The Chicago real estate market as seen by a local appraiser
Thursday, December 10, 2009
FHA Sets Aggressive Goals For 2010
FHA has insured nearly a quarter of all new loans made this year and about 80 percent of that business is from first-time homebuyers. The total dollar volume of FHA mortgages exceeded $300 billion dollars in the fiscal year 2009. Approvals for purchases, refinancing and reverse mortgages rose 70 percent increase within the last year. FHA has set even more aggressive goals for Fiscal year 2010, so these numbers are expected to continue to rise over the next year.