January 26, 2011
With home foreclosures still in the news even several years after the housing crisis of 2008, we’ve written a fair amount on topics related to foreclosure on FHA home loans. Default and foreclosure are often preventable if the buyer takes action early; in some cases a simple bit of additional information is the only thing a borrower needs to take the right action to save the home.
Missing one FHA mortgage loan payment isn’t good, but it is not the end of the world if the buyer contacts the loan officer and the FHA to discuss next steps.
Bruce Reichstein has spent over three decades as an experienced FHA and VA home loan mortgage banker and underwriter where he was responsible for funding “Billions” in government backed mortgage loans. He is the Managing Editor for FHANewsblog.com where he educates homeowners on the specific guidelines for obtaining FHA guaranteed home loans.
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