There are changes to the H4H program where the LTV would be up to 93%, the 3% Up front MIP would no longer be required and that the current yearly MIP would be in a range from .55% to .75%. The legislation that has the proposed improvements in it is HR 384 which deals with what to do with the second half of the TARP program.
I'm confused with the other changes that I read in some places, how was the LTV changed to 96,5% and the years to finance maxmum length of loan to 40 years instead of the previous 30 years since PL 110_289 sets the original guidelines?

Mr FHA Guy

I have been told the I have qualified for the H4H program but they are waiting on these new guidelines to be approved before they can get me approved totally > i am not sure , but i do know that my mortgate compnay is wells fargo and they were the ones i was referred by for the program, but then i get a letter from their attn saying my home is being sent for sale on April 27 , They have assured me that they will stop this, but I am not sure that i trust them since it is their attny and they had the letter sent out, have you heard any updates on when these normally go thru

Anyone know what the defination of a SECOND HOME is?
I have two investment properties and a second rental on my home property, they are not what is usually called a SECOND HOME which is typically a vacation home.