[quote=bearishgurl]
I don’t think too many borrowers really pay attn to this.[/quote]
It’s very unlikely that anybody with an FHA loan can increase the value of their property by 21% in 3 months. Possible perhaps, but highly unlikely.
Recourse debt is PROBABLY not going to be an issue for most people, but they should be aware of what it is and get advice from someone.
Unfortunately many people who have borrowed hundreds of thousands of dollars are very confused
about their situations and have received horrible advice about what to do about their situations.
In some cases it’s a personal choice, but in many cases it’s a no brainer to refi but they are paralyzed by fear,confusion,and/or greed.
With FHA loans it is possible that MIP payments will go up, making a refi less attractive, even at a lower interest rate.
