FHA’s Streamline Refi Program Gets Strict
Finally!
We’ve read over a couple articles and blog posts today about the FHA’s new, stricter guideline for their streamline refinance program, due to go into effect next week. The advice from mortgage brokers is to submit your refi application A.S.A.P. in order to take advantage of the “old” requirements. Beginning on November 17, 2009, it’s going to get tougher for homeowners to refinance under the FHA’s streamline program. To that, we say “it’s about time.”
An FHA streamline refi allows existing FHA borrowers to refinance into a new FHA loan with limited terms and conditions to make the process easier.
