A recent article by The Pennsylvania Association of Realtors outlined a new program being rolled out by the U.S. Department of Housing and Urban Development (HUD). Offered through the Federal Housing Administration (FHA), This will allow some homeowners to refi their homes even though they may owe more than the market value. The program will allow for lenders to to write off at least 10 percent of the unpaid principal balance of the first mortgage.
Click on the link below to read the article, courtesy of the Pennsylvania Association or Realtors.
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Straub and Associates Real EState Group