FHA Housing Rescue Bill

Just heard last week on the new rescue bill by FHA. There is a provision that FHA will rework your current mortgage to reduce your monthly payment. What they are actually doing, is replacing your old mortgage with a new one. FHA is basing the new mortgage amount on 90% of the current house value. The catch is, when you do sell down the road, 50% of your profits goes directly back to FHA to fund their program. If you currently have an ARM- I say start shopping for a conventional loan with a better rate.