Real estate blog entries tagged with preforeclosure by Jennifer Monastero (Polaris Funding Group)

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Home : Blogs : Jennifer Monastero : Jen's Brain. For Sale. CHEAP. : Tag "preforeclosure"

preforeclosure: Disappointed in FHA Secure - 08/11/08 07:58 PM

So, with all the horror stories of people losing their homes, rates adjusting, astronomical mortgage payments, job loss etc..., the government decides to formulate a new FHA program aimed at helpig borrowers who are 'facing foreclosure'.

The short version of the program is this: Borrower has an adjustable rate mortgage. Rate adjusts. They are late on some credit card payments and some mortgage payments, but want to keep the house. The idea would be, FHA would refi the loan to a lower, fixed rate and help keep that borrower from losing the house, which is supposedly a lose-lose situation.
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Jennifer Monastero

Danbury, CT

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Polaris Funding Group

Cell Phone: (917) 340-9113

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