Bush Administration Plans Expansion of FHASecure

Recently, the Bush administration announced that it will allow FHASecure to assist more homeowners who are having trouble keeping up with their high-cost subprime adjustable rate mortgages. Starting on July 14, 2008, HUD will ensure a fair and flexible premium pricing structure to help homeowners who have missed up to three months worth of mortgage payments in a year, and who can no longer afford their mortgages. These recent modifications are being implemented in order to help avoid foreclosure and avoid placing homeowners at increased or excessive risk.

To read the details regarding the expansion of FHASecure, please visit:
http://www.hud.gov/news/release.cfm?content=pr08-064.cfm&CFID=4115041&CFTOKEN=52052542