The Obama administration plans to announce Thursday new guidelines designed to help struggling homeowners with Federal Housing Administration-insured mortgages.
The Obama administration plans to announce Thursday new guidelines designed to help struggling homeowners with Federal Housing Administration-insured mortgages.
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On February 18, 2009, the Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels.
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Through the Department of Housing and Redevelopment a first-time home buyers program has been created to provide down payment assistance loans. This program is designed to expand home ownership opportunities to low and moderate income persons by providing down payment assistance and/or closing cost for the first-time home purchase. This program is available in various cities and counties through-out California.
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