E-LOAN to Offer FHA Loans
|March 27, 2008|
E-LOAN will start offering federally insured Federal Housing Administration (FHA) loans to consumers as part of a response to the tightening credit market.
“Unfortunately, we are seeing an unprecedented number of homeowners being forced to foreclose on their homes because they cannot afford their newly adjusted mortgage interest rates,” said Mr. Lefanowicz. “For many, the flexible guidelines and competitive rates of these FHA mortgage loans will mean the difference between losing their homes and being able to keep their piece of the American dream fully alive.”
With home values declining across the country and access to credit increasingly difficult to come by, many Americans are finding FHA home loans to be the perfect loan option for the following reasons: