Canadian
01-20-2010, 04:45 PM
"The agency, which insured nearly a third of new mortgages in 2009, will increase the premium it charges for its mortgage insurance and require those with weaker credit scores to come up with larger downpayments.
The FHA will also reduce the amount of money a seller can provide a homebuyer for closing costs, as well as tighten its enforcement of lenders.
"
http://money.cnn.com/2010/01/19/real_estate/fha_loan_requirements/index.htm
This is getting interesting :). It's going to get really ugly for housing in Canada, when similar rules are implemented here.
The FHA will also reduce the amount of money a seller can provide a homebuyer for closing costs, as well as tighten its enforcement of lenders.
"
http://money.cnn.com/2010/01/19/real_estate/fha_loan_requirements/index.htm
This is getting interesting :). It's going to get really ugly for housing in Canada, when similar rules are implemented here.