October 2008
Foreclosure Wiki: Foreclosure, REO, bank-owned terms glossary
October 7, 2008 by David Patterson · Leave a Comment
203(b):FHA’s single family program which provides mortgage insurance to lenders to protect against the borrower defaulting; 203(b) is used to finance the purchase of new or existing one to four family housing; 203(b) insured loans are known for requiring a low down payment, flexible qualifying guidelines, limited fees, and a limit on maximum loan amount. [...]
