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President Trump's 1st action: Suspend MIP cut

MenInTights

not a plastic bag
Trump administration suspends FHA mortgage premium rate cut

wow. Is this really how we're going to start the next 4 years?

MIP was raised after 2008 housing collapse and was eased 2 years ago. I got the 1/4 point reduction just before I bought! Obama brought it down again and Trump stopped it. Why in the hell would you stop this? Housing is stable, the economy is better. A lower MIP is $500+ per family per year. Money that is not going to the banks.

Horrible move! I just got finished saying how hopeful I was and then I saw this! And the 1st thing Trump did?!?
 

Hilander

Free Spirit
Staff member
V.I.P.
I don't know why he had to do that unless it was pressure from republicans. They are against lowering it because a few years ago FHA wasn't doing very good and had to get a bail out but from what I've read they are doing better now. I hope he reinstates it soon. Unless they aren't doing that well.
 
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