FHASecure refi program to sunset

Delinquent borrowers still have HOPE for Homeowners

The Bush administration will not continue the FHASecure mortgage refinance program for delinquent borrowers beyond 2008, but home owners who are behind on their mortgage payments may still be eligible to refinance through the recently expanded FHA HOPE for Homeowners program.

In a letter to lenders, Federal Housing Commissioner Brian Montgomery said continuing FHASecure beyond the planned Dec. 31 termination date would have led to losses for the FHA mortgage insurance fund.