WASHINGTON — A federal housing agency said Friday it needs a $1.7 billion bailout from the Treasury to cover projected losses in a mortgage programs for seniors. At issue are reverse mortgage programs, which allow seniors to borrow against their ...

Tagged with: Banking Congress federal housing administration housing loan loans Real Estate treasury department

WASHINGTON — The House has approved a bill giving the Federal Housing Administration the power to make quick fixes to its financially-troubled reverse mortgage program. The measure lets the agency make changes to the program using mortgage letters rather than ...

Tagged with: federal housing administration Foreclosures Real Estate real estate news

With all the political talk about reinvigorating and protecting the middle class, the government’s most venerable program for first-time homebuyers — that run by the Federal Housing Administration — may be on the verge of getting a little bit more expensive to use.

Tagged with: federal housing administration fha homeowners Real Estate Robert Nusgart

In a move that could wrap up more than 17 years of legal wrangling over fair housing options in Baltimore, the U.S. Department of Housing and Urban Development and the city housing department have filed a proposed settlement agreement of a class action by public housing residents.

Tagged with: andrew d. freeman class action federal housing administration lawsuit public housing Settlement

NEW YORK — Bank of America is providing mortgage relief to about 200,000 homeowners. Homeowners that qualify are those whose home values have fallen below what they owe on their mortgages. Bank of America will reduce the amount owed by ...

Tagged with: Bank of America Banks fannie mae federal housing administration freddie mac homeowners homes mortgages

Since the mortgage meltdown four years ago, the Federal Housing Administration has been the last refuge for those home buyers who could only afford a small down payment to get into a home. It was the last refuge for home ...

Tagged with: bailout Congress federal housing administration fha mortgage premiums Robert Nusgart savings

WASHINGTON — The Obama administration is making it easier for out-of-work homeowners to stay in their homes, as it tries to revamp its signature but troubled foreclosure-prevention programs. Starting Aug. 1, the Federal Housing Administration will extend the forbearance period ...

Tagged with: Barack Obama borrowers Economy federal housing administration foreclosure Foreclosures housing Unemployment

A mortgage is one element of total household expenses, such as taxes and heating costs, that is likely to increase over time. It’s important to consider increases in household expenses in addition to your mortgage payment. It’s important to arrive ...

Tagged with: federal housing administration finance Gary S. Williams housing loan mortgage property taxes

In the last 10 days, it has become apparent that homeownership in the U.S. will be more of a privilege than a right in the coming years. Last week, the Obama administration released its thoughts on how to deal with ...

Tagged with: fannie mae federal housing administration Foreclosures freddie mac homeownership lenders mortgage Robert Nusgart

A former homeowner cannot undo a foreclosure sale based on her government-insured lender’s failure to comply with HUD-required loan mitigation efforts in the absence of fraud, Maryland’s top court held Thursday. The unanimous Court of Appeals said people in foreclosure ...

Tagged with: federal housing administration foreclosure fraud gmac hud loan maryland maryland court of appeals u.s. department of housing and urban development