NLIC.org

Melinda Said:

FHA has permitted what kind of refinances on insured mortgages since the early 1980's?

We Answered:

is this a trivial question?

you can do rate/term and cash out refinances.

Beatrice Said:

Do FHA or any of the gov't insured loans require PMI private mortgage insurance?

We Answered:

Pretty much any loan where you are putting down less than 20% of the purchase price will require PMI.

Kristen Said:

FHA loan underwriter?

We Answered:

3 days maximum in underwriting..all the other stuff is waiting for insurance and appraisal and etc...soemthign is wrong with what tehy are doing...or something you have needs further verif...

Thomas Said:

my fha mortgage is not insured - what do i do?

We Answered:

Are you talking about Mortgage Life/disability/critical illness insurance, don't bother getting it through a bank or lender. You are far better off getting term insurance from a lisensed insurance broker.

Here is a link explaining the differences:
http://www.asset-aid.com/bank_vs.shtml

Here is also a link to a 30 minute TV special that talks about how mortgage insurance through banks doesn't always pay out and it also recommends individual term insurance:
http://www.cbc.ca/marketplace/in_denial/

you can also google search something like "Term insurance vs. Mortgage insurance" or "Term vs. creditor insurance". I have personally NEVER found a single resource that promotes mortgage insurance over term insurance.

as far as whether you should go with someone else or not, that is totally up to you. My personal opinion is that if I'm not happy with dealing with a company and they don't seem to appreciate your business, go somewhere else. The great thing about a capitalistic society we live in now is there there are TONS of options so if you aren't happy with one, you can check out another.

Maureen Said:

Is CitiMortgage FHA insured?

We Answered:

they do FHA VA and conforming loans for real estate
I am a mortgage banker in TN & KY

Maxine Said:

Assumability of FHA Mortgages and release of liability?

We Answered:

All FHA loans are assumable, but many years ago they changed it so that the new borrower must qualify and you were still held liable if they went into default. I have been a mortgage broker, real estate salesman for 25+yrs and can tell you that you are getting some bad info, if you want to IM me we can discuss it further