How about this scenario; You lost your job, your credit is slowly declining and your house is worth 30,000 less then when you bought it?
How good does a refinance sound at this point? Too bad it couldn’t be more out of reach, right? Maybe not. If that is your scenario and you currently hold an FHA mortgage, you can streamline it. With an FHA Streamline refinance, you can refinance your home even with all these factors working against you. It’s a great tool for those of who might not normally be able to improve their current mortgage situation.
For more, check out this article by Dan Green.