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Loan Modification

: Mortgage Lender Implode-o-Meter

The Scope: JP Morgan Estimates Nearly 9m Mortgages Eligible for New FHA Refinancing

By Implode-Explode Heavy Industries

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"There is $870bn worth of underwater mortgages that could be eligible for the new Federal Housing Administration (FHA) short refinance program announced last week, according to JPMorgan. Additionally, there could be as many as 8.9m loans eligible for the program, worth an aggregate balance of $2.3trn, which includes underwater borrowers and mortgages eligible for the Home Affordable Modification Program (HAMP)."

Full post as published by Mortgage Lender Implode-o-Meter on August 09, 2010 (boomark / email).

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