FHA Loan Limits To Decrease On October 1, 2011 FHA will implement new single family loan limits as specified in the Housing & Economic Recovery Act of 2008 (HERA). As a result, FHA loan limits will be reduced in approximately 669 counties across the country, out of a total of 3,334 jurisdictions in which FHA insures home loans. The Housing and … [Read more...]
Negative Amortization 101
Is There Ever a Good Reason for a Negative Amortization Loan? The term “Amortization” refers to the elimination of debt over a period of time with regularly scheduled payments. A mortgage is calculated by using the loan amount, the interest rate and the numbers of years to pay back the loan. When you make a monthly mortgage payment, a portion covers the … [Read more...]
