Effective July 2, 2009 FHA will refinance Hospital Loans WITHOUT THE REQUIREMENT FOR REHAB OR NEW CONSTRUCTION.
THE NEW PROGRAM IS FHA 242/FHA 223(F) HOSPITAL REFINANCE
NO CASH OUT
THE INTEREST RATE ON THE DEBT MUST HAVE INCREASE BY AT LEAST 1% SINCE DEC. 2008 OR WILL INCREASE WITHOUT A FHA 242 HOSPITAL REFINANCE LOAN.
