FHA changes coming 04/01/2013

[SmartMoney]

And the link you provided (High Delinquency Rates Force FHA) is part of the shell game HUD has been playing. It's in their best interests for everyone to believe they are bleeding badly. Your chart proves my point, delinquencies and defaults are improving, cut in half since 2010. And FHA loans have always been a very small part of the defaults we have seen. FHA defaults represent maybe 1 in 20 that I run across. Almost all were IO or neg am or no doc loans.

Take a look where we were in 2010 by the very same report. Quite an improvement and now we are suddenly seeing a need to raise rates? They are funding multi family housing projects on the backs of single family loans.

http://portal.hud.gov/hudportal/docu...=DOC_16575.pdf

[Jersey25]

Let me get this straight cause my mortgage originator told me something else. If my FHA Case number get's pulled before June 3rd, 2013, than the monthly MIP will not be for the life of the loan?

Because if I do an FHA with 3.5% down I can get a 3% Lender Credit which can go to closing costs and if I do a Conventional with 5% down than there is no lender credit and I have to use my money to pay for closing costs so I would rather do an FHA instead of spending another 8000 dollars out of savings.