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FHA Short Refi available for non-FHA borrowers with partial debt forgiveness

By Joshua Talayka

Real Estate Agent with Chase Internatinonal

December 06, 2011 07:06 AM

The Federal Housing Administration (FHA) offers qualified borrowers with non-FHA loans the option of refinancing into an FHA-insured mortgage. The current lender must also agree to write of a minimum of 10% of the current unpaid principle balance. In addition, all other lien holders must consent to allow the borrower to participate.

To participate, the following qualifications must be met: FHA Short Refi Qualifications

Should you have any questions or need further information,
please don't hesitate to contact me, (775) 220-1630
Or visit my website: www.SellingHomesinReno.com

Joshua Talayka
NAR designated: Short Sale & Foreclosure Resource
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

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James Lyon

LyonSF - San Francisco, CA

916-521-1214

Again, there are a lot of programs out there that sound good on the surface but are you seeing the 10% principle reduction happening?

Dec 06, 2011 07:07 AM

Nicole Needham

Needham Realty - Winters, CA

SFR (530) 302-5478

Joshua,

Do you have any idea on home many of these have been done if any?

Dec 06, 2011 07:14 AM

Joshua Talayka

Chase Internatinonal - Reno, NV

I don't have any clients who have pursued this program. This is primarily due to the fact that homeowners in Nevada are much more than 10% upside down on their home. As a result, most of my clients are electing to just go straight to the short sale.

Dec 06, 2011 07:34 AM

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Joshua Talayka

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