Arizona Loan Modification

[loana411]

Another day, another change that some investors are now requiring — this one for people who are currently in a VA loan and want to do a VA streamline refinance.

For as long as I can remember, the VA streamline refinance (aka the VA IRRRL program) did not require an appraisal for the borrower to participate in the VA streamline program and get a lower interest rate.

But that may be changing. Or, maybe a better way to say it is that it for sure is changing for some lenders.

As of recently, some lenders who lend money on these loans to require some form of an appraisal. Some lenders are now requiring a full blown appraisal, some are only requiring a drive-by appraisal — but the point is that many are now requiring it where before they did not.

[cole]

I see many turning to these loan modification programs as a better alternative to the old adjustable rate mortgages. I personally have given thought to doing this since I have a 2 year arm. Being a first time home buyer my interest rate is up past 10%

Cole Justin
Arizona Insurance Agent