Mortgage Loan Modification
There has been some good news for troubled homeowners seeking mortgage loan modification. New mortgage loan modification programs were announced that are aimed helping delinquent borrowers more easily obtain a mortgage loan modification to avoid foreclosure. First, Bank of America, owner of Countrywide, introduced a systematic mortgage loan modification program as part of a predatory lending settlement. If you have a Countrywide mortgage, you may qualify for this mortgage loan modification:
Also, Hope for Homeowners, signed into law July 2008 took effect October 1, 2008. This mortgage loan modification program offers to refinance troubled borrowers into low, fixed rate government insured loans. This new mortgage loan modification program is expected to help thousands of homeowners refinance into an affordable monthly mortgage payment. Here is a brief outline of this mortgage loan modification program:
There are many new mortgage loan modification options available for troubled homeowners to them avoid foreclosure and stay in their home. If you need help with a mortgage loan modification, now is the time to get informed about these new programs and find out if you qualify for a mortgage loan modification.
One of the best sources of up to date information is The Complete Loan Modification Guide handbook. This is a low cost, easy to follow guide that you purchase and download right online. You can get started right away to learn about the mortgage loan modification process, how you can qualify, and provides you with step by step instructions so you can complete your mortgage loan modification application correctly. The Complete Loan Modification Guide will provide you with all of the mortgage loan modification forms you need and give you detailed instructions on how to complete them properly. Get help with writing a compelling hardship letter; learn your legal rights and much more. Now is not the time to take a chance with your family’s future-get the information and help you need to get a mortgage loan modification.
Purchase and download The Complete Loan Modification Guide today and get started on the path to financial security and peace of mind.
- $8.7 billion earmarked to assist in mortgage loan modifications
- 400,000 loans to be reviewed
- Mortgage loan modifications offering a lower interest rate and reduced principle
- Foreclosures on delinquent loans to be suspended pending loan reviews
- Late fees and pre-payment penalties to be waived
- Lump sum payments to borrowers who can’t afford their monthly payment after a mortgage loan modification and who lose their home thru foreclosure in the future.
Also, Hope for Homeowners, signed into law July 2008 took effect October 1, 2008. This mortgage loan modification program offers to refinance troubled borrowers into low, fixed rate government insured loans. This new mortgage loan modification program is expected to help thousands of homeowners refinance into an affordable monthly mortgage payment. Here is a brief outline of this mortgage loan modification program:
- $300 billion allotted to assist troubled homeowners
- Qualified borrowers must live in their homes and have loans that were originated between 1/1/2005 and 6/30/2007
- Borrowers must be spending at least 31% of their gross monthly income on their current monthly mortgage payment
- To participate in this mortgage loan modification program, lenders are required to forgive all debt above 90% of the homes current appraised value-this means a reduction in the loan balance to accurately reflect the home’s current market value
- This is a voluntary mortgage loan modification program and borrowers must ask their lenders if they are willing to agree to it.
There are many new mortgage loan modification options available for troubled homeowners to them avoid foreclosure and stay in their home. If you need help with a mortgage loan modification, now is the time to get informed about these new programs and find out if you qualify for a mortgage loan modification.
One of the best sources of up to date information is The Complete Loan Modification Guide handbook. This is a low cost, easy to follow guide that you purchase and download right online. You can get started right away to learn about the mortgage loan modification process, how you can qualify, and provides you with step by step instructions so you can complete your mortgage loan modification application correctly. The Complete Loan Modification Guide will provide you with all of the mortgage loan modification forms you need and give you detailed instructions on how to complete them properly. Get help with writing a compelling hardship letter; learn your legal rights and much more. Now is not the time to take a chance with your family’s future-get the information and help you need to get a mortgage loan modification.
Purchase and download The Complete Loan Modification Guide today and get started on the path to financial security and peace of mind.