Help Homeowners Dump Subprime Loans, Change FHA Guidelines, Urges NAR

As a way to help homeowners stuck with subprime mortgage loans on their homes, the National Association of Realtors is strongly urging HUD to change FHA rules and waive the requirement that a homeowner’s mortgage be “current” in order to refinance into an FHA loan product. The idea is to enable homeowners to unload the subprime mortgages encumbering their homes by refinancing them utilizing FHA insured mortgages. The goal is to help homeowners who are currently finding it difficult making their payments after subprime rate adjustments avoid losing their homes. For more, see NAR urges HUD to revamp FHA program.
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