Dear Friends,
Refinancing and Loan Modification for the masses is here. I think most Americans will find this interesting. Healing is in progress. It will be slow to take effect, but I foresee the end results as positive. Details of the plan and an online form with a basic "do I qualify?" link on the Obama Plan main page. Link is below. You owe it to yourself to read.
The Obama Administration unveiled a new website on its Making Home Affordable Program.
The program has two main components:
(1) refinancing of Fannie Mae and Freddie Mac loans for borrowers who are current and have loan-to-value ratios of 80%-105%, and
(2) loan modification for borrowers in default or at imminent risk of default who have high debt-to-income ratios and mortgages with balances up to $729,750.
The new website is designed to make information about eligibility, free counselors, and other program details readily available. It also includes links that let borrowers learn whether they have a Fannie Mae or Freddie Mac loan.
www.MakingHomeAffordable.gov *
Another must read for all home owners and potential home owners.
*From the same folks who allowed us to provide a Trillion dollar hand out to traditionally run good old boy networks, those who need the extra profits the least.
New Mexico Home Loans are coming soon. A Full disclosure Lender provides the costs upfront -not at the closing table. And certain "additional" profit disclosures are not required to be given the consumer (either by law or as basic customer service) by major baking institutions. Wouldn't you like to know how the bank will profit from you and just how much they may be earning on your transaction? Ask for full disclosure. Wouldn't it be nice to get a worst case scenario when you apply? Full costs are disclosed with every new accepted application.. It doesn't get any better, and it will save you money on a refinance or your new purchase home loan.
Thursday, March 26, 2009
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