Comments on: The End Of FHASecure http://www.fhaloanpros.com/2008/12/the-end-of-fhasecure/ The Unofficial Guide to FHA Loans & Mortgages Tue, 17 May 2011 20:16:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Scott http://www.fhaloanpros.com/2008/12/the-end-of-fhasecure/#comment-35502 Scott Sun, 04 Jan 2009 21:16:22 +0000 http://www.fhaloanpros.com/?p=841#comment-35502 Your conclusions are dead on, another worthless program for the politicians to claim some bogus benefit so they can get re-elected. I own a pool of 100 hard money loans with 50% in default. I would like to help these folks but I'm not a bank and my cost of money doesn't allow me to refi these people at current market rates so I just end up taking the houses which were funded at 65% LTV. I don't lose on these deals as I make the properties into rentals, but the borrowers sure do. Would be nice for the borrowers if they had access to capital that would allow them to keep the houses. FHA Secure or H4H could have done that but both were complete failures since nobody wanted to own the mortgages even with the FHA backing. Only real solution is a program that has the Fed buy the mortgages directly. That of course makes the banks irrelevant along with the $300B we gave them...... Your conclusions are dead on, another worthless program for the politicians to claim some bogus benefit so they can get re-elected. I own a pool of 100 hard money loans with 50% in default. I would like to help these folks but I’m not a bank and my cost of money doesn’t allow me to refi these people at current market rates so I just end up taking the houses which were funded at 65% LTV. I don’t lose on these deals as I make the properties into rentals, but the borrowers sure do. Would be nice for the borrowers if they had access to capital that would allow them to keep the houses. FHA Secure or H4H could have done that but both were complete failures since nobody wanted to own the mortgages even with the FHA backing. Only real solution is a program that has the Fed buy the mortgages directly. That of course makes the banks irrelevant along with the $300B we gave them……

]]> By: gladys frias http://www.fhaloanpros.com/2008/12/the-end-of-fhasecure/#comment-35054 gladys frias Sat, 03 Jan 2009 06:04:07 +0000 http://www.fhaloanpros.com/?p=841#comment-35054 Hi, Does this means, that first time home buyer would have to pay higher percentage on a fha, loan or even down payments for a home? How many years must go by, after a bankrupcy (discharged) for the fha to aprove a loan, or even help, with purchasing a home? Hi, Does this means, that first time home buyer would have to pay higher percentage on a fha, loan or even down payments for a home?

How many years must go by, after a bankrupcy (discharged) for the fha to aprove a loan, or even help, with purchasing a home?

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