Arizona Loaned

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    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 [...]

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    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 [...]

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    Phoenix Real Estate Market Slowly Recovering

    A study earlier in the June of 2011 showed that the Phoenix Real Estate market has had an increase of sales by 1.5% from the data of the previous year’s June, with an 8.3% increase from the month prior to this year’s statistics being collected. Now, 1.5% may not be something to break that bottle of champagne that you’ve been saving since your first marriage, however – before you go back to thinking that we as a real estate market are still in the middle of our across the board flat line, hear this: 1.5% is still progress, and even [...]

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    Mortgage Rates Hit Historic Low, Time to Refinance

    For the first time in history, interest rates have fallen below 4% on a 30-year-fixed mortgage. This is great news if you are looking to buy a home, or refinance your current mortgage. Hopefully, these historic rates also provide some relief to the struggling recovery. The idea is if people pay less of their income to their mortgage, they will have more money to spend on other things. If you are in the market, this is unquestionably a good thing. Via MSNBC.com The average rate on the 30-year fixed mortgage this week fell below 4 percent for the first time [...]