Zweifel to chair Missouri Housing Development Commission

St. Louis Business Journal
Tuesday, May 26, 2009, 11:23am CDT

Missouri State Treasurer Clint Zweifel will become chairman of the Missouri Housing Development Commission, effective July 31.

The commission on Friday also unanimously approved a homeownership refinance package that targets responsible homeowners needing help refinancing existing mortgages, but who do not qualify for the federal government's Making Home Affordable Refinance Program or refinancing through the private sector.

MHDC's program will allow Missourians to refinance into lower-interest rate mortgages and to use down-payment and closing-costs assistance if necessary, according to the commission.

Each mortgage recipient approved under the refinancing program must take approved counseling classes in order to qualify.

MHDC has invested more than $4 billion to construct, renovate and preserve affordable housing throughout the state.

So far, the commission has funded more than 77,000 mortgages for first-time homebuyers statewide.

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