Some homeowners who currently have an ARM that will reset can take advantage of a new program from the Federal Housing Administration called FHASecure. It will help refinance homeowners with ARM loans and transition them into fixed-rate FHA loans. The requirements are the following:
ARM Loan with a reset between 12/2005-12/2009
Stable employment history
Income to meet the fixed payments
3% equity in the home
Not in default
Don't have late payments
For California - Total Loan amount of $362,790 or less
For more information call the lender of your choice or you may choose one from my resource page
http://www.southbayagent.com/Resource_Page/page_304546.html
Although these service providers are listed on my website, I cannot guarantee your satisfaction with their services. Others may have had successful experiences with these companies/individuals, yours might be different. Please perform your due diligence and interview all service providers before you choose one.