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US Reveals Residential Mortgage-related Measures

US Reveals Residential Mortgage-related Measures

Postby hidalo » Fri Jan 30, 2015 7:38 am


US President, Barak Obama, mentioned that he will use some measures to facilitate the low-income residents to buy house.

White House claimed that Housing Federal Administration is decreasing the guarantee on mortgage to those who wish to buy house but having insufficient money and first home buyer.

Obama claimed at the Central High School in Phoenix that buying home is more meaningful than buying a roof and four sets of wall. He added that this new policy will provide many residential families with chance to be the owner of the house in 3 or 4 preceding year.

This is the Obama’s second statement while the third would be made next week to discuss about well-being of US Economic.

Jolian Castro, high-ranking officer in Ministry of Housing and Cities Development, said that annual renting fee received by Housing Federal Administration to guarantee the mortgage will be cut down 0.5 per cent or 0.89 per cent of loan balance.
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