Real estate blog entries tagged with hud by Dora and Vincent Kwok,CNE - Chandler, Arizona Real Estate (HomeSmart Real Estate)

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Home : Blogs : Dora and Vincent Kwok,CNE - Chandler, Arizona Real Estate : Dora and Vincent's Blog : Tag "hud"

hud: Making Home Affordable Financing expanded to 125% - 07/01/09 03:55 PM

U.S. HUD Secretary Shaun Donovan today announced an expansion of the Obama Administration's Home Affordable Refinance Program to include participation by borrowers who are current but up to 125 percent underwater on their mortgage. The previous limit was 105%. Borrowers whose mortgages are currently owned or guaranteed by Fannie Mae and Freddie Mac will now be allowed to refinance those loans according to the terms of the Home Affordable Refinance program established earlier this year, on Febraury 18, 2009.
For example if the property is worth $200,000, the borrower must owe $250,000 or less, where previously the borrower must have owed … (0 comments)

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Dora and Vincent Kwok,CNE - Chandler, Arizona Real Estate

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