Whether your buying your first or new home today or a year from now, these changes will dramatically affect your ability do both...
The FHA's move to raise upfront mortgage insurance premiums takes effect next week, soon to be followed by a reduction in allowable seller concessions toward a borrower's closing costs.
Speaking to a Housing Financial Services subcommittee earlier in March, MBA President John Courson expressed concern that "this could be another policy change that would have an adverse effect on the population that traditionally has sought FHA's assistance to purchase a home." He added that the cut in seller concessions would largely affect low-to-moderate, first-time, and minority home buyers.
Source: Memphis Daily News, Eric Smith (03/30/10)
Created as a Tool to assist current, previous, and future Clients with their Real Estate questions and concerns, this blog is meant to be an informative tool where you can learn of important changes to our market that may affect how you Buy or Sell your home. Hear of Testimonials from Friends, Family, and my clients whom have enjoyed there real estate experience.
Friday, April 2, 2010
Subscribe to:
Post Comments (Atom)
A very nice blog and you have share us a very good knowledge...
ReplyDelete