FHA

Hi pettybob,

The FHA Secure refinance program aims to help those homeowners, who have fallen behind on their mortgage payments, to save their homes from foreclosure. Under the standard FHA guidelines, no homeowner could qualify for an FHA loan if he had a late payment in the past. But the FHA Secure program allows the homeowners to refinance their existing loan, if they have failed to stay current on the loan. However, they must be able to prove that their delinquency is due to the upward adjustment of their existing adjustable rate mortgages.

The new FHA Secure program would help home owners who have fallen behind on their home mortgage and possibly facing foreclosure. The new program would allow the delinquent home owners to refinance their Adjustable Rate Mortgages.

As name suggests it is helping home owners in default condition because of increased interest rates on your home loans. The FHA is breaking new ground with its secure refinance loans which protects homeowners from such conditions. This program helps to protect your home from foreclosure and provides another chance to keep their homes

You could qualify for the FHASecure Loan Program by-

1)mortgage contract.
2)credit history.

you are able to show that you have an adjustable rate mortgage loan and are in default as a result of an increased interest rate on your home loan.

The FHASecure Loans are available on the following types of homes:

1) Single family homes
2) Manufactured homes
3) Multi-family homes

FHASecure refinance program is a program which is designed to provide refinancing opportunities to homeowners and to increase liquidity in the mortgage market.