If a FHA mortgage is going into foreclosure because the property owner has passed. Not yet a month ago. Can I refinance the curren

Hi there,You can refinance the mortgage if you are on the title. If that's not the case the property may go into foreclosure. Do you know if there is anybody else on title?

It seems that ideally you would purchase the home from the family if qualified. The family needs to be in touch with the lending company and inform them they wish to sell the home to you. I would be delighted to assist you in this process. But again it is imperative you let them know they need to contact the bank that owns the property asap and let them know that due to the death and an inability to cover missed payments they wish to sell it to the current resident as soon as possible.I would be delighted to assist you. If you are short on funds for a down payment and closing costs, we do a lot of assistance, sometimes wherein the borrower need only come in with maybe $1500 at most. You can reach me thru my profile for further assistance.

More info needed, but first, if you inherited the home, and you are a family member, then the law protects you in that you do not need to qualify to get the loan put in your name.. The Garn-St.Germain Act allows spouses, and family members to continue to pay on the existing mortgage, and so long as the payments are made on time, they cannot foreclose or call the note due.. they must allow you to assume it.. But if you are looking to refinance it so you can lower the payment, then unfortunately, you must meet all eligibility requirements to be approved. If you leave the existing mortgage in place, you could always take in a roommate and see if you can gain enough to sustain the mortgage payments.. Of, if the home was left to you, but you cannot afford it, then sell it, take the equity at close and purchase something in your price range.. there might be multiple ways to look at this, but much more info needed to advise you.. try reaching out to a local real estate agent or real estate attorney.. they should be able to advise you properly.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

It sounds like you are describing the original loan as a reverse mortgage refinance. If this is the case, I can help you through the steps.