Comments on: New FHA Refinance Option For Troubled Borrowers http://www.fhaloanpros.com/2010/03/new-fha-refinance-option-for-troubled-borrowers/ The Unofficial Guide to FHA Loans & Mortgages Tue, 17 May 2011 20:16:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Carole http://www.fhaloanpros.com/2010/03/new-fha-refinance-option-for-troubled-borrowers/#comment-233675 Carole Mon, 25 Oct 2010 20:20:50 +0000 http://www.fhaloanpros.com/?p=2277#comment-233675 This does not help people with FHA loans that are underwater and with the inability to refinance because it is underwater. The only option I see for these people is walk away. I am almost retired and find that I will never have equity in my home if I live to be 120. If I walk away, I will have a period to save some money as a substitute for the equity I will never have. This does not help people with FHA loans that are underwater and with the inability to refinance because it is underwater. The only option I see for these people is walk away. I am almost retired and find that I will never have equity in my home if I live to be 120. If I walk away, I will have a period to save some money as a substitute for the equity I will never have.

]]> By: Ellen Robertson http://www.fhaloanpros.com/2010/03/new-fha-refinance-option-for-troubled-borrowers/#comment-96933 Ellen Robertson Wed, 31 Mar 2010 14:42:23 +0000 http://www.fhaloanpros.com/?p=2277#comment-96933 Homeowners must be current on their existing mortgage.---Most homeowners were current, until lenders wouldn't talk with them unless they were 3 months behind. Voluntary option encourages lenders and borrowers to work together, when appropriate, to restructure underwater mortgages. Because it is voluntary for lenders, not all underwater borrowers who meet criteria below will receive an FHA refinance loan.---Sure this option let lenders just tack-on the late fees, financial charges and call it a modification loan--NOW the borrower owes more than what they started and their payments are higher. Some help. Homeowners must be current on their existing mortgage.—Most homeowners were current, until lenders wouldn’t talk with them unless they were 3 months behind.

Voluntary option encourages lenders and borrowers to work together, when appropriate, to restructure underwater mortgages. Because it is voluntary for lenders, not all underwater borrowers who meet criteria below will receive an FHA refinance loan.—Sure this option let lenders just tack-on the late fees, financial charges and call it a modification loan–NOW the borrower owes more than what they started and their payments are higher.

Some help.

]]>