This Just In…..

Very important news as the Fed lowers the key interest rate a half point with the specific motive of helping prevent a continuing housing slump.

Full story HERE

Also in an effort to help homeowners from becoming a statistic in the current rise in foreclosures the House of Representatives is pushing for affordable housing grants and government back loans to be offered to low and middle income homeowners in danger of losing their house.

Full story HERE

This would allow homeowners who are watching their payments increase dramatically as their mortgage rates adjust get a “non-cash-out” refinance package that will get them out of their adjustable rate mortgage and into a fixed rate FHA loan. This is great news.

If you’d like more information about this expanding FHA program give me a call and I’ll direct you to a home mortgage professional who can help walk you through the process to see if you qualify.

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