Maybe this will be your next cool home. Never, Never give up !!!!!!!!
Friday, March 18, 2011
GETTING HELP FROM FANNIE MAE...
We're here to help
If you're struggling to pay your mortgage, the newly created
Making Home Affordable Program may offer the help you need.
Fannie Mae Mortgage Help Centers
Check these Links for direct help from Fannie Mae.....
Monday, March 14, 2011
SOME LOANS CAN BE RENEGOTIATED..
More loan modification options coming
Six months after the Federal Housing Administration (FHA) announced an $11 billion refinancing initiative for these “underwater” borrowers, nearly two dozen lenders have agreed to take part in a new loan modification program. The FHA program — called Short Refi — requires major concessions from lenders, which must agree to write off at least 10 percent of the principal balance, and from investors, who, if they own the mortgage, must also agree to the deal. To qualify, homeowners must be current on their monthly mortgage payments and not already have an FHA loan. The size of the new primary loan cannot be more than 97.75 percent of the current value of the property; refinanced loans for homeowners whose properties carry second liens cannot exceed 15 percent of the property value.
Six months after the Federal Housing Administration (FHA) announced an $11 billion refinancing initiative for these “underwater” borrowers, nearly two dozen lenders have agreed to take part in a new loan modification program. The FHA program — called Short Refi — requires major concessions from lenders, which must agree to write off at least 10 percent of the principal balance, and from investors, who, if they own the mortgage, must also agree to the deal. To qualify, homeowners must be current on their monthly mortgage payments and not already have an FHA loan. The size of the new primary loan cannot be more than 97.75 percent of the current value of the property; refinanced loans for homeowners whose properties carry second liens cannot exceed 15 percent of the property value.
read more helpful info at...http://www.smartrealestatenews.com/
From Larry Tutino, Blog Founder
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