Is that true?
No it's not. I had an FHA loan on my last house. It was locked in like any conventional loan.
1) No down payment required for qualifing buyers.
I made a down payment albeit minimal and paid closing costs.
IF the FHA home buyer is in good standing when they sell their home & they sell it at a profit, that profir belongs to the seller & not the FHA.
Right again!
that'd be the FHA. ...a.ka the taxpayer.
Right again. If you have ever known anyone who has been foreclosed by FHA, I guarantee they are total deadbeats. The FHA does not want to be in the real estate business. If you work with them, they will work with you. I was in pretty desperate straights. However, I had the home up for sale, the property was clean and well tended and no one gave me any grief.