The program had been scheduled to end Sept. 30, but the FHFA says more than 143,000 homeowners could still benefit from it
NAR’s chief economist says a recent decrease in mortgage rates is helping homebuyers with affordability concerns
Today, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA’s Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA. Beginning June 11, 2012, FHA will lower its Upfront Mortgage Insurance Premium (UFMIP) to just .01 percent and reduce its annual premium to .55 percent for certain FHA borrowers.
The Mortgage Acts & Practices Rules have been in effect since August 19, 20111—so it’s been around for a while buy not many people know about it…YET!