The Florida real estate market was among the first hit from the recent economic downturn. Left in complete disarray, the Sunshine State housing crisis led to a substantial amount of foreclosures and upside down mortgages. Regions such as Lee County, Palm Beach County and Broward County experienced the full-scale devastation of plummeting property values, rising unemployment rates and a shattering halt in home sales.

Florida short refinancing is an M3 Strategy specialty. Our loss mitigation experts, nationally recognized mortgage specialists and legal professionals can offer Florida homeowners a proven solution to negative equity, inflating interest rates and overall unstable loan situations.

Whether a primary residence, second home or investment property, M3 Strategy can walk you through the process of a short refinance in Florida. We negotiate with lenders on your behalf and help you secure the peace of mind you deserve.

A Closer Look at Florida Short Refinancing

Depending on your situation, a Florida short refinance may be the ticket to a much better loan, in which you obtain a short payoff / settlement to refinance from your existing lender. The short payoff / settlement to refinance matches the current market value of your home, which in turn allows you to qualify for a new FHA loan.

With a short refinance in Florida, the new loan can be financed through your existing lender or a new lender. Those who are eligible for Florida short refinancing can successfully reduce their monthly mortgage payments, reverse situation of negative home equity and get out from under a ballooning ARM.

Florida Short Refinancing -- Eligibility Criteria

Making the grade for a short payoff / settlement to refinance in Florida requires that you meet specific criteria, including no late mortgage payments in the past 12 months and a credit score of at least 620. You will also need to submit employment records and proof of income to demonstrate the ability to continue honoring your mortgage payments.

For more information or to find out if you qualify for a Florida short refinance, contact M3 Strategy at any time for a free assessment of your mortgage situation. Even if you do not qualify for a short refinance, we specialize in a variety of loss mitigation services and can identify the right strategy for you.

Short Refinance in Florida -- FHA Lending Limits in the Sunshine State

A short list of Florida FHA lending limits is provided below, arranged by county. For a full account of lending limits in Florida, refer to the FHA website.


ALACHUA

Singe Family $271,050
Duplex $347,000
Triplex $419,425
Four-plex $521,250

BAKER

Singe Family $387,500
Duplex $496,050
Triplex $599,600
Four-plex $745,200

BREVARD

Singe Family $291,250
Duplex $372,850
Triplex $450,700
Four-plex $560,100

BROWARD

Singe Family $423,750
Duplex $542,450
Triplex $655,700
Four-plex $814,900

CLAY

Singe Family $387,500
Duplex $496,050
Triplex $599,600
Four-plex $745,200

HERNANDO

Singe Family $292,500
Duplex $374,450
Triplex $452,600
Four-plex $562,500

LEE

Singe Family $356,250
Duplex $456,050
Triplex $551,250
Four-plex $685,100

PALM BEACH

Singe Family $423,750
Duplex $542,450
Triplex $655,700
Four-plex $814,900

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