FHA Fills in the Details of new Refi Program for shortsales
Good News for Jacksonville, Florida Home sellers & buyers
Hey guys Howard here from Round Table Realty.
Just wanted to talk to you a little bit about some news that just came out today.
It looks like the FHA and HUD are rolling out some details in regards to the shortsale refinancing program that is coming out later on in September of this year.
It looks like, as long as the banks play ball, whats going to happen is the banks are going to be willing to write off about 10% of the principal of the first mortgage and then the FHA is going to provide some incentives for second lien holders to play ball as well.
This could be a really good way to keep some of the foreclosures off the market going forward, really trying to put a floor under the housing market as it is and make it an even better time for buyers to get great deals.
If you have any questions give us a call. The number is (904) 469-7653 or go to our website... www.RoundTableRealty.com