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FHA will insure mortgages where the lender reduces the balance owed by at least 10%. P2CFG negotiates this reduction with the lenders for his clients.

ELIGIBILITY: This program is for well qualified borrowers only.

a) Mortgage payments must be current. (for the last twelve (12) CONSECUTIVE months), and not be currently insured by FHA


b) Middle credit score at least equal to 640, higher scores preferred.

c) Full income documentation. Two years prior and Year-To-Date. 

d) Mortgage owed must be greater  than the current property value.

e) Property must be principal residence. (vacation or investment excluded)

f) Some form of hardship such as a decline of their income or high debt-to-income ratio, ARM reset to higher rate, must be present.


A successful short pay-off and refinance involves two overlaping transactions 
a) First transaction: Short Pay-Off Negotiation with the current lender(s) - This step is conducted by (P2CFG) who negotiates with the lender to reduce the principal balance. This negotiation requires a separate Agreement. A success fee is charged to the homeowner, and must be paid from his own funds. The terms are part of the Agreement. Required documentation

b) Second transaction: Refinancing with a new lender- This is a normal refinancing transaction. The home owner secures a new mortgage based on standard FHA lending parameters. This new mortgage will be one that the home owner can afford, and that is based on the current appraised value. New 30-YEAR  FIXED FHA  insured mortgage. Application Checklist


The complexity of this program explains why only a few companies have the expertise to handle these transactions. For the homeowner, finding the right company to both negotiate with the current lender(s) and co-ordinate the refinancing is critical.  Apply Now