December 4, 2020

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FHA Short Refinancing Loans For Underwater Borrowers With Conventional Mortgages

Being “underwater” on a home loan means owing more on the property than the home is worth. In the last few years, this is a problem faced by more home owners across the nation due to the housing market crisis.

In response to this, the Federal Housing Administration took action. In 2010, the FHA published a mortgagee letter outlining details of a plan called “FHA Refinance of Borrowers in Negative Equity Positions

Joe Wallace - Staff Writer

By Joe Wallace

March 16, 2012

Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for for (8) years and is currently the Associate Editor for

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About was launched in 2010 by seasoned mortgage professionals wanting to educate homebuyers about the guidelines for FHA insured mortgage loans. Popular FHA topics include credit requirements, FHA loan limits, mortgage insurance premiums, closing costs and many more. The authors have written thousands of blogs specific to FHA mortgages and the site has substantially increased readership over the years and has become known for its “FHA News and Views”.

5850 San Felipe Suite #500, Houston, TX 77057 281-398-6111. is privately funded and is not a government agency.

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