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Blog entries tagged with "fhasecure":
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This week lots of Changes in store for FHA. I've summarized in the video but since the changes are so numerous we will be having a seminar on it and if you are in the Houston Texas Area we'll be happy to come to your office and bring breakfast of Lunch! … (2 comments)
The Housing Rescue Bill just passed Congress and that is fantastic news for households facing the prospect of losing a home to foreclosure. An additional $300 Billion will be allocated for FHA Short Refinance Loans (FHASecure) allowing home owners faced with the prospect of foreclosure to do an FHA Short Refinance and keep their … (2 comments)
FHA is offering help to more at-risk homeowners. Homeowners who are experiencing difficulty in making their mortgage payments due to adjustments in their interest rates may be able to refinance their home through FHA's refinance program: FHASecure. Although, the program was established a year ago, it seems that many homeowners are … (0 comments)
Breaking News:
FHA has just announced that for the first time in history that, it will now take credit scores into account. These guidelines changes will become effective July 14th, 2008. I have put the link to the new guideline changes at the bottom of the page. Here are the 10 guideline changes … (6 comments)
Massive Equity Theft
Obtaining a mortgage in Minnesota is what Venture Development-your MN mortgage broker can help you with. We provide loans in Minnesota only. We have products for home loan purchases, home loan refinances, investment property loans, second mortgages on primary and secondary residences, vacation property mortgages, and loans for debt consolidation. We … (0 comments)
Big changes at are coming...
Somebody please explain to me why the Presidential Administration is threatening to VETO the FHA short bill? If someone owes more than what their property is worth and it is an adjustable rate mortgage.....someone is going to just walk away instaed of attempting to refinance. This is the stupidest thing I … (0 comments)
Are you delinquent in your mortgage payments? Is your delinquency a direct result of the adjustable rate reset? FHASecure is a new program, available until December 31, 2008, designed to offer relief to this situation by refinancing your home. Kendra Pack, a mortgage specialist, can explain how this program works and … (0 comments)
Life After Bankruptcy
From a Hud press release 
FHASecure is a temporary lending program - which expires in late 2008 - announced by President Bush on August 31, 2007, and released to FHA-approved lenders on September 4th. Qualified homeowners seeking payment relief from their ARM may be able to use FHASecure to refinance their loan into a more stable, fixed-rate … (3 comments)
Two issues today.
FHASecure is a Great Program for Assisting Borrowers who are Currently in a Conventional Adjustable Rate Loan.
1. The FHA Modernization Act of 2007 was recently passed today by the Senate authorizes lenders to help borrowers who are in default. a. lower down paymentsb. Allow FHA to insure bigger loans3. Allow FHA more pricing flexibilityIncreased loan limits would also help people living in high-cost areas; current FHA limits … (2 comments)
The recent release of the HOPE NOW program by President George W. Bush asserts that up to 1.2 million homeowners could be assisted by the program Treasury Secretary Henry Paulson and Housing and Urban Development (HUD) Secretary Alphonso Jackson to work with lenders, loan servicers, mortgage counselors, and investors on an initiative … (2 comments)
Check out this link, http://www.fha.gov/about/fhasfact.cfm, for information on the newest announcement made by HUD to assist those buyers with conventional ARMS(Adjustable Rate Mortgages) that are due to adjust between now and March, 2008, one of the largest pool of ARM's that have ever been written and purchased by both Fannie Mae … (0 comments)
FHASecure: Working Hard for Your Homeownership
Indeed, Congress approved a program aimed at helping some subprime or high-risk borrowers faced with increasing interest rates on adjustable-rate mortgages. Named FHASecure, the program offers homeowners the chance to refinance into better loans. An estimated 2 to 2.5 million adjustable-rate loans are scheduled to "reset" in 2007 and 2008. That … (0 comments)
The Federal Housing Authority is not known for making changes quickly. However, in the case of the FHA Secure product, HUD has acted quickly to bring the FHA Secure product to market. Many times programs and products are announced and then there is a huge lag time before consumers can … (0 comments)
It's no secret that 2 million adjustable-rate mortgages will be reset over the next two years, according to an estimate from the Department of Housing and Urban Development, and of them, about 500,000 are expected to go into default. So the question is what can be done?
As we sit and wait what appears to be the Senate putting the FHASecure program on the back burner, we once again have the government, namely the Treasury Secretary traipsing out in front of the news media and declaring his support for"The Alliance" better known as the Hope Now Program. Although "The Alliance" … (1 comments)
Has the adjustment period for your mortgage recently caused your monthly payment to increase? Are you having trouble meeting those larger payments? Have you received a Notice of Default? 
Here are some frequently asked questions reguarding the new FHASECURE loan program. This is FHA's attempt to help homeowners who are behind on their mortgage due to an interest rate reset.
A lot of people have been asking me if they are, in fact, eligible for a FHA Secure loan. The loan is designed to help people who have fallen behind on their mortgage payments as a result of a recent adjustment in the rate of their adjustable rate mortgage. Here are … (2 comments)
BUSH ADMINISTRATION TO HELP NEARLY ONE-QUARTER OF A MILLION HOMEOWNERS REFINANCE, KEEP THEIR HOMESFHA to implement new "FHASecure" refinancing product 
Updated FHASecure Information from today's conference call.
If you are looking for some answers about the FHASecure Program:
Here is the Announcement of FHASecure
Background: A couple of days ago I had the pleasure of speaking with Bryant Tutas (Broker Bryant) about HUD's new initative...FHASecure. Broker Bryant wanted to know what my thoughts were on this effort by HUD to implement a program that would help homeowners deal with this so-called "mortgage mess" as it ties to … (22 comments)
I just received our Mortgagee Letter from HUD announcing the details of FHASecure, the program designed to help home owners with non-FHA ARMs that have adjusted (reset) and are falling delinquent on their payments. Since Mortgage Master, my employer, has been an FHA endorsed lender (a HUD Approved Mortgagee) since our inception, … (1 comments)
Last week, I wrote a blog called, Here It Is... The New FHA Loan Program - FHASecure - Mortgage Lates and 100%+ CLTV Allowed. 
Being behind on mortgage payments can provide a huge hurdle for borrowers looking to refinance into a more affordable interest rate. HUD recently announced a new refinance program available through FHA called "FHASecure". The refinance program is for borrower who are feeling the effects of a subprime adjustable rate mortgage and have … (12 comments)
I really wanted to beleive that both sides of the political spectrum would've come up with a more plausible solution than FHASecure. I hope I'm wrong, but what bothers me even more is how as an industry we're embracing the program as if it were really designed to make a difference. … (26 comments)
I was looking for affordable mortgage programs on Pennsylvania Housing Finance Agency's web site and came across a program called "REfinance to an Affordable Loan program (REAL)" 
President Bush announced last Friday that he proposes providing some assistance through FHA to homeowners repaying adjustable-rate mortgages (ARM). FHASecure would allow borrowers to refinance their adjustable mortgages into mortgages insured by FHA. In order to take advantage of the program, the borrower must prove, among other things, that 1) the original … (7 comments)
Bush has rolled out a plan to supposedly help adjustable rate mortgage holders who face foreclosure. It is an option to refinance into an FHASecure loan. Seriously, let's be real about this. Who and how many people is this really going to help? 
President Bush today announced FHASecure, a new FHA refinance program designed to help trouble homeowners keep their homes. The new program should provide an option for at least some of those people headed into foreclosure due to interest rate resets and skyrocketing mortgage payments.