Category: underwater
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Short Refinance Program
This is for borrowers who are upside down and are NOT currently financed with FHA. Short Refi / FHA Refinance of Borrowers in Negative Equity Positions • 560 Minimum credit score required • The borrower must be current on the existing mortgage to be refinanced • All borrower(s) must occupy the subject property as their…
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Who Owns My Home Mortgage Loan?
Fannie Mae? Freddie Mac? Is my loan held privately or owned by my bank in their portfolio loan program? What about FHA? Most of the mortgage accounts funded prior to 2009 are going to be either FHA, Fannie Mae, or Freddie Mac backed / owned. Servicing lenders manage your account and may have an ownership…
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HARP Underwater Refinance & Closing Case Studies
Underwater Mortgages Updates to the HARP Refinance Program 1.8 million homeowners now eligible Refinance any Fannie Mae or Freddie Mac backed mortgage Loan No Appraisal Required any LTV with HARP 2.0 Even if you owe 2x the property value if the loan is paid up to date we can refinance it. Huge rate and fee discounts…