which is currently dealing with a mountain of regulatory issues, said it has purchased almost 2,000 delinquent FHA-insured loans.
The spending bill provision included in the Senate bill would cost lenders $40 for every $100,000 borrowed.
The FHA's fees have more than doubled since the bust and now with more relaxed lending standards in effect, homeowners could save up to $12,000 with PMI, according to WalletHub data.