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What interest rate are you qualified for? Well, that depends on whether you are trying to refinance or get a loan modification. I’ve spoken to many borrowers that are pursuing a loan modification because they feel their interest rates are high. They also feel they should be approved for the best rates offered under refinancing guidelines. That’s not how it works. In fact, if you are pursuing a loan modification, you could very well be approved for an interest rate well below the current market rate.
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Obama Plan - More help for California! Homeowners in California and in a handful of other states could be injected with some much needed help from the Obama Administration. Recently President Obama announced a $1.5B program to help stop the foreclosure bleeding... -
MHA Trial Plan Most banks are currently offering loan modifications in one form or another and many are participating in the Government's MHA - Making Home Affordable modification program. Also known as the Obama Plan or the HAMP... -
Loan Modification firms don't modify loans, BANKS DO! When you do a search online or in the phone book for companies that offer loan modification service, you'll find that there is no shortage of companies and law firms offering this service. Some of... -
Take matters into your own hands! But, how do you show the bank you need a loan modification? The secret to a loan modification is how you present the modification package to your bank. If you are considering hiring a firm to help you with a loan modification or you are planning on... - Loan Modification: Can an Ebook help? Loan Modification ebooks: A waste of money? Believe it or not, Loan Modifications may still be in it's infant stage. Most banks have only just started doing loan modifications back in 2006 or 2007 and...
- Introduction to Mortgages pt 5 of 5 This is part five in a five part series on what you need to know about mortgages before you buy a home. The housing market is an interesting beast, because it comes and goes, rises...
- The 130-year fixed-rate mortgage I saw it on Punny Money, so it must be true! (He tried to sell me a bridge, too, but I already have one.) A 130-year fixed-rate mortgage. More than twice as long as the...
- So what are lenders using as criteria today for mortgage qualification? I've been talking about some things related to the home purchase we're doing now. One of the conditions of purchasing our new home was ability to get financing. Since I couldn't buy with cash, I...
- Introduction to Mortgages pt 3 of 5 This is part three in a five part series on what you need to know about mortgages before you buy a home. The housing market is an interesting beast, because it comes and goes, rises...
- Loan Modification with Indy Mac is Made Simple Recently, Indy Mac announced that it will allow homeowners who are in default on their loans to streamline into loan modifications. If you have a loan with Indy Mac, you may be asking yourself what...
