How do I SHORT REFINANCE my ARM Mortgage into an FHA Loan?

Mortgage and Lending with Chris Brown | Certified Mortgage Planners NMLS 303797

ARMs have been strained,

ARMs have been twisted.

Since Lehman failed you may find that...

your ARM as around your own neck?.

Ugh... for current home owners with soon-to-adjust adjustable rate mortgages [ARM], the recent financial market upheaval worldwide may lead to a personal catch-22.

This is mainly because most conforming ARMs made after 2003 are based on an index called "LIBOR" [London Interbank Offered Rate... this is the rate that banks charge one another] and LIBOR is up an uncharacteristic 2 percent since September. Ooof.

Historically, LIBOR has tracked the U.S. treasury market, plus about 1/2-percent. This suggests that banks are only slightly less likely to default versus the U.S. government. That communicated that banks, at the time were only fractionally less likely to default than the US Govt.

Well guess what...

Read the Whole blog at:

How do I Short Refinance my ARM into an FHA Loan?

Chris the Implementer

Orlando Mortgages | Orlando FHA Loans

Orlando Real Estate | Florida Reverse Mortgages

Florida Short Refinance | Mortgage Chili Blog

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Loren Johnson
White Bear Lake, MN

Great a CMPS myself, I always struggle with trying to use that knowledge to educate clients without sounding too preachy. Your blog did a great job of explaning the change without being too technical! Good Luck

Oct 15, 2008 04:24 AM #1
Scott Swinford
Hancock Mortgage Partners - Crown Point, IN


Great job explaining a very technical problem in your own words (even if you made one or two up yourself).

It's a very unique time in the mortgage lending arena and you do a great job getting the information out to your clients; past, present and future.


Oct 15, 2008 04:53 AM #2
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Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner

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