[This is an update to our previous blog post here] Merely moments after being sworn in as our nation’s 45th President, President Trump’s HUD indefinitely suspended the MIP reduction of 25basis points, that was scheduled to begin on January 27th.
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The Department of Housing and Urban Development announced on Monday that they plan to reduce the Mortgage Insurance Premium for FHA mortgage loans. Since 2012, the Federal Housing Administration’s(FHA) Mutual Mortgage Insurance(MMI) Fund has gained $44 billion, and is now 32 basis points above the 2 percent threshold level required by Congress. This is ~$13 billion more …
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CNN recently ran an article explaining why self-made millionaire David Bach has said, “The fact is, you aren’t really in the game of building wealth until you own some real estate.” In his book, “The Automatic Millionaire” Bach writes, “As a renter, you can easily spend half a million dollars or more on rent over …
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