The New FHA Secure Program

Don · #1 (**permalink**) 09-20-2007, 06:45 AM

i recently heard and read about this new program to help families save there homes but i dont have a lender who offers the program. what lenders are allowing brokers to sell the FHA secure loan programs?

florida man · #2 (**permalink**) 09-20-2007, 04:32 PM

This is because it isnt offered yet.

George 'dubya' said he was PROPOSING it.

What they REALLY need is a SHORT refi program, which lenders will purchase 95% of the appraised value at FHA rates, and the remainder can be an unsecured loan or forgiven completely.

This way the lender gets most of their money back without short sale or foreclosure, and the homeowner gets an affordable payment and stays in the home.

I guarantee you all of us would QUADRUPLE our business if lenders started offering this.

Don · #3 (**permalink**) 09-20-2007, 08:00 PM

that would be good but i guess we just have to take what we can get
since i posted this i have found a few lenders claiming to be ready to do these fha secure loans FHA Secure Loan -- Government Loans -- Michigan Mortgage is one good luck

florida man · #4 (**permalink**) 09-21-2007, 02:46 PM

Hi don.

that link is a mortgage broker site. We all know that mortgage brokers (or bank or direct lender for that matter ) would NEVER advertise a rate or product that wasnt true , right?

Do we have any direct source from FHA to verify the program is operational and being offered.

Nice website by the way. Very attractive to borrowers.

Don · #5 (**permalink**) 09-21-2007, 09:24 PM

check this news release News Release - HUD No. 07-123
its is being offered as of now