Administration to Issue More Mortgage Protection Rules

One of the problems that have plagued the United States economy, with ripple effects throughout the world’s financial centers, has been the emerging mortgage crisis, with lenders sometimes giving people mortgages that were too expensive for them to reasonably handle.

In reaction, the Federal Housing Administration (FHA) is now preparing to craft new regulations that will stop people from purchasing homes with mortgages that they are unable to afford, according to a recent report at The Hill.

The FHA has the power to create its own regulations concerning qualified mortgages, separate from the rules that the Consumer Financial Protection Bureau established this January.

Financers and people who are hoping to purchase new homes are eyeing the news of the new proposed FHA regulations with interest, as they will affect the types of houses for which they will be eligible to get a mortgage.

At Avis Lending, we are experience professionals who focus on helping customers navigate the oftentimes complicated world of mortgages. If you have any questions or would like to speak with us about your upcoming mortgage needs, please give us a call or make contact with us through our website. We’re looking forward to hearing from you.

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