| Re: FHA Secure
Hello, so are there any safe lenders that you are recommending? I live in a condo in Massachusetts. I had 100% financing that was fixed for two years. As it was about to reset, I had a lot of work done on it, and attempted to refinance. The value is now lower than what I owe on it, and no one will touch it. I have called the FHA phone number and spoke with people regarding FHA Secure. Some people there have said loan to value is not an issue, others are saying it is an issue. Some are also saying I have to be delinquent, others are saying I don't. I am not delinquent... yet. I have drained my savings to cover these increased costs, and I'm surely on my way to becoming delinquent. I am not playing the victim. I knew it was going to go up, but who would have thought that the value would go down, especially after putting in a whole new kitchen, a whole new bathroom, new carpet, and new paint throughout? I have multiple appraisers out, and multiple acquaintences of appraisers all tell me the value is accurate. It is because places in my complex are going really low because they are all foreclosures. Why don't appraisers take this into consideration? Thanks for reading and any helpful info! |