Zillow Advice: Refinance - Our lender doesn't offer FHA loans, so how can we take part in the new FHA short re-fi program? http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ Zillow Advice | Zillow Real Estate The program should be about ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ The program should be about as successful as the Hope 4 Homeowners.<br/><br/>Why would a lienholder write down 10% or more of a performing asset? Sat, 11 Sep 2010 17:13:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-11T17:13:00Z I&nbsp;worked at Indymac ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ I&nbsp;worked at Indymac until they closed and were bought by Metrocities and Prospect Mortgage.&nbsp; You might ck with those companies BUT I do not believe that the refi plus program will be an option - other similar programs were promoted but never happened.&nbsp; Sorry but I just don't believe the lenders are going to forgive `10% ---<br/>Have you tried a LEASEBACK PROGRAM?&nbsp; I'm finding this new loan to be able to work great!<br/>Good luck!<br/>Sincerely,<br/>Celia<br/><br/><br/><br/> Sat, 11 Sep 2010 04:11:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-11T04:11:00Z Nanas, My&nbsp;understanding&nbsp;from ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ Nanas, My&nbsp;understanding&nbsp;from the Mortgagee Letter that was issued by the Department of Housing and Administration, the Lender/Investor does not have to participate, you have to&nbsp;understand&nbsp;that FHA says i will refinance up to 115% of your loan to value but your current lender must be willing to lower your loan balance by 10% and they don't have to do that if they don't want to. Sat, 11 Sep 2010 01:02:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-11T01:02:00Z why would the lender have ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ why would the lender have to be local?&nbsp; <br/><br/>If//when you find one go for it, even if they're in Iowa. Sat, 11 Sep 2010 00:11:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-11T00:11:00Z Currently we have a 7-year, ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ Currently we have a 7-year, interest only loan.&nbsp; Fri, 10 Sep 2010 23:51:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-10T23:51:00Z That program was just introduced. ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ That program was just introduced. The borrower cannot currently have a FHA loan. The current lender must agree to discount the outstanding balance by 10%. The borrower must be current on their payments. <br/><br/>Usually, it takes at least 30 days for the lending community to understand how, or if, they will market a new product. Hang in there and check back in a month to see where the dust settled. .... Happy funding, Rudi Fri, 10 Sep 2010 23:42:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-10T23:42:00Z In order for a lender to ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ In order for a lender to offer you the FHA short re-fi your lender must be an approved FHA lender. &nbsp;Indy-Mac would have to approve the short re-fi. &nbsp;It's best that you speak to a local lender that is FHA approved to review your options.&nbsp; Fri, 10 Sep 2010 23:13:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-10T23:13:00Z I believe that technically ... http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ I believe that technically any lender can do it; as long as your servicer agrees to the write down. In reality I don't think that'll happen. But then again we've seen plenty of thigs that won't happen happen in the last couple of years. Fri, 10 Sep 2010 22:39:00 GMT http://www.zillow.com/advice-thread/Our-lender-doesn%27t-offer-FHA-loans-so-how-can-we-take-part-in-the-new-FHA-short-re-fi-program/365823/ 2010-09-10T22:39:00Z