Last year, FHA implemented a policy of risk-based mortgage insurance premium (MIP) pricing, which made those with bad credit scores pay more for insurance, and allowed those with good credit to pay less. That idea went over like a lead balloon with lawmakers and activists alike. And so on October1, 2008, a couple of months after it started, the policy was scrapped--for a year. Well, that one year moratorium is over October 1st of this year. If you have bad credit and want an FHA loan you need to do it now--because after October 1st it may cost you more.If you have been on the fence about refinancing your mortgage or buying a new home I have another reason for you to get off. Never mind the $8,000 credit if you are a first-timer. Never mind the fact that housing prices have probably hit bottom in many areas. Never mind the fact that interest rates are incredibly low. You need to hit the ground running if your credit isn't great because if you wait you will pay more for your mortgage insurance premium--in some cases a lot more. Not sure if you can get a mortgage?Then complete the form and someone will tell you. How much easier can it get? So I'm going to stop now you that you can get started. You really have no time to waste.