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Loan Modification

: Mortgage Lender Implode-o-Meter

FHA Says Lenders are Lining Up for its 'Short Refi' Program

By Implode-Explode Heavy Industries

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``Once investors agree to a writedown of at least 10% on the loan balance, the FHA short refi program allows the servicer to refinance the conventional loan into a new FHA-insured mortgage with a 97.75% loan-to-value ratio.'' -- Wow, 2.25% equity, slow down there, let's not be TOO cautious!

Full post as published by Mortgage Lender Implode-o-Meter on March 02, 2011 (boomark / email).

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