FHA Loan Production More Than Doubles in Fiscal Year 2008
FHA lending is popular.
During fiscal year 2008, the FHA endorsed over 1.2 million single-family mortgages, up from 532,000 a year earlier, HUD said in its annual report.
That figure includes 111,661 Home Equity Conversion Mortgages (reverse mortgages), with the grand total representing $177 billion in new mortgage endorsements, up from $60 billion in 2007.
HUD credited the recent rise in FHA Read more
Why Buying a Home is Better than Renting
Most people don’t realize the hidden costs of homeownership, nor do they even consider the hidden potential. Owning your own home can become quit expensive. There are hidden costs that you don’t think about when you are signing papers at your closing. These hidden costs can become intense, but your new home is an investment, if you realize it or not. In the example below we will look at a house that was bought in 2001 for $150,000 Read more