FHA Myths

FHA loans will account for nearly 50% of the loans in the US over the next 12 months. Many myths surround the FHA mortgage. But, more and more, I see people choosing this loan because it offers some flexibility not found in the conventional market.

A few years ago, very few mortgages were FHA because the subprime market looked more attractive. Well, subprime lending is gone. And FHA has stepped up to rescue the borrower who may need a little extra help.

Matt Eversgerd, of First Integrity Mortgage Services, has put together a small list of FHA myths. I highly recommend Matt to my clients. He can be reached at 314 620 7227.

Please see the link below for more information.

R

FHA%20Myths%21%21

Greenspan says the U.S. housing market will recover -- soon!!

I'm beginning to feel signs of a recovery in the market. Things have been slow, but I've got people looking for houses in the St. Louis area. Moreover, Nolting Real Estate's listings are selling. Former Federal Reserve chairman Alan Greenspan said the U.S. housing market will begin to recover in the first half of 2009, according to an article he wrote for Emerging Markets magazine published on Friday.

The rate of decline in U.S. home prices is the first positive note in the year-long trauma and that eventually, frozen credit markets will thaw "as frightened investors take tentative steps toward reengagement with risk."

"More conclusive signs of pending home price stability are likely to become visible in the first half of 2009," he wrote. In yesterday's post, I noted that pending home sales are up.

There is a light at the end of the tunnel.