Effective April 1st, 2012 FHA (the Federal Housing Administration) has some new costs and mortgage structure changes. Nothing major, but certainly something you should be aware of, because it's going to increase some of the costs to home buyers. Click on this link to see a short presentation of the changes. These are FHA changes, across the country, effective for all new applications after April 1, 2012. The FHA doesn't fund mortgages; they only insure mortgages. But, with increased default due to the current economy, and because of the rough loans from a few years back, the FHA has to increase their insurance premiums to keep their pool of insurance funds available to help with those defaults.
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