SellingNorthernNV

Quality Real Estate News and Market Data

FHA Short Refi available for non-FHA borrowers with partial debt forgiveness

Josh Talayka | June 27, 2011

The Federal Housing Administration (FHA) offers qualified borrowers with non-FHA loans the option of refinancing into an FHA-insured mortgage. The current lender must also agree to write of a minimum of 10% of the current unpaid principle balance. In addition, all other lien holders must consent to allow the borrower to participate.

Treasury sets guidelines on “Short Sales”

Josh Talayka | February 9, 2010

On Monday November 30, 2009, the U.S. Treasure set guidelines on a plan for mortgage companies to speed up “Short Sales” and other loan modification alternatives. These new guidelines will become effective on April 5, 2010