The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: CalculatedRisk who wrote (224884)	10/15/2009 7:35:43 AM
From: SouthFloridaGuy	Read Replies (1) of 306849

To all: Does anybody have statistics on FHA loan delinquencies versus Non-FHA? I keep hearing that FHA is too loose, but I have gone through the FHA process in the past. It's pretty rigorous and they will not give you a loan if your payments exceed a certain the 1/3 gross income threshold. It's not like these are no-doc or option-arm loans. Plus, what's wrong with the FHA making the bulk of loans in areas down 40-60% - which appears to be the case? The only thing that the FHA does is give loans to people with lower credit scores and favorable downpayments (with substantial penalty and still has to be within monthly income threshold). But this can happen for many legitimate reasons. I recently had a traffic ticket go to collections, and I didn't find out about it until after the fact. It lowered my credit score by 100 points and I don't qualify for any non-government loan as a result. I am in the process of disputing my credit report, but still, what a crock!

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next