Cash is King – Upside Down Mortgage Solutions

September 17, 2010

Underwater Mortgage Help – FHA Short Refinance Program

// Homeowners who have seen their home’s value drop over the past months may have options in dealing with their underwater mortgage through a new FHA short refinance program. Homeowners who might qualify for this program could see a principal reduction on their underwater mortgage and have the opportunity to refinance for an FHA home loan, which could bring a more affordable mortgage interest rate and lower monthly mortgage payment.

Many homeowners who own more on their home than their home is actually worth are obviously in a very difficult financial situation, especially in cases where a homeowner’s monthly mortgage obligation has become problematic due to the loss in property value. Interest rates on home loans are quite low at the present time but underwater homeowners have been unable to refinance for a more affordable mortgage rate and possible mortgage payment since they have negative equity in their home.

Yet, it’s hoped that this new Federal Housing Administration program will bring more options to homeowners in an underwater mortgage situation so that they may make their home loan payment more affordable and avoid foreclosure. However, there have been some concerns over whether this program will be successful due to the fact that mortgage servicers will be required to offer a principal reduction before homeowners may qualify.

Mortgage servicers have been reluctant to offer principal reductions in some cases and since another qualification of this program is that a homeowner must be current on their home loan payments, it’s believed that mortgage servicers may not offer principal reductions in cases where homeowners can still meet their mortgage payment requirements. However, homeowners who may be struggling to stay current on their home loan payments may find assistance through this short refinance opportunity as long as their mortgage servicer will work with them to provide more affordable mortgage payment options.



  1. Our home was given to us originally through Fanny Mae, I read that this program is supposed to target loans from Wall street investors so I am not sure if we would qualify.

    We bought at about 340K in Gilbert, AZ and put down over 20 percent. We now owe about 260K and the estimated home value is somewhere around 170K. We have never had any late payment. We do have another property my husband purchased before we were married that we put on rent and that home is now underwater too by at least 50K. We only kept it at the bad advice of a Realtor, we wanted to sell it in 2006 but he advised to rent it out for a year first. I think he just didn’t want another home to have to sell.

    Would we qualify for this at least on the home we live in?

    Comment by Meredith — October 2, 2010 @ 4:46 am | Reply

  2. I have Millions and Millions, I offer on behalf of Americans Up Side Down to their Banks, a “Take my Cash or get the keys” offer, if the Bank saids “no” then we document it and the consumer walks to another property, which I give them Cash on a Private Note, 30 year at competitive rates and no Credit Score or Foreclosure check! Consumers with me, get an 80% LTV or 20% Equity Loan on a property, either their home or another. Banks are Criminals, over pricing Principals and chaining people to those mortgages. How stupid does the Bank think the Middle Class American is?
    The only stopping the Middle Class is CASH, well I just stopped that problem. So, if this site is a Partriot, then help Middle Class Americans and publish this offer to America. Let’s take America back from the Banks and give your the “American Dream you can Afford today, tomorrow and for life”
    Bless America, home of the FREE, the BRAVE and honor those who have fought for our FREEDOM.

    Comment by Mark Gordon Cooper — October 8, 2010 @ 6:38 am | Reply

    • What is your info?

      Comment by Misha Davenp[ort — October 12, 2010 @ 6:32 am | Reply

  3. Yes the banks are crooks because they put people on a trial modification and at the end you received a letter saying did not qualified for the modification after a year trial. Short sale is the only option or fore closure. They are good for given people the run arounds from the partment to the partment not one has a clue. We have americans whom when they bougth their home put all their savings into the home an they are victims of the mortgates melt down and the banks can care less.\ I still scratch my head why they dont short sale the house to the current owner from whom they have made a lot of money already.

    Comment by picaso — October 30, 2010 @ 10:49 am | Reply

  4. […] Short Refinancing program is something that can really change your financial future. The process is difficult but if you are willing to put up with the tough nature of the process then you should be just fine. […]

    Pingback by Short Refinance Program — July 8, 2011 @ 4:57 am | Reply

  5. Jim and the group are great. It’s important to trust someone who has your best interest in mind. I highly recommend Upside Down Solutions!

    Comment by Wymetto — August 4, 2011 @ 7:15 pm | Reply

  6. Negative equity is a very unfortunate situation to be in. Many people I know who bought property between 2007 and 2009 have fallen into this dilema. It’s true! The banks are to blame, nobody really denies that now, but this program may help a lot of people out of a sticky situation. This program is not on offer in any other countries that I am aware of.

    Comment by Mortgage Services — January 26, 2012 @ 4:24 pm | Reply

  7. There is a program that can help you and the others. I think the company is Freedom USA Investing and they help people with underwater mortgages. They are able to put equity back in the property. The website is “refinanceunderwatermortgagehelp” {dot} com.

    The program is able help 99.9% of the people who are underwater and can put the equity back into their property. Nothing like the government programs. Which they have you jump through a bunch of hoops only to tell you, you dont qualify.

    Check it out. you got nothing to lose. It might be able to help you and others.

    Take care,

    Comment by James Young — June 13, 2012 @ 9:54 pm | Reply

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