years and gave loans to individuals who otherwise could not qualify for a loan any other way. The fact that foreclosure rates are up during the boom era of sub-prime lending is not the fault of the sub-prime industry itself. Foreclosure rates on sub-prime loans are actually not as high as many are reporting. It The FHA was established to help out those in need of housing in the year of 1934. Since its inception it has managed to help out millions of home purchasers tallying up to 34 million homes.

Since 2000, the FHA loan program has fallen out of favor with many Americans due to certain qualifications and loan limits thus driving up the sub-prime loan market. The FHA has recognized that the current sub-prime market has made the foreclosure rate in America rise and is now prepared to make the necessary changes fight this sudden rise in foreclosures.

In 2006, the FHA gave out advice and guidance to close to 1.6 million households. This advice included information regarding foreclosure procedure, refinancing their current loan into a FHA loan, and working out payment plans to avoid foreclosure.

The fiscal year of 2007 will see the FHA program receive $41.58 million to help out the thousands of homeowners facing foreclosure and delinquency with advice and counseling. This funding will help with counseling services including loss mitigation and other tools to help these homeowners modify their loans or even refinance their loan to help out with high interest rates.

The sub-prime market helped out many individuals throughout the years and gave loans to individuals who otherwise could not qualify for a loan any other way. The fact that foreclosure rates are up during the boom era of sub-prime lending is not the fault of the sub-prime industry itself. Foreclosure rates on sub-prime loans are actually not as high as many are reporting. It i

its thus driving up the sub-prime loan market. The FHA has recognized that the current sub-prime market has made the foreclosure rate in America rise and is now prepared to make the necessary changes fight this sudden rise in foreclosures.

In 2006, the FHA gave out advice and guidance to close to 1.6 million households. This advice included information regarding foreclosure procedure, refinancing their current loan into a FHA loan, and working out payment plans to avoid foreclosure.

The fiscal year of 2007 will see the FHA program receive $41.58 million to help out the thousands of homeowners facing foreclosure and delinquency with advice and counseling. This funding will help with counseling services including loss mitigation and other tools to help these homeowners modify their loans or even refinance their loan to help out with high interest rates.

The sub-prime market helped out many individuals throughout the years and gave loans to individuals who otherwise could not qualify for a loan any other way. The fact that foreclosure rates are up during the boom era of sub-prime lending is not the fault of the sub-prime industry itself. Foreclosure rates on sub-prime loans are actually not as high as many are reporting. It

households. This advice included information regarding foreclosure procedure, refinancing their current loan into a FHA loan, and working out payment plans to avoid foreclosure.

The fiscal year of 2007 will see the FHA program receive $41.58 million to help out the thousands of homeowners facing foreclosure and delinquency with advice and counseling. This funding will help with counseling services including loss mitigation and other tools to help these homeowners modify their loans or even refinance their loan to help out with high interest rates.

The sub-prime market helped out many individuals throughout the years and gave loans to individuals who otherwise could not qualify for a loan any other way. The fact that foreclosure rates are up during the boom era of sub-prime lending is not the fault of the sub-prime industry itself. Foreclosure rates on sub-prime loans are actually not as high as many are reporting. It

and delinquency with advice and counseling. This funding will help with counseling services including loss mitigation and other tools to help these homeowners modify their loans or even refinance their loan to help out with high interest rates.

The sub-prime market helped out many individuals throughout the years and gave loans to individuals who otherwise could not qualify for a loan any other way. The fact that foreclosure rates are up during the boom era of sub-prime lending is not the fault of the sub-prime industry itself. Foreclosure rates on sub-prime loans are actually not as high as many are reporting. It

years and gave loans to individuals who otherwise could not qualify for a loan any other way. The fact that foreclosure rates are up during the boom era of sub-prime lending is not the fault of the sub-prime industry itself. Foreclosure rates on sub-prime loans are actually not as high as many are reporting. It is reported that only fourteen percent of all home loans are sub-prime and only thirteen percent of those are delinquent.

This does not mean that the sub-prime market can't be helped out by the FHA. With an estimated 2.2 million sub-prime borrowers set to lose their homes or will lose their home in the next several years gives the FHA reason to step in. Sub-prime interest rates have been known to be as high as ten percent, but with a FHA refinance these individuals could lock in a much more cost effective loan.

Refinancing into a FHA refinance on a $200,000 loan that an individual could save close to $3,000-$4,000 in the first year of a refinance. This option has already been saught out by more individuals the first quarter of this year as opposed to last year by nearly ninty-four percent. The FHA is set to endorse a record number of loans totaling up to 100,000 for the year.