FHA Short Refinancing is the process of refinancing your current mortgage(s) into a new FHA 30 year fixed rate mortgage for up to 97.75% of your homes current value (many times closing costs may be included). Many lenders are accepting short refinance payoffs because it is more cost effective than foreclosure proceedings. Foreclosure is an expensive solution for a lender for loans in default; not only does the lender not receive payments for up to a year, but they may lose out on fees associated with the procedure. A FHA Short Refinance Payoff is just one of several alternatives that might be more cost effective for your lender(s). FHA Short Refinance also allows borrowers to keep their home and allows them to reduce to loan balance to current market value.
Asian Journal- The Filipino-American Community Newspaper
General Interest Atty. Kenneth Go
Atty. Kenneth Go
I was successful in getting my money back from a Loan Modification Lawyer
CALLER: Good morning... I have a questions and also requesting advise how to proceed regarding issues on my house.
1) Oct 2008 I had a loan modification with a Law office. unfortunately, I had not given an update on my case, I had already paid the $2500.00 in full.
Foreclosure vs. Short Sale
Who is to blame, unethical and dishonest lenders who has no conscience and care only about their own pockets. Now, you know how to be careful right ? Very expensive lesson for all of you, for some learn from this.
‘Channel 5 News Investigates’ on loan modification companies
There are thousands of homeowners facing foreclosure in California who are desperately trying to hold on to their homes. Many loan modification companies are now advertising that they can help those homeowners.
But CBS 5 Investigates finds some consumers who signed up with those companies, paying thousands of dollars, say they received minimal help if any and say their money was wasted.
More foreclosure rescue scams information
I thought everyone should read this, to prove that I am not the only one that is being cautiously doubtful about these Loan Modification Companies. This article is from Kenneth Harvey 1/18/2009 LA Times, distributed by the Washington Post Writers Group.
You’ve probably seen the incessant TV and Internet pitches—" We can stop your Foreclosure!"— offering hope to millions of homeowners who are behind on their mortgage payments or heading to foreclosure.
