FHA Loan Guide Reaches 1,000 Downloads
The free FHA Lending Guide presented by the Mortgage Loan Place has been downloaded one thousand times, as of Monday. The comprehensive guide on FHA Loans is designed to educate consumers about all steps involved with the lending process.
(PRWEB) July 25, 2007 -- The free FHA Lending Guide presented by the Mortgage Loan Place has been downloaded one thousand times, as of Monday. The comprehensive guide on FHA Loans is designed to educate consumers about all steps involved with the lending process. It includes detailed explanations about the FHA, step-by-step instructions to obtaining a loan, and information about alternate lending options and other FHA programs.
FHA loans, which are insured by the Federal Housing Administration, are expected to experience a resurgence in coming months as a result of pending modernization legislation and troubles with the sub prime lending market.
The reforms to FHA loans would include higher loan limits, no down payments, and risk based mortgage insurance. The creation of the guide by the Mortgage Loan Place was in conjunction with the FHA's recent push for consumer education.
"The guide has been a great success because, in today's market, the most important factor in effective lending is education. Consumers need to understand all aspects of their loan before making a large investment. It's our hope that educational efforts like this one can counteract the negative impact that has been created by the sub prime bust," said Bryan Rahn, lead editor of Mortgage Loan Place's Lending Guide.
The "sub prime bust" refers to the high number of sub prime foreclosures that began in late 2006 and are expected to continue until early 2008. This sharp rise in foreclosures is a result of adjustable rate mortgage rates rising after a few years of initial stability. The practices leading up to the bust are largely considered predatory and have recently come under intense scrutiny.
ABOUT MORTGAGE LOAN PLACE - Mortgage Loan Place is an online resource for potential home buyers providing information and updates on a variety of home loan products. For additional information on the FHA Guide, contact Mr. Rahn or visit the website.
A copy of the complete guide is attached in PDF form. The guide can also be downloaded for free.
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