Head of Federal Housing Administration warns against increased home down payment requirement The head of the Federal Housing Administration is warning that boosting the minimum down payment borrowers must provide to qualify for home loans backed by the agency could threaten the ...
<div id="subtitle">But to get it, buyers of businesses and homes must have good credit, equity</div><div><p> Despite all the talk about the frozen credit market, big-ticket loans are available across the Las Vegas Valley — for those who can meet the more stringent ...
<div><p> <em>How does the government takeover of Fannie Mae and Freddie Mac affect mortgage rates?</em> </p><p>Rates for 30-year fixed mortgages fell immediately after the announcement of the takeover. "The 30-year conforming rate dropped from 6.25% to 6% on Monday morning and was ...
<div id="subtitle">A look at the housing rescue plans in Congress</div><div><p>` Comparison of Senate and House versions of housing rescue bill:</p><p>____</p><p>_Both would modify a Federal Housing Administration foreclosure rescue program enacted in 2008 to ...
<div id="subtitle">Senate moves toward easing terms to qualify for government-backed reduced mortgages</div><div><p>Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government.</p><p> ...
<div id="subtitle">Government requests nearly $800 million to aid federal reverse mortgage program for seniors</div><div><p>Falling home prices have forced the government to ask Congress for a $798 million taxpayer subsidy to prop up a program that lets senior citizens tap the equity in ...
<div><h1> STORIES WITH LEGS </h1><p>Two problems first spotlighted by BusinessWeek were back in the news this week. Senator Christopher Bond (R-Mo.) on May 4 called the Federal Housing Administration home mortgage guarantee program a "powder keg that could explode," leaving taxpayers with ...
<div><p>WASHINGTON (Reuters) - The U.S. Congress on Tuesday sent President Barack Obama a housing rescue bill that aims to save 400,000 homeowners from foreclosure and will spend $2.2 billion on programs to aid the homeless.</p><p>Lawmakers have spent weeks trying to hash out ...
<div id="subtitle">Business Highlights</div><div><p>With bankruptcy looming, a new GM begins to emerge</p><p>DETROIT (AP) — With an almost certain bankruptcy filing days away, General Motors is beginning its reinvention, planning to retool one factory to make its smallest vehicles ever in the ...
<div><p>WASHINGTON (Reuters) - The Federal Housing Administration will allow the new $8,000 first-time homebuyer tax credit to be applied directly toward home purchase costs when using an FHA-insured mortgage, the Department of Housing and Urban Development said on Friday.</p><p>The plan to "monetize" ...
