Stop Foreclosure Florida - Refinance Into a FHA Secure Home Loan

STOP YOUR FLORIDA FORECLOSURE! If your ARM loan has reset to a higher rate, we can help. The FHA plans on helping 250,000 homeowners at risk, are you one of them? Refinance with FHA even with late payments Call or apply online to save your home

Stop Foreclosure with a Florida FHA mortgage refinance loan

The Florida FHA Secure Progam:

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"We are helping homeowners stop foreclosure and we can help you too."

Are you tired of hearing all the negative press about the real estate market in your area? Bad mortgages and foreclosures take center stage in the local news as well as what kind of regulation the government might try to put on lending institutions. Well, it is time to show that there are still a lot of positive things happening even as the market gets worse.

The major contributing factor to the current mortgage mess is this. A few years ago, mortgage lenders could sell 2yr Fixed 28yr ARMs (adjustable rate mortgages) on the 2ndary market and make a killing. This type of ARM was traditionally sold to real estate investors and sub prime borrowers.

The idea behind the 2 year fixed ARM was to offer it instead of the more expensive 30 year fixed rate mortgage to a low qualifying borrower in order to get a lower rate. This would give the borrower some time to get their credit and finances back on track in order to qualify for better financing programs in the future.

This became a problem when the loan officers would just close the deal and move on without helping the borrower move into better permanent financing. Borrowers would often miss the opportunity to improve their credit standing during the first two years. When the note adjusts, the borrowers 7% sub-prime rate and low payment could jump to 15% and the borrower gets stuck and has to make a tough choice, pay the necessities or pay the mortgage.

We do not believe that the lenders built the 2/28 ARM as a full solution for borrowers. It is really just acting as a Band-Aid loan program for people who were in the sub prime market or for real estate investors who could get a lower rate knowing they would sell the property or refinance it for cash out in a year or so. One way or another, the idea was to get rid of the 2 2/28 ARM for more stable financing.

There is hope and a plan for everyone who has a high interest rate or has a ARM loan that is adjusting. We get phone calls from people everyday. "Help my mortgage payment has doubled and I am 3 months behind." We are helping people keep their homes and we can help you too.

The FHA recently introduced FHA Secured financing. This new program was designed specifically to help people who are late on mortgage payments. Yes, even if they are late on their mortgage, they will still be able to get financing! It gets even better, if they are running late on their mortgage and are upside down (meaning the mortgage balance is higher than the home value), this product can allow the current lender to FORGIVE A PORTION OF THE PRINCIPAL LOAN BALANCE OWED!!
A few of my borrowers who got low rate ARMS are now into 30 YR fixed mortgage since they made their payments on time.