Today we have started to receive more information regarding the new mortgage/refinance program that Obama’s administration has come up with. This is a quick easy guide in understanding the changes that are being made.

This is just a snapshot of the information I have received today. More information will be coming out in the near future. Information is subject to change, I suggest you speak to a professional before making/suggesting any decisions. I have received information from the sources listed below.
The York Daily Record- Don Lee, CBS News, Mortgage Market Guide, Washington Post
Here is a helpful chart that provides information regarding how long of a waiting period a person has to wait after a foreclosure, short sale, or bankruptcy.

~~All information is subject to change. Contacting a professional is always encouraged!~~
FHA maximim loan limits are dropping!
The new maximum loan limits have been confirmed!
Below you can view the 11 County Metro new loan FHA loan limits in Minnesota. If you want to see the limits outside of Minnesota I have included a nice link that will hopefully help you out! Click here!

The Home Affordable Refinance Program (HARP) has been extended again, through June 2012. This program offers eligible homeowners the chance to refinance their homes even if they owe more than the present value of the house. This program is a unique way for certain homeowners to take advantage of these relatively low rates.
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