U.S. Housing Secretary Tom Donovan announced yesterday FHLHA (the government entity overseeing Fannie Mae and Freddie Mac loans) will begin offering refinance loans to qualified borrowers at amounts up to 125% of the property's current Loan to Value (LTV).

This means all those folks out there who have been paying their mortgages, watching prices fall and could not refinance to take advantage of better loans and lower rates now have choices, and good ones.

The terms are expected to fall in line with conventional purchase loans in terms, rates and fees.

TELL YOUR CLIENTS!

This should keep some families in place, avoid short sales, and lower the foreclosure rate over time. To all of us, it means one more way inventory will go down, and lessen new listings.

Its easy to get this kind of information delivered to you every day, and you need to be an expert not only on areas you serve, but what the choices are for financing homes in your market. it is a changing landscape and knowing it will bring benefit to your clients and closings to you.

Simple things you can do to know more:

follow blog posts on sites like trulia voices, activerain and Zillow.

set up Google news alerts around key words like FHA, Tom Donovan, etc and get a daily email of links.

sign up for daily emails of stories from Realty Times, Inman news and check your own Association website regularly for items of interest.

follow people on Twitter who are passionate about our business. they will gather info and deliver to you via their twwets.

Don't have a Twitter account? watch for our Twitter twaining in Hinsdale, where you will learn the ins and outs of this great tool.

ollow people on Tw