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You've probably heard on the evening news, the news and opinion shows and the morning shows about a possible or impending "FHA bailout." That's a scary headline to first time home buyers and anyone watching the housing market. A lot of talking heads on TV are calling for blood when it comes to the FHA, as they look to spread the blame somewhere, anywhere when it comes to the current housing market. There's just one problem: the facts get in the way of a good story. With nearly 30 years experience in the mortgage and housing market industry, Mark Jones has seen a lot of change. With that level of experience, Jones is a good source of wisdom and opinion on the current market and where it's headed next. Jones is also the co-founder and president of AmeriFirst Home Mortgage.
Mortgage Minute TV recently sat down with Jones to get the inside track on a possible FHA bailout, and where the market sits in the cycle at this point. Jones says the current market is due to an "old book of business" that was re-written after the 2005-2008 mortgage meltdown. The current market is a direct result of that 3-year span of bad loans and skyrocketing unemployment, according to Jones. He also says we're "in the 3rd quarter" of the mortgage mess. While there are still some struggles ahead, we can see the "end of the game, and we haven't lost yet."
Watch the video below to hear from AmeriFirst president Mark Jones on the FHA bailout question. You can also click here - AmeriFirst and an FHA Bailout: The Real Story
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