[Moe Bedard]

The existing first mortgage must accept the proceeds of the H4H loan as full settlement of all outstanding indebtedness.

Existing subordinate lenders must release their outstanding mortgage liens.

which before going through the process, both of these issues would need to be negotiated and put in place between you and the lender.


unfortunately with the FHA Secure it has been around since July 2008 and we have not had any reported successes with that program.........and the investor on the loan would still need to accept a short payoff.....which we are not seeing them participate in..........this participation would be up to the investor on your loan and would also need to be addressed by Countrywide to see if that is a possibility for you on your loan.........


Does it matter that the value of my home is now less than what I still owe?

Not to FHA but the mortgage lender considering the refinance would have to be willing to accept a short payoff on the existing loan OR to hold a second mortgage to make up the difference needed to pay off the existing mortgage and the home's value.



If I have first and second mortgages can both loans be included in FHASecure?

Yes, but only if the combined amount is within the FHA geographical loan limit. If the combined amount exceeds the FHA loan limit and/or the loan-to value limit, your lender could offer you a second mortgage to make up the difference.

Both options are still up to the investor on the loan...........this is the participation that we have not seen yet...........



Believe me I feel your pain...................the investors on Chase loans have not consider either program yet..........so most here are in the exact same boat as you.