E-Mail 'Proposed FHA "Short Refinance" Program Facing Obstacles' To A Friend

by Karen Lawson
April 16th, 2010

Email a copy of 'Proposed FHA "Short Refinance" Program Facing Obstacles' to a friend

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This entry was posted on Friday, April 16th, 2010 at 3:26 pm and is filed under . You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Proposed FHA “Short Refinance” Program Facing Obstacles”

  1. Blorg Says:

    Good write-up. It points out the major shortfalls of this program, which is basically a joke.

    As long as participaton in mortgage write-downs by lenders is voluntary, they have no incentive to write-down. I called my lender and they said no way.

    The banks got their bailout, why should they give anything back?

  2. Cynthia Burns Says:

    Like many others that share this same frustration is that there seems to be no program to help those that are current with their mortgage, but stuck in high intrest loans and can’t refinance. Why not be proactive in preventing a home owner from getting to the point where they can’t make the payments anymore? I just feel that its very unfair to be stuck in a high mortgage rate and can’t refinance because the home value has dropped.
    I believe forclosures will continue to rise as more people continue to struggle in making these payments.
    True statement in saying, what’s the incentive to write-down loans by lenders since they’ve been bailed out? But now days, owning a home is not the ‘american dream’ anymore, so what’s the incentive to continue struggling tying to keep up the payments for a home?

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