Tuesday, April 14, 2009

How can I apply for a federal government mortgage?

I keep hearing of these mortgages that congress is offering as a resut of the housing market crash. But where do you go to apply for one? That's the problem with alot of these government programs. They're there, but most people dont' know how to access them.

Thanks!


I'm not sure where you heard that Congress authorized mortgages. It did not, to my knowledge.

You can always apply for a FHA loan, VA loan, or similar, but those have been around a long time.

There are no such things as a federal government mortgage. The federal gov't does not engage in direct lending.

There are mortgages that are insured by FHA and if you are a veteran, by the VA.

I would start there. Any reputable bank would have access to these.

Go to HUD.org and down load the application. And chose from the foreclosures.

There are government backed programs, but the government is not in the business of lending money.

Contact a reputable lender in your area who can review your options.

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