A short refinance allows you to change your home loan to one that’s less than what you owe on the property and may be more desirable for lenders than going through a foreclosure process. A short ...

In his blog this week, mortgage broker Dennis C. Smith of Stratis Financial explains one way you can refinance even if you’re underwater. Q.: “Are there refinance options if I am upside down on my ...

There are several types of mortgage refinance options, including rate-and-term and cash-out refinancing. The most common, rate-and-term, involves replacing your current mortgage with a new loan with a ...

In his blog this week, Morgage broker Dennis C. Smith of Stratis Financial in Huntington Beach looks at an alternative to the short sale: the short refinance. An excerpt: Q.: “We are very upside down ...

Homeowners, who are slipping on their mortgage payments and unable to change their financial position, may feel like they are in a dead-end spiral and have no option but to walk away or resort to a ...

Not only is this a huge roadblock to modifications in general, it undermines the FHA short refi program. If the second lien holder doesn’t agree to re-subordinate, there’s no refinance. Until the ...

Pete Smith, an underwater homeowner in Chicago, Ill., is frustrated by the only option available for homeowners who have negative equity on their second mortgage. “I’ve tried to find a refinance ...

On Dec. 16, 2009, the Federal Housing Administration (FHA) published Mortgagee Letter 09-52, which issued guides for mortgage originators in circumstances where borrowers receive a short payoff from ...

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