New HECM Option Slashes Up-Front M.I. Premium
Posted by | Posted in improve credit | Posted on 22-09-2010
HECM Saver was announced by the Federal Housing Administration. The new program is a modified version of the standard home-equity conversion mortgage. FHA said it is virtually eliminating the up-front mortgage insurance premium with the new option. To support the lower M.I. premium, the amount of cash available under the program is being reduced — [...]
