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 not aware that they may be able to refinance their home and avoid foreclosure.
FHA has temporarily increased its loan limits, which will allow the FHASecure program to help more families keep their homes. Due to the increase in the loan limits, you may still be able to qualify even if your property has depreciated in value. The increased loan limit is currently scheduled to end on December 31, 2008.
Homeowners at risk of defaulting on their mortgage payments (or currently in default), but have otherwise maintained a good credit history, may qualify for the FHASecure refinance program.
Contact an FHA approved lender as soon as possible to make an appointment to discuss your particular circumstances.
Related article: Homeowners Get Help for Mortgages at Risk