FHA Refinance of Borrowers in Negative Equity Positions! Here are three reasons why not to do it.
- If you plan on moving out of that house and buying another one in the next 10 years you won’t be able to qualify for a new mortgage. Here is what a bank will say. If you didn’t honor the terms and agreement of your last loon what makes me think you’ll homer the terms of this loan.
- No bank is in the business of losing money. Even if FHA gives guidelines. Each bank can have their overlaying guidelines. So they can say we are offering this product to customers but we have our own guideline.
- You never get something for nothing unless it’s the short end of the stick.
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