Upside Down Mortgage

Posts Tagged ‘youtube’

New Mortgage Help From Government

President Obamas “Making Home Affordable” plan will save millions of homeowners a lot of money, their home from being lost, or both. Many benefits are now available through new mortgage refinancing and modification programs thanks to over $75 billion in Government funding. Here is how you can use this stimulus for yourself.

Right now, cash incentives are being given to mortgage lenders and banks who follow the Obama administrations guidelines and help homeowners. This help will come in the form of mortgage refinancing and modification. The thinking behind this mortgage bailout is that no matter what the economy or housing market is like, if a homeowner can afford their monthly loan payments, they will make them. To accomplish this, many benefits are now available to homeowners, some of the biggest ones are:

-Monthly mortgage payments must not be more than 31% of a homeowners gross monthly income. This includes home fees, insurance, and other costs.

-Mortgage rates can be lowered to as low as 2%. This will dramatically decrease a homeowners monthly mortgage payments.

-Homeowners with bad credit and other financial problems, including upside down mortgages, can still get approved for home loan help.

-There will be no closing costs or fees for homeowners who use this plan for mortgage refinancing or modification.

This program is designed to lower the foreclosure rate, and will help has the ability to help millions of people. This is because the government will provide cash incentives to mortgage lenders and banks every time they approve and help a homeowner according to the Obama administrations guidelines. This means that getting help with a home loan is now easier than it ever has been before, for homeowners in all types of situations.

If you are a homeowner who needs to lower your monthly payments, avoid foreclosure, or both, use this program for yourself. Contact your mortgage lender or bank and ask how Obamas stimulus can help you save your home and a whole lot of money. Take action before your problems get worse.

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 Mortgage Refinance and Modification Guidelines from Obamas Stimulus

Tax Credit for First Time Home Buyer Mortgage, $8000 Government Assistance Program for Home Finance

If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!

Government Mortgage Help Website

Question: Government or a company pays all or part of seniors mortgage and then own the house when you die?

ive heard of such a program that pays your monthly mortage but then owns your house when you die, not your heirs. is there such thing? and if so can i have some more info like a phone number or website? thanks

Answer: It's called a reverse mortgage. A loan company or bank will pay money that is the value of the house. When the owner dies, the company sells the house to recover the money plus profit.

Mortgage Problems Explained

Underwater Mortgage Help 2009

Question: If 48% of homeowners will owe more on their home mortgage than their home is worth by 2011 how are we going?

to have an economic recovery?

Won't that mean many more foreclosures ahead?

http://money.cnn.com/2009/08/12/real_estate/housing_mortgages_underwater.fortune/index.htm?postversion=2009081212

iamct01: Do you really think its the homeowners faults when property values plummet? I dont.

Answer: No, we won't.

Yes, it will.

Some people don't know the ins and outs of property values. They just have an opinion.

The present scenario is going to lead to market stabilization, with the result that a majority of former homeowners will no longer be able to afford a home, nor buy one anytime soon.

This means that a majority of the houses formerly owned be Americans and legal immigrants will now belong to foreign investors. Once they have that much control over home prices, you can kiss the "free market" goodbye.

Town Hall Meeting LA Anger 2009