FHA short refi program

hi packman!

welcome to forums!

you will have to contact your fha lender in order to take advantage of the fha short refinance program. there should be negative equity in the property. apart from this, the homeowner should be current on the existing mortgage to be refinanced.

feel free to ask if you've further queries.

sussane

Sussane,
So far the 1st lender that I've spoken to knows nothing about the program. I suppose there will be an ambitious effort to update all mortgage reps over the next few weeks.

Welcome packman,

It is true that the program has come up but not all the mortgage representatives know about it. I guess the government will take the required steps to update the representatives all over the country.

I called several mortgage servicers.
Not a single provider is aware of this program

Lenders either have no idea or are playing dumb. I'm not sure what a lender has to gain from lowering the principal and rate on a mortgage that is paid in full, on time every month...

try broker named Partners Solutions web- "psllc1.com" Also do a search several brokers offering that

All I know is they offer short pay refi, post what you find out, interested too. Thanks