“Are You Stuck with a Mortgage You Can’t Handle?”
Don’t Worry! A Loan Modification May Help You Save your Home!
Since your own Federal Government is behind you, do not let the Banks push you around!
If your answer is “YES’ to any of the questions listed below, you owe it to your self and your family to complete the form to the right, and apply for the help that the US Government offers under the terms of the Obama Foreclosure Bailout Program.
- Finding it difficult to keep up with your mortgage payments?
- So far behind on your payments your lender is threatening to foreclose?
- Sick of sky-high payments you can’t possibly afford?
- Stuck in a loan with a massive interest rate?
- Have you suffered a hardship which is making it difficult to remain in your home
- Is the home valued at less than what you owe?
President Obama is urging lenders to modify home mortgages in accordance with his new foreclosure bailout plan. Based on certain borrower criteria, lenders can easily make modifications to the terms of your home mortgage which often can…
• Reduce your monthly mortgage payment. • Lower your current annual percentage rate. • Extend the duration of your mortgage. • Halt foreclosure proceedings. • Eliminate late fees. • Decrease your principal balance
In spite of The President of the United States putting pressure on banking institutions to modify loans whenever possible, borrowers are oftentimes given the runaround from their lenders, making it extremely difficult or even impossible for an unrepresented borrower to obtain a mortgage loan modification done. This is clearly seen in the accompanying video showing that even a Congresswoman isn’t able to assist one of her constituents in getting a loan modification.
For this reason it’s always best to have expert representation when trying to acquire a loan modification. The majority of borrowers quite frankly do not understand the maze of laws and conditions which the lenders need to modify a loan. This frequently results in frustration and enables the lender to take advantage of you, put you off or ignore you altogether. Having expert representation may be the only way to get the bank’s attention and acquire the loan modification that you need so that you can stay in your own home. Don’t wait. Complete the form now. Be on your way to a new mortgage loan tomorrow.
Why a Loan Modificaton? Just consider these benefits!
Mortgagee Letter 2008-21 states in part: Legal fees and related foreclosure costs for work actually completed and applicable to the current default episode may be capitalized into the modified principal balance.
Mortgagee Letter 2008-21 also states that accrued late charges should be waived by the mortgagee at the time of the Loan Modification.
Mortgagee Letter 2009-35 states that the Mortgagee shall reduce the Loan Modification note rate to the current Market Rate.
Mortgagee Letter 2009-35 also states that the Mortgagee must re-amortize the total unpaid amount due over a 360 month period from the due date of the first installment required under the modified mortgage.
In Summary… The administration’s plan calls for participating bank loan servicers to reduce monthly payments to at most 38 percent of the borrower’s gross monthly income. The federal government would then chip in to reduce payments down further, to no more than 31 per cent of the borrower’s monthly income. The Lender would initially lower the interest rate to as low as 2 percent. In the event that’s not adequate to reach the 31 per cent threshold, they’d then extend the terms of the loan to up to 40 years. If that is still inadequate, the servicer would forebear loan principal at no interest. (The plan doesn’t, however, require servicers to reduce mortgage principal.)
YOU DON’T HAVE TO LOSE YOUR HOME!
A loan modification may be able to:
- Halt foreclosure and help you save your home!
- Put an end to all of those mounting late fees!
- Lower your interest rate as low as 2%!
- Bring your payments down by as much as 65%!
- Make your mortgage much more manageable!
To determine if you qualify and see if a loan modification can help YOU save your home and get your payments back to a manageable level, simply fill out the form to the right. Within 24 hours you will be put in touch with a professional loan modification agent who will be able to help you. There is absolutely no obligation on your part for this analysis of your situation. We’ve helped thousands of families just like yours get back on track and save their homes! Don’t wait until it’s too late. The longer you wait, the more likely it is, that the foreclosure process cannot be stopped. Get in touch with us right away to find out how we can help!