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Answers (5)
- Minna Reid, "MinnaReid"
- Contributions:128
Correction. You did not say you wanted out. If you want out you could consider a short sale. If you want a lower payment with an fha loan you could do a streamline refi with fha...but fha generally has their own programs..and harp and hamp won't help you.
- Linda Trautweiler, "LindaTrautweiler"
- Contributions:3
Yes, a new program just began on Monday, February 6, 2012 called HARP. http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx - Here is the link to help you understand what the program is. You may want to contact your existing mortgage lender first to see what they can offer you and then shop other banks. It's really going to help homeowner's like yourself who would like to take advantage of todays interest rates. Good luck!
- Caveat Emptor
- Contributions:500
not really. if you are only upside down by a couple (10%) percent, then you can refi without an appraisal sometimes. If someone got sick or lost their job, there might be a program for you.
if you just dont like paying double what the next guy is paying for the same house, there is no program for that.
if you just dont like paying double what the next guy is paying for the same house, there is no program for that.
- Minna Reid, "MinnaReid"
- Contributions:128
I have gotten current clients approved for short sales...however since you posted this in the fha loans category I am guessing you have an fha loan..fha has very specific guidelines for short sales. Without knowing more details of your situation it would be difficult to gauge your options. Also while fha does not specifically say you can't get into the preforeclosure sales program without being in default, they do require a default of 31+ days at close. I have also noticed it is near impossible to get into the fha pfs program without already being behind. If this is not in fact an fha loan you may very well be approved without ever missing a payment...however that conversation would require more information than you have provided.
I'm upside down with my loan.I have never been late with a payment.Is there a program to for this
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