Help for homeowners with FHA loans

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A new program is being offered to help homeowners with FHA loans. By Jennifer Thomas A new program is being offered to help homeowners with FHA loans. By Jennifer Thomas

PHOENIX -- If you've been struggling with your house payment and have an FHA loan, the government is about to make refinancing more affordable and potentially easier.

Qualifications:

FHA borrowers only
Be current on the mortgage
Owner-occupied home
You must be employed
Have a mortgage that was endorsed by the FHA before June 2009

This new program goes into effect on Monday.

Mortgage consultant Mike Metz shares the details with Kaley O'Kelley.