FHA Short Refinance Programs falls Short

WASHINGTON – Feb. 8, 2011 – A government program intended to help hundreds of thousands of underwater homeowners is off to a slow start.

Since its September launch, only 38 homeowners have refinanced mortgages through the FHA Short Refinance program, backed with $11 billion in federal funds. The Federal Housing Administration has said the program could eventually help 500,000 to 1.5 million borrowers.

The program requires mortgage owners to forgive at least 10 percent of a borrower’s unpaid principal so that the loan can be refinanced into an FHA loan at a lower interest rate. The goal: keep homeowners out of foreclosure even if they owe more on their homes than the homes are worth.

FHA Loan Guidelines

If you have talked to anyone about getting a mortgage recently you’ve probably heard about FHA loans or “Government Backed” or “Government insured loans”. A common misconception is that these loans are only for very low income people who can’t get a traditional loan from a bank, or first time home buyers, but this is not the case….

Uncle Sam wants You… to qualify!

There are very broad criteria for FHA insured loans that just about many people can qualify for. This doesn’t mean everyone does though. For example, FHA loans have more liberal credit guidelines, unlike many other loan products, but there are still criteria that need to be met.
The Background of FHA Loans…

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7 Tips to Negotiate like a Pro when buying a home

7 Tips to Buy and Negotiate like a PRO…be a Seller’s Worst Nightmare!!


If you plan on purchasing a 1st home, or any home for that matter, there are things you NEED to know…

I’m sure you’ve heard the phrase “Knowledge is power” before, and there is some truth to it, but Knowledge applied is the only way you really benefit.

I want to share some helpful tips and techniques I use for my Buyers in everyday transactions and negotiations to help you get the most for your money and cover your “assets” in the process.


Imagine for a moment… you are about to buy your 1st home. You have taken the time to learn more about your financial situation and comfort level in your housing budget…

…you know your “goals” for purchasing a home and a great understanding of what kind of home you need and what you will pay for it…

. Coral Shores Realty's Dustin Miller 6876 West Sample Road, Coral Springs, FL 33067-4283 (954) 907-4773 Realtors Coral Springs Locations Real Estate Directory