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FHA and Prepaid Interest Charges

March 30th, 2014 4:50 PM by Salim (Sam) Kader MLO# 130505

Thanks to Consumer Financial Protection Bureau (CFPB), FHA has agreed to end its controversial full-month interest policy on its loan that has been paid off. This new policy is for future borrowers starting Jan. 21st 2015. Until then - if you a seller or refinancier paying off an FHA loan - insist that your closing date is as close to end of the month as possible. Thus reducing in paying accrued interest on loan that you've paid off.

Posted by Salim (Sam) Kader MLO# 130505 on March 30th, 2014 4:50 PM



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