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FHA is a shortened word that stands for the Federal Housing Administration and was created by the congress in the year 1934. FHA Loan is the loan insured against non-payment by the FHA. Because of the guarantee by the FHA, lenders are prepared to collect large mortgage loans. The FHA loan is made for anybody who has a decent credit history. FHA makes it easy for qualified lenders get a mortgage loan to purchase their home. FHA mortgage insurance gives lenders protection against loss, if a FHA homeowner defaults on their loan, the FHA uses collected insurance premiums to pay off the mortgage. FHA loans are mortgages obtained with the help of the FHA. The actual loan is made by a private lender while the FHA insures it.

Mortgage Calculator will help you to understand more about your FHA mortgage loan. It values the amount of loan you get and estimates on the amount of your monthly payments. The limits vary for each state, and you are allowed to make a down payment of as little as 3 % of the calculated purchase price of your desired home and finance the closing costs with your mortgage loan. Online calculator also shows that the interest rate is often lower than other types of loan and it is not negotiable. The limit of loan for a single family FHA home differs by region.

Whose allegedly behind the mortgage crash

2010-10-26 22:02:47 by 2bbcats

Hey folks things are crazy. There's an article from Life Magazine 1967 the Brazen empire outlining who'd be setting decent folks up in Preditory loans. This thing was launched and many agencies & officials nationwide played along. Youtube has a story entitled "DECEPTION" Whose allegedly behind the mortgage crash. I know this is going to make a great movie. Martin Scorcesse could play the guy who set this up. It appears folks have been lied to about what really happened and why folks are angry about the economy, businesses and foreclosures. The authorities who run financial institutions and agencies had to know

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  • Avatar bag-ten In 2003 what did FHA Reverse Mortgages pay in interest on unused available cash?
    Jul 31, 2006 by bag-ten | Posted in Personal Finance

    In 03 the economy came back like gangbusters. Did money that seniors had in reverse mortgage equity reserves also benefit from rapidly rising rates? Did those rates go up and by how much? Or did they even go down?

    • Bag-Ten, The reverse mortgage equity reserves or lines of credits grow at the same rate as the interest being charged against the borrower including the FHA mortgage insurance payment of .5% a year. So to figure out what someones line of credit growth rate was at any time you have to know what the current interest rate is being charged. FHA reverse mortgage interest rates are tied to the 1 year Treasury Bill plus 1.5%. In 03 the average T-Bill was around 1.25%. So to figure out what the return was in 03 for a reverse mortgage line of credit you would figure 1.25%(T-Bill) + 1.5%(Interest rate) …