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President Donald Trump blocked an Obama administration policy that would have reduced the cost of mortgages for millions of home buyers.
Marla Thomas, mortgage loan officer for Inland Home Mortgage, says the action will affect millions of homeowners with an FHA backed mortgage.
FHA backs about 16-percent of the country’s new mortgages.
The programs offer easier credit requirements, lower down payments and smaller closing costs, according to the U.S. Department of Urban Housing and Development.
