Starting June 11, 2012 some FHA Streamline Refinance borrowers in California, Washington and Oregon will be eligible for reduced FHA Mortgage Insurance Premium - both UFMIP (Up front Mortgage Insurance Premium) and Annual MIP. Launching its own version of HARP 2.0, HUD (Housing Urban Development) announced that these reduced FHA MIP would be available for homeowners who currently have an FHA loan "endorsed" before May 31, 2009. Note that FHA Loan endorsement date could be few days (or longer) after the loan closing date. Why should I consider doing an FHA Streamline Refinance?…
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