...Despite outside aid, woman stuck with mortgages likely to lose homeDurham News, NC -18 hours agoShe has contacted Wells Fargo, which holds Cannady's first mortgage, and asked them to give Cannady a fixed-rate mortgage instead of the adjustable rate. As stated earlier, FHA mortgage is a way for homebuyers to obtain financing for their homes. All home purchases require buyers to make a certain set percentage of the total purchase price, called the down payment. What the FHA mortgage insurance does therefore is to allow a homebuyer to make a modest down payment and obtain a mortgage for the balance of the purchase price.
