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Housing Bill Signed Finally (1 viewing) (1) Guest
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TOPIC: Housing Bill Signed Finally
#1283
FHAguy (Admin)
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Housing Bill Signed Finally 2 Years, 1 Month ago  
Bush finally put aside his veto threat to the housing bill and signed it into law today. The new FHA program it will create is expected to come online Oct 1st and we will post guidelines as we get them.

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#1284
deb1684 (User)
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Re:Housing Bill Signed Finally 2 Years, 1 Month ago  
What if you don't owe more than your house is worth? It appears the guidelines include that the lender write down the balance of your loan. Is there any provision for writing down the interest of your loan? I seem to be in between all of the help options.
 
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#1286
FHAguy (Admin)
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Re:Housing Bill Signed Finally 2 Years, 1 Month ago  
If you have some equity already it would be cheaper for the banks to let you partake of this program. Naturally the whole program revolves around a 30 year fixed loan most likely below 7%. But we will have to see what the exact guidelines are when they write them. The FHA is working right now on them.
 
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tammie (User)
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Re:Housing Bill Signed Finally 2 Years ago  
What if ur already in Forebearance with ur fiannce compnay andthey say tough!
They told us in March when our forbearance was up they would refi but now we can't make the last payment.
Any help there?
 
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