We’ve all been waiting for this because new loan amount calculations were “supposed” to be effective 10-1-08, and thank goodness they’re not. But still, the news is still incredible! I’ve never actually seen HUD really and truly “simplify” anything, let alone the loan amount calculations. They’ve actually done it this time!
And then, the refinance calculations are a shocker! There’s a bunch more, so let me go over things one at a time.
(FHA Mortgagee Letter 2008-23, June 11, 2008)
Read More
