Regarding 30 year FHA mortgage rates?

Question by David F: Is it true that a FHA mortgage is not eligible for loan modification?
Citimortgage gave me a forebearance and lower payment until they tried getting me a loan mod. Now 4 months later when I am extremely far behind, store sale they tell me that a FHA loan, diagnosis discount which mine is, troche can not be loan modified. Is that true and what are my options now to try and get caught back up? Can I deal directly with FHA and do they have a program? Why did citi not know at the beginning before i got so far behind? Will I be able to refinance with a credit score of 530 and bad credit?

Best answer:

Answer by Bruce Qualters
your in trouble David. It could have taken them 3 1/2 months to even start processing your file.

FHA loans can be modified that does not mean that they all can be.

You could be ineligible for any number of reasons you could make to much money or you could make such little money that a reduction still wont put you in a position where repayment will be reasonable.

Unfortunately with the credit delinquencies and the 530 score there is no hope of refinancing. If there is no way you can make the payment you may be better off saving your money until foreclosure or while you attempt to get citi to take a deed in lieu or try to shortsale.

Your only solid option is to catch up the payments.

You can always contact HUD yourself they have a number for homeowners in distress and several other resources I have linked it.

I do not mean to be so dismal and I really hope that you can find some help through HUD’s programs. It is just better to be prepared for the worst.

Don’t yourself get suckered in by one of the modification for profit companies

Seriously Best of Luck

Know better? Leave your own answer in the comments!

A few nice mansion images I discovered:

mansion

Image by steffofsd
Wisconsin mansion

If you would like to see far more houses click right here…

Mansion, decease Huntington Library Art Museum

Image by DominusVobiscum
Mansion exterior – loggia, price and entry garden, Huntington Library Art Museum

More wonderful houses click here…

Namology, capsule the Science & Art of Naming Children

Article by G Kumar

More informaiton please visit here …
Related articles SIVA
Question by : Regarding 30 year FHA mortgage rates?
Hi, viagra dosage I had a option of locking the mortgage rates from the month of February 2010, decease but since I was mislead by the builder (they told me that you cannot lock the rates until 60 days prior to close for FHA loans) I could not lock the rates. When I got back to them saying the current FHA mortgage rates are higher now than what they were in the month of February as I heard that the mortgage rates went up 0.25 percentage points in the recent past. But they contacted some one in the lending department from a different bank and told me that the rates were stable at 5.25% at no cost and no points for 30 year FHA loan, but they did not provide me with any data. I want to know if I could find the historic mortgage data some where so that I can fight back or is my builder saying the truth? thanks for your inputs.

Best answer:

Answer by Bert
You won’t win this fight. Keep working all your options with many lenders and find the best deal. Find somebody you enjoy working with, since this is a stressful situation. Good luck.

What do you think? Answer below!