If you are still looking for a lender to complete your Short Refi, we have financed these transactions in the past & would be happy to assist you.
Please feel free to contact me directly if you have any further questions, I'd be glad to help.
All the best,
Roswell Moore, CMPS
Certified Mortgage Planner
We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline refinance loans (NO minimum credit score, NO appraisal required), HARP 2.0 - No Appraisal Required for Refinance for Underwater Home Values, HomePath, Investor Friendly (10 financed properties), VA, VA Refinance loans (NO appraisal required on IRRRL loans), USDA loans, Jumbo loans, Conventional loans, plus, we allow Escrow Hold-Backs!
FHA has a short refinance program. The mortgage insurance is very expensive, though.
I suggest you contact a local mortgage professional to review your options.
Elva A. Wormley
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
A lot, (and I mean a LOT!) of people have tried to find ways to save their homes, and save their credit; but mostly, their homes.
We have seen some pretty creative ideas; all of which didn't work:
The main reason why they didn't work, was the irrefutable, insurmountable fact of the Market Value of their home.
The current thinking is that the Lenders will not lend more than 80% of the APPRAISED VALUE of the property.
You can extrapolate the different possibilities of this, depending upon whether you are a Buyer, a Seller, or a Re-Financer.
Here's my number one question: Have you talked to the LOSS MITIGATION DEPARTMENT at your Lender?
Good luck and may God bless