How does the new FHA streamline refinance program works?
This new program is design to assist the homeowners with sunken mortgages and even the unemployed homeowners who need help in making their payments. About 1 out of 3 will have sunken mortgage, which implies that they owe more than what the home is worth. The economist in America estimates that nearly 4.5 million homeowners have their homes in foreclosure or they have mortgage payments which are 90 days delinquent. Unemployment adds to this figure and even worsens the records.
