FHA Tightening Standards on Zero-Down Loans


Manage episode 233076512 series 2394432
By Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio streamed directly from their servers.
The government is cracking down on affordable housing programs that help buyers with their down payments. HUD issued a clarification letter on the rules for FHA loans. The crackdown is the result of growing concern about the risk that zero-down government-insured home loans present to the $1.3-trillion-dollar mortgage insurance fund. Historical data shows that those borrowers are twice as likely to default on their loans. www.NewsForInvestors.com

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