The Federal Housing Administration announced on March 6th 2012 that it would reduce mortgage insurance premiums for certain homeowners to refinance and take advantage of the lower market rates. Qualifications are:
This new FHA program will be available starting June 11, 2012. Call me today get your refinancing started! A full mortgagee letter can be read here.
Here are the highlights of the upcoming Home Affordable Refinance Program (HARP) 2 (program designed to help underwater homeowners to refinance):
If neither FNMA nor FHLMC owns your mortgage, call the U.S. Department of Housing and Urban Development (HUD) at 800-569-4287 or visit HUD approved counseling agencies for FREE consultation.
Some pointers regarding HARP refinancing:
Rates are at historic low. Thinking about refinancing? There are 2 types of refinancing; a) Rate-and-Term refinancing and b) Cash-out refinancing. Here are 6 items that you should consider for refinancing:
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