What is happening today in mortgage lending:
HUD issues Mortgagee Letter 08-23 Revised Down Payment okay here it is. It is a bit confusing but it is certain that the down payment requirement for FHA purchase of 3.5 is not effective until January 1, 2009. There was a surprise in here about refinance rate and term loans. Check it out
Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com
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