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FHA, there is no other way

Thursday, April 25, 2013 - Article by: First Bank - First National Bank Southwest - Message

FHA There is Just No Other Way!

Ever walk into a store and they say they are out of the nationally advertised product? However if you try this comparable product you will be more than satisfied and you will actually pay less.

Today's mortgage lenders just do not have anything to offer folks with credit hangups and do not have 20% readily available to put down on a new home. Our government founded FHA for those folks and was built for folks who are trying to finance a home who's primary concern was to get a roof over their head and they are being told no more often than yes. It has become the sub-prime means of lending.

Didn't our President recently just ask the congress to do something about the FHA chances and demand a reconstruction of guidelines so the housing slump will ignite. Well since the implosion of our mortgage debacles, I have a solution for the CFPB > Consumer Financial Protection Bureau, raise the rate and lower the requirements, the bank wins, the consumers win, its a a win-win situation. Congress by raising required Mortgage insurance you are leading the consumer with a guilty by plea before they even get qualified and that is another story all together. So write your congress and tell them that you are not the only one with out a home but would like one before they retire and move to their next job. Since they gave everyone before you the chance and they fouled it up. Why?

Everyone needs a home and FHA might be their only alternative.


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