David Price, RE/MAX Centre Realty

FHA Mortgage Reduction Put on Hold

About an hour after President Trump was sworn into office today, the Department of Housing and Urban Development made official what had been expected for the last week for so: the mortgage insurance premium reduction on FHA mortgages scheduled to take effect January 27 has been suspended.FHA Logo

Trump’s choice to lead HUD, Ben Carson, said during confirmation hearings last week that the new administration planned to “really examine” the Obama administration’s decision to cut the premiums.

HUD stated that the cuts have been suspended indefinitely.