I posted an article here the other day saying FHA would be announcing changes.  Here is a blog post outlining those changes. FHA has announced changes to their lending policies.  Thanks to Jose Humaran for the post outlining these changes. http://tinyurl.com/ye7k2rn

Supposedly 1 out of every 5 FHA borrowers are either behind on their payment or facing short sale or foreclosure.  With more and more home buyers looking to finance their purchase with FHA loans, the process and the requirements needed to be tightened to help ensure that FHA will continue to have money to lend to these borrowers.