Mortgage Aid Plan
It looks like there will be good news for the hundreds of thousands of Americans facing foreclosure. Yep, this includes Arizona residents too. There was recently an 83-9 senate vote in favor of a Federal Housing Administration backing of $300 billion in new, cheaper home loans for about 400,000 borrowers in danger of foreclosure, who would usually be considered too much of a financial risk to qualify for a government-insured, fixed-rate loan.
The key details are still being negotiated among politicians and lawmakers, which means any final deal would hopefully be made near the middle of July.
This plan will really help home owners in distress and stabilize the market here in AZ.