From Womens Council of Realtors Meeting at MAR: Make sure you pay attention next week to the new MSHDA plan. Bill Martin spoke to us about MSHDA offering a $7500 DPA to assist first time home buyers. No recap. Yes, these purchasers will still get the $8000 tax credit. The last details are being worked out now. This should help many of us that focus on first time home purchasers. To be implemented when rolled out.

 Michigan State Housing Development Authority - MI State Housing Development Authority.

 www.michigan.gov/mshda  

Angie Ridley

MSHDA helps with Michigan Loan

MSHDA, Michigan State Housing Development Authority, is on the way to the rescue Michigan homeowners facing the difficult times of delinequent payments, foreclosures and arms due.

New refinance programs will include: ARM Assist Refinance - The purpose of this new program is to assist individuals who currently have an adjustable rate mortgage and would like to obtain a fixed rate loan in order to create housing expense certainty.

and

Missed Payment Refinance - The purpose of this new program is to assist individuals who currently have a delinquency on their mortgage and for whom a loss mitigation strategy aimed at reinstating their existing mortgage is not plausible.

http://www.michigan.gov/mshda

for lending questions:

Patty Kelso, CountryWide Home Loans, 810 241 7686