FHA Buy and Bail Exceptions HUD-4155.1 REV-5, paragraph 1-2 Principal Residences Question 50: If my principal residence is currently covered by an FHA-insured mortgage, can I purchase another principal residence with an FHA-insured mortgage? Answer: Only under the following situations described below: a) Relocation – Relocating to another area not within a reasonable […]
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Browsing Posts tagged FHA guidelines
FHA monthly mortgage insurance is going up. Staring on April 18, 2011, the amount you pay for monthly mortgage insurance on an FHA loan is going up by .25%. The box below shows how this increase will impact a typical FHA Loan. Current FHA Monthly Mortgage Insurance FHA Monthly Mortgage Insurance After […]
FHA Buy And Bail Guideline Update: January 24, 2011. How lenders interpret FHA guidelines. On September 19, 2008, FHA issued MORTGAGEE LETTER 2008-25 which can be viewed here . It is also listed on this site here. The purpose of this letter was to address what is commonly referred to as a Buy and Bail […]
