FHA launches Short Refi program

Tuesday - 9/14/2010, 10:34am EDT

Vicki Bott, Deputy Assistant Secretary, Single Family Housing, FHA

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Homeowners who owe more on their mortgages than their homes are worth are getting additional help from the Department of Housing and Urban Development. The agency has launched a new program giving homeowners that qualify the chance to refinance their mortgages. Vicki Bott is the Deputy Assistant Secretary for Single Family Housing. She explains how the program works, and how it will affect the Federal Housing Administration.