CHANGES TO FHA STREAMLINE REFINANCING

By
Real Estate Agent with Century 21 New Millennium MD

Once again there are CHANGES TO FHA STREAMLINE REFINANCING beginning June 11, 2012, that could benefit YOU..

Dates are important.  In order to REFINANCE two stipulations are that  your mortgage must have been endorsed on or before May 31, 2009 and you must be current on your payments. 

FHA will lower its Upfront Mortgage Insurance and reduce its annual premium for certain borrowers who qualify.  This could make a difference to you and enable you to take advantage of the low interest rates.  Although some restrictions appeared to be eased in the Streamline process this does not appear to be for the Homeowner who is upside down. 

Go to the FHA website for more information on CHANGES TO FHA STREAMLINE REFINANCING and to determine what is available to YOU if you are underwater.

Homeowners who are upside down need to determine who is their Servicer to see which REFINANCE programs are available to them.   The HARP or revised HARP programs may work for you if you have a Fannie Mae or Freddie Mac backed loan.

Since these changes are not in place yet your Lender's representative may not be familiar with them.  Review the websites and dates of implementation and ask to speak to someone who does have the information you need.

This blog is for informational purposes only and is not intended as legal or tax advice. An Attorney, CPA or other specialist should be consulted for specific needs.  

Sharing information in St Mary's County MD  Margaret C. Taylor  Century 21 New Millennium REALTOR®.

I am certified with the SFR, Short Sale and Foreclosure Resource Certification, from the National Association of Realtors and CDRS, Certified Default Resolution Specialist Certification, from America's Home Rescue.

If you need real estate help I am qualified to help you buy or sell your home.

CALL or TEXT 301 481 8407 for a FREE Consultation.

ASK A QUESTION HERE RealEstate@MargaretC.com
 

Posted by

 Century 21 New MillenniumFor more informational articles go to St Mary's County, MD Real Estate Agent Subscribe to my Blog

FREE HOME SEARCH 

 

 SOUTHERN MD MAP of St Mary's, Charles and Calvert County, Maryland

Lexington Park, Great Mills, California, Hollywood, Leonardtown, Mechanicsville, Charlotte Hall, Piney Point, Valley Lee, Callaway, PAX River, and more, also Calvert and Charles County MARYLAND

  CALL ME  I CAN HELP AND I CARE

MARGARET C. TAYLOR REALTOR 301 481 8407 

 Provide YOUR HOME CRITERIA for a complete HOME SEARCH RealEstate@MargaretC.com

Office: 301 862 2169

SFR Logo    e-PRO©

Disclaimer for Short Sales and loan modifications IMPORTANT NOTICE  Your lender may not agree to change your loan and/or agree to a Short Sale.  If you stop paying your mortgage you could lose your home and damage your credit.  Seek legal and financial counsel.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the umbrella to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Mortgage / Finance
Location:
Maryland St Mary's County
Tags:
refinancing help

Comments 1 New Comment

Rainmaker
793,510
Tim Lorenz
949 874-2247
TIM LORENZ of Keller Williams Realty

We have to keep the word out there so the public is aware.

March 10, 2012 09:43 AM
Rainmaker
292,075

Margaret C. Taylor

St Marys/Calvert/Charles MD Real Estate Agent
Don't delay! Find all homes in your criteria!
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information