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FHA Foreclosures                                                                                                                                 

FHA foreclosures can be an excellent opportunity to build instant equity. Nationally, four percent of all FHA home loans will go into foreclosure because of a loss of a job, divorce, or illness. While these situations are sad, they can be an excellent opportunity for a first time home buyer or a real estate investor looking for a bargain with FHA foreclosures. Email FHA foreclosures questions

Many mortgages are sold to or insured by HUD (the Department of Housing and Urban Development-usually FHA or VA), Fannie Mae, or Freddie Mac. If a homeowner defaults on their FHA mortgage one of these agencies will take title to the property and sell it to the highest bidder. Often these FHA foreclosures bids are completed significantly below market value, creating instant equity for the successful bidder.

Financing these FHA foreclosures is a specialized area of mortgage banking and we have had extensive experience with the FHA foreclosures process. Your FHA foreclosure property may need some rehabilitation or renovation and we offer many loan options on my FHA foreclosures renovation loan page. If you are a real estate investor, I offer many creative loan programs on the investor loans page. If your interest is in purchasing FHA foreclosures with little or no down payment please visit our first time homebuyer programs page for 14 programs requiring 5% down or less.

All of these FHA foreclosures sellers will require you to be preapproved. Frankly, the FHA foreclosures seller does not want to waste time with a bid from a buyer who may not be able to complete the transaction. I offer a free qualification process by completing the form located on the qualification page. we will give you several programs you are qualified for and preapprove you quickly. 

There is also a report on buying FHA foreclosures as an investment available.

For more information go to the FHA Loan Streamline Refinance page.

Read more about FHA Loan Closing Costs

I have included a page on how to calculate your FHA Loan qualification ratios.

I have included a page on FHA Loan documentation requirements.

In 2008, Short Sales are where most of the bargains in real estate are and they are NOT just for investors. Learn more about Short Sales

I also have a report "Buying your First Home" available by email.

Learn more about improving your credit scores

I have an article "Buying your home in 2008" by email explaining negotiating strategy in today's market.

Learn more about Loan Modification. If you can not refinance, it may be the best way to save your home today.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

New! View my Wealthbuilder presentation and learn the safe way to manage your finances and fund your retirement.

FHA ForeclosuresPrequalify for your FHA Foreclosures.

 

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Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.