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SHORT RE-FI ?No Short Sale

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Thread Starter
Sophomore Member
Mar 5, 2008
Professional Status
Certified Residential Appraiser
Im hearing that theres going to be lenders doing short re-fis ????
Please let me know what you all have been hearing?

LA Woman

Jul 18, 2007
Professional Status
Certified Residential Appraiser
I haven't heard of this yet but I will ask my investors.

So this refi at the new/current market value, so they won't lose the house? Never heard of it, but what do I know, I'm just an appraiser that is almost out on the streets.


Senior Member
Nov 26, 2002
Professional Status
Certified General Appraiser
South Carolina
I think you're referring to the FHA Secure loans....

"The bill passed the House with bipartisan support on a vote of 348-72. If passed by the Senate, the program would allow the Federal Housing Administration to back refinanced loans for an increasing number of borrowers who are delinquent on payments because rates are resetting from initial teaser levels.

FHASecure offers homeowners the chance to refinance into better loans. Assuming borrowers can meet the to-be-determined loan limit, there are five criteria for FHASecure eligibility:

1- A history of on-time mortgage payments before the borrower’s ARM teaser rates expired and loans reset;
2- Interest rates must have or will reset between June 2005 and December 2009;
3- Three percent cash or equity in the home;
4- A sustained history of employment; and
5- Sufficient income to make the mortgage payment"

This could mean additional work for FHA Roster Appraisers. Then again, the 5 criteria may eliminate the majority of borrowers who stopped paying their mortgage, or who don't have 3% equity, or who lost their job.
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