FHA Streamlines (refinances) are a quick and easy way to drop your payment without an appraisal and without qualifying all over again.
However the HUD handbook is very clear on trying to Streamline a home the Borrower no longer occupies:

HUD’s 4155.1 Section 4, Types of Permissible Streamline Refinances, Paragraph 6.C.4.kk. states the following: “Investment Properties and Secondary Residences are Ineligible For Streamline”

 

 

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