CONVENTIONAL
Mortgage Servicers Boosted by HARP Extension - Yahoo! Finance
Fannie Mae and Freddie Mac Extended HARP until 2015.
This allows you to refinance into market rates regardless of your home's value if you have a Fannie or Freddie backed mortgage taken out prior to June of 2009. You can check the following links to see if you qualify. Rate on a 15 year are 2.75% 30 year 3.75%. Freddie Mac is also taking unlimited debt ratios.
https://www.knowyouroptions.com/loanlookup
https://ww3.freddiemac.com/corporate/
FHA NEWS
FHA Has increased their monthly PMI and it is now fixed to the loan for the life of the loan. Along with the 1.75% of upfront PMI that is added to the loan balance this has become a very ugly way to get into a new home with a low down payment.
The good news is that Conventional guidelines have been finally loosening up a bit and a new buyer can get into a new home with 5% down and no PMI.
FHA also has a streamline refinance that has the old PMI rates as long as the loan was insured by FHA prior to June of 2009.
If anyone thinks they might qualify for one of the refi-programs above or has any questions please feel free to shoot me a PM for
more info.
Hope this can help someone