Tag: federal housing administration

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News: President Obama to Announce New Plan for Underwater Homeowners

The Wall Street Journal reports that the President will announce a “short refinance” program on Tuesday. Under this program: banks and other creditors that write down mortgages to less than the value of the property can essentially hand off the reduced loan to the government. The process involves refinancing borrowers into loans backed by the […]


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News: FHA to Refinance “Underwater” Homeowners

FHA PRESS RELEASE FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS Effort designed to encourage principal write-downs for responsible borrowers WASHINGTON – In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today provided details on the adjustment […]


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