The recent discussions this weekend regarding the government bailout of what would appear to be the banking industry and not the average American has some wondering about the affects of the Housing Legislation for FHA short refinances. The government will be bailout out the banks with $700 billion and then bailout out again with the FHA short refinance program. To me that seems like a double bailout and at the expense of the FHA refinance program. The part that I am viewing favorably is when the FHA borrower gets a discounted payoff or short payoff and that is what is really the focus of the meaning of blog.
FHA short refinances are soon to be a discussion topic. I will be watching the housing legislation passing this weekend and report more on how that will affect those seeking to refinance through a short payoff under the FHA program.
FHA Short Refinance commentary is appreciated. Thank you.