Anyone Heard About The FHA Short Refinance Program?

I'm hearing that the FHA short refinance program is out the gate but I don't hear of any lenders offering the short payoff and even fewer lenders giving the new Hope For Homeowners program a chance. What are people going to do to refinance ther homes with a short payoff if no one offers the FHA SHort Refinance?

This seems like much to do about nothing so far and I'm thinking that compared to a loan modification, the FHA short refinance is going nowhere.

A Day in the Life of an FHA short Payoff Department

As a FHA Short Payoff Analyst, you will be expected to perform various processing, research, and collection functions with the FHA short Payoff Support and refinancing Department, including, but not limited to, collection of shortages or replacement funds due to FHA lender once a short payoff is received, researching and reporting on refinancing loan balances, posting various monetary transactions to FHA loans. Requires knowledge of FHA refinancing departmental and company operating procedures and policies. You must be capable of communicating with several outside agents for collection of large sums of money.

• 
  Research root cause of short payoff shortages.
• 
  Collect FHA refinancing payoff shortages and replacement funds on returned payoff checks.
• 
  Track shortages and check/wire amounts daily.
• 
  Ensure complete updates of all activity completed on the accounts.
  
• Accurately process FHA loan payoffs and various monetary loan transactions.
  
• Ensure workflow routes on previous issues are completed correctly and within the service level agreement.
  
• Research short refinancing balances on paid in full loans.
  
• Prepare and mail short refinacing checks and letters for FHA mortgage origination.
  
• Must maintain all back-up in house for 90 days, then boxed and labeled correctly for off-site
• shipping.
  
• Assist in cross training on all functions within the job.
  
• Complete daily aging report for all items still outstanding.
  
• Maintain all supporting documentation for easy access including FHA refinance requests.
  
• Any processing back-up and balancing is to be turned in on time.
  
• All refinance checks not returned or applied must be accounted for and locked in the appointed
• fireproof safe daily.
  
• Backup for FHA payoff requests and mail opening.
  
• Perform any other additional refinancing responsibilities assigned daily.

FHA Short Refinance is also know as the FHA Short Refi

Many people are aware that an FHA short refinance is also called and FHA short refi. Then again, many people may not be aware of that. I have found that FHA refinance programs are beneficial for borrowers looking for a fixed rate of interest and lower payment. The problem is that the values of homes and real estate are lower than the mortgage balance. This leaves a normal fha refinance short funds to close the refi; enter the FHA short Refi.

The FHA short refi can assist by lowering the payoff to accomodate the refinance transaction. This will help a borrower who would be short funds to close on teh FHA refinance. There are many mortgage prgrams available but few are as interesting as the fha short refinance.

FHA short Refinance Lenders

Mortgage Websites and Domain Names

WWW.BUDSLOANS.COM is a guy named Bud who loans money to his buddys and Caren had a mortgage domain named WWW.CARENSLOANS.COM Let us not forget about Carol or Carol's mortgage domain and website: WWW.CAROLSLOANS.COM

I remember Carleen and her lending and loans becuase her domain is called WWW.CARLEENSLOANS.COM COntrast that with Carlos who is Carlos the bank loan officer and the mortgage domain is: WWW.CARLOSLOANS.COM

WWW.CARLSLOANS.NET is for Carl the loan officer with a website named Carl.

WWW.CARLYSLOANS.COM is Carly still the mortgage broker?

WWW.CATHERINESLOANS.COM

WWW.CATHYSLOANS.COM

WWW.CEDRICKLOANS.COM

WWW.CHARLESLOANS.COM

WWW.CHARLOANS.COM

WWW.CHRISLENDING.COM

WWW.CHRISTOPHERLOANS.COM

WWW.CHRISLOANS.NET

WWW.CHRISTINESLOANS.NET

WWW.CINDYSLOANS.COM

WWW.CLAUDIALOANS.COM

WWW.COLLEENSLOANS.COM

WWW.COURTNEYLOANS.COM

WWW.CYNDISLOANS.COM

WWW.DALEDOESLOANS.COM

WWW.DALESLOANS.COM

WWW.DAMARISLOANS.COM

WWW.DANNYSLOANS.COM

WWW.DARRINSLOANS.COM

WWW.DEANSLOANS.COM

WWW.DEBRALOANS.COM

WWW.DIANELOANS.COM

WWW.DOROTHYLOANS.COM

WWW.DRILLICKLOANS.COM

WWW.DURBINLOANS.COM

Mortgage Domains for you to choose from that have the name of "B" and loans in it. What do you know? Mortgage DOmains again! DOn't tell me loans and websites for loan officer have mortgage domains. And finally it comes full circle with Mortgage Domain Names.

Short Sale Pre-Approvals, A Quandry of Sorts...

I found this short sale and mortgage approval letter or argument persuasive. A mortgage pre-approval letter is a step above pre-qualification. A short sale pre-approval involves verifying your credit, down payment, employment history, etc. Your loan application is submitted to an underwriter and a decision is made regarding your loan application. If your loan is pre-approved, you are then issued a pre-approval letter. Getting your short sale or loan pre-approval allows you to close very quickly when you do find a house. A pre-approval can help you negotiate a better price with the seller, since being pre-approved is very close to having cash in the bank to pay for the house!

Now, let's contrast that with a short sale preapproval and the short sale preapproval letter. You can see that the various short sale approvals and short sale preapprovals offer a stark contrast to what is otherwise considered a mortgage preapproval.

Florida short sale pre-approvals

FHA 4155 and the FHA Handbook

Study the FHA rules for the 4155 and the FHA manual. This is helpful for FHA loans in Florida as well as the rest of the Country. Having the FHA Manual (the 4155.1) enables an FHA borrower to understand the FHA rules for FHA mortgage lending.

I hope this post has been helpful for those who are seeking the FHA manual orthe FHA handbook which of course contains the FHA rules for mortgage lending.

Once upon a time the fha wrote the 4155.1 and updated the fha rules in it and called it the fha manual. Some refer to it as the FHA handbook or simply as the fha 4155.1 You can call it what you want but if you are going to close an fha mortgage loan then you will have to go by the rules in the fha book.

An Intelligent Article Explaining Florida Deficiency Judgments

It all starts with a Florida Mortgage Loan. Please make sure you make ALL of your mortgage payments on-time. If you can not make your payments on-time, then contact your mortgage lender and ask for a mortgage workout. That is the subject of a future article. For now, I will discuss what happens when a borrower does not make the mortgage payments on-time.

The lender will bring a lawsuit in a judicial foreclosure state such as the state of florida. The borrower must respond to the lawsuit by answering the complaint. If the homeowner does not answer the complaint, the foreclosing lender wins a default judgment. Default judgment is a separate issue than a deficiency judgment. The deficiency judgment in florida is possible through a judicial foreclosure in the florida courts.

The debt collectors are waiting for deficiency judgments so that they can collect through garnishing wages and levy of bank accounts. Imagine going to the ATM and not being able to withdraw funds because of the deficiecny judgment in florida that a debt collector got a hold of.

Look at florida deficiency judgments as a means for the florida foreclosure to enforce their rights under a recourse loan. When the loan payments can not be made and florida forecosure ensues, the deficiency judgment is not far behind.

This not a solution that anyone is looking for. You may avoid foreclosure and avaoid the deficiency judgment whenever possible. This is what everyone would like to see, except for the debt collection industry. They of course want florida deficiency judgments and the pusuit of florida homeowners through default judgments. No one likes debt collectors and no one (else) likes deficiency judgments in florida.