A simple story from an FHA borrower: My family and I were wanting to buy a new house. We had been saving for a few years and had been living below our means just so we would be able to purchase a house that we all loved. We really wanted to get an FHA loan since they were so popular with first time home buyers like us. That type of loan was insured by FHA, the Federal Housing Administration. That meant that the bank took less of a risk loaning to us in case we defaulted on the loan. Not … [Read more...]