Lending Education at its Finest – UPDATED
No matter how bad the sub-prime market gets, some people really are not willing to give FHA a fair shake. Upon doing a Google news search today I happened across an article entitled “Don’t Get an FHA Loan” “FHA or Conventional”.
Obviously this guy wants people who read this to say NO to FHA. Every single mention of FHA loans are positioned negatively in relation to conventional loans. At the very end he mentions that “FHA loans are good for some borrowers in certain situations.” However, neither these borrowers nor these situations are ever mentioned. The entire article up to that point only points out the negative things about FHA loans. Sure, I think FHA has some areas that need to be fixed – that is precisely why I support modernization! But there are also lots of great things about FHA loans that deserve mentioning in an article that is a shamelessly one-sided sales pitch comparison.
UPDATE: As the author of this article pointed out to me, he does have a supply of helpful FHA information on his site that can be accessed via his sitemap. That being said, I still found the article incredibly one-sided and if I were a borrower who had come across that after searching for “FHA loans” I would have looked no further because no positive merits of FHA were mentioned in the comparison. On the whole, his site does present both sides of the issue, but definitely not in that article.
