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Articles in Category: Short Refinance

February 25, 2011

Changes to FHA Refinancing Rules

By Joe Wallace

In our last blog post we discussed some changes to FHA refinancing loan rules. Effective immediately, the FHA requires all borrowers seeking streamline refinancing to make at least six mortgage payments on the property. There must also be a minimum of

 

November 29, 2010

Do I Qualify for an FHA Short Refinancing Loan?

By Joe Wallace

In 2010, the FHA made changes to its refinance program to let borrowers who owe more on conventional home loans apply for something commonly known as the FHA Short Refinance program. These FHA refinancing loans are an important option for borrowers who find themselves in difficult financial situations and know they can't avoid foreclosure by selling the home. An FHA Short Refinancing loan makes a lot of sense for borrowers in this position. But what does it take to qualify for the loan?