Some good news for homeowners as the Senate voted yesterday to approve a measure that would restore the high balance conforming loan limit to $729,750 in high cost areas. The amendment was added to a spending bill by Senator Robert Menendez and was approved 60-31 in the Senate. If the larger spending bill is approved, [...]

The Federal Housing Administration (FHA) was established  to improve housing standards and conditions and to provide financing of homes  by insuring mortgages. Families that would otherwise be excluded from the housing market were finally able to buy the homes of their dreams by the backing of FHA (HUD) insured mortgages. Today FHA insures thousands of mortgages for [...]