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Archive for March, 2012

City Creek Living Financing for City Condo’s in Salt Lake City, Utah

March 30th, 2012 by

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FHA to cut refinance fees under White House plan

March 29th, 2012 by

The Federal Housing Administration (FHA) will cut fees for homeowners with FHA-backed mortgages seeking to refinance under a new plan to expand the effectiveness of an existing refinance program, the White House announced Tuesday. An estimated 2-3 million FHA borrowers will be eligible to benefit from the revamped FHA Streamline loan program.Obama is reported ready to announce that refinancing... [ Read More ]

Upcoming Changes To FHA Mortgage Insurance

March 19th, 2012 by

Upcoming Changes To FHA Mortgage Insurance
 
For FHA Case Numbers Assigned On Or After April 09th, 2012
  • UFMIP increases to 1.75% for all base loan amounts
For base loan amount... [ Read More ]

What is HARP & how can it help me?

March 18th, 2012 by

HARP stands for Home Affordable Refinance Program.  HARP was put out by the Obama administration.  It was designed to help homeowners with their mortgages that are upside down and under water in refinancing their property & mortgages.The hope of this program was undoubtedly to allow those who were making payments on their mortgage to capitalize on the lower interest rate, and in turn ... [ Read More ]

WHAT THIS MEANS FOR YOU

March 18th, 2012 by

Essentially this means that no matter how far underwater you are on your property, you will be able to Refinance under HARP, and lower your payment as well as your interest rate!Of course there are a few qualifications, but for the most part as long as your mortgage is current you will be able to finally get some help!!!... [ Read More ]

HARP 2.0 is rolling out

March 7th, 2012 by

Since October of 2011 the mortgage industry has been chomping at the bit to have the changes that were announced by President Obama take effect for loans owned by Fannie Mae or Freddie Mac that have been unable to refinance during the past few years as we've had historically low interest rates.  The past 5 months has been a long wait for many families that have been waiting for these changes.... [ Read More ]