Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their existing FHA mortgage into a new one, without having to pay the government-backed group’s new, costly mortgage insurance premium schedule.
Beginning April 1, 2012, the FHA is once again raising its mortgage insurance premiums.
The government’s new, revamped HARP program is 6 weeks from release. Homeowners are gearing up to refinance.
After a half-decade of tightening mortgage guidelines, banks are starting to “loosen up”.
In 2012, for the 7th straight year, the national, single-family conforming mortgage loan limit will remain at $417,000.
As signed into law last Friday, maximum FHA loan limits are — once again — as high as $729,750.
Tuesday, Fannie Mae and Freddie Mac unveiled lender instructions for the government’s revamped HARP program.
After a 2-year easing cycle, the nation’s biggest bank banks report that they’ve reversed course, and are raising the bar on mortgage approvals.
The Federal Home Finance Agency announced big changes to its Home Affordable Refinance Program Monday. More commonly called HARP, the Home Affordable Refinance Program is meant to give “underwater homeowners” opportunity to refinance.
For homeowners in high-cost areas nationwide, conforming and FHA loan limits have dropped by as much as 14 percent.