You are here: Home Finances Foreclosure FHASecure
Information about all aspects of finances affected by a serious health condition. Includes income sources such as work, investments, and private and government disability programs, and expenses such as medical bills, and how to deal with financial problems.
Information about all aspects of health care from choosing a doctor and treatment, staying safe in a hospital, to end of life care. Includes how to obtain, choose and maximize health insurance policies.
Answers to your practical questions such as how to travel safely despite your health condition, how to avoid getting infected by a pet, and what to say or not say to an insurance company.

Foreclosure

FHASecure

Next » « Previous

2/8

FHASecure is a refinancing option that gives homeowners with non-FHA adjustable rate mortgages (ARMs), current or delinquent, and regardless of reset status, the ability to refinance into a FHA-insured mortgage. With FHASecure, the bank will not automatically disqualify you because you are delinquent on your loan, and the bank may offer you a second mortgage to make up the difference between the value of your property and what you owe.

So long as you are current on your mortgage and have sufficient income to make the mortgage payment, you are eligible for an FHASecure refinance.

If you are delinquent on your mortgage payments, the default must have been due to the payment shock of an interest rate reset or, in the case of an Option ARM, the "recasting" of the mortgage to fully amortizing.

By refinancing into a FHA-insured mortgage, you can expect to pay lower monthly mortgage payments.


Please share how this information is useful to you. 0 Comments

 

Post a Comment Have something to add to this topic? Contact Us.

Characters remaining:

  • Allowed markup: <a> <i> <b> <em> <u> <s> <strong> <code> <pre> <p>
    All other tags will be stripped.