On Tuesday (March 6, 2012), President Obama announced a cut in mortgage insurance fees on many current FHA government-backed mortgages. Up to 3 million homeowners could save over $1,000 per year through a less-expensive, turn-key refinance program currently offered by FHA.
This is the latest step President Obama has made to assist struggling homeowners, following the announcement of the HARP 2 Refinance Program in November 2011. The purpose behind both of these programs is to help homeowners refinance out of high-cost, and possibly adjustable interest rates into lower cost, low-rate, secure programs.
View the full post from My Mortgage Guy Dan Keller
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
