Showing posts with label FHA short sale rules. Show all posts
Showing posts with label FHA short sale rules. Show all posts

Thursday, September 25, 2008

Breaking News on FHA Short Refinance!


Interstingly, we've found the FHA shortest person and the tallest person for FHA in one photo. Notice they both get along and they are tall and short. This are some similarities with FHA refinance of short and tall. Let me explain.
These are a few of the refinance options that are available with federal housing administration lending and loans. The refinance that has a payoff higher than the property value will undoubtedly become an FHA short refinance.
Let's just hope that the FHA payoff department gets along with the FHA refinance department as well as the talles person and shortest person in the world do in the photo above.
FHA short refinance information can be found all over the internet these days, but where do you find a person as tall and a peson as short as that? Check your FHA refinance paperwork throughly. That will be a subject for a future mortgage article.

Sunday, August 10, 2008

Studying the FHA rules Through the FHA Handbook

The FHA rules are listed in the FHA Handbook which is called the 4155.1. This is the information that the FHA direct Endorsement Underwriter uses to approve FHA loans in Florida and mortgage loans throughout the United States. Once you reveiew the FHA oans and buy real estaet using an FHA loan, you will have the FHA rules understood as to qualifying debt to income and LTV requirements.

FHA rules in PDF form. The FHA 4155 as a PDF document online is useful for those seeking mortgage underwriting knowledge. FHA also alows a short sale called an FHA preforeclosure sale.