Maine State Housing February 2008 Updates

MSHA NEWS:  The Maine State Housing Authority (MSHA) provides these notable updates – a) for the month of February 2008 their First Home Rate remains 4.95% and Maine Assist at 5.25%; b) beginning March 3, MSHA will offer 0 point, 2 point and 40-year term options.  The current 3 seller point requirement will be discontinued.  Program guidelines, webinar training dates and marketing initiatives will be announced during February.  Will apply to first-time homebuyers, veterans and active duty military; c) MSHA borrowers who lose their jobs now have Maine HOPE (Home Ownership Protection for umEmployment).  Maine HOPE may be available to assist borrowers who become unemployed by making 4 of their MSHA mortgage payments, including taxes and homeownership insurance.  The Maine HOPE loan is interest free and repaid when the borrower pays off their MSHA mortgage or stops using the home as their primary residence.  For more info – (800) 452-4668 or http://www.mainehousing.org/HomeLoan/

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