Refinance your ARM to a Fixed Rate Mortgage!
Is your home currently financed with an Adjustable Rate Mortgage (ARM)? Are you worried about interest rates going up? ARMtoFixed.com offers the most competitive current fixed rate programs to help you refinance your home, achieve stability and afford your monthly payments. Our goal is to help you get into a fixed rate loan at the lowest rate possible.
Federal Government Offers Refinance Assistance and Mortgage Relief Programs.
In 2007, President Bush announced that the United States Government is offering relief to homeowners who may be in financial crisis due to adjusting interest rates and increasing payments.
Recently, the Federal Goverment issued final guidance to implement expansion to the FHASecure mortgage relief program that will assist more homeowners who are struggling to keep up with their high-cost subprime adjustable rate mortgages. We have been authorized to offer homeowners the new Fixed Rate FHA Government Assisted Refinance Loan.
By taking advantage of Government Refinance Assistance, you could save thousands of dollars on your mortgage payments over the next few years and have the peace of mind of knowing that your home is financed with a low fixed rate.
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 FHASecure, the lender will not automatically disqualify you because you are delinquent on your loan.
WHO IS ELIGIBLE?
Beginning, July 14, 2008, the FHASecure program will be eligible to provide additional assistance to borrowers with adjustable rate mortgages. The government assistance will be for families who have missed up to three monthly mortgage payments over the previous 12 months or have experienced temporary economic hardship, such as loss of overtime or hospital care, as well as those who were affected by higher payments. The FHASecure program will also encourage lenders to voluntarily write down outstanding mortgage principal.
If you are current on your mortgage and have sufficient income to make the mortgage payment, you are still eligible for an FHASecure refinance. If you are delinquent, the default must have been due to the payment shock of an interest rate reset or the recasting of the mortgage to fully amortizing or other economic hardship.
By refinancing into a government assisted mortgage, you can expect to pay lower monthly mortgage payments. FHASecure can improve the quality of life for many borrowers by helping to reduce the number of mortgage foreclosures and stabilizing the housing market.
