act: The future cost of the American Recovery - 03/02/09 03:09 AM
The "American Recovery and Reinvestment Act of 2009," passed the House on February 13, 2009.  The bill included provisions mainly for FHA, Fannie Mae and Freddie Mac Loan programs targeted to first time homebuyers and homeowners in distress.
One of the main points of interest on the stimulus bill approved by the House is the $8,000 tax credit that would be available to first-time home buyers combined with the expanded loan limit provisions for FHA loan programs.
As per the Wall Street Journal, in January 2009 the median home price dropped 14.8% to $170,300 from the year-earlier level and about 45% … (0 comments)

act: HOPE for Homeowners Program to be Available for Distressed Homeowners Soon !!! - 11/07/08 05:37 AM
The HOPE for Homeowners program, a part of the Housing and Economic Recovery Act of 2008, allows the Federal Housing Administration (FHA) to provide targeted assistance to certain borrowers facing difficulty with their mortgages.  
If the homeowner qualifies, and if the current lenders agree, the homeowner may be eligible for a partial write-down of their mortgage debt and a new fixed-rate FHA insured loan for up to 87% of the current appraised value. (90% minus 3% Origination Fee) In regards to the difference between the new proposed loan amount and the actual mortgage, HOPE for Homeowners has a requirement for Equity Sharing that … (1 comments)

 

Ariel Segall

Weston, FL

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