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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: 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... -
Steps to a Home Loan Modification with Bank of America Loan Modifications seem to be the last hope for a number of homeowners across America who are struggling with their mortgage payments. This is ever more clear with the rising foreclosures that is expected to... - Hardship Letter Hardship Letter Guidelines I've read several blogs on the internet on what a hardship letter is and how you should write a hardship letter for a loan modification. A hardship letter for a loan modification...
- Getting A Mortgage That Works For You Purchasing a home is the biggest investment that you can make for your future and is probably the most expensive thing that you will ever purchase. Obtaining a mortgage for the home can be tricky...
- 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...
- A Loan Modification is Within Your Reach If you are facing foreclosure, you have options. First you must dismiss the common myths about loan modifications: The common myths are: One myth is the bank does not want me to keep my home. ...
- 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...
- Fixed-rate mortgage payments, inflation, and investing There were lots of great comments on my recent post about treating mortgage debt just like any other debt, meaning that it should be paid down faster than what is required by the lender.One of...
