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Tag Archives: home ownership

Homeowners eligible for FHA loan program

BILOXI — Biloxi residents learned this week about an FHA loan program that will let them borrow up to $271,050 to buy, refinance or improve their homes. The Sun Herald reports the Federal Housing Administration 203(k) loan program is designed to rehabilitate the nation’s older homes. Bo Smith, a mortgage financing expert from Jackson, says many of the homes in ...

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State's foreclosures up 27 percent over prior quarter

ACROSS MISSISSIPPI — Nearly 600 Mississippi homeowners reached the end of the line during the third quarter, losing their homes to foreclosure. That’s according to Irvine, Calif.-based RealtyTrac, which tracks foreclosure actions nationwide. RealtyTrac said 1,069 properties were targeted for some sort of foreclosure action from July through September. Of those, lending institutions took back 583 and the other 486 ...

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FHA hiking insurance fees on mortgages

WASHINGTON — Sizing up the true cost of buying a home can be complicated. On top of the home’s list price there are numerous fees and financing costs to factor in. To complicate matters, the Federal Housing Administration is now hiking the insurance fees for the mortgages it backs. FHA loans are generally used by first-time home buyers and require ...

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Home buyer's grant program nears deadline

JACKSON — A limited-time grant program overseen by Mississippi Development Authority (MDA) aims to help every qualified Mississippian own a home, but the application deadline is quickly approaching. The Home Buyer Advantage program is authorized through the U.S. Department of Housing and Urban Development (HUD) and provides one-time down-payment assistance grants for individuals buying foreclosed property in Mississippi. Grants range ...

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