The Tony Croft Team at Barclay Funding Now Specializing in FHA Refinancing

Edgewater, NJ, October 23, 2009 --(PR.com)-- Effective January 1, 2010, getting approved for the popular FHA-to-FHA refinance program will be much more difficult.

Here are the 3 main areas where the FHA is toughening up
1. FHA homeowners must now be employed at the time of application
2. FHA homeowners must now verify cash needed at closing
3. FHA homeowners must now commission a full appraisal in order to add “roll in” closing costs to the refinance

This is a huge change compared to the current FHA Streamline Refinance guidelines. Starting next year, the FHA will start to deny streamline refinance requests on the basis of income, employment, assets, and appraised value.

What does this mean to a New Jersey homeowner with an FHA mortgage?

If you have a FHA Mortgage and are thinking of refinancing then you need to act now. You have an FHA expert right in Edgewater - Tony Croft - to help navigate you through the changes and new requirements. Call 201-943-6800 to schedule your free strategy session today.

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