When I bought my house it was definitely a “fixer-upper”. Literally the first thing my mother said to me upon seeing it from the outside for the first time was “please tell me that isn’t your house”. It was. I didn’t mind all the hard work it took to fix the place up and I [...]
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Today, FHA announced a new premium structure for FHA-insured single family mortgages: as of this spring, the annual mortgage insurance premium (MIP) will increase by 0.10 percent for loans under $625,500 and by 0.35 percent for loans above that amount; and upfront premiums (UFMIP) will increase by 0.75 percent. While the new structure is expected [...]
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Home of the day: Affordable senior housing complex nearing completion in Vernon Hills, IL. HUD announces 13 communities to receive Choice Neighborhood grants. Optimism on the housing market continues to rise. HUD awards grants to Union County, NJ to help aid the homeless. FHA’s new program will expedite affordable housing application process. And homeowners in [...]
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Home of the day: the nation’s first energy-efficient log cabin in Penwater, MI. The Washington Posts’ Mark Zandi argues that aggressive intervention by the FHA saved the housing market and the economy from a much darker fate. Los Angeles County is one of five places across the country selected for HUD’s “Section 3 Business Registry” [...]
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Today in the Washington Post, Moody’s Chief Economist Mark Zandi tells us why he thinks we would be worse off without the FHA. The Federal Housing Administration is getting a bum rap. The agency, which currently accounts for almost a third of all mortgages received by U.S. home buyers, has done an admirable job during [...]
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