The New FHA Secure
Refinance Program
On August 31, 2007,
President Bush proposed the new FHA Secure Refinance
Program. This program is designed to help homeowners
into fixed rate mortgages through the FHA to reduce
their monthly mortgage payments and to eliminate
the chance that their mortgage payments will increase
in the future.
In recent years,
many borrowers have been put into adjustable rate
mortgages (ARM’s), deferred interest mortgages
(called “Option ARM’s”), and
subprime mortgages with the promise that initial
mortgage payments would be low. Unfortunately,
many of those mortgages are now adjusting into
much higher monthly payments, making it difficult
for homeowners to make ends meet. This is why
the president is acting now in order to assist
homeowners.
“Owning
a home has always been at the center of the American
Dream. Together with the United States Congress
I will continue working to help make that dream
a reality for more of our citizens.” President
George W. Bush, August 31, 2007.
If you are in one
of these mortgages, the FHA may be able to help
you.
Apply
Now and you will be able to learn if you qualify
to refinance your adjustable rate mortgage into
a fixed FHA mortgage with no out of pocket closing
costs. This means that with the help of FHA, you
may be able to refinance your home into a lower
monthly payment and be assured that your monthly
principle and interest payments will never increase.
With the number of
homeowners in these ARM’s, it is important
for you to act quickly, so please, Apply
Now so that our FHA Mortgage Specialists can
help you, today.
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