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1. Stricter FHA Rules Could Stall Recovery Efforts

   Many buyers relied upon the backing of the Federal Housing Administration to give their less than perfect loan qualifications a ?stamp of approval?. The tightening of the rules and requirements by the FHA has begun to shut out these ... slow new homes sales, but the long term effect will be a reduction in foreclosures due to more qualified buyers. The strength of the housing market depends upon quality underwriting of new loans, and the financial worthiness of new buyers. ...

1. Hoboken Real Estate Monitor: 10 Things to Know About Real Estate ...

   At the same time, the plan does not sufficiently address the issue of negative equity?owing more on your home loan than the property is worth?which also works to increase foreclosures. ... agency-backed home loans. In early December, the Department of Housing and Urban Development announced that it would make several changes to FHA mortgage requirements: raising up-front cash requirements, boosting minimum credit scores, and perhaps charging more for insurance premiums. ...

1. Down Payment Assistance Programs

   Eligible borrowers must provide full income documentation and qualify using tandem first mortgage financing insured through traditional prime insurers: FHA, VA, USDA-RD, Fannie Mae, Freddie Mac or as authorized by the city or county program ... FIND A LOCAL DOWN PAYMENT ASSISTANCE PROGRAM There are a number of ways to locate programs and corresponding eligibility requirements. A good source of information may be obtained through real estate agents, loan officers, ...