Connecticut FHA Mortgage Refinance - CT Adjustable Rate Mortgage Refinance
With the modifications to FHASecure scheduled to begin July 14, 2008, there will help to homeowners struggling to keep up with their high-cost subprime adjustable rate mortgages who have missed up to three monthly mortgage payments over the past 12 months.
If you are delinquent, the default must have been due to the payment shock of an interest rate reset or, in the case of an Option ARM, the "recasting" of the mortgage to fully amortizing
FHASecure is a refinancing option that gives homeowners with non-FHA adjustable rate mortgages (ARMs), current or delinquent and regardless of reset status, the ability to refinance into a FHA-insured mortgage. With FHASecure, the lender will not automatically disqualify you because you are delinquent on your loan.
Borrowers refinancing into FHA loans from the subprime market will be better off, even with slightly higher mortgage insurance premiums, because FHA insurance gives them access to substantially lower interest rates, and will lower their overall mortgage costs.
Contact the Benchmark Mortgage Connecticut Team today for more information on how an FHA Mortgage May Help You. www.benchmarkCT.com or toll free in Connecticut 1-866-334-5626
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