Your Name:
Your Email Address:
To: (Email)
Subject:
Message:
Email Preview:

Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Case Study for a FHA Refinance
Here is a scenario to show why it can be beneficial to Refinance your loan or loans into a safe, secure, fixed rate FHA Loan.   Let's say you live in Seattle, Washington.    Your home is worth $600K and you currently owe $460K on your first mortgage, and you have a second mortgage for $100K.  Let's say that you used the $100K to completely remodel and upgrade your home.  New Kitchen, Baths, flooring, windows, etc.  You have put alot of love and effort into your home and want to stay there for a few more years.   Your first mortgage is a 5/1 ARM that you got in 2005 or 2006, and you are worried about the rate and payment increasing, and what that may translate to in the future.  You owe 93.3% of your homes value.  (93.3% LTV or Loan to Value).  
It is now time to refinance the two mortgages into one fixed rate mortgage.    From all the headlines, it might seem like the government has set up a nice safety net for you.  Here is the bad news:   Your first mortgage doesn't qualify for HARP (Home Affordable refinance program) from Fannie Mae or Freddie Mac, since it was not a Fannie or ... more

__________________________________________________
Are you on The Rain? Grow Your Network!




Spam prevention