On June 1st, 2012, the fees to refinance an FHA mortgage will drop for homeowners who took out their original mortgage before June 1st, 2009. Only about 1/3 of FHA loans were taken out before the cutoff date, leaving 2/3 of homeowners unable to take advantage of the lower costs to refinance. We believe the cutoff date should be changed to allow more homeowners to take advantage of the lower costs.
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