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Replies (7)
- Jason Anger, "FHA JAY"
- Contributions:57
Mark,
Any lender that does FHA financing should allow this. IN FACT, FHA is the only type of lending I know of nationally that will refinance a "short payoff". Most types of loans do not allow that. I would juststart calling around. Hopefully you will get a loan originator that knows what they are talking about but in my opinion.....any lender that does FHA should do this.
Any lender that does FHA financing should allow this. IN FACT, FHA is the only type of lending I know of nationally that will refinance a "short payoff". Most types of loans do not allow that. I would juststart calling around. Hopefully you will get a loan originator that knows what they are talking about but in my opinion.....any lender that does FHA should do this.
- Clay Branch, "Georgia Loans"
- Contributions:7835
About 2 weeks ago while watching 1 of the money shows, I believe it was stated that 38 of these loans have closed. It will be hard to get the current lender to agree to the write off on a performing loan.
- Andrew Adams, "203K Specialist"
- Contributions:9349
Well Jason...Your opinion is not worth a hole lot! Have you ever heard of a lender Overlay?
I have a number of outlets for FHA and none of them underwrite direct to FHA guides as the FHA guides are written...Every one of them has overlays and I am willing to bet the majority of Loan originators on hear would say the same thing.
I have a number of outlets for FHA and none of them underwrite direct to FHA guides as the FHA guides are written...Every one of them has overlays and I am willing to bet the majority of Loan originators on hear would say the same thing.
- Justin Coleman, "UtahLoanProfessional"
- Contributions:72
Right there with you Andrew. It is the same as the Freddie Refinance Relief WITH mortgage insurance. Of course Freddie will buy and sponsors the loan program, but there is not an investor I know of that will buy it.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
The Bill to eliminate this just passed the house yesterday. The senate will probably concur. This program could be history by the end of the month, or sooner. LINK: http://www.dsnews.com/articles/house-committee-votes-to-kill-two-housing-programs-delays-decision-on-2011-03-03
Happy funding, Rudi
Happy funding, Rudi
- Reba Haas, "reba_haas"
- Contributions:620
I was just about to post a similar link showing that this program will be scratched. http://www.dsnews.com/articles/house-committee-votes-to-kill-two-housing-programs-delays-decision-on-2011-03-03
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Sorry 'bout that Reba.
Happy funding, Rudi
Happy funding, Rudi
FHA refi program
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- 5.0/5.0
- (1 review)
Contributions:222Are there any lenders/brokers that support this program in S. E. Michigan? If so, please let me know.
Thanks much,
Mark
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