Mortgage Refinancing, delinquent borrowers may Refinance Mortgage Through Government Backed Loans
August 7 2008 Mortgage Refinancing, delinquent borrowers may Refinance Mortgage Through Government Backed Loans.The FHA Secure program gives hope to troubled homeowners needing to refinance their homes
Mortgage Refinancing
It is estimated that million properties in the US could be lost to foreclosure if the current trend continues to the end of the year
Almost half a million homeowners have already lost their properties in the first half of 2008, nearly double the same amount a year ago. And already pre-foreclosure filings have surpassed the one million mark, according to research by ForeclosureS.com.
With almost a half-million Americans losing their homes in the first six months of the year it means that six of every 1,000 households nationwide have been repossessed by the bank so far in 2008,But hope is on the way
U.S. Department of Housing and Urban Development Secretary Steve Preston announced that 300,000 families have refinanced their mortgages with HUD's affordable mortgage insurance program. Since September 2007, FHASecure - the Federal Housing Administration (FHA) refinancing product - has provided struggling families with expanded access to safe and affordable mortgage financing.The FHA is on pace to help 500,000 families refinance mortgages by the end of the year.
Hope, Homeowners Even delinquent borrowers may receive Refinancing
·August 2007 - President Bush launched a new initiative at HUD's Federal Housing Administration (FHA) called FHASecure to help hundreds of thousands of struggling homeowners - especially low-income families and minorities - avoid foreclosure. This product expanded FHA's ability to offer refinancing to homeowners who have good credit histories, but cannot afford their mortgage payments after their teaser rates reset.
·February 2008 - President Bush requested $65 million for housing counseling in his Fiscal Year 2009 budget request. The Administration has increased funding for HUD's 2,300 approved housing counseling agencies by 150 percent since 2001. Fifty million dollars was approved for counselors in Fiscal Year 2008. Another $180 million went to the non-profit NeighborWorks this year to help them prevent foreclosures.
·March 2008 - As part of the bipartisan economic growth package, FHA temporarily increased its loan limits until the end of this year, enabling hundreds of thousands of more families to purchase or refinance their homes at an affordable price. The new temporary limits will range from $271,050 to $729,750.
·July 2008 - FHA expanded FHASecure to help homeowners with adjustable rate subprime mortgages who can no longer afford their mortgages and missed up to three monthly mortgage payments over the past 12 months. Rather than go into foreclosure, eligible borrowers can refinance with FHA and lenders can voluntarily write down the outstanding subprime mortgage principal balances.
July 2008 - President Bush signed into law a plan for the FHA to continue providing targeted mortgage assistance to homeowners. The Hope for Homeowners program will allow certain borrowers facing difficulty with their mortgage to be eligible to refinance into FHA-insured mortgages they can afford. The program will be implemented on October 1, 2008.
The Federal Housing Administration (FHA) was established in 1934 to offer mortgage insurance on loans through FHA-approved lenders. The FHA insures mortgages on single and multi-family homes, and other approved purchases such as manufactured homes. The FHA does not issue the loans themselves, but FHA mortgage insurance is quite attractive for a prospective lender because FHA mortgage insurance protects the lender's investment. Should a homeowner default on the mortgage or go into foreclosure, the FHA pays the lender.
FHA Secure Mortgage Refinancing
Starting July 14, an expanded FHASecure refinancing plan allows homeowners who have missed up to three mortgage payments in the last 12 months under certain circumstances to avoid foreclosure with FHASecure.
You don't need an existing FHA home loan to qualify for an FHASecure refinance loan - the program is designed to specifically to help those without FHA loans to get lower payments, prevent default and foreclosure, and protect their investment.
·Homeowners with current or delinquent non-FHA adjustable rate mortgages are eligible.
·You are not automatically disqualified based on delinquency on your current loan.
·You must have a dependable income and be able to make your mortgage payment.
·If you are in default, you must show delinquency or default is the result of increased interest rates and the resulting higher mortgage payments.
·If you are current on your mortgage payments, any type of conventional loan is eligible for FHASecure refinancing.
In addition to these specifications;
·"Those who are current on mortgage payments can refinance non-FHA fixed rate or adjustable rate mortgages. Those who are behind on their mortgage payments may only refinance adjustable rate mortgages.
·"Borrowers may be required to verify their mortgage payment history through the mortgage servicer or with canceled mortgage payment checks.
·""Cash out refinancing" is not eligible under FHASecure.
FHASecure refinancing is available for single-family or multi-family homes and manufactured homes. A new FHA premium pricing plan goes into effect on the same date the expanded FHASecure refinancing program begins, July 14 2008. Borrowers should know this "second chance" refinancing does not indicate relaxed requirements for credit. Borrowers applying for FHASecure are subject to the same requirements as any other applicant for an FHA loan. Delinquency issues for mortgage payments aside, loan officers still require proof you are a good credit risk. Borrowers should;
· Have steady income from a dependable source.
· Show a reliable payment history on other debts.
· Have a debt-to-income ratio below 41%.
· Have a credit score appropriate for any home loan.
If you are need further explanation of the terms or conditions of FHASecure, be sure to ask your loan officer for clarification before you sign.
FHA secure link
http://www.fha.com/fha_secure.cfm
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Rente lening The interest on
Rente lening The interest on a loan not only varies from bank to bank. They depend mainly on the type of credit you need. We calculate for you the lowest rate in three categories
Loosing their homes with a
Loosing their homes with a rapid way is not good for them as they have to pay a lot for this whole sequence.I am sure that this problem can be solved within very short time period and will make some effective uses in it.There are no such other options providing a lot of refinancing facilities to them.portland mortgage refinance
YOU GOT THE CORPORATE
YOU GOT THE CORPORATE FORECLOSURE FRAUD BLUES
Bank of America, Brian T. Moynihan cashes your checks but Bank of America, Brian T. Moynihan cannot correctly post your payments.
Bank of America, Impac Mortgage and Reconstruct Company, Steve Curry, Jason Curry, Reconstruct Company, Wendy McKnight, Tamara Brown, Kathleen Walker, Temena McGee, Michelle Langley, Ashley Stix, Brandon Coltin, & Brian Moynihan is illegally foreclosing on you, your family, your pets, your garage, your yard, your kitchen, your bedroom.
Last night you were depressed at their illegal foreclosure of your home,
so you called Lifeline, & each one of them.
Each time you got a call center in Pakistan.
You told each of them you are suicidal over their illegal foreclosure of your home.
Bank of America, Tamara Brown, Kathleen Walker, Temena McGee, Michelle Langley, Ashley Stix, Brandon Coltin, & Brian T. Moynihan, Impac Mortgage, Steve Curry, Jason Curry, Reconstruct Company, & Wendy McKnight, each & every one of them, asked if you could drive a truck.
Pity You Didn't Read The
Pity You Didn't Read The Small Print -
http://www.broowaha.com/articles/5170/pity-you-didnt-read-the-small-print.
Why is it always the Republicans who are always running to government for a bail-out, hand-out, protection, subsidy, etc!? That’s what bankruptcy is for!
Among other taxpayer funded assistance, Bank of America Corp., America’s largest bank, received $45 billion in federal funds from the Troubled Asset Relief Program (TARP), plus a U.S. government guarantee to limit losses on $118 billion of troubled assets, including those acquired by Bank of America’s purchase of Merrill Lynch.
Less than one year after receiving TARP funds, Bank of America was lobbying against new regulations on derivatives trading, including meeting with Rep. Barney Frank (D-Mass.), who chairs the U.S. House Financial Services Committee.
Along with Insider Mortgage Fraud, a type of derivative known as credit default swaps fueled then ignited the financial crisis, by creating large losses and linking the health of many financial institutions to each other.
Overall, terrorist Bank of America spent $3,680,000 lobbying in 2009. Terrorist Bank of America lobbied federal officials and lawmakers on financial issues that include the creation of a consumer protection agency for financial products, over-the-counter derivatives and credit default swaps, TARP oversight and executive compensation.
According to Bank of America lying hypocrite representative James Mahoney, Bank of America AGREES with the “policy direction†of a Consumer Financial Protection Agency (CFPA) and is NOT lobbying for or against the agency.
The terrorist bankers association, where terrorist Bank of America has its headquarters, takes a different view of James Mahoney’s public lie and IS openly lobbying against Consumer Financial Protection Agency. FOR themselves and ON behalf of Bank of America. WITH lying hypocritical Bank of America’s MAJOR financial support.
“Our industry group is beyond adamantly opposed to the CFPA. We’d use whatever word is stronger than adamant,†smugly bragged terrorist Thad Woodard, president of the North Carolina Bankers Association whose members proudly include hands in your pockets terrorists Bank of America and Brian T. Moynihan.
Title
Hi
No evidence provided by
No evidence provided by BrooWaha for their legal hot water allegations is automatically suspect. I gave Craig a lot of the stuff here. He figured out how to write compelling stories and to post them citing sources and posting evidentiary documents. Why isn't BrooWaha posting both sides? It is BrooWaha that is restricting Free Speech here. Craig B. is completely correct in everything he's written here. I can and will personally vouch for it. There is total veracity in Craig's exceptionally well-done exposes. I was one among many that gave Craig some of the conclusive evidentiary documents he's written about here and posted.
God Bless Craig B. I truly believe that without all that he has done here, the real reasons for why my now kicked under the wheels country with this Great Recession may never have been exposed.
Craig B. is completely correct in everything he's written here. The evidence for what Craig's revealed is compelling, reasonable and verifiable. There is a preponderance of that evidence. Much of that evidence is now posted several places on the Internet as well as remains in public records. All the exposed parties have had a chance to respond publicly FOR SEVERAL YEARS NOW in several easily available and accessible public forums; Internet, newspapers, courts. Realtor Keith W. Gledhill LOST in court.
Band Director and ballroom dance instructor James K. Olson and his attorney Steven T. Schoonover are CHEATING in California courts with their COUNTERFEIT SERVICES resulting in fraudulently based default CALIFORNIA judgements against a Nevada citizen. Investors Scott and Feather Dugan are also CHEATING in court resulting in the loss of my home and possessions and death of some of my pets. Nevada judge Steve Elliott, among other Nevada judges, ignores the CONFLICT-OF-INTEREST rules because his wife Mendy Elliott is up to her eyeballs in mortgage fraud with Wells Fargo, Rick Vaughan, Beverly Stewart, Sheila Walther, and Scott Bice.
The same thing is now happening to Craig that happened to the rest of us victims. The bullies are out to silence us. We are casualties of what they did and again when the bullies seek to cover it up by their lies, bribes or threats. The bullies are now out to silence Craig, a voice for us victims. There is no libel or slander here in Craig's exposes. Craig is the one being libeled here. He's the one here being publicly called a liar with no proof offered and being threatened, censored, even wrongly punished. And BrooWaha is censoring others by removing everyone else's comments in those articles.
Yes BrooWaha, that's censorship.
No evidence provided by BrooWaha for their legal hot water allegations is automatically suspect. I gave Craig a lot of the stuff here. He figured out how to write compelling stories and to post them citing sources and posting evidentiary documents. Why isn't BrooWaha posting both sides? It is BrooWaha that is restricting Free Speech here.
If what BrooWaha says is true about Craig, first prove it. We are still a country of innocent until proven guilty aren't we? Second, BrooWaha should post the allegations against Craig so we can see it/them and make our own determination of the truth. Courts are public records for a reason. So why isn't BrooWaha making everything public?
Why haven't these others alleged by BrooWaha for causing legal hot water for BrooWaha posted their comments and supporting docs at BrooWaha? Why haven't these others engaged in a public civil discourse at BrooWaha like so many others have?
The only libel and slander perpetuated here are against Craig. The only falsehoods perpetuated here are from the censorship of what's really happened and who did it that Craig accurately exposed so well here with input from us victims. I am happy to again say or even testify as such. Cheryl Hanneman http://activerain.com/blogsview/11892/can-anyone-help-these-people-in-ne...
Henry Wells of Wells
Henry Wells of Wells Fargo
May we all remember our lives our not measured by the number of years and days we exist, by what we accomplish while we do live, and good we may render to our fellowman. That was Henry Wells in 1878. Too bad his modern day Wells Fargo Bank forgot that. Like Wells Fargo employees Richard D. Vaughan, Mendy Elliott, Beverley Stewart, Amber Ziegler & Don Garrett.
Beware of Loan Modification
Beware of Loan Modification Documents -- Read Carefully!
Folks, as part of my ongoing misery with Countrywide -- after it failed to follow through with a loan refinancing deal because I refused to sign the loan application that CW employees completed with false information (they overstated my income and also showed me as having a $30,000 savings account when I had none at all!) -- Countrywide sent me a "loan modification" agreement. This process is apparently totally separate from any refinancing arrangements.
Supposedly, the loan modification was based on CW's discussion with the Attorneys General of various states that sued the company for fraud / deceptive trade practices. The letter I got from CW regarding the loan modification said I needed to do absolutely nothing to get a reduced interest rate and most importantly to us, a reduced monthly payment schedule. Yet when they sent the loan modification document, lo and behold, there was a paragraph in the document by which I agreed to give up any legal rights I might have against Countrywide based on alleged fraud or misconduct in refinancing. I refused to sign it. Nobody had ever mentioned that I was going to have to give up and release any claims I might have against this company. CW puts people in horrible economic circumstances, gets them over a barrel, so to speak, then knowing that a person in that position will do and sign almost anything to save the home, puts provisions in the loan modification documents to protect themselves from past lies and misconduct. How egregious is that?? Did Congress really give BOA and CW billions in funds so that the company could run roughshod over the rights of borrowers and silence their complaints of fraud and deception in the refinancing process? I think not.
The refinancing scam is going to prove more deadly to our nation than even the subprime loan origination practices that set our economy's downfall in motion. Sooner or later, the truth will come out. For those of us who are CW customers and have experienced this firsthand, there will be no surprise when it all surfaces. But it will likely be too late to reverse the damage done...
Where is the government oversight? Where is the "transparency" in Countrywide's handling of these matters that we have heard would be required of these monster corporations receiving billions from the federal government?
Note that Countrywide's attorneys -- in a court of law, mind you -- have stated that their refinancing offers are "not promises of anticipated future performance" on the company's part but are mere "puffery" ... What does this mean in plain-Jane English? It means, ladies and gentlemen, that CW's refinancing offers are absolutely meaningless. Also be aware that if your refinancing depends on an appraisal of your property, that Countrywide has been sued in the State of Washington for mortgage appraisal manipulation. Meaning, Countrywide cherry-picks appraisers to give the company the valuation that it wants, not the true valuation of your property. There are countless ways this company will scam you, defraud you and eventually send you to foreclosure.
Then of course when the refinancing fails, for whatever reason (a loan application that CW itself falsified, or a bogus appraisal on your property that results in you NOT qualifying after being promised and assured that you do), you get a loan modification document that will take away any legal rights you have against the company. BEWARE!!
Brandon
Under the Federal HUD
Under the Federal HUD (Housing & Urban Development), which is FHA and VA, and Feddie Mac and Fannie Mae rules, home loan/mortgage modifcations have been REQUIRED since SUMMER 2005. The home loan lender have NOT been following their own regulations and rules. That's 2 3/4 million ILLEGAL foreclosures so far!!!!!
Why do a refinance with all those very expense fees when you can do the required loan modification at zero cost? Is Your Lender A Patriot Or Terrorist? Part 2, http://www.babelation.com/?q=node/1730.
Just Do The Required Home Loan Modification, http://www.broowaha.com/article.php?id=4070.
Wells Fargo harbors Mortgage Fraudsters. Read Mortgage Fraudsters Among Us @ https://www.smashwords.com/books/view/5529
wells fargo pulls you along
wells fargo pulls you along for nine months pull 4 credit scores then tell you your credit score dropped during there 9 month process you dont qualify no more.
So you ask for answers their district manager calls you up and says how bad he feels wells fargo messed up not you,but theres nothing i can do. My credit score was a 730 when i started in April by november with all their credit cheks it was a 695 therefore after this long and us being the reason your credit score dropped we cant help. This is from the district manager, Ive never been late on a payment in the five years i had the loan.The thing that is the worst each month after 90 days they would tell me we were gonna close before my next payment was due.
Scott Skaggs
Gillette Wyoming
P.S. so tell me again who is
this loan for because WELLS Fargo
isnt trying to help.Email me if you
got any answers, Confused my email is
sjsk@bresnan.net