SOURCE: Mortgage News Feed
Mortgage borrowers may now qualify for an FHA mortgage under new guidelines established by the Department of Housing and Urban Development (HUD), according to Eli Younes of Viking Realty Group in Pembroke Pines on Tuesday. As a result of the housing collapse, many homeowners experienced a serious reduction in income or lost their jobs due to the crumbling economy. Some mortgage borrowers were forced to file bankruptcy or short sale their home to avoid foreclosure. Others were not so lucky and lost their home on the courthouse steps.
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