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Federal Housing Administration
Latest Federal Housing Administration Items
Only three months after proposing a mortgage-relief plan, President Obama went back to the drawing board Wednesday with another proposal that would allow millions of "underwater" borrowers to refinance home loans and would impose a new tax on big banks.
Former astronaut Mark Kelly said Rep. Gabrielle Giffords is "still improving" but he has no interest in running for her House seat if she is unable to do so.
Potential homebuyers eager to take advantage of today's low mortgage rates and relatively more affordable home prices sometimes are stymied by the prospect of accumulating a substantial down payment.
Politicians and realtors want to maintain a permanent government occupation of the housing market. If the hippies clogging the streets of major cities had any integrity for their cause, they'd speak out against mortgage lending practices that stick taxpayers with the bills when banks make bad loans. On Thursday night, the Senate voted 60-38 to do more of the same.
While champagne flutes, table linens and toasters are traditional wedding gifts, many of today's brides and grooms already have established a home together and have more than enough household goods. Yet asking for cash gifts is seen by many as a longtime etiquette no-no.
Wall Street stocks staged a convincing comeback after weeks of turmoil Tuesday, with the Dow Jones industrial average first plumbing new lows near 10,500 before surging to end up 430 points in a lightning-fast rebound in the closing 45 minutes of trading.
Most prospective homebuyers are aware of today's stricter lending standards, but they also face another challenge when it comes to buying a home: the need for down-payment funds. At the height of the housing boom, a variety of no-down-payment loans were available, but those types of loans are rare in today's tightened credit market.
The Obama administration is making it easier for out-of-work homeowners to stay in their homes, as it tries to revamp its troubled foreclosure-prevention program.
The subprime mortgage market is largely extinct, and this probably is a good thing. Partially filling the void left by subprime loans are Federal Housing Administration (FHA) loans and Veterans Affairs (VA) loans. Last week, I discussed features and advantages of FHA mortgages. This week, I'd like to talk about VA loans.