Upside Down Mortgage

Posts Tagged ‘banking’

Mortgage Modification Us Bank

Question: Why can't I find a company to help me with a loan modification?

My husband and I are in one of those ARMs which is terrible because we now owe more for the house than what we bought it for. NOBODY is willing to help us. Our current mortgage lender, Chevy Chase Bank is not working with us on the loan modification. We're finding that every place we're being told to call, nobody will help because we're not in foreclosure. We just need help with getting out of the arm. The places we do find that will help want like $3000. Anybody have any answers?!?!? It's so frustrating when you're trying to do the right thing but nobody will help you. I wonder why so many people are in foreclosure.

Answer: Even the 3k will not get you a modification. What you need is to refinance, not modify your loan. Modifications are to avoid foreclosure, not avoid the fees associated with refinancing.

Mortgage Short Sale, Foreclosure & Real Estate Marketing, Loan Modification Attorney

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Obama Mortgage Relief 2009

Question: Does Obama Know What He's Doing?

The furor over the huge federal spending under President Obama - a $1.75 trillion deficit, 13 percent - obscures an even more basic question: Does he know what he is doing?

That is, does he know how to do anything other than spend?

His stimulus package, of course, took no special ability: He left the details to Democrats in Congress. But his two other major initiatives - his banking and mortgage-relief plans - are both flawed and unlikely to solve their respective problems.

Indeed, they're so wide of the mark as to prompt questions not of Obama's ideology but of his basic competence.

The bank-bailout plan seems to be largely stillborn. Having wished that the private sector would flock to invest in toxic assets if offered the right incentives, the Treasury secretary is still hoping. Crossing his fingers seems to have replaced effective policy in his planning.

http://www.realclearpolitics.com/articles/2009/03/boggled_obama_can_president_ge.html

Answer: Barack Obama, and his liberal henchmen, are preparing the US for our transition into socialism. He knows that his ENORMOUS increase in GOVERNMENT spending will do nothing to stimulate our CAPITALIST, Business run, economy. He doesn't expect it to help businesses at all, he expects it to decrease the population's trust of our free market economy so that we will run to the Feds with our tails between our legs. Once our economy hits rock bottom, Messiah Obama will swoop in and "save us" with a "New new deal". Obama seeks the same power over our economy that his european counter-parts enjoy over theirs.
So yes, Obama knows exactly what he's doing.

America is not socialist and hopefully never will be.
We need to oust this would be tyrant ASAP

Speech at the Boston Tea Party April 15 2009 Boston

Mortgage Help Indiana

Question: where can i get a loan to buy a house after filing chapter 7 bankruptcy?

I live in Indiana, I'm filing chapter 7 bankruptcy, found another home I would love to buy, and that I can actually afford this time! I've been told that it is possible to buy a house even one day after disclosure, does anyone know of a mortgage company that will do this?

Answer: I am a loan officer that specialized in providing mortgages for people with recent bankruptcies (0 - 36 months from discharge).

There are actually many loan programs that do not require any waiting period after a bankruptcy discharges. However, these programs have other guidelines that make getting a mortgage right after the discharge very difficult.

Here is what you need for most home loan programs that have no waiting period after a bankruptcy discharges:

1. Bankruptcy must be discharged.

2. Twelve months worth of verifiable rent or mortgage payment history (I do have several programs that do not need this).

3. Two credit scores over 600.

4. Credit history - usually one account with 24 months and two with six months history. They have late payment history but they cannot have been charged off, included in the bankruptcy or sent to collections.

5. Income sufficient to pay the mortgage and your other bills.

Even if you can meet the five conditions listed above often you still will not be able to be approved for a loan. Funding a home loan after bankruptcy is like reaching safe ground after walking through a mine field. So please, do not be over confident because you meet these conditions and only use an experienced loan officer that specializes in this type of loan.

Reverse Mortgages in Hamilton County, Indiana, Indianapolis, Noblesville, Carmel, Fishers, Westfield