Friday, October 3, 2008

Explain the FHA Short Refinance to me again please!

Allrighty then, one more time to answer the question of the FHA Short Refinance problemo. The main issues surround the ideology of the mortgage lender that has the loan now. While FHA thinks the lender will short the payoff and this happens from time to time, the majority of lenders with an FHA short refinance qualified borrower will not short the payoff.

This is the problem with the FHA refinancing taking place. The mortgage lender must short the refinancing balance for this FHA short refinance and we are still gathering data on the subject. Your FHA short refinance experiences may vary.