An FHA program being offered if you haven’t heard.  The program is designed to allow homeowners to refinance up to 90% of fair market value.  Of course there are certain criteria you must fall under in order to re-fi.  The catch is the limit is your home’s value cannot exceed $611,600.  In other words if the fair market value of your home is $611,600 or under you can qualify.  This is good news for homeowners in San Jose, Santa Clara and parts of Sunnyvale.  Oh yeah! There is a time limit on this program.  It’s whichever comes first, $300 billion or till 2011, but even that is not set in stone.  Personally I think for all the buyers out there who are waiting for the bottom this will flatten out home prices eventually.