home lenders refinance mortgage

July 30, 2010

are these scams too?

Filed under: Other - Business & Finance — Tags: , , , , , , , , , , , , , , — admin @ 3:23 pm
pppppffffttt asked:


i asked about car title loan places and i get these, whats up for real w/ them?

Hello I am Mark Maxine by name, the (MD) of Mark loans venture i am a Reputable, Legitimate an accredited money Lender.I give out loans to Individual and companies in need of financial assistance.Do you have a bad credit or are you in need of money to pay bills? You can use this medium to solve all your problems as i render reliable beneficiary assistance and will be glad to offer you a loan at 3% interest rate. Services Rendered include: *Refinance *Home Improvement *Inventor Loans *Auto Loans *Debt Consolidation *Horse Loans *Line of Credit *Second Mortgage *Business Loans *Personal Loans *International Loans Please write back if interested. Upon Response, you’ll be mailed a Loan application form to fill. (No social security and no credit check, 100% Guaranteed!) I Look forward permitting me to be of service to you. You reach us via e-mail:mark_maxine700@yahoo.com

7 hours ago
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Hello,
I am Frank Petti by name, the C E O of Petti Micro finance, i am a Reputable, Legitimate & an accredited money Lender.I give out loans to individuals and companies in need of financial assistance.Do you have a bad credit or are you in need of money to pay bills?
You can use this medium to solve all your problems as i render reliable beneficiary assistance and will be glad to offer you a loan at 5% interest rate.
Services Rendered include:
*Refinance
*Home Improvement
*Inventor Loans
*Auto Loans
*Debt Consolidation
*House Loans
*Line of Credit
*Second Mortgage
*Business Loans
*Personal Loans
*International Loans
Please write back if interested.
Upon Response, you’ll be mailed a Loan application form to fill.
(No social security and no credit check, 100% Guarantee!)
I Look forward permitting me to be of service to you.
You reach us via e-mail:info@pettimicrogroup.co.cc

office number, 00233-28-52-52-676,

(C E O) Tel-+233-24-82-40-801,

Fax-00233-217-134-43,
5 hours ago
thanks guys! i kinda figured but you know, desperate times….how sad they prey on down and out people!

Lynn

Obama’s Home Affordable Plan – Refinance Or Modification?

Filed under: Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 6:38 am
Heather Herman asked:




You have heard a lot of discussion about Obama’s Home Affordable Plan, but you are not quite clear on the whole thing. What is the difference between a refinance and a modification?

President Obama introduced his program to help struggling homeowners in early 2009. The economy was swiftly headed downward when he came into office. Therefore, this became one of his first initiatives. He wanted to stop the rising level of foreclosures across the United States.

He did this through two different measures: refinance and modification programs within his Home Affordable Plan. After a year of operation, the refinance program had helped 4 million people save over $7 billion. Over a million people received loan modifications, and the average amount saved on monthly payments is $500.00.

Refinance is an option only available to those who are current in their mortgage. You cannot have been more than 30 days late with a payment in the last year. With a refinance, you are basically refinancing into a better loan. The reason for this government program is to help those who no longer have enough equity in their home due to dropping housing prices. This program allows the homeowner to refinance without the traditionally required 20% equity in the home. A homeowner can owe up to 125% of the value of the home.

Loan modification is for homeowners who are not current in their loan. You can be facing foreclosure and still get a loan modification. Actually, you must be either in default already or in imminent danger of being so very soon to qualify.

A loan modification through Obama’s Home Affordable Plan takes an existing loan and reworks the terms to achieve a lower monthly mortgage payment. Through this program, the late fees and penalties are forgiven, and this allows the homeowner to get a fresh start. Usually any money owed on back taxes or anything else can be worked into the life of the loan.

Sherry

July 27, 2010

Streamline Your VA Home Loan Refinance

Filed under: Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 9:36 am
L. Sampson asked:




Because of all that they do for us, veterans get special consideration when it comes to getting mortgages for homes. Likewise, there are also special programs for veteran to refinance their VA home loans with special rates and considerations. If you are a veteran, you can get a special VA home loan refinance through a streamlining process through the Veteran’s Administration. If you want to refinance your VA home loan, looking into the streamlined process may be a good idea.

Reducing Your Interest Rate

If you are doing a straight refinance, and you want a lower interest rate, this is what the streamlined VA refinance home loan is designed for. There are special considerations that make it a very easy choice when you are ready to refinance your VA home loan:

1. Such loans have no maximum loan amount

2. You can avoid paying mortgage insurance premiums

3. A streamlined VA refinance home loan does not require an appraisal

4. Verification of your assets, as well as your income, is skipped in this loan process

5. There are no costs that you have to pay up front

6. A small funding fee of .5% is all that is charged to you as a closing cost

Convenient Process

Because you do not have to jump through the same hoops as other people do when it comes to a VA home loan refinance, you can feel confident that you are saving thousands of dollars in the long run by taking advantage of the special streamlined process the VA offers to veterans who want to refinance their VA home loans.

Other VA Home Loan Refinance Options

If you want to do more than simply lower your interest rate, you can do so by getting a cash-out VA refinance, or a debt consolidation loan. However, getting this loan is not as easy as taking advantage of a straight, interest rate reduction home loan refinance. The amount of equity in your home will have to be determined. Additionally, you should realize that you can only borrow up to 90% of your home’s value. You can use a cash-out loan for things like home improvements or a well deserved vacation.

Rick

July 24, 2010

Refinancing disaster – mortgage consultants please help?

Filed under: Renting & Real Estate — Tags: , , , , , , — admin @ 5:23 am
nikki22 asked:


I recently purchased my first home in February (in Mass) and at that time the lender told me that he would refinance me in 6 months to a lower rate on certain conditions, in which I have his promise in writing. I have recently contacted him to begin the refinancing process, in which I have met all the lenders conditions/criteria, and he is now telling me he can’t do it. Can someone please help me as to what step I can take next. I have contacted the supervisor of the consultant who wrote the loan and the original consultant and his supervisor are now giving me the run around. Can I report them to a investigation bureau? After all, I have their promise to refinance in writing………

Jeanne

July 23, 2010

Has anyone been put in a subprime predatory lending AMR mortgage? If so, did you have to file bandruptcy?

Filed under: Renting & Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 2:47 pm
blueeyes asked:


Subprime Predatory Lending Crisis that’s hitting alot of hardworking people buying their first home and then the lenders accelerate your income without your knowledge and in six or seven months you need to refinance because you have an AMR mortgage. Has anyone experenced this? If so, my family has been included in a documentary that was done in NOrth Carolina by the Center for Responsible Lending and the North Carolina Realtors Commsion and also the Banking Commisoner. Tell me your story? Let me also know where we can go live after bankruptcy.
Yes, and your realtor’s husband didn’t do the inspection and this was our first home after nearly twenty-five years of marriage and, maybe it was my fault since I had did all of our business after working for our local police dept for nineteen years I was just diagnoised with MS and I already had Lupus with siezures and mini-strokes. So, I do take responsibility for this and believe me I had no idea that our realtor would do what she did. I guess we were taken but you have a child that was misdiagnoised at the age of two and had forty-two brain surgeries before she was fourteen. But, God is great and she’s in nursing school now we will be okay. We have done a documentary for the Center for Responsible Lending and the Attorney General of NC. It will be on u-tube in another week or two!!! So you can keep you jugments to yourselves because God deals with everybody in the end! Doesn’t he!!! God Bless and I hope your holidays are great!!!

Heather

July 22, 2010

Who do Credit Bureaus work for?

Filed under: Credit — Tags: , , , , , , , , , , , , — admin @ 12:49 am
stoptheinsanity_73 asked:


I’m mad. Checking my FICO score from one of the 3 major credit bureaus, I see a score much lower than I expected. Upon review of the factors that impacted my score most, are 2 new factors I have never seen before. Both center around the idea that my home loan has too little credit available on the loan. Each just says it differently.

My home loan is a refinance. The financed amount does NOT reflect the value of my home. Therefore the “available” credit is technically much higher as you calculate my equity into the picture. In addition, as a refinance, there wasn’t a down payment. I did that on my initial loan many years back. Since they know many homeowners recently refinanced, it’s like they want to help credit lenders charge consumers more to borrow credit. They stack the chips against us. The fact I pay my bills on time and have for many years now and that I have zero negative marks apparently has less weight than my “newly refinanced mortgage”. It’s absurd and unfair.
Credit Bureaus, mandatory auto-insurance, the IRS, multiple overlapping taxes… these represent organizations & legal requirements that are proving time and time again that there are not enough protections in places for the average citizen. Remove the “power” given to them or put in place better consumer protections.
The age of the loan is about 2 years now. Since that time my score has gone up and now back down. I have no recent credit requests, no bad debt, and all payments are ontime. The only thing new is their 2 impact factors that didn;t appear previously 2 years ago when my home loan WAS new.

The different scoring methods sound far more complicated than it seems they should be, How would any consumer ever understand the impact on their credit when the playing field seems to change under their feet. Keep it simple: I pay my bills ontime. I have no bad debt. I agree, base it on available credit, but don’t add new reasons to lower my score conveniently around the time of the mass refinances in the past few years. Something is fishy.

Marcia

July 18, 2010

Home Refinance Stimulus Package – Look What Obama’s Stimulus Package Can Do For You

Filed under: Real Estate — Tags: , , , , , , , , , , , , , , — admin @ 6:00 am
Katelyn Tuttle asked:




Under Obama’s leadership, the federal government has begun a series of steps to help alleviate the burden that the housing boom-then-bust has caused the American taxpayer and also the lenders. The home refinance stimulus package for mortgage refinancing and loan modification can do some amazing things for you if you are in need and qualify. What do you need to know about this package? Here is some needed information for you.

There are two main components to the package. They are: 1) refinancing and 2) loan modification. With the refinancing plan, the house must be occupied as the primary residence by the person who took out the mortgage. If that condition is met, Fannie Mae or Freddie Mac refinance the loans of any home that is upside down – that is, the owner owes more than the house is worth.

With the loan modification component, lenders and borrowers can agree on different terms for the mortgage. In order to qualify, again, the property must be your primary residence. Also, you must show economic hardship. Once you do that, the lender applies a formula and may lengthen the term of the mortgage up to forty years, reduce the interest percentage, and/or otherwise negotiate terms in order to get the mortgage payment down to no more than 31% of the household’s gross monthly income.

With Obama’s home refinance stimulus package, you may be able to keep your home rather than losing it to foreclosure, even if you are unable to meet your current payments.

If the bad economy has struck your household and you are having difficulty making your mortgage payments, do not wait until it is too late. Contact a professional who specializes in his type of arrangement or contact your lender directly yourself.

Jared
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