The Federal Housing Administration (FHA) has announced that it will be lowering the premiums for mortgage insurance for individuals who are refinancing their loans due to the housing market improvement strategy by President Barack Obama. The FHA has stated that it will be reducing the up-front premiums to bring them down from their former position at 1 percent, to 0.01 percent. This was indicated in a fact sheet that the Obama Administration began distributing on Tuesday. According to that same fact sheet, there will also be a reduction in the…
Read MoreTuesday, February 27, 2024
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