Myth: Do you have to be late on your payments to get approved for a loan modification company ?
Fact: No, you do not have to be late, but it helps. You will get more attention and help from your servicer if you’re late.
I have seen it done many times when a home owner was not behind, but it is a lot more difficult.
If a person plans on trying it themselves get a thick skin to do this, as persistence is key. It’s not unusual for the mod process to take 3-6 months of calls, faxes, emails, letters and more to get help before you get relief. On average expect to spend 25 to 30 hours of your time and frustration.
If a person doesn’t have the time or energy to tackle the ever changing minds of the mortgage company, contact an Attorney Backed mortgage modification Company as they can complete this process quicker and get better rates then you as a home owner could ever negotiate. The money is well worth it, as well as the sanity to know a professional with a team of loan mod blog will be acting on your behalf and harassing the bank for you!
Myth: Hope Now programs are here to protect your best interests.
Fact: Kind of.
I say “kind of” because they help mostly with counseling but they only go half way with their assistance for the struggling homeowners. This program does not yet have servicer participating and it was rolled out in 2008. So the reality is that you talk to a government employee that is really going to refer you out to talk to someone else. In the end, the home owner may be better off contacting professional help in this area since the program is not fully functioning.
Myth: Your mortgage company will give you a principle reduction on your loan.
Fact: Yes, this is true but not necessarily guaranteed.
This is usually done when a borrower has a 1st and 2nd mortgage and the 2nd is negotiated down or settled for less than is actually owed on the note. Obtaining a principle reduction on the first mortgage is much more difficult and there are no guidelines that state when one is warranted. The banks are being to do more of these reductions; however, there has been no word from the Obama Administration to enforce a principal reduction guideline at the lender.
These negotiations are very tricky and the best way to get it negotiated is to hire a professional that knows the in’s and out’s of the bank modification. Just remember there is no guarantee of a principal reduction.
Myth: bank are doing everything they can to assist struggling homeowners.
Fact: That is not true at all!
They are giving the media, our government and the people of this great country nothing but lip service. The same employees that made these loans are now laid off, and now these millions of loans are going bad. The bank that sold you this bad loan is not really there to help you with a mortgage modification or really analyze your current financial position to see if you can afford a change in payment. First of all, bank don’t have the staffing for it or the qualified staff to handle the business, nor do they really want to.
In most cases, the mortgage company denies the home owner the loan modification or barely lowers the interest rate. In turn, 5 to 6 months down the road the homeowner will re-default on that loan that was just modified. Now, this should make every home owner think, what is going on. It is obvious that the servicer are protecting themselves, only to keep the home owner paying so that the mortgage company is not flooded with foreclosures and crash the banking system. However, the price for this is millions of people hanging on for dear life, unable to afford their payments, and the lender taking the last few dimes from the home owner. The home owner is then left with nothing at the time of foreclosure to move and is then found on the streets or calling family and friends for help.
ALMS have contracted with Attorney’s that have experience and will represent you with your servicer. These Attorney’s have the relationships and have been conducting modification business with these mortgage company for years and know how to get the best modification possible. All modifications are 100% guaranteed! No money is collected up front! We are always more than happy to provide documentation of successful loan workout to potential clients. For immediate assistance, please fill out our loan modification inquiry form (http://www.callalms.com/secure-online-application). This will provide us with the basic information we need to evaluate your situation and begin the mortgage workout process for you.
Thursday, May 7, 2009
Sunday, April 26, 2009
NY FHA Loan
First time home buyers face many challenges. Often times their credit is not as strong as current homeowners. The NY FHA allows these borrowers with less robust credit histories to still obtain financing for their home purchase in New York. New York FHA Loans is "common sense underwritten" and the main thing they want to see on a NY FHA Mortgage is that the borrower can afford their payment and has a relatively good history with making their payments on time. Another advantage for NY First time home buyers is that the NY FHA Loans does not require reserves in their account in order to be approved for a New York FHA Mortgage. Most conventional financing requires several months’ payments in reserves at least. Often times they want to see up to six months of their mortgage payments in reserves to be qualified. With NY FHA Mortgage first time home buyers can get a loan without having to save up for years to get approved.NY FHA Loan Down Payment:In order to get a [NY FHA Mortgage, borrowers only need to put down 3.5% of the purchase price of the loan. This down payment does not necessarily have to come from the borrower themselves. They can receive the 3.5% NY FHA Loans down payment from a family member, their church, their job, or from another quailed source. In addition the closing costs can be gifted from the seller of the property up to 6% of the sales price. This means that a first time home buyer looking to purchase a home in New York with no money out of their pocket can actually accomplish this feat with a New York FHA Loans!The New York FHA Mortgage allows not only first time home buyers but also existing home owners to get access to safe and secure 30 year fixed rate mortgage loans. These loans have lower mortgage insurance requirements than conventional financing which means that NY FHA Mortgage holders can enjoy much lower monthly mortgage payments than borrowers with other types of financing that have high mortgage insurance premiums. In order to obtain financing for a NY FHA Mortgage, all one needs to do is apply with an FHA approved mortgage company such as us. You can apply for a NY FHA Mortgage on our website and one of our NY loan specialists will follow up with you immediately to go over your options and pre-qualify you for your new loan.As you can see the New York FHA Loan program is excellent for many types of borrowers. In future articles we will discuss the various NY FHA Mortgage programs in detail such as the NY FHA Streamlined refinance loans and the NY Rehab loan.http://www.the123mortgage.com
Financial Statements For Loan Modifications
One of the leading factors used in applying for a attorney loan modification is a change in your financial situation that makes paying your current mortgage a hardship. The financial statement you provide to your lender during a loan workout request is the single most important document to prove your case.
This is the “make or break” document that for the most part is one of the main documents that the lender bases their decision on.There are many documents that you will have to provide to your lender when you receive your loan mod package. One of the most important will be the financial statement. Often times the lender includes a simple one page financial form in your loan mod paperwork. Pay special attention to this document and complete it with great care because more often than not this will be the first document the lender will review when they are attempting to consider your worthiness for a loan modification!
The financial statement is a complete breakdown of all of your household income is NOT like getting approved for a normal home loan. When you applied for your current loan your lender looked at your last two years income history. They compared this against only the minimum payments for any debt reporting on your credit report to determine if you could afford the mortgage payment. With a loan modification it is quite different. They are going to look at all sources of your household income. For W-2’s employee, last two paychecks for borrowers are fine. One major difference in how a lender evaluates a loan modification versus the original loan is how expenses are treated.
The lender will request a complete picture of your monthly expenses. In the original loan the lender evaluated your minimum payments for accounts reporting on your credit report. With a loan mod, all household expenses are evaluated, such as child support. The list of your expenses is quite detailed. There are no exact guidelines that the lenders have written in qualifying expense ratios. That is why it is important to find a company that has experience in dealing with your particular lender. However, If the homeowner has plenty of income and can afford the current payment, and then a loan modification is not warranted. The lender is not about to tell you how to complete this section and help the homeowner adjust this section to help qualify for a loan mod. It many cases, the homeowner may need to cut expenses or figure out ways to increase income.
The best way to get help in this section is through a loan modification company that is experienced with each lender, and can show a track record of working with that lender. Remember, the lender does not have any written guidelines for this section and thus puts you as the homeowner in a disadvantage with the lender.Contracting the services of a qualified attorney backed loan modification company can help you ensure that you have properly filled out your financial statement so that you have the maximum chance of receiving a loan modification. You can apply for a free loan modification consultation now and we will be happy to review your financial situation with you in detail. http://www.callalms.com
This is the “make or break” document that for the most part is one of the main documents that the lender bases their decision on.There are many documents that you will have to provide to your lender when you receive your loan mod package. One of the most important will be the financial statement. Often times the lender includes a simple one page financial form in your loan mod paperwork. Pay special attention to this document and complete it with great care because more often than not this will be the first document the lender will review when they are attempting to consider your worthiness for a loan modification!
What is the financial statement?
The financial statement is a complete breakdown of all of your household income is NOT like getting approved for a normal home loan. When you applied for your current loan your lender looked at your last two years income history. They compared this against only the minimum payments for any debt reporting on your credit report to determine if you could afford the mortgage payment. With a loan modification it is quite different. They are going to look at all sources of your household income. For W-2’s employee, last two paychecks for borrowers are fine. One major difference in how a lender evaluates a loan modification versus the original loan is how expenses are treated.
The lender will request a complete picture of your monthly expenses. In the original loan the lender evaluated your minimum payments for accounts reporting on your credit report. With a loan mod, all household expenses are evaluated, such as child support. The list of your expenses is quite detailed. There are no exact guidelines that the lenders have written in qualifying expense ratios. That is why it is important to find a company that has experience in dealing with your particular lender. However, If the homeowner has plenty of income and can afford the current payment, and then a loan modification is not warranted. The lender is not about to tell you how to complete this section and help the homeowner adjust this section to help qualify for a loan mod. It many cases, the homeowner may need to cut expenses or figure out ways to increase income.
The best way to get help in this section is through a loan modification company that is experienced with each lender, and can show a track record of working with that lender. Remember, the lender does not have any written guidelines for this section and thus puts you as the homeowner in a disadvantage with the lender.Contracting the services of a qualified attorney backed loan modification company can help you ensure that you have properly filled out your financial statement so that you have the maximum chance of receiving a loan modification. You can apply for a free loan modification consultation now and we will be happy to review your financial situation with you in detail. http://www.callalms.com
Thursday, April 16, 2009
The loan mod process can be cause for much frustration for homeowners that are looking for help. If you are considering contacting your lender about a loan modification to save your home from foreclosure, you need to get as much information upfront as possible so you will be prepared and able to present your case in the best possible light. With the current economic crisis many lenders are gaining additional programs to help modify loans for their clients. To help you understand how the process works, here are the Top 10 Questions and Answers about loan modifications:
1. Can the loan mod include late payments that are due? Per HUD, the accrued late charges should be waived by the lender at the time of the loan modification. Lenders handle this differently, which is why it’s important to know the tactics of each particular servicer
2. What Is A Hardship? Each situation for each homeowner that caused them to fall behind on their home loan is different, but generally the lenders consider divorce to be acceptable reasons to consider a loan workout. It’s critical to include a complete and detailed hardship letter along with your loan modification request.
3. Do the new Government programs make it any easier to get a loan modified? The Federal government has allocated $75 billion dollars to subsidize lenders who offer a loan workout to their clients. The Federal Government is offering incentives to homeowners to modify loans and make payments on time. The short answer is YES
4. Can I get pre-qualified for a loan modification? In order to find out how likely it is that your lender will modify your mortgage it’s important to understand your financial situation. We must look at your income before being able to say with any certainty that we can get your lender to modify your loan. Often people try to make themselves look destitute which is not good because then the lender will assume you cannot afford any payment no matter how low. Also showing too much surplus of income will trigger the lender to think you do not need a loan modification. It’s important to strike a balance between the two
5. What is a loan modification anyway? A loan modification is a change in one or more terms of a borrower's mortgage note in the long term.
6. Is it worth it to pay someone to do the loan modification for me? You can definitely try to get a loan modification as a home owner, however, the success rate and negotiations for the best terms is not as successful as an Attorney negotiating on your behalf. The Attorneys know what can be negotiated and if need can do a site legal violations that force the banks
7. For a modification is it required to be behind on the loan? Most lenders are now doing loan workouts for their clients that are not behind, but who are able to prove to their bank that due to imminent interest rate increases, they will no longer be able to afford the loan payment under the terms of their loan. If you have some other type of hardship it’s important to be starting the process with your lender as early as possible
8. Can I Stop Foreclosure If I get a loan modification? The short answer is YES. The entire point of doing a loan modification is to get a homeowner into a payment that will be sustainable in the long term for their particular situation.
9. What happens to my arrearages? The payments you are currently behind on can be added to the back of the loan to bring you up to a current status.
10. Do I need An Attorney to negotiate better terms. A great example is that if you go to court, would you bring an Attorney, and the answer is yes. Again, the strength in negotiations is by far in the hands of an Attorney. The cost is minimal, less then a refinance and is recouped usually in two to three months.
11. What is the first step to getting a attorney loan modification? Definitely spend time educating yourself. Go to www.ripoff.com to see what Attorneys or Companies have been “black” listed! Do as much research and ask as many questions as possible. Do not feel rushed; if you’re talking to a modification company that is rushing you, it is a red flag. This about finding a Company that really cares about helping you and is in good standing.
You can get the help you need to find out if you qualify for a attorney loan modprogram by using our easy online application form. We will Find out if you meet the approval guidelines and how to increase your chances of getting a loan mod for you. Don’t waste any time since the further you fall behind the more difficult it will become to turn things around. Stay in communication and stay educated about your options!
1. Can the loan mod include late payments that are due? Per HUD, the accrued late charges should be waived by the lender at the time of the loan modification. Lenders handle this differently, which is why it’s important to know the tactics of each particular servicer
2. What Is A Hardship? Each situation for each homeowner that caused them to fall behind on their home loan is different, but generally the lenders consider divorce to be acceptable reasons to consider a loan workout. It’s critical to include a complete and detailed hardship letter along with your loan modification request.
3. Do the new Government programs make it any easier to get a loan modified? The Federal government has allocated $75 billion dollars to subsidize lenders who offer a loan workout to their clients. The Federal Government is offering incentives to homeowners to modify loans and make payments on time. The short answer is YES
4. Can I get pre-qualified for a loan modification? In order to find out how likely it is that your lender will modify your mortgage it’s important to understand your financial situation. We must look at your income before being able to say with any certainty that we can get your lender to modify your loan. Often people try to make themselves look destitute which is not good because then the lender will assume you cannot afford any payment no matter how low. Also showing too much surplus of income will trigger the lender to think you do not need a loan modification. It’s important to strike a balance between the two
5. What is a loan modification anyway? A loan modification is a change in one or more terms of a borrower's mortgage note in the long term.
6. Is it worth it to pay someone to do the loan modification for me? You can definitely try to get a loan modification as a home owner, however, the success rate and negotiations for the best terms is not as successful as an Attorney negotiating on your behalf. The Attorneys know what can be negotiated and if need can do a site legal violations that force the banks
7. For a modification is it required to be behind on the loan? Most lenders are now doing loan workouts for their clients that are not behind, but who are able to prove to their bank that due to imminent interest rate increases, they will no longer be able to afford the loan payment under the terms of their loan. If you have some other type of hardship it’s important to be starting the process with your lender as early as possible
8. Can I Stop Foreclosure If I get a loan modification? The short answer is YES. The entire point of doing a loan modification is to get a homeowner into a payment that will be sustainable in the long term for their particular situation.
9. What happens to my arrearages? The payments you are currently behind on can be added to the back of the loan to bring you up to a current status.
10. Do I need An Attorney to negotiate better terms. A great example is that if you go to court, would you bring an Attorney, and the answer is yes. Again, the strength in negotiations is by far in the hands of an Attorney. The cost is minimal, less then a refinance and is recouped usually in two to three months.
11. What is the first step to getting a attorney loan modification? Definitely spend time educating yourself. Go to www.ripoff.com to see what Attorneys or Companies have been “black” listed! Do as much research and ask as many questions as possible. Do not feel rushed; if you’re talking to a modification company that is rushing you, it is a red flag. This about finding a Company that really cares about helping you and is in good standing.
You can get the help you need to find out if you qualify for a attorney loan modprogram by using our easy online application form. We will Find out if you meet the approval guidelines and how to increase your chances of getting a loan mod for you. Don’t waste any time since the further you fall behind the more difficult it will become to turn things around. Stay in communication and stay educated about your options!
Tuesday, March 31, 2009
Florida private money
Florida hard money (private money) loans are filling the gap for many investors looking to take advantage of a low housing prices.
Many experts are predicting that the home values are nearly bottomed out. This is great news for not only the US economy but also the major economies around the world.
What this also means is that real estate investors are looking to get in before the doors slam shut on a historic buying opportunity in not only Florida but the entire U.S. One of the main reasons that the financial downturn has lasted this long is because conforming lenders have all but forgotten about the real estate investor. Last year conforming lenders implemented a guideline stating that anyone with more than 4 properties financed are no longer eligible for conforming financing. It doesn't matter how much money you make or how good your credit is, banks WILL NOT lend to investors with more than four properties. This has left many investors stuck between a rock and a hard place.
Investors realize that now is the time to be buying properties. Most investors are picking up bank owned properties for pennies on the dollar however a huge percentage of these investors don't have enough capital to purchase these properties cash.
Read the rest of the article on Florida hard money.
Many experts are predicting that the home values are nearly bottomed out. This is great news for not only the US economy but also the major economies around the world.
What this also means is that real estate investors are looking to get in before the doors slam shut on a historic buying opportunity in not only Florida but the entire U.S. One of the main reasons that the financial downturn has lasted this long is because conforming lenders have all but forgotten about the real estate investor. Last year conforming lenders implemented a guideline stating that anyone with more than 4 properties financed are no longer eligible for conforming financing. It doesn't matter how much money you make or how good your credit is, banks WILL NOT lend to investors with more than four properties. This has left many investors stuck between a rock and a hard place.
Investors realize that now is the time to be buying properties. Most investors are picking up bank owned properties for pennies on the dollar however a huge percentage of these investors don't have enough capital to purchase these properties cash.
Read the rest of the article on Florida hard money.
Wednesday, March 18, 2009
Chris Swartz and Edward Fitzpatrick Launch New Website National Future Mortgage
Prospect Park, PA - March 18, 2009 – In an effort to increase company visibility on the interent, Chris Swartz and business partner Edward Fitzpatrick of National Future Mortgage in Prospect Park, PA have teamed up with Chris Burns of BurnSEO to build a more robust and functional web site for their clients.
This new site is more functional and offers a more user friendly layout then the company’s previous site. Clients now have the ability to logon to the site to view current mortgage interest rates, use the mortgage calculator to calculate payments, apply for a mortgage, and read the latest mortgage news. There is also some very useful information on the site regarding FHA loans, Purchase and Refinance Loans, Reverse Mortgages, and the increasingly popular Loan Modification programs. The newly remodeled site can be seen at http://www.nfmmortgage.com/ the next time you are surfing the web.
National Future Mortgage is a direct mortgage lender licensed in 26 states across the country. Their main products include Conventional and FHA loans, Commercial Loans, Reverse Mortgages, and Loan Modifications. Chris Swartz and Edward Fitzpatrick opened the Prospect Park Branch of National Future Mortgage in Dec 2006.
This new site is more functional and offers a more user friendly layout then the company’s previous site. Clients now have the ability to logon to the site to view current mortgage interest rates, use the mortgage calculator to calculate payments, apply for a mortgage, and read the latest mortgage news. There is also some very useful information on the site regarding FHA loans, Purchase and Refinance Loans, Reverse Mortgages, and the increasingly popular Loan Modification programs. The newly remodeled site can be seen at http://www.nfmmortgage.com/ the next time you are surfing the web.
National Future Mortgage is a direct mortgage lender licensed in 26 states across the country. Their main products include Conventional and FHA loans, Commercial Loans, Reverse Mortgages, and Loan Modifications. Chris Swartz and Edward Fitzpatrick opened the Prospect Park Branch of National Future Mortgage in Dec 2006.
Tuesday, March 17, 2009
Chris Swartz of National Future Mortgage in PA
Chris Swartz of Pennsylvania based National Future Mortgage (pennsylvania mortgage company) in Prospect Park, Pennsylvania can help you save money on your home loan.
Chris Swartz is the branch manager of National Future Mortgage located in Prospect Park, Pennsylvania. Chris has been with National Future Mortgage and has been with the company for over five years now. His business partner Edward Fitzpatrick and himself are proud to have opened their branch of National Future Mortgage (NFM) in December 2006.
As a local resident and graduate of Interboro Senior High School in Prospect Park, Chris is delighted to be helping people in his home town save money on their home loans. In addition to helping people in his own home town, Chris has the ability to assist clients with their mortgage needs in over 26 states across the country. Those states include CA, CO, CT, DE, FL, IL, IN, IA, KY, MD, MA, MI, MT, NE, NJ, NY, NC, SC, OR, PA, TN, TX, VA, WV, and WI. His keen business sense and high regard for customer satisfaction make working with him the right choice for anyone looking to purchase or refinance a home in the states they are licensed to lend in.
Established in 1991 National Future Mortgage is direct lender licensed in over 26 states across the country. National Future Mortgage specializes in Conventional, FHA, Commercial and Reverse mortgage loans.
Read the entire article here: http://nfmmortgage.com/blog/chris-swartz-of-national-future-mortgage-in-prospect-park-pennsylvania-can-help-you-save-money-on-your-mortgage
Chris Swartz is the branch manager of National Future Mortgage located in Prospect Park, Pennsylvania. Chris has been with National Future Mortgage and has been with the company for over five years now. His business partner Edward Fitzpatrick and himself are proud to have opened their branch of National Future Mortgage (NFM) in December 2006.
As a local resident and graduate of Interboro Senior High School in Prospect Park, Chris is delighted to be helping people in his home town save money on their home loans. In addition to helping people in his own home town, Chris has the ability to assist clients with their mortgage needs in over 26 states across the country. Those states include CA, CO, CT, DE, FL, IL, IN, IA, KY, MD, MA, MI, MT, NE, NJ, NY, NC, SC, OR, PA, TN, TX, VA, WV, and WI. His keen business sense and high regard for customer satisfaction make working with him the right choice for anyone looking to purchase or refinance a home in the states they are licensed to lend in.
Established in 1991 National Future Mortgage is direct lender licensed in over 26 states across the country. National Future Mortgage specializes in Conventional, FHA, Commercial and Reverse mortgage loans.
Read the entire article here: http://nfmmortgage.com/blog/chris-swartz-of-national-future-mortgage-in-prospect-park-pennsylvania-can-help-you-save-money-on-your-mortgage
Attorney loan modifications
A California loan modification is becoming more and more popular. As a California based Loan Modification Company that is assisting clients in the worst housing market in our country, we have seen first-hand exactly how necessary our services are to our nation, our state, and our community. Many borrowers just don’t know how to properly structure their financial affidavit to their lenders when trying to do a loan modification. There is a fine balance between showing too much debt and showing enough of a financial burden to qualify for a serious loan modification that will significantly lower the monthly payments of your loan.
This is why it is imperative that homeowners who are currently behind on their mortgage payments, or soon will be falling behind on their payments, engage the services of a professional loan modification company that is backed by an experienced real estate attorney who will aggressively fight on their behalf to lower the monthly mortgage payment on their loans.
Lenders have several options when modifying a loan. They can lower the interest rate, reduce the principle balance, extend the terms of the loan, or anything else that will modify the loan in order to make the monthly payment more affordable for the home owner. Our Attorney based loan modification services utilize any and all means to negotiate a lower payment on your behalf.
There is no need for you to have sleepless nights wondering if you have properly packaged and submitted your loan modification request to your lender. Contact a loan modification company that has the professional experience and resources to fight for you to save your home and stop foreclosure today!
For more info please visit http://www.callalms.com and fill out our quick inquiry form for immediate response.
Read the full article here: http://www.callalms.com/loan-modification-news-blog/viewpost/70
This is why it is imperative that homeowners who are currently behind on their mortgage payments, or soon will be falling behind on their payments, engage the services of a professional loan modification company that is backed by an experienced real estate attorney who will aggressively fight on their behalf to lower the monthly mortgage payment on their loans.
Lenders have several options when modifying a loan. They can lower the interest rate, reduce the principle balance, extend the terms of the loan, or anything else that will modify the loan in order to make the monthly payment more affordable for the home owner. Our Attorney based loan modification services utilize any and all means to negotiate a lower payment on your behalf.
There is no need for you to have sleepless nights wondering if you have properly packaged and submitted your loan modification request to your lender. Contact a loan modification company that has the professional experience and resources to fight for you to save your home and stop foreclosure today!
For more info please visit http://www.callalms.com and fill out our quick inquiry form for immediate response.
Read the full article here: http://www.callalms.com/loan-modification-news-blog/viewpost/70
Sunday, March 8, 2009
MO Mortgage Funds Lauched By Feds
In an effort to "catalyze the securitization market", the Federal Reserve has announced it will launch the Term Asset Backed Securities Facility (TALF) on March 25.
The program has the potential to spur $1 trillion in lending for businesses and households, which will provide up to $200 billion to investors especially in Missouri. The operations will be made on a monthly basis and will extend until at least December 2009, after which the program will be reconsidered. This will assist missouri mortgage company to produce more mo fha loans.
read the entire article here: http://www.vandykstl.com/extras/mortgage-blog.html
The program has the potential to spur $1 trillion in lending for businesses and households, which will provide up to $200 billion to investors especially in Missouri. The operations will be made on a monthly basis and will extend until at least December 2009, after which the program will be reconsidered. This will assist missouri mortgage company to produce more mo fha loans.
read the entire article here: http://www.vandykstl.com/extras/mortgage-blog.html
Thursday, March 5, 2009
Federal Home Affordable Refinance Program Guidelines
This program officially goes into effect on April 4th 2009. It is meant to assist homeowners that have been making their mortgage payments on time but have been unable to refinance to take advantage of lower rates due to decreasing housing values.
It is not geared for people that are currently or recently have been behind on their mortgage payments. For those people there is a new Government backed loan modification program in effect today that can help you lower your payments and save your home. We will discuss the federally backed modification program in another article in detail shortly.
If you think you may qualify and want to get information about the new Federal Florida Affordable Home Refinance Program please call us today at 800-871-2636 or Apply Online NOW!
Eligible Mortgage Loans: - Any loan owned by Fannie Mae, Freddie Mac
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Multiple Mortgages To the Same Borrower: - No Limit
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Read the full explanation at: http://www.fivestarsmortgage.com/mortgage-articles/31/
It is not geared for people that are currently or recently have been behind on their mortgage payments. For those people there is a new Government backed loan modification program in effect today that can help you lower your payments and save your home. We will discuss the federally backed modification program in another article in detail shortly.
If you think you may qualify and want to get information about the new Federal Florida Affordable Home Refinance Program please call us today at 800-871-2636 or Apply Online NOW!
Eligible Mortgage Loans: - Any loan owned by Fannie Mae, Freddie Mac
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Multiple Mortgages To the Same Borrower: - No Limit
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Read the full explanation at: http://www.fivestarsmortgage.com/mortgage-articles/31/
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