fha streamline refinance: Client Wrote Congress ABOUT FHA Streamline Rules - 05/06/13 06:22 AM
I’ve never accepted a guest post on our site – however, I received a letter from a borrower who is frustrated by the FHA Streamline Refinance System.  The Borrower (who lives in NC) has a FHA loan, and wants to take advantage of the low FHA Mortgage Rates – however, her loan was endorsed 11 days after the deadline of June 1, 2009.  Because of those 11 days, she can’t really justify a refinance, the FHA PMI rates are just too high for it to make sense! (Read More about the FHA PMI Endorsement date of June 1, 2009)
Here is … (0 comments)

fha streamline refinance: Refinance with No Appraisal in North Carolina - 02/25/13 03:05 AM
There are tons of folks who want to refinance their house in NC – but don’t think it will appraise for what they owe.  Did you know that there are SEVERAL programs available that do NOT require an Appraisal? 
If Fannie Mae or Freddie Mac have your mortgage – you can get a loan for more than 125% of what your home is currently worth!
Does this mean you can get Cash Out of your home up to that amount?  No.
But, if you have a mortgage loan that has a balance that is higher than what you owe on your … (1 comments)

fha streamline refinance: Refinance Investment Property with FHA Streamline Program - 01/16/13 09:03 PM
FHA Mortgage Loans are generally only available to folks who are going to live in the property – the EXCEPTION is if you already own the home, and you want to refinance it.  If you purchased a home with a FHA mortgage, then moved out, and are renting it (so now it’s Investment property) you might be eligible for a Streamline Refinance.  
We can close a  FHA Streamline Refinance of Investment Property.
Obviously, the benefit of the FHA Streamline is greater for folks who purchased the home, and have a loan that was endorsed by FHA prior to June 1, … (3 comments)

fha streamline refinance: What Does Endorsed By May 31, 2009 – FHA Streamline Refinance - 04/25/12 12:36 AM
There’s a new FHA Streamline Refinance program coming on June 11, 2012 and lots of people are interested in it!  It has a new “tier” for the FHA PMI rates – that is much lower than the current rates!  Of course, FHA doesn’t actually make loans, they just insure the Lender against default.  Because most of the people we know call this kind of Insurance PMI – we refer to it that way.
In the Announcement for the New Streamline FHA Refinance Program, it states that the only people who qualify are people with “Mortgages that were ENDORSED By FHA Prior … (5 comments)

fha streamline refinance: FHA PMI Changes in April and June - 04/10/12 02:48 AM
HUD (and Congress, and FHFA) is putting pressure on FHA to be more solvent, and less of a looming Risk on the Economy.  Because of this, FHA Underwriting Guidelines, have gotten tighter, they've instituted changes in downpayment requirements for those who are higher risk... and they've continually changed what they charge for PMI.
To be clear, FHA PMI is not really a term that is used.  The "Technical" term is Mortgage Insurance Premium, or MIP - but most of the folks we talk to think of the charges as FHA PMI, so that's what we say when we refer to it.

Eleanor Thorne, Equity Resources  919-649-5058 (Equity Resources) Ambassador large

Eleanor Thorne

Equity Resources 919-649-5058

Cary, NC

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Equity Resources

Address: 201 Shannon Oaks Circle, Suite 204, Cary, NC, 27511

Office: (919) 649-5058

Mobile: (919) 649-5057

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