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FHA Mortgage Counseling — Only for First-Timers?

by Peter G. Miller
May 31st, 2007

The first time I bought a home I financed with FHA financing. The broker told me how much cash I needed, I said great, and the deal was done.

The problem was I had no idea how FHA financing worked. Had the lender been something other than honest, they could have charged just about any read more

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FHA & Risk-Based Insurance

by Peter G. Miller
May 31st, 2007

Syndicated columnist Ken Harney reports that barriers remain to FHA reform.But whether there are or are not barriers, individual borrowers might want to ask if they will benefit should the new proposals pass in the Congress.

For instance, one read more

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Gimme A Break

by Peter G. Miller
May 30th, 2007

The American Financial Services Association (AFSA) says we may be headed for a credit crunch.

“The study, conducted by the Center for Statistical Research (CSR),finds that more restrictive mortgage regulation would deny credit not read more

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FHA Switcheroo

by Peter G. Miller
May 30th, 2007

It appears that a lot of people are getting tired of new-fangled mortgages with strange terms and surprising costs.

The result? They’re turning to FHA loans.

FHA Commission Brian Montgomery says about 100,000 people will dump “nontraditional” loans and convert read more

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Beat Foreclosure — Get A Pig?

by Peter G. Miller
May 29th, 2007

Some stories are just too good. KTVB, Channel 7 in Boise,  Idaho reports that a man facing foreclosure locked three pigs in his home with about the results one would expect. The pictures that go with the story read more

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FHA Mortgages Versus Credit Cards

by Peter G. Miller
May 29th, 2007

Sam Thompson, a blogger and North Carolina mortgage loan officer, makes the point that

“Congress is jumping on mortgage lenders for charging 12% interest rates while credit card companies are getting away with charging 28% with no signs of intervention!”

Let me say that, halfway, read more

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FHA Loans — Will They Come Back?

by Peter G. Miller
May 23rd, 2007

It wasn’t too long ago that the FHA mortgage program was just about dead. While some 1.5 million loans were originated under the FHA program in 2003, by 2005 loan volume was down to 555,000 mortgages.

But now there is new hope for the FHA financing. What’s really happened is that read more

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