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HUD Website Great Resource For Homebuyers.
Those of us in the Real Estate Industry, all recognize that FHA is one of the main Loan Products right now for a Buyer to consider.  FHA is HUD"s Federal Housing Administration arm which insures mortgages for Lenders/Banks.  FHA insured Loans presently offer Borrowers Loan Programs with Lower Downpayment, and more flexible underwriting guidelines, than Fannie Mae, or Freddie Mac (Conventional Loans) Loan Products.  What many are not aware of is that HUD is also a great resource for information on mortgage and housing related issues.
The HUD website www.hud.gov is and easy way to find out about all of the Loan Products offered through HUD/FHA, but equally important it offers perspective Buyers great adice on what to watch out for when obtaining a mortgage.  There are four links on the HUD website that I feel Borrowers should read to learn about their rights, mortgage contracts, and how to look out for scam artists and predatory lenders:
The four HUD website links are:
Borrower's Rights:  HUD gives a complete list of those rights on this link. Predatory Lending:  HUD suggests a number of ways to protect yourself from Predatory Lending/Loan Fraud Predatory Lending Resources:  A list of local resources that can ... more

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