Monday, September 26, 2016
APPLY NOW PURCHASE REFINANCE CONSOLIDATE DEBT HOME EQUITY LOAN
 
Does your house need attention?
Why not give it a facelift? Refinancing your home could be the answer.
 

President Obama Lowers Fees On Refinanced Loans

Mortgage News > President Obama Lowers Fees On Refinanced Loans
Date: 03/06/2012    President Obama Lowers Fees On Refinanced Loans

At a news conference Tuesday, President Obama announced a reduction in upfront fees on refinanced loans stating "It's like another tax cut in people's pockets.”

The Obama administration estimates roughly 2 to 3 million borrowers who received an FHA Loan before June 1, 2009 stand to save about $1,000 a year if they choose to take advantage of the savings.

The new policy in place instructs the FHA to not count the refinanced loans to a lender’s “compare ratio” in an effort to have them be more willing to refinance FHA Loans.
 

back