25
Jan

Do You Know That Obamas Stimulus Makes Mortgage Refinancing Easy?

Author: admin

Mortgage refinancing options exist for millions of homeowners thanks to new options available from President Obamas stimulus plan. This stimulus is designed to help millions of homeowners lower their monthly mortgage payments and prevent their homes from being lost from foreclosure or default. Here are some important things homeowners need to know before refinancing a mortgage with Obamas stimulus.

-Mortgage payments will not be more than 31% of a homeowners monthly gross income.

-Homeowners who owe up to 25% more than their home is actually worth can get approved for a beneficial and money saving mortgage refinance with Obamas stimulus plan.

-Homeowners with bad credit can get help with Obamas stimulus plan and easily qualify for a mortgage refinancing.

-There are no closing costs or other fees that are usually associated with a mortgage refinance.

-Homeowners can get mortgage interest rates that are as low as 2%.

This program is designed to help struggling homeowners. Since the housing market and economy are so bad, many people are having a hard time, or are unable to, make their home loan payments every month. That is why this plan is designed to help nearly any homeowner, regardless of their financial or mortgage situation. This plan has over $75 billion in funding behind it and is expected to assist an estimated 7 million homeowners get a more affordable monthly home loan payment.

Homeowners need to take action now while this program is in effect. Never before has getting a mortgage refinance been this easy. The Obama stimulus plan is truly a great thing for many people to take advantage of. Do yourself a favor and contact a mortgage lender or bank today to see what benefits await you.

I have been underwriting mortgages for years. Recently, I got into a new business but I still wish to share my advice, tips, and industry inside happenings of the mortgage refinancing industry.
For more articles on Mortgage Refinance check out my website

Article Source:http://www.articlesbase.com/mortgage-articles/do-you-know-that-obamas-stimulus-makes-mortgage-refinancing-easy-1778833.html

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24
Jan

How To Save Money By Refinancing a Mortgage with Obamas Stimulus Plan

Author: admin

Do you need to lower you monthly mortgage payment? Want to refinance a mortgage but fear that your home has lost too much value or your finances are in too bad of shape? Want to take advantage of low interest rates and President Obamas stimulus plan? Then here is what you need to know.

Mortgage foreclosure and defaults are near record highs right now. This is making it even worse for the housing economy and overall economy. Many people are seeing their home or property values drop and that makes getting a mortgage refinance even harder. However, there is hope for homeowners.

President Obamas “Making Home Affordable” stimulus plan is designed to assist struggling homeowners get an affordable home loan payment every month. This stimulus plan has over $75 billion available to assist homeowners. This money is the key reason that so many people can get help right now with a mortgage refinance or modification.

This money will be given to mortgage lenders and banks when they follow Obamas stimulus plan and offer homeowners a mortgage refinance or modification. The money enables the lenders and banks to offer help to more people than ever before because they are taking on less financial risk. This means that people with bad credit, upside down home loans, or other financial problems can get help, save money, and prevent their home from being lost.

Millions of people can use this program for themselves and save a lot of money, their home, or both. Never before has refinancing a mortgage been this easy. Contact a mortgage lender or bank today and see what options are available to you because of the stimulus program from Obama.

I have been underwriting mortgages for years. Recently, I got into a new business but I still wish to share my advice, tips, and industry inside happenings of the mortgage refinancing industry.
For more articles on Mortgage Refinance check out my website

Article Source:http://www.articlesbase.com/mortgage-articles/how-to-save-money-by-refinancing-a-mortgage-with-obamas-stimulus-plan-1775149.html

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24
Jan

The Adjustable-Rate Mortgage Problem

Author: admin

Reports of lenders botching mortgage rate calculations sent homeowners scrambling to see if they’re being overcharged and left bankers wondering if they’re losing millions. The controversy over adjustable rate mortgages, loans with variable interest rates, began when a former federal banking auditor estimated widespread errors in the loan portfolios of failed savings and loans in the Midwest. I, estimated up to 35 percent of adjustable-rate mortgages nationwide were miscalculated and borrowers were overcharged $8 billion from 1999 to 2009.

There haven’t been any additional studies to confirm these statements. Officials were unclear how widespread the miscalculations may be. Clearly the portfolio that we were looking at is the smaller savings and loans in the Midwest. But whether the problem is broader than that, I don’t know.

An adjustable-rate mortgage, or ARM, has an interest rate that fluctuates according to a financial index, such as the rise or fall of Treasury bills. Errors may arise when a lender mistakenly uses the wrong index, calculates the index at an improper time, or incorrectly tabulates the mortgage.

Geddes’ allegations in August 2009 sent shockwaves through the lending community. At least four class-action lawsuits have been filed in Indiana, alleging lenders excessively overcharged borrowers.

The General Accounting Office, the investigative arm of Congress, issued a report on the problem in October. Federal auditors now pay special attention to the loans when reviewing the financial records of banks, credit unions and savings and loans.

Meanwhile, the Federal Financial Institutions Examination Council, an umbrella group of federal financial services regulators, is coordinating an examination of banks, savings and loans, and credit unions which have adjustable-rate mortgages in their portfolios.

The move by the council shows the federal government is taking the problem very seriously. So are homeowners. HSH Associates, a mortgage information service, markets kits for borrowers to double check their mortgage calculations.

One estimate puts a typical loss from $200 to $1,400 over the term of the loan. The American Bankers Association said the problem appears to be confined to just savings and loans. Industry officials said they were unaware of any consumers avoiding ARMs in light of the recent publicity.

Some analysts say the bulk of the errors may even be in consumers’ favor. Others say the damage is evenly split. The adjustable-rate mortgage problem is more a problem of complexity as opposed to a problem of greed.

Article Source:http://www.articlesbase.com/mortgage-articles/the-adjustablerate-mortgage-problem-1768923.html

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23
Jan

Obamas Bailout Helps Homeowners Get Mortgage Modification with Fannie Mae or Freddie Mac

Author: admin

Homeowners with a mortgage from Fannie Mae or Freddie Mac can now get a mortgage modification that will save them a lot of money. This is all possible because of President Obamas stimulus called the “Making Home Affordable” plan. This stimulus allows every homeowner with a Fannie or Freddie mortgage to save money and benefit from a mortgage modification. Here is how it works and what homeowners need to know.

Backed by over $75 billion in funding, this stimulus plan specifically calls for Fannie Mae and Freddie Mac to approve homeowners for mortgage modification. Now, according to Obamas plan, homeowners will receive some amazing benefits when they modify their home loan with Fannie or Freddie. Here are some of the biggest benefits:

-Guaranteed mortgage modification approval for all homeowners with a mortgage from Fannie Mae or Freddie Mac.

-Monthly home loan payments that will not be more than 31% of a homeowners gross monthly income.

-Mortgage interest rates can be lowered to as low as 2% to help lower the amount due every month.

-Home loans can be extended in length to lower the payments.

-There are no closing costs or fees for a home loan modification with Obamas stimulus.

-Homeowners who owe up to 25% more than their home is actually worth can easily get themselves into a better home loan through this program.

-The ability to get out of an adjusted rate mortgage and into a fixed rate home loan.

This stimulus program from President Obama is designed to help millions of struggling people avoid losing their home and save money. Fannie Mae and Freddie Mac are two of the biggest lenders in the country and millions of people will be able to benefit from getting a mortgage modification with them. Contact them today and see what benefits are waiting for you when you use Obamas stimulus program for yourself.

I have been underwriting mortgages for years. Recently, I got into a new business but I still wish to share my advice, tips, and industry inside happenings of the mortgage refinancing industry.
For more articles on Mortgage Refinance check out my website

Article Source:http://www.articlesbase.com/mortgage-articles/obamas-bailout-helps-homeowners-get-mortgage-modification-with-fannie-mae-or-freddie-mac-1771616.html

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23
Jan

How To Refinance a Mortgage Using Obamas Stimulus

Author: admin

Millions of homeowners can benefit from President Obamas “Making Home Affordable” stimulus plan. This program makes getting a mortgage modification or refinancing easy and very beneficial for a lot of people. Here is how a homeowner can use President Obamas stimulus plan and get a home mortgage refinance or modification into a better, and cheaper, monthly loan payment.

This program is designed to help struggling homeowners and prevent them from losing their home to a foreclosure or loan default. This is possible because of new mortgage refinance and modification options that have been created by $75 billion from the Obama stimulus plan. This money will be given to mortgage lenders and banks when they help a homeowner according to the Obama plan rules. This money is enabling mortgage lenders and banks to offer help to nearly anyone including homeowners with:

-A home that has dropped in value
-Bad credit or debts
-Upside down mortgages
-Little to no cash for closing costs and fees
-A financial hardship like loss of a job

These are the main reasons people are struggling. Foreclosures and loan defaults are at all time highs and that is why Obamas program focuses on homeowners who need help. It has never been as easy, or beneficial, than it is right now to refinance or modify a mortgage.

Homeowners need to take action and contact a mortgage lender or bank to see what benefits they can get from Obamas housing stimulus plan. Help is available for nearly any situation you can think of and it is easy to get. Do not let this plan pass you by without taking advantage of it.

I have been underwriting mortgages for years. Recently, I got into a new business but I still wish to share my advice, tips, and industry inside happenings of the mortgage refinancing industry.
For more articles on Mortgage Refinance check out my website

Article Source:http://www.articlesbase.com/mortgage-articles/how-to-refinance-a-mortgage-using-obamas-stimulus-1771205.html

Filed Under »  refinanced mortgage    |   No Comments »
23
Jan

How To Get 2% Interest Rates by Mortgage Refinancing or Modification with Obamas Stimulus

Author: admin

Millions of homeowners can now get approved for a mortgage refinance with 2% interest rates thanks to President Obamas stimulus plan. This is easy to do and designed to help homeowners in nearly any financial situation. Here is how homeowners can easily use this stimulus program and get a 2% mortgage refinance for themselves with President Obamas stimulus.

This program gives cash incentives to mortgage lenders and banks every time they help a homeowner with a mortgage refinance or modification and follow the Obama stimulus plan guidelines. This means that not only are mortgage lenders and banks able to help more people than ever before, they are also happy to. The money they get allows them to take on more risks and take on more people in worse financial situations than ever before.

This money is the reason that mortgage refinancing or modification can be extremely beneficial right now. To get the money, the plan must be followed. Some of the benefits include low interest rates, the ability to get approved if the homeowner has bad credit or an upside down mortgage, and really easy to qualify for requirements. Millions of people can easily save hundreds of dollars per month by using Obamas plan for themselves and prevent their homes from being lost.

Homeowners need to contact their mortgage lender or bank and see if they are able to provide Obamas stimulus plan options for you. This program will help millions of people get a more affordable monthly home loan and save a lot of money. Take action now before things get worse, or more expensive and harder to qualify for.

I have been underwriting mortgages for years. Recently, I got into a new business but I still wish to share my advice, tips, and industry inside happenings of the mortgage refinancing industry.
For more articles on Mortgage Refinance check out my website

Article Source:http://www.articlesbase.com/mortgage-articles/how-to-get-2-interest-rates-by-mortgage-refinancing-or-modification-with-obamas-stimulus-1771755.html

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22
Jan

Get Home Mortgage Refinance Approval from Obamas Stimulus

Author: admin

Many homeowners are considering a mortgage refinance to take advantage of the near record low interest rates and President Obamas stimulus plan. However, many people have no idea what huge benefits the Obama housing stimulus plan can provide. Here are some of the biggest advantages to refinancing a mortgage right now with Obamas stimulus plan.

Since so many people are struggling to keep their home and are facing financial problems, the Obama stimulus plan provides some really bug benefits to homeowners. Some of the biggest things include:

-Easy eligibility requirements for every homeowner who needs help. Even homeowners who owe more than their home is worth, have bad credit, or who are facing other financial problems, can get approval from Obamas stimulus plan for a refinancing or mortgage modification.

-No closing costs or fees for a mortgage refinance or modification. These fees and costs are generally cost thousands of dollars the most homeowners do not have.

-Homeowners with a mortgage from Fannie Mae or Freddie Mac can get a mortgage modification no matter what their financial or home loan situation is.

Never before has lowering your home loan payments and preventing your home from being lost been this easy. The Obama stimulus plan is designed to help nearly any homeowner who is at risk of foreclosure or defaulting on their loan. Millions of people are able to use this program for themselves and see huge savings.

Homeowners should contact a mortgage lender or bank today and see what options are available to them from Obamas stimulus plan. This program will help people like no other program has before. It is truly easy to get approved for a mortgage refinance or modification with Obamas plan.

I have been underwriting mortgages for years. Recently, I got into a new business but I still wish to share my advice, tips, and industry inside happenings of the mortgage refinancing industry.
For more articles on Mortgage Refinance check out my website

Article Source:http://www.articlesbase.com/mortgage-articles/get-home-mortgage-refinance-approval-from-obamas-stimulus-1767067.html

Filed Under »  refinanced mortgage    |   No Comments »
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