A lot of buyers hear that you can’t get 100% financing anymore. However, it is still possible to get 100% financing, which in short means no down payment. There are three options available to buyers for 100% financing: 1) FHA loan...
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“Indeed, as we go forward, there seems to be a lot of room for consensus and common ground for minimizing the impact of the correction on homeowners, communities, and the economy. The notion seems pretty fundamental in this country tha...
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“So, looking back, we know what led up to the housing correction – risky lending chasing rising home prices fueling more risky lending – until the bubble burst. Looking at the situation now, there are some short-term remedies t...
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“Long-term, I believe the focus should be two-fold. First, we need to make balanced reforms to the lending system. Second, we need to restore the fundamental healthy demand for housing, based on people who want and can afford to buy a...
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“Let me sketch some immediate actions that I believe would make the slowdown shorter and shallower… Here are five short-term remedies: First, the Treasury Hope Now initiative is an important step. By helping ...
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“Let me review briefly how we got here. As the decade started, incomes were rising and interest rates were low and stable. Demand for homes outpaced supply, driving a sustained boom in home prices. Affordability plummeted. &...
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We’re including a speech by Daniel Mudd, the President and Chief Executive Officer of Fannie Mae. He does a good job of explaining everything that’s been going on with the housing market. We’ll include the main areas of hi...
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The FHA Modernization Act will soon be reducing the 3% down payment requirement to 1.5%. This act will also increase the loan limit from $251,000 to $417,000. These two improvements will make it easier for home buyers around the country to ...
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