HUD homes and FHA loans can be used to enable those with low FICO scores to get adverse credit mortgages. The Department of Housing and Urban Development (HUD) offers insurance on mortgages, and when a homeowner with such insurance is unable to maintain the mortgage repayments, the lender forecloses and HUD pays the balance due. […]
Tag Archive | "HUD homes"
A first time buyer mortgage is no longer difficult to get, but a mortgage with low credit score might take a little more work. However, even bad credit will not prevent a first time buyer getting a mortgage under certain circumstances. Since the subprime mortgage and derivatives meltdown of the latter half of the 2000s, […]