Over the past few weeks, we’ve seen the birth of unprecedented stimulus plans and legislation that impact the housing and home loan industries. The provisions of these plans could have huge implications for those who are considering purchasing or refinancing a home. Please contact us about this article and we will provide an overview of some benefits of the Economic Stimulus Plan and the Homeowner Affordability and Stability Plan that may impact you.

President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes. The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is an incentive for homeowners who have less than 20% equity in their homes, or who owe more than their home is worth. FL FHA Loans allows up tp 95% refinancing. The second part attempts to lower monthly payments for homeowners at risk of losing their home. Please email us for more information.