FHA Has Problems According to CBS Report

November 30, 2009 by Eleanor Leave a Comment

This news report last night on CBS about FHA was interesting!

FHA / HUD does not make loans, they only insure them. It’s one of the BEST programs available to first time home buyers! Yes, there are people who are defaulting on loans… at a rate of around 9%… But that’s roughly what Un-employment is right now.

This is not an underwriting problem, meaning just tightening the underwriting guidelines will not make the default rate for FHA Mortgages go down! We need more jobs!

If you want to learn more about FHA Mortgage Loans – please call Eleanor and Steve Thorne, Corporate Investors Mortgage Group, 919-649-5058

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About Eleanor

I see myself differently than most loan officers in the Cary/Raleigh market. As a rare Cary native, I see myself as an expert on the area, on mortgage industry changes & factors that effect rates! I've lived in Cary since 1968 - and I'm second generation "mortgage." I work with my husband, Steve Thorne Mortgage Loan Originator #60596 River Community Bank, N.A., NMLS #448992 Equal Housing Lender More About Me