Searching the news today it is difficult to find anything good about the housing market, mortgages and the economy. Unless, that is, you have an existing FHA home loan and have not been late on any payments recently. What makes this good news is the FHA streamline refinance.
The FHA streamline refinance is a very unique home mortgage rescue product developed over twenty-five years ago by HUD to allow FHA home loans to be refinanced to lower interest rates without the need for every qualification point normally required by traditional loans. Not required are items such as the appraisal which could easily disqualify most borrowers today. This is important due to the declining property values experienced by almost every home owner in America today.
Another point of the FHA streamline refinance is that it does not require income verification so if the home owner’s income has gone down, as many have, since they originally qualified for the loan but they are still able to make their monthly payment on time the FHA streamline refinance still works for them. Even if you find yourself in an area full of foreclosures and other distress sales the FHA streamline refinance is still available for you. The goal of the FHA streamline refinance is to keep Americans in their homes and lower their monthly costs.
Find out if you can benefit from the FHA streamline refinance program by calling the FHA streamline experts at 888.448.2669.