FHA limit increases

[NotCranky]

I had an FHA loan because that is what the broker got me :).
Also many moons ago. I had a 5.85 fixed rate because BOA had been Redlining the ghetto I bought in and was forced to give a discount. An FHA inspector gave some superficial look at it. I fixed a few things for him because it was a REPO and no one else was going to do it.I was repairing it while it was still in escrow the appraiser came and I told him it was worth 20% more than I paid for it so I didn’t pay PMI. I moved in and was paying about 60% of market rent. Yes those were the good old days TG. Sold that house for a decent profit to an FHA buyer but told the buyers agent to increase the offer for the added expenses. The house quadrupled in the 8 years after I sold it. Made very nice house cleaning lady relatively wealthy though, so that was good.

[patientrenter]

“Are they going to verify income so that buyers can’t game the system like they have been doing so far?”

kev374, you already knew the answer to that question before you asked it. C’mon, own up.

Patient renter in OC

[patientrenter]

“Are they going to verify income so that buyers can’t game the system like they have been doing so far?”

kev374, you already knew the answer to that question before you asked it. C’mon, own up.

Patient renter in OC

[patientrenter]

“Are they going to verify income so that buyers can’t game the system like they have been doing so far?”

kev374, you already knew the answer to that question before you asked it. C’mon, own up.

Patient renter in OC

[patientrenter]

“Are they going to verify income so that buyers can’t game the system like they have been doing so far?”

kev374, you already knew the answer to that question before you asked it. C’mon, own up.

Patient renter in OC

[patientrenter]

“Are they going to verify income so that buyers can’t game the system like they have been doing so far?”

kev374, you already knew the answer to that question before you asked it. C’mon, own up.

Patient renter in OC

[DCRogers]

My sister-in-law just got an FHA loan in rural Michigan… really bad market there, and no-one else was making loans. They were quite picky about all the loan details (being especially careful about tracking down how she got her HELOC paid off so she could refi…)

[DCRogers]

My sister-in-law just got an FHA loan in rural Michigan… really bad market there, and no-one else was making loans. They were quite picky about all the loan details (being especially careful about tracking down how she got her HELOC paid off so she could refi…)

[DCRogers]

My sister-in-law just got an FHA loan in rural Michigan… really bad market there, and no-one else was making loans. They were quite picky about all the loan details (being especially careful about tracking down how she got her HELOC paid off so she could refi…)

[DCRogers]

My sister-in-law just got an FHA loan in rural Michigan… really bad market there, and no-one else was making loans. They were quite picky about all the loan details (being especially careful about tracking down how she got her HELOC paid off so she could refi…)

[DCRogers]

My sister-in-law just got an FHA loan in rural Michigan… really bad market there, and no-one else was making loans. They were quite picky about all the loan details (being especially careful about tracking down how she got her HELOC paid off so she could refi…)

[rocket science]

I am with kev374's observation.
The Senate bill would also lower the FHA down payment requirement from 3 percent to 1.5 percent,
What are these people thinking??They are in trouble so let’s give them even more rope to hang themselves with?And I was thinking that this was only a bailout for the mortgage industry until now.
The fact that they are now making it possible for people who have loans they can not afford to
..refinance into federally insured loans.

Means that when they default, we the taxpayer, will likely be footing part of the bill in the future.

I just hope that the poeple who posted that obtaining these loans is not that easy are right.

I think I am going to go throw up.

rs

[rocket science]

I am with kev374's observation.
The Senate bill would also lower the FHA down payment requirement from 3 percent to 1.5 percent,
What are these people thinking??They are in trouble so let’s give them even more rope to hang themselves with?And I was thinking that this was only a bailout for the mortgage industry until now.
The fact that they are now making it possible for people who have loans they can not afford to
..refinance into federally insured loans.

Means that when they default, we the taxpayer, will likely be footing part of the bill in the future.

I just hope that the poeple who posted that obtaining these loans is not that easy are right.

I think I am going to go throw up.

rs

[rocket science]

I am with kev374's observation.
The Senate bill would also lower the FHA down payment requirement from 3 percent to 1.5 percent,
What are these people thinking??They are in trouble so let’s give them even more rope to hang themselves with?And I was thinking that this was only a bailout for the mortgage industry until now.
The fact that they are now making it possible for people who have loans they can not afford to
..refinance into federally insured loans.

Means that when they default, we the taxpayer, will likely be footing part of the bill in the future.

I just hope that the poeple who posted that obtaining these loans is not that easy are right.

I think I am going to go throw up.

rs

[rocket science]

I am with kev374's observation.
The Senate bill would also lower the FHA down payment requirement from 3 percent to 1.5 percent,
What are these people thinking??They are in trouble so let’s give them even more rope to hang themselves with?And I was thinking that this was only a bailout for the mortgage industry until now.
The fact that they are now making it possible for people who have loans they can not afford to
..refinance into federally insured loans.

Means that when they default, we the taxpayer, will likely be footing part of the bill in the future.

I just hope that the poeple who posted that obtaining these loans is not that easy are right.

I think I am going to go throw up.

rs

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