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jasytrue · Joined: 03 Jan 2009 Posts: 2 1.58 Dollars($)

what if i have a current fha arm can i still qualify for fha secure. I am current but definatley need help becaue i can't hang on anymore. Does anyone know where to go about finding an fha secure lender in CA?

jerry · Posted: Sat Jan 03, 2009 1:48 am Post subject:

Hi jasytrue,

The FHA Secure loan program will help you to refinance if you have a FHA backed loan. This facility is given to home owners who have fallen behind on their mortgage payments because of interest rates and payments on their adjustable rate mortgages. As you are current on your mortgage payments, I don't think you will get the facility of FHA secure loan.

In case if you default on your mortgage payments, then you can contact your lender and check out whether he can offer you with a FHA secure loan.

Thanks,

Jerry

Guest

thank for your input. what does default mean. I've miss a payment before, for example my payment is due on the 15th I managed to make a payment by 20-25th is that consider default. thanks. Sad

smithsussane · Posted: Sun Jan 04, 2009 11:38 pm Post subject:

Hi jas!

Welcome to forums!

As far as I know, a loan is considered to be at default if you are 30 days late. If you cannot pay off the mortgage payments on your due date, the lender will offer you a grace period of 10-15 days. During this grace period, your credit will not take a hit.

Feel free to ask if you have further queries.

Sussane

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I think I currently have a fha/freddie mac arm can i still q