Florida Real Estate News - 04/18/07
FHA
In testimony before a U.S. House committee yesterday, HUD officials said that a modernization of HUD’s FHA lending program would help many homeowners who find they can no longer afford their subprime ARM mortgage payments.
MORTGAGES
Turmoil in the mortgage market is ensnaring more companies who lend to people with decent credit, the so-called Alternative-A mortgage sector, which offers loans to people with credit that’s better than subprime borrowers but not quite as good as prime.
FORECLOSURES
More South Floridians are falling behind on their monthly house payments, raising fears that a rising number will lose their homes to foreclosure this year and next. Analysts note that late home loan payments in Broward and Palm Beach counties increased in each of the first three months of 2007.
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