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Helping Owners Keep Their Home PDF Print E-mail

Owning a home has always been at the center of the American Dream. For many homeowners, however, that dream is threatened by foreclosure. An estimated 240,000 families can avoid foreclosure by refinancing their mortgages using the new FHA Secure. FHA will allow families with strong credit histories who had been making timely mortgage payments before their loans reset-but are now in default-to qualify for refinancing.  

WHAT IS FHASecure. FHASecure is a refinancing option that gives homeowners with non-FHA adjustable rate mortgages (ARMs), current or delinquent and regardless of reset status, the ability to refinance into a FHA-insured mortgage.  With FHASecurethe lender will not automatically disqualify you because you are delinquent on your loan, and the lender may offer you a second mortgage to make up the difference between the value of your property and what you owe. 

hud.gov 2/28/08

 
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