Question about New FHA Loans

[Sky1968]

I was just wondering if anyone has had any luck finding a company that is actually doing the new FHA loans and if so what did you experience?

When we went to see our mortgage company Beneficial/HSBC in late September the guy we talked to advised us to wait because HSBC was going to automatically re-write all their mortgages to FHA loans in October. We have tried to find out more information about this and so far we have had no luck. Nobody seems to know anything which is business as usual for this company.

So not wanting to "wait and see" we have tried going to another local bank, CitiFinancial, to see if they are offering the new FHA loans and they were not and did not know when or if they would ever offer them nor did they know of anyone else that is offering them yet in our area (Bowling Green, KY). So now I decided instead of taking the time off work and making another appointment I am just going to 'call around' and see what I find out which seems totally weird to me -

"Hey, yea, I was just wondrin, ya'll got any of those new- fangled FHA loans in yet?"

[Moe Bedard]

This is on the FHA site currently........... at www.fha.gov they will be listing the participating lenders shortly...........


List of Lenders Who Are Participating in the HOPE for Homeowners (H4H) Program

[ez101]

When do you think they will release the list of lenders participating?

[Moe Bedard]

not sure..............we will just have to keep checking the link.........

[Sky1968]

Personally, I think that since mortgage companies and banks are not required to do anything, they will chose to do nothing. So I don't look for that page to be filled-up with any sort of high quality companies if any at all - when did Bush sign this into law again, wasn't it JULY?? Sure is taking a while to get that list together eh?

Sorry, I don't mean to be so negative but I am about at the end of my rope and tired of waiting and hoping. The calvary isn't coming, all hope is lost. Time to pack up and move on. I feel like I have been a hamster in a cage, running and running in that wheel toward my freedom, jumping through all the hoops provided, always trying to be proactive and do the right thing, when all the while a kid is watching me from outside the cage laughing and wondering when I will give up or die trying. I for one am fed up being the ever entertaining hamster!

[gayled1228]

the list is there, the people on it just cant do anything yet. i have been dealing with one of the companies and they are sick that they cant help anyone yet. they said hold on until the change.........terrible that they are there and ready to help but just cant.