Articles Tagged With: FHA Counseling

March 22, 2011

FHA Loan Facts on Title I Loans for Manufactured Homes

FHA home loans aren’t just available for traditional suburban houses; the FHA also insures loans for manufactured housing. Just as with FHA loans for traditional homes, the FHA insures or guarantees the loan rather than providing the loan itself. The FHA guaranty makes qualified borrowers more attractive to lenders willing to issue the loan. FHA Title I loans for manufactured homes can be used in one of three ways–to purchase the home itself, to purchase a lot for a home already owned or to be purchased, and the Title I loan can also be used to buy a manufactured home and lot in combination. The FHA has different loan terms depending on the nature of the Title I loan. Maximum loan amounts for the home only are just under $70 | more...

March 11, 2011

FHA Advice: Don’t Pay For Foreclosure Avoidance Counseling

By Joe Wallace

There are many ads on television by private companies offering debt counseling services. But when it comes specifically to foreclosure avoidance, did you know you do not have to pay for counseling services? According to the FHA official site, “Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and NeighborWorks

March 3, 2011

Should I Pay For FHA Loan Counseling?

By Joe Wallace

If you have an FHA loan and are trying to avoid foreclosure, the FHA recommends contacting the agency to be put in touch with a counselor that can help. The same goes for first-time home buyers; the FHA can put newcomers to the FHA insured mortgage loan process in touch with a local counselor who will guide them through credit prep, the loan process itself and what to do once a suitable home is found. There is even counseling help available for seniors, and for people facing homelessness. The FHA advertises these services on its official site, saying “Want advice on buying a home, renting, default, foreclosure avoidance, credit issues or reverse mortgages? HUD sponsors housing counseling agencies…search online for a