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Foreclosure & Alternatives Law

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Are homeowners with interest only mortgages eligible for an FHASecure refinance?

Yes, so long as you are current on your mortgage, you are eligible for an FHASecure refinance. If you are delinquent, the default must have been due to the payment shock of an interest rate reset or, in the case of an Option ARM, the “recasting” of the mortgage to fully amortizing.