Short Payoff Principal Reduction - FHA & Cal FHA Refinance

New:  Short Payoff Principal Reduction - FHA & Cal FHA Refinance

Both the FHA and Cal FHA have special programs reserved for well qualified borrowers with credit scores greater than 620 refinancing their principal residence, and fully documenting their income, assets, and employment.
What is a short pay-off (also known as a discounted pay-off)?

The short payoff refinance is a principal reduction program coupled with a refinancing. Unlike loan modifications and refinancing promoted by the "Making Home Affordable," the reduction is permanent and is not limited to Fannie Mae and Freddie Mac mortgages. If the balance is greater than 115% (FHA) or 125% (Cal FHA) of the appraised value, or you do not have a Fannie or Freddie owned mortgage, you might be eligible.

Call Maurice Cohn of Gold Coast Funding at 949-263-8572 for more information, or with any questions about short payoff programs.

The situation with banks and their lending and foreclosure guidelines is ever-changing:  don't take any chances with your home and your financial future. We are very experienced in all phases of workouts. To set-up a private consultation, call us at 949-285-1207. All information is held in the strictest of confidence.

 

Call Bruce Clark, First Team Real Estate

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Direct: 949-285-1207
bruce@bruceclarkhomes.com
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