Upside Down Mortgage

Archive for March, 2007

Mortgage Help From Government 2009

Question: Why would we nationalize banks when government run banks cant run themselves?

Fannie Mae reported a $25.2 billion fourth-quarter loss Thursday evening and said its net worth dipped below zero, prompting the troubled mortgage giant to seek an additional $15.2 billion capital infusion from the Treasury Department.

http://www.bizjournals.com/washington/stories/2009/02/23/daily96.html

Answer: This is not about helping the banks. This is about spending so much money, no one will be able to cut taxes. This is about reparations. This is an excuse to raise taxes. This is an excuse to cause poverty and misery so more people will demand taxes on the rich. The more poor people the democrats can make, the more power they have. The party of the poor, needs to produce more poor people. The more poor people they create, the more power they will have. Banks are a personification of "the rich" Liberals are inciting envy of the rich with every single sentence of every speech they make. If you add poverty and envy, you get taxes on the rich.

The economy started to turn sour long before anyone realized it. It happened under Carter when the Democrats instituted a regulation called "The Community reinvestment Act" It forced banks to make loans to people who could never afford the loans. This created a force to increase the price of homes by increasing the supply of home buyers. Homes became an investment tool since there was a built in demand for homes. Housing prices spun out of control. During 2 of his "State of the Union Addresses" Bush mentioned the fact that there was a crisis looming in the housing market. Nancy Pelosi and Harry reed stood on the floor of congress and denied it. Pelosi even went so far as to claim Fannie and Freddie were being wonderfully run! Of course, no legitimate businessman would have conducted the nefarious business of the democrats at Fannie and Freddie, so they installed left wing political hacks who cooked the books to make it look like nothing was wrong. Lo and behold, just before an election, they let the ketsup hit the fan. Then they blamed it on Bush. when the housing market collapsed. My proof? The directors of Fannie and Freddie, never went to jail even after committing, what looks like, the most massive fraud in the history of the world.

I'm just going to throw out a wild thought. China with all the US dollars they are holding, will be buying up vast tracks of US land. I'll wager, some of that land just might be oil and mineral rich. What do you want to bet, China will give Obama an ultimatum. "Let us drill, or we will flood your country with your own money and make your currency worthless"

FHA- GOVERNMENT MORTGAGE LOW INTEREST LOAN, THROUGH A BROKER: January 22, 2009, 10:23 AM

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Gmac Loan Modification Denied

Ditech is taking part in President Obamas “Making Home Affordable” stimulus plan and offering new refinancing and mortgage modification options to homeowners. These new options are available to nearly all homeowners and will help people lower their monthly payments and avoid foreclosure. Millions of homeowners are able to use Ditech and these new options for themselves. Here are some thing you should know.

Ditech is one of a few selected mortgage lenders and banks who are approved to offer the stimulus plan and its options to homeowners. That means that homeowners looking to refinance should consider Ditech due to the benefits that may be available thanks to Obamas $75 billion stimulus plan. Some of the biggest benefits include:

-Monthly mortgage payments that are less than 31% of a homeowners gross monthly income. This includes taxes, insurance, and other home costs.

-Mortgage interest rates as low as 2% and the ability to extend mortgages in length in order to lower payments.

-The ability for homeowners with bad credit or upside down mortgages to get approved for mortgage refinancing or modification.

-No closing costs for refinancing a mortgage with Ditech and other lenders or banks who are offering refinancing options from Obamas stimulus.

While there are many other benefits to refinancing a mortgage, these are some of the major benefits of President Obamas stimulus program. Ditech has been chosen due to their experience and proven record of helping homeowners. With over $75 billion in funding, Ditech and other approved lenders and banks now have the financial backing and flexibility to offer homeowners more refinancing options than ever before. This will hopefully lower the rate of foreclosures and increase stability and home prices across the country.

Ditech mortgage refinancing options now exist for all homeowners. Even if you have been denied before, have bad credit, owe more than you home is worth, or are facing other financial problems, you can still get the help you need. Contact Ditech today and ask how President Obamas stimulus program can help you.

About the Author:

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

Source - New Ditech (GMAC) Mortgage Refinance Options from Obamas Stimulus

Loan Modification Banks

Question: does applying for personal loan affect ability to get mortgage modification?

My broker is looking into a mortgage modification for which he says I am eligible. I am also considering applying for a personal loan either from my bank or from a peer-to-peer lender. My question is; will applying for this loan negatively affect my mortgage modification and should I wait for it to be complete first? The loan is to consolidate high interest credit card balances which have recently increased rates to "maintain profitability" on the account.

Answer: All you can know about personal loan from this site. You can get some affordable good links from that site. It will help you a lot as it helped me.

http://personal-loan-info.freehostia.com/

All the best.

Loan Modification: Why banks HATE foreclosures right now