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FHA insured

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FHA insured

A single-family or multifamily mortgage loan that is insured by the Federal Housing Authority. If the borrower defaults, the FHA will either pay the lender the insurance proceeds, up to the balance remaining on the loan after foreclosure, or it will pay the loan in full and take an assignment of the collateral.



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If you have a FHA insured loan, you can get a home modification but not through the Making Home Affordable plan.
Generally, FHA insured loans have had lower down payments and easier points of entry for borrowers and the agency often seemed sidelined during the previously rapidly growing housing and mortgage markets.
In his testimony, Donohue said the volume of single-family FHA insured loans tripled in fiscal year 2008.
 
 
 
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