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Government Loan Program – HAFA

admin — Tue, 27 Apr 2010 22:26:35 +0000

In prior posts we have discussed some ways the government is providing opportunities to help borrowers who are struggling with their mortgage payment to try and keep their house. We discussed the HAMP program, which is a government loan modification program that helps qualified consumers make adjustments to their mortgage payments in hopes to be able to keep their house. The government recognizes that not all of these people will still be able to keep their house, so they have provided a program to help those that do need to give up their home, to do it with some extra money.

The Home Affordable Foreclosure Alternatives (HAFA) program is a government program that helps borrowers who have tried the HAMP program and have failed to be able to get rid of their house, with the possibility of receiving up to $3000 cash. For borrowers who have qualified for the HAMP program and still fail to make payments, HAFA can help you with a short sale or Died-in-Lieu foreclosure while at the same time sending you off with up to $3000 cash for “moving expenses.” If you have exhausted all possible ways to modify your loan and are still unable to afford your home, this may be a great option for you. Learn more about HAFA here.

Government Program – HAMP

admin — Tue, 27 Apr 2010 22:15:47 +0000

The government is providing several programs and opportunities for people who are struggling with home mortgage payments. One of their main programs is their Home Affordable Modification Program (HAMP). This program is for certain borrowers who qualify and have mortgages under $729,000. If you fit the little criteria that is required to qualify for the program, you may be able to lower your interest all the way down to 2%, defer unpaid loan balances, or even extend your amortization period. These can amount in a significant reduction of your monthly payment and may allow you to keep your house.

Even though you may be extremely behind on your payment, it doesn’t hurt to find out. Find out more about HAMP and get help modifying your loan today!

Consumer Loans Record Low

admin — Thu, 10 Sep 2009 21:32:48 +0000

As the economy grows weaker, consumer loans are becoming more and more scarce. On Tuesday, Wall Street reported a record setting $21.55 billion in consumer credit loss, which shows that indeed consumers are borrowing less and less. Much of this is due to the extreme tightening in lending from banks. As a result, banks are looking even more at loan modification and loan refinance for opportunities for consumers to finance.

Not all loans and businesses have completely gone away. In fact, credit repair services businesses have been thriving. As the economy has suffered, bad credit has piled up throughout the entire country. Not only are millions of Americans looking for new jobs but also looking to improve credit scores.

Loan modification is still a very viable option that is being done all around the country. If you have not already, it would be wise to consult a professional to see what can be with your loan.

Investing Your Refinance

admin — Tue, 16 Jun 2009 18:08:40 +0000

As mortgage interest rates are hovering near record lows, it becomes many people’s consideration to refinance their house, considering the extremely low cost of borrowing that the government has provided. What many are striving to do is to refinance their house at 5% or lower rates, and then find an alternative investing vehicle that can yield much stronger gains to cover the return. If this is successful, in a sense, you have received money for free, and get to put some extra interest in your pocket.

There is always the risk that such investment vehicles not reaching their projected returns, so that is something to consider. If you are looking to begin investing in the stock market, Firstrade has a great online trading platform that can have anyone trading online in a matter of days. They are an online broker that specializes in stock trading, etf trading, mutual funds, and many other investment tools. They can be a great assistance in your journey to begin trading securities.

Insurance Problems

admin — Tue, 16 Jun 2009 17:35:59 +0000

As the economic crisis increases, it is effecting many aspects of a variety of different businesses. One in particular, Insurance Companies, have see some big changes as of late. Many larger insurance companies have had to raise their premiums, due to losses they’ve endured in their investment portfolio. As such, it may be a good time to consider switching insurance companies, as their are many that are still well capitalized.

You can recevie good life insurance quotes from reputable web sites like the one I’ve linked to. Cheap life insurance can still be found with reasonable premiums, but it may require a bit of searching and comparing. Having the right insurance plan can save thousands down the road, which in turn will free up more capital for paying off the mortgage.

New Toxic Asset Plan To Help With Loan Modification

admin — Thu, 26 Mar 2009 18:17:46 +0000

On Monday, Secretary Geithner unveiled the new toxic debt plan, that could result in over $1 trillion in spending to assist in the acquiring of toxic debt. The plan was announced several weeks ago, but was unveiled in more detail on Monday, causing the stock market to rally 500 points. The plan involves creating a “bad bank” entity, that would work much like the RTC did back in the 90’s. Toxic assets will be transferred to this “bad bank” and then the Government will look to partner with private equity groups in disposing of the assets.

In order to make the assets desirable, the government is looking to offer incentives to private equity groups by financing the properties, giving tax incentives, and big discounts on the appraised value. Bank stocks rallied as the new plan hopes to provide a big boost to their balance sheets. This is big news for those seeking loan modification or a mortgage refinance. As toxic assets are reduced and able to be written off of bank’s balance sheets, this makes them more able to work with current loans. The government is continuing to offer incentives to banks in working with consumers with loan modification or refinance. Mortgage rates continue to be record low, which has made it a great time to buy or refinance a home. CLICK HERE TO BEGIN THE PROCESS OF LOAN MODIFICATION!

Government Loan Modification Made Easy – Record Low Mortgage Rates!

admin — Fri, 20 Mar 2009 22:13:14 +0000

Big news was released earlier this week as once again the government has executed a plan to help reduce mortgage rates as well as people seeking loan modification. On Wednesday, The Fed met for their monthly FOMC meeting to discuss economic conditions and the future of the discount rate. The Fed announced that they will indeed be keeping the current discount rate at a range of 0-.25%, which was expected, but they continued to announce their new plan, which resulted in a huge upswing in trading, especially for banks.

The Fed plans to spend an additional $750 billion in purchasing mortgage backed securities from housing agencies such as Fannie Mae and Freddie Mac. In addition to that, The Fed will also be spending $300 billion on the purchasing of US Government bonds.

The announcement on Wednesday sent stocks flying and Treasury interest rates crashing. In turn, the lowering of Treasury rates should lead to a significant reduction in mortgage rates. This is great news for anyone seeking to modify their loan or refinance their mortgage. Rates are being quoted in the 4% range, which has not been seen in years. Due to increasing inflation concerns, these rates will most likely not stay long. If you have interest in loan modification or refinance, start now and CLICK HERE TO BEGIN THE LOAN MODIFICATION OR REFINANCE PROCESS.

The Fed To Meet Wednesday To Discuss Possible Trillion Dollar Bailout

admin — Tue, 17 Mar 2009 23:58:40 +0000

On Wednesday, March 18th, The Federal Reserve will meet for their FOMC meeting to discuss updates with the economy, the discount rate, and other economic variables. It is expected that The Fed will leave the discount rate at its current level, which is a range between 0-.25%. This means that, most likely, interest rates for homes will remain low, especially those that have good credit.

With the recent news of bank’s balance sheets shrinking 17%, The Fed has taken initiative to help inject liquidity into the credit markets. The Fed is considering a bailout structure in the amount of $600 billion, which would involve buying up bonds that are issued by US housing agencies, such as Fannie Mae and Freddie Mac. Other measures which are being discussed, are the possibilities of buying up US Treasuries and Corporate bonds to help bring stability to the equity markets. With the addition of these measures, the plan could amount to over a trillion dollars.

The Federal Reserve plans to make an announcement on Wednesday at 2:15pm Eastern to discuss the results of their meeting. Indeed such an announcement could have a huge impact on loan modification and mortgage refinance. With more help coming to housing agencies, it creates more incentive for lending institutions to work with your loan. We are still in the best of times to discuss ways to modify your loan, as banks are working more and more with their customers. Start now and CLICK HERE TO BEGIN THE PROCESS OF MODIFYING YOUR LOAN!

Good News For Banks – Better News For Your Mortgage

admin — Fri, 13 Mar 2009 22:54:16 +0000

For the first time since December of 2008, the DOW closed up four days consecutively. This rally in the stock market is being led by the financial institutions, as many of them saw their stock go up anywhere from 40-100% in just a week. This recent return of confidence in lending institutions is good news for your mortgage and loan modification. Both Bank of America and Citi Group announced this week that they are well capitalized and are actually yielding profits in the current quarter. Both feel that they will not need further government funding to keep them alive, as both have recieved tens of billions of dollars from the government.

On Monday, The FASB (Financial Accounting Standards Board) is planning to meet to discuss a change in strategy to the current accounting procedure “mark to market” that bank uses on their balance sheets. As of now, banks are required to adjust values of properties to their current appraised value when doing accounting, which recently, has taken an enormous chunk out of their balance sheets. The FASB will meet to discuss changes that can be made to this procedure that will help bank minize the damage of toxic assets. As this develops more, this provides a great opportunity for those looking to refinance a mortgage or modify a loan. So whether you are in Texas, California, Florida, New York, or any other US city, you most likely qualify for the new government loan modification and refinance plan. If you are not sure if you qualify, we can find out for you. Now is the time to act, as interest rates remain record low and banks have incentives to work with you. CLICK HERE to begin in modifying or refinancing your loand today!

Government Loan Modification – How It Can Work For You

admin — Wed, 11 Mar 2009 17:29:18 +0000

In the past couple of weeks, President Obama and government agencies have been working hard to assist people across the country in working out their mortgage. Considering the current estimate for delinquent houses is roughly 10% and the FDIC is predicting that 1 out of every 3 houses will be delinquent by 2010, this has become a top priority for President Obama.

Considering many of the financial institutions have suffered severe liquidity problems the last year, the government has given aid to many of them. From now on, any bank that is to be recieving TARP money will be required to follow the guidelines that the government has laid out for loan modification. So whether you are in California, Colorado, or Florida, you are most likely eligible for some sort of loan modification or refinance. Having the Fed rate at a 0% currently and in our current economic state, there is no better time to consult a representative. Banks have been commissioned to lower interest rates to as low as 2%, if needed, in order to work with those struggling to make mortgage payments.

Even those of you that have remained current on your mortgage have options, including reducing your principal amount. Get in touch with a representative today. Click here to get more information on how you can work out your loan!