Short Refinance Program Initiated - 09/09/10 01:08 PM
In an effort to help homeowners who owe more on their homes than they’re currently worth, the government will initiate its “short refinance” program on Tuesday, September 7, 2010. According to an August 6 Mortgagee Letter released by HUD (click here to download the entire letter), the program will allow “borrowers who are current on their mortgage to qualify for an FHA refinance loan provided that the lender or investor writes off the unpaid principal balance of the original first lien mortgage by at least 10 percent.” While lender consent is required and program participation voluntary, the FHA has stated the … (2 comments)

Government Affairs Action - 09/03/10 05:24 AM
Anti-Deficiency Protection Red Alert: C.A.R. has issued a "Red Alert" asking all REALTORS® to urge Governor Schwarzenegger to sign Senate Bill 1178.  This bill extends anti-deficiency protections to homeowners who refinanced their mortgages, but didn't take any cash out, and are now facing foreclosure.
 
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Angel Lynn

Sacramento, CA

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Angel Lynn Realty

Address: 1913 Capitol Avenue, Suite C, Sacramento, CA, 95811

Office Phone: (916) 443-1445

Cell Phone: (916) 803-1975

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Sacramento and Bay Area Short Sale Specialist




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