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Thursday, April 3, 2008
Help for Homeowner coming soonThere are changes coming from Washington which could benefit the homesteaded property owner. If the property value is
less than the mortgage value owners maybe able to refinance a FHA loan that pays off existing mortgages and is then readjusted
to the current value. So if you had a $200,000 home value and a combined Mortgage of say $240,000 the FHA would pay off the
old mortgages and than re write your new FHA mortgage for the current appraised value of $200,000
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