many out there who will just waste your time and money trying to learn how to get your foreclosure refinanced while you slide closer and closer to a sale date and the real possibility of losing your home. On the other hand, the right lender can help you lay out other options to save the equity in your home even if you don't qualify for a foreclosure refinance. We have a special lender for your special situation, and you may have a fighting chance of refinancing in foreclosure and saving your home. 12. SHORT - REFINANCE - (GOVERNMENT-BACKED STREAMLINE REFINANCE PROGRAMS)
FHA STREAMLINE REFINANCE PROGRAM
The Federal Housing Administration (FHA) offers a streamline refinance program that requires reduced qualification requirements as compared to a traditional mortgage refinance, saving current FHA borrowers time and money. The FHA Streamline Refinance Program does not require an appraisal and there is no loan-to-value (LTV) ratio requirement so it is very useful if you are underwater on your mortgage. The program does not require borrowers to provide their credit report or verify their income or assets although lenders may have their own borrower qualification requirements. 13. FHA REFINANCE FOR BORROWERS WITH NEGATIVE EQUITY (SHORT REFINANCE) The FHA Short Refinance program is designed for borrowers with FHA-insured mortgages who are not behind on their mortgage payments but whose mortgages are greater than the value of their properties. FHA Short Refinance is designed to help homeowners refinance into more affordable, more stable FHA-insured mortgage. If you have an FHA loan, call the FHA National Servicing Center at (877) 622-8525.
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