Over the past couple of years many people have had their ARM adjust upward and have not refinanced because they may have thought they would not qualify for a new fixed mortgage. Our FHA Mortgage Program is designed to help those who have an ARM that has adjusted upward or is about to adjust upward, this program has been designed to help those who may have gotten into a sub prime loan because of past credit issues and are now finding it difficult to pay their mortgage after the rate adjustment.
To qualify for This FHA Mortgage Program, eligible homeowners must meet the following five criteria:
- A history of on-time mortgage payments before the borrower's teaser rates expired and loans reset;
- Interest rates must have or will reset between June 2005 and December 2009;
- Three percent cash or equity in the home;
- A sustained history of employment; and
- Sufficient income to make the mortgage payment.
Contact Benchmark Mortgage Today and find out if we can help before it's too late.
1-866-334-5626 Toll Free in Connecticut
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