fha

—>Earlier today a former Fannie Mae exec and the current head of the FHA gave conflicting testimonies to Congress about the health of the mortgage insurer—particularly about whether or not it's going to require a taxpayer bailout in the next couple of years.  More »

—>BusinessWeek has an interesting article about a little known program that will allow first-time home buyers (technically, those who have not owned a home in three years) to use the 8k tax credit to offset down payments or closing costs.   More »

Looking for a mortgage? You might want to consider an FHA loan. The New York Times says, "The Federal Housing Administration used to be known as a place for low-income borrowers with tarnished credit histories. But now, it has become a destination for borrowers whose credentials are respectable, but not stellar." [NYT]  More »

—>Matt at SteadFastFinances tipped me off to a possible loan-modification scam running ads on network TV.   More »

—>Reader Brian says he saw the above pictured infomercial on CNBC this Sunday, and is wondering how they get away with such a "blatant attempt to take advantage of those same mortgage consumers who where hoodwinked in the first place."   More »

—>A new bill that will help 1-2 million homeowners escape their unaffordable mortgages by refinancing into new low-cost fixed-rate loans insured by the Federal Housing Administration (FHA) has passed the House and will now move on to the Senate. If it is eventually passed by the Senate and signed by the President (who is no longer threatening to veto it), will it help you?  More »