Federal Loan Modification Program 海底捞再发声明 吉林松原发生地震

Advertising As many of you might have already heard President Obama has just came out with a new mortgage rescue package which is fixing to be unveiled to the public on March 4, 2009. The goal in this rescue plan is designed to help many homeowners in this mortgage turmoil that has gripped the whole country. Some of the most troubled mortgage areas has been the areas that have traditionally gone up and down very quickly in their home values. Those troubled areas have been primarily Florida, California, Arizona, Michigan, Nevada. All the other states have been feeling some of the effects too. Millions have lost their homes to foreclosure, and the numbers continue to rise at an alarming rate. Many homeowners believe that their is no real help out there for them after they have been turned down time and time again by their lenders to have their loans modified to a new low fixed rate mortgage payment. see With the former administration, several mortgage rescue plans came out under President Bush’s administration. However, the problem mortgages continued to rise. They were hoping the mortgage crisis would bottom out, but we have yet to see a bottom in the housing market with it’s ripple affect in just about all industries. The problem with the mortgage bailout under the prior administration is that allot of homeowners were excluded out of that plan. The plan was set to modify homes of individuals who might have been able to qualify for a refinance, but many opted for a loan modification instead. There were provisions in the plan for Fannie Mae and Freddie Mac, HUD Loans, and of course many mortgage companies had provisions set for individual in extremely unusual circumstances. Many homeowners still did not qualify. For example, if a homeowner had too many bill and was always late on their payments, or if the homeowner did not have a HUD, Fannie Mae or Freddie Mac home loan or loan securitized by one of the above then they did not qualify. Unless they had privy information that some individuals in the mortgage industry might not even have, then they stood no real chance of getting a new lower loan payment. The new plan that is still being worked out by President Obama is expected to take this mortgage rescue plan to the next level. It is believed to be the plan that will allow the market to bottom out which will stable the housing market, in turn which stabilize our economy ,start creating new jobs and boost our economy. Some of the details that have came out to just a select few, but not with all of the details yet; it’s still sketchy. An overview of the plan with the remaining details are expected to coming out on March 4TH, 2009. Mortgage companies and homeowners alike are eagerly anticipating it’s arrival. Under the new homeowner affordability and stability plan, eligible borrower who are on time with their payments, but have been unable to refinance due to their home value eroding, may now have an opportunity to refinance into a new 15 or 30 year fixed rate mortgage loan. Fannie Mae and Freddie Mac will be allowing refinancing of loans that they hold or that are have been mortgage backed securities. If you owe more than your property is worth, eligible loans will now include loan where the 1St loan will not exceed 105% of the current market value of the home. Lets say you owe $315,000 on your loan but your house is worth at least $300,000 then you may qualify for refinance. The details will be announced March 4Th, 2009. Some of the requirements will include having enough income to make your new payments and having a decent payment history. This loans are limited to Fannie Mae and Freddie Mac backed loans. About the Author: 相关的主题文章:

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