El Presidente announced that the Federal Housing Administration (FHA) will help an estimated 240,000 families avoid foreclosure by enhancing its refinancing program effective immediately. Also, the FHA will implement risk-based premiums that match the borrower's credit profile with the insurance premium.
As you may know, plenty of hard working, All American families who were able to make their mortgage payments under the initial terms of their loan are now struggling because their rates have made their mortgage payment unaffordable.
These two approaches will bring stability to the housing market by helping break away from our cycle of foreclosures and price depreciation; thereby, giving eligible families a new opportunity to refinance their homes.
The initiative will operate under the same safe guidelines as the FHA’s existing mortgage insurance program without affecting its financial health. Eligible borrowers will be required to meet underwriting guidelines and pay a mortgage insurance premium in order to avoid the risk to FHA’s Insurance Fund, at no cost to the taxpayer.
We, at ERA Davis and Linn, are prepared to go All the Way with you. If you need to refinance your home, buy a home, or sale a property call or write me today.
Jorge Nunez
Jorge.Nunez@housesapartmentsandcondos.com
904 945 2144
PS: Homes for sale in Jacksonville Florida