Consumer Guides: Shorter Terms Recommended for Harp 2.0, Securing an FHA Loan After a Short Sale

Two helpful articles below:

Shorter Terms Recommended for Harp 2.0 Refinance

Refinances are soaring right now because of the new Harp 2.0 program. Borrowers who are applying may find that lenders are recommending refinancing to shorter terms. This actually started with the FHFA for several reasons and is something that borrowers should seriously consider doing. Besides gaining equity back faster, shorter mortgage terms have tremendous savings benefits for borrowers.

Securing an FHA Mortgage After a Short Sale

Many borrowers have opted for a short sale agreement over the past years prior to Harp 2.0. Now some may be in the position to purchase a home again. It is possible, but there are strict rules to securing an FHA mortgage after a short sale that lenders must follow. Before agreeing to a short sale or looking for another home after one, having an idea of whether an approval will be issued for another FHA mortgage is something all borrowers involved with this option should know.