FHA to Sell Off More Delinquent Home Loan

By
Real Estate Agent with Property Executives Realty


The U.S. Federal Housing Administration is almost doubling an effort 
first announced last month to sell off thousands of delinquent home 
loans.

The U.S. Federal Housing Administration said recently that it would start taking bids from investors for a program intended to sell off thousands of delinquent home loans, as it is almost doubling an offering first announced last month.

 

The FHA, which protects lenders against borrower defaults, said it would take applications for 9,000 mortgages that are scheduled for bulk sale as early as September, up from the original goal of selling 5,000.

A majority of the loans are located in four metropolitan areas hit particularly hard by the housing boom and bust: Chicago, Phoenix, Tampa and Newark.  More than 710,000 FHA-backed mortgages are in default, or about 9 percent of the loans the agency insures. In all, it backs an estimated $1.1 trillion in mortgages.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Industry
Location:
Wisconsin Saint Croix County Hudson
Tags:
jeremy cudd
bank owned homes
short sales
property executives realty
realtors hudson wi
real estate hudson wi
fha

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the printer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the leaf to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the camera to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
64,125

Jeremy Cudd

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clip to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: