Yesterday it was announced that President Obama intends to help people get home loans who have "weaker credit" as a way to help improve the rates of homeownership. According to the Washington Post: The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in … [Read more...]
White House Lowers FHA Streamlined Refinancing Fees
As many as three million borrowers with government-insured mortgages may be eligible for lower borrowing costs when they participate in streamlined Federal Housing Administration (FHA) refinancing, according to the White House Administration on Tuesday, March 6. The fresh round of changes from the administration affects loans the Federal Housing Administration insures and would reduce fees on those mortgages for borrowers previously unable to borrow at lower … [Read more...]
