The FHA wants to save you money, and the President is on board.
“‘Existing homeowners who refinance into an FHA mortgage will see similar reductions to their mortgage payments as well,’ said a statement from the White House at the time of the announcement. ‘In total, this action will help millions of families save billions of dollars in mortgage payments in the coming years, helping to support the housing market recovery.'”
According to the powerful men in the capital, we’re making a huge leap toward a fully-recovered housing market, and there’s no complaints about that. For more information from the FHA on how they’re going to make this happen, check out Brena Swanson’s article from HousingWire: