fha secure, fha secure rate reduction plan Someone just emailed me a very interesting article about the Federal Reserve's activities last week concerning a possible bailout of Bear Stearns, one of the largest investment brokerages in the country. It seems that they are upside down with subprime mortgage debt, and experienced a run on accounts, as investors worry about the bank's liquidity. Apparently, the Fed is considering using their subprime mortgage accounts as collateral for a big cash infusion to keep this investment house from failing. Ah, this crisis could have been avoided had people been able to get FHA loans in the first place, instead of these funny money loans, also known as creative financing.

People who need to refinance now need to look at the FHA Secure program to see if they qualify for it. A 30 year fixed rate mortgage a few points below a conventional loan is so much more preferable than the ARMS or hybrids that were generated in the early 2000's. If you know someone who needs to refinance, let them know about the FHA Secure program, which may help them save their home, and their investment. It is worth looking into for anyone whose loan is going to reset this year. The FHA Secure rate reduction plan may be the best thing out there now for refinancing.