Arizona Home Talk

New Mortgage Help from Gov’t

Nov. 11, 2008 09:48 AM Associated Press WASHINGTON - In the most sweeping effort so far to help troubled homeowners, the federal government and the mortgage industry on Tuesday will announce a plan to streamline the assistance process for hundreds of thousands of delinquent loans held by Fannie Mae and Freddie Mac. The Federal Housing Finance Agency, which [...]

Three Big Mortgage Loan Changes effective Jan. 1, 2009

Potential Home Buyers: BE AWARE that several loan programs will change on January 1, 2009.  The FHA minimum down payment goes up from 3% to 3.5%.  The FHA maximum loan amount goes from $346,250 down to around $318,550 (in Arizona).  Once a buyer has a purchase contract, a mortgage lender can establish an FHA case number [...]