Making Home Affordable
You may have been hearing more and more about this and with good reason. As millions of homeowners have become saddled with adjustable rate mortgages and no longer have the ability to refinance into a new loan, there may be only one solution for these stressed borrowers: taking advantage of new the new government programs like Making Home Affordable. What does it mean? It is a comprehensive plan to make the existing mortgage more reasonable with all time low mortgage rates and new guidline exceptions. Until recently this was only done for delinquent borrowers, however with such extraordinary circumstances it will now be used before homeowners reach this stage.
A Fresh Start
Making Home Affordable helps borrowers change their terms, interest rates, payments and have a chance to start over. By restructuring your loan to a fixed rate that will be more practical, increase your monthly cash flow, and in most cases give you a month off from your mortgage payment you can enjoy your home for years to come. Even homeowners who have been told "NO" because they didn't have enough equity, or their income has changed or had an investment property may be eligeble to take advantage of the new plans.
How do I know if I am Elegible
We have the ability to help you determine your elegibility, contact us today and to find out if you qualify. We are helping homeowners right now reduce the interest rate, monthly payment amounts and / or loan term to avoid foreclosure.
Do Lenders want to Foreclose on my house?
No! It is very common for lenders to lose money on foreclosures. This is worse if they are forced to claim ownership of a property. In areas hit hardest by foreclosures, lenders lose even more. This is good news for you since lenders and their investors do not want to lose on your loan.
But unfortunately you are often just a number in their spreadsheet. While you can negotiate on your own behalf often times you may hear that there is nothing you can do to modify your loan, however this isn’t always true. By using our expertise we can often help turn no into yes
