| Short refinance
So i got a mod for my option arm loan about 6 months ago to a 6.25%for the remainder of the loan my new payments with P&I are $3,890.00 and we are having a hard time paying this so i went on the FHA website and found a number on there and called and spoke to a guy that say he can try to get us an FHA loan and that he can try to speak to countrywide to see if they will accept less than what is owed so that my loan can be around 420,000 instead of 590,000 depending on the appraisal and what countrywide will accept he said it's called a short refi.Is this for reals or is he giving me false hope?Supposedly if this were to happen my payment can go down to about 2,600 a month!!!
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