Loan Modification Sites

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!

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!