Arizona Loaned

  • 0

    FHA Announces Price Cuts to Encourage Streamline Refinancing

    Millions of FHA borrowers could save average of $3,000 a year WASHINGTON – Today, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA’s Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA. Beginning June 11, 2012, FHA will lower its Upfront Mortgage Insurance Premium (UFMIP) to just .01 percent and reduce its annual premium to .55 percent for certain FHA borrowers. To qualify, borrowers must be current on their existing FHA-insured mortgages which were endorsed on or before May 31, 2009. Late last month, FHA also announced it will [...]

  • 0

    HARP 2.0 is Coming: Refinance your Underwater Mortgage in Arizona

    I’ve been getting a lot of questions lately on HARP 2.0 (Home Affordable Refinance Program), so I thought I would write a post to give a basic introduction to HARP 2.0. HARP 2.0 is a federal program that was announced in October by President Obama. It is designed for homeowners who purchased their homes during the housing bubble, but now find their mortgage underwater. Currently those people are unable to refinancing under existing programs due to the depreciation in their homes value. This is significant because up to half of Arizona mortgages are underwater. The original HARP program which allowed [...]