fha underwater refinance: FHA Short Refinance Update - Denver, Colorado
- 09/09/10 09:38 AM
FHA Short Refinance Update - Denver, Colorado The much-anticipated FHA Short Refinance program hit the streets on Tuesday, September 7. As I wrote in a previous post (FHA Underwater Refinance Program), this program is designed to help home owners who owe more on their home than it is worth. Unlike previous programs or loan modification plans, the FHA Short Refinance program is designed for responsible home owners who have kept up on their payments. The key to this program is if your lender will participate. Your current lender must agree to a "short" payoff, accepting less than the amount owed on … (2 comments)
fha underwater refinance: FHA Underwater Refinance Program is Here
- 08/10/10 12:22 AM
As part of the government's Making Home Affordable Refinance program, a new program has been released that is aimed toward helping millions of underwater home owners refinance their mortgage and stay in their homes. The plan, set to be launched on September 7, will allow non-FHA borrowers to refinance into an FHA mortgage at 97.75% of their home's appraised value, with the mortgage balance being written down, or forgiven, to bring the balance down to that ratio. However, there is one aspect of the program that is problematic, and may make it difficult for many people to qualify. The plan requires … (6 comments)
FHA Short Refinance Update - Denver, Colorado
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