FHA Hope for Homeowners, FHA Secure, FHA Streamline, FHA 95% Cash-out, FHA 203k Streamline, FHA Short Refinance... these are all "real" options for people who are currently in an FHA loan and looking for FHA refinancing options. Supposedly. Some are more real than others. Let's start with the "most real" FHA refinance programs and identify who can benefit from them. FHA Streamline … [Read more...]
FHA Hope For Homeowners or FHA Short Refinance?
Many, many people each week call us who currently owe more than their house is worth asking about the FHA Hope For Homeowners program. The bad news for these homeowners is that the FHA Hope For Homeowners program seemingly doesn't really exist (not one was done in the month of October in the entire US). So if you currently owe more than your house is worth and are not late on your payments, … [Read more...]
FHA Hope for Homeowners Program, Is It Real?
More and more people are contacting us asking about the newly-announced FHA Hope for Homeowners program and how to qualify, what will work and won't work with the guidelines, etc. The good news is that FHA has issued a few press releases about the program and we have some high-level guidelines to look at as we begin to work with people to help them get qualified. The bad news is that many … [Read more...]
FHA Hope For Homeowners Program – How It Works For Arizona Homeowners
We have talked to many people recently about the new FHA Hope for Homeowners program and how it works. The objective of the program is to help homeowners who are in a negative-equity (they owe more than the house is now worth) situation and may be in a toxic adjustable rate mortgage, get a fixed rate FHA mortgage loan they can afford. The key elements of the FHA Hope For Homeowners loan … [Read more...]