Comments on: FHA Hope For Homeowners or FHA Short Refinance? http://www.arizonamortgageteam.com/fha-hope-for-homeowners-or-fha-short-refinance/ Arizona Mortgage Rates. Refinance FHA, VA and Jumbo Mortgage Loans. Fri, 03 Feb 2012 22:46:49 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Justin McHood http://www.arizonamortgageteam.com/fha-hope-for-homeowners-or-fha-short-refinance/#comment-2536 Justin McHood Tue, 19 Jan 2010 22:14:43 +0000 http://www.arizonamortgageteam.com/?p=181#comment-2536 @Robert, The first step is to get on the phone with your current lender and see if you can get them to agree to a short payoff. To my knowledge, they are primarily done for primary residences -- but they can also be done for investment property. No matter what though, the first step is to get your current lender to agree to accept less than what is currently owed. Here is a recent post that may help: http://www.arizonamortgageteam.com/short-refinance-is-it-possible/ Good luck! Justin @Robert,

The first step is to get on the phone with your current lender and see if you can get them to agree to a short payoff.

To my knowledge, they are primarily done for primary residences — but they can also be done for investment property.

No matter what though, the first step is to get your current lender to agree to accept less than what is currently owed.

Here is a recent post that may help:
http://www.arizonamortgageteam.com/short-refinance-is-it-possible/

Good luck!
Justin

]]> By: Robert McMurtrie http://www.arizonamortgageteam.com/fha-hope-for-homeowners-or-fha-short-refinance/#comment-2535 Robert McMurtrie Tue, 19 Jan 2010 21:49:31 +0000 http://www.arizonamortgageteam.com/?p=181#comment-2535 Is the FHA short refinance program only for primary resudence or can it be use for investment property as well? If it can be used for investment property, what needs to be done to get the process started Thanks, Bob Is the FHA short refinance program only for primary resudence or can it be use for investment property as well? If it can be used for investment property, what needs to be done to get the process started
Thanks,
Bob

]]> By: rick supple http://www.arizonamortgageteam.com/fha-hope-for-homeowners-or-fha-short-refinance/#comment-1221 rick supple Thu, 23 Apr 2009 14:51:09 +0000 http://www.arizonamortgageteam.com/?p=181#comment-1221 Hi, I'm a mortgage loan officer in NM. A client of mine has a daughter in Phoenix who may benefit from a short refi. Her current loan is FHA, 1 +year seasoned, balance of $175K, homes in her area have dropped dramatically in value. She has been current on her payments. What other parameters does the short refi require to approve ie. credit score, dti, reserves. Thanks for the info. In the meantime, her name is Vanessa Trevino 602-909-4350. Hi, I’m a mortgage loan officer in NM. A client of mine has a daughter in Phoenix who may benefit from a short refi. Her current loan is FHA, 1 +year seasoned, balance of $175K, homes in her area have dropped dramatically in value. She has been current on her payments. What other parameters does the short refi require to approve ie. credit score, dti, reserves. Thanks for the info.
In the meantime, her name is Vanessa Trevino 602-909-4350.

]]> By: Arizona Mortage Rates For November 7 2008 — Phoenix Area Real Estate Blog http://www.arizonamortgageteam.com/fha-hope-for-homeowners-or-fha-short-refinance/#comment-257 Arizona Mortage Rates For November 7 2008 — Phoenix Area Real Estate Blog Fri, 07 Nov 2008 17:51:56 +0000 http://www.arizonamortgageteam.com/?p=181#comment-257 [...] After talking to hundreds of homeowners who owe more than their house is worth over the last year about FHA Secure, FHA Hope for Homeowners and Loan Modifications - we have come up with another possible solution for people who currently owe more than their house is worth — the FHA Short Refinance. [...] [...] After talking to hundreds of homeowners who owe more than their house is worth over the last year about FHA Secure, FHA Hope for Homeowners and Loan Modifications – we have come up with another possible solution for people who currently owe more than their house is worth — the FHA Short Refinance. [...]

]]>