Comments on: HUD Announces New FHASecure Standards http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/ The Unofficial Guide to FHA Loans & Mortgages Sat, 21 Nov 2009 04:54:47 +0000 http://wordpress.org/?v=2.6 By: Tom http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-21190 Tom Sun, 27 Jul 2008 05:10:22 +0000 http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-21190 So with the housing market being the way it is and just about everyone owing more on their mortgage than what the value of their home is (negative equity), what is this program supposed to do? If no one can use it and then they just increase their rates, it's a waste of time. Is it just something for them to try and make themselves look good with out doing anything? So with the housing market being the way it is and just about everyone owing more on their mortgage than what the value of their home is (negative equity), what is this program supposed to do? If no one can use it and then they just increase their rates, it’s a waste of time. Is it just something for them to try and make themselves look good with out doing anything?

]]> By: Carolyn http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20487 Carolyn Wed, 16 Jul 2008 19:58:44 +0000 http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20487 Most people who have subprime mortgages whether deliquent or current will not be able to get FHA secure loan because there is no equity in their home. Most lenders are not going to voluntarily write down the outstanding balance. As a result, obtaining a 97% LTV will be impossible. This concept sounds good but will not help subprime mortgage holders. Most people who have subprime mortgages whether deliquent or current will not be able to get FHA secure loan because there is no equity in their home. Most lenders are not going to voluntarily write down the outstanding balance. As a result, obtaining a 97% LTV will be impossible. This concept sounds good but will not help subprime mortgage holders.

]]> By: Peter G. Miller http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20476 Peter G. Miller Wed, 16 Jul 2008 14:58:17 +0000 http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20476 Marc -- You make an important point. Just a guess, but I bet that the number of delinquent conventional mortgages refinanced each month under the new FHA rules will stay largely the same or actually fall. Any help for Jackie, above? All the best, Peter Marc –

You make an important point.

Just a guess, but I bet that the number of delinquent conventional mortgages refinanced each month under the new FHA rules will stay largely the same or actually fall.

Any help for Jackie, above?

All the best,

Peter

]]> By: marc brinitzer http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20443 marc brinitzer Wed, 16 Jul 2008 00:06:33 +0000 http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20443 Peter, the other catch in the deal is that all lenders I know of are imposing a minimum Fico score of 580. Why is that a problem? Just try to maintain a 580 + score after you've had a string of mortgage (and maybe other) late payments! What a sham. Peter, the other catch in the deal is that all lenders I know of are imposing a minimum Fico score of 580.

Why is that a problem? Just try to maintain a 580 + score after you’ve had a string of mortgage (and maybe other) late payments!

What a sham.

]]> By: Jackie http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20422 Jackie Tue, 15 Jul 2008 16:06:25 +0000 http://www.fhaloanpros.com/2008/07/hud-announces-new-fhasecure-standards/#comment-20422 I'm not late on any payments but can't get help because I don't have 97% LTV. Nothing has really changed! I’m not late on any payments but can’t get help because I don’t have 97% LTV. Nothing has really changed!

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