Do you need to have better credit to help you qualify for Mortgage
Relief refinancing?
Today, there is a free Credit Repair Webinar being given by the
Founder of Fix Credit Biz.com
Credit Repair for Potential Clients
David George the founder of FixCreditBiz will be giving the
credit repair presentation personally, and taking questions.
Click here to register
https://www2.gotomeeting.com/register/453785107
May 20, 2009 9:00 PM - 9:30 PM EDT
Wednesday, May 20, 2009
Thursday, May 7, 2009
Problems for Lenders Go Wide and Deep
In today's economy, the Market is filled with nothing short of
chaos, presenting many problems for lenders and mortgage debt
servicers...and those problems go wide and deep.
Over the past two years, consumer bankruptcy filings have more than doubled.
Bankruptcy filings by individuals jumped by nearly one-quarter in just one month.
Borrower bankruptcies continued to climb and are expected to increase further.
Those who refinanced with ARMs tied to the MTA index are sitting with
low rates. May 2004 was the last time that the Monthly Treasury Average
has been this low.
Those who refinanced with ARMs tied to the COFI index are doing good
as well. Just when it appeared that the Cost of Funds Index couldn't go any
lower, it sank to its lowest level on record.
Judges across the country are ruling in various ways against banks and it's
servicers. A South Carolina supreme court judge has halted foreclosures
on Fannie Mae and Freddie Mac loans.
The moratorium is targeted at loans that qualify for modifications under
federal programs.
Two other big states have also recently extended the time needed by lenders to foreclose.
In the News you'll hear reports that sales are up and the market is coming
back...don't believe it. U.S. bankers continue to tighten their residential lending.
Why? Because most bankers expect further deterioration in their portfolios.
Delinquency has continued further into record territory.
At the same time, Fannie Mae has made changes to its requirements for
using nontraditional credit scores. Depending on the sources, a total of four
to six sources are required, and one of the nontraditional sources used in
developing a nontraditional credit report must be housing-related.
Fixed mortgage rates sit at the lowest point since Freddie Mac began
tracking them... trading in Treasuries suggests fixed rates may head higher.
chaos, presenting many problems for lenders and mortgage debt
servicers...and those problems go wide and deep.
Over the past two years, consumer bankruptcy filings have more than doubled.
April consumer bankruptcy filings were 125,618, the American Bankruptcy Institute reported.
Bankruptcy filings by individuals jumped by nearly one-quarter in just one month.
Borrower bankruptcies continued to climb and are expected to increase further.
Those who refinanced with ARMs tied to the MTA index are sitting with
low rates. May 2004 was the last time that the Monthly Treasury Average
has been this low.
Those who refinanced with ARMs tied to the COFI index are doing good
as well. Just when it appeared that the Cost of Funds Index couldn't go any
lower, it sank to its lowest level on record.
Judges across the country are ruling in various ways against banks and it's
servicers. A South Carolina supreme court judge has halted foreclosures
on Fannie Mae and Freddie Mac loans.
The moratorium is targeted at loans that qualify for modifications under
federal programs.
Two other big states have also recently extended the time needed by lenders to foreclose.
In the News you'll hear reports that sales are up and the market is coming
back...don't believe it. U.S. bankers continue to tighten their residential lending.
Why? Because most bankers expect further deterioration in their portfolios.
Delinquency has continued further into record territory.
At the same time, Fannie Mae has made changes to its requirements for
using nontraditional credit scores. Depending on the sources, a total of four
to six sources are required, and one of the nontraditional sources used in
developing a nontraditional credit report must be housing-related.
Fixed mortgage rates sit at the lowest point since Freddie Mac began
tracking them... trading in Treasuries suggests fixed rates may head higher.
Tuesday, May 5, 2009
Is Your Home Worth Less Than What You Paid?
Are you stuck in a bad home loan? Is your home worth less than what you paid? Is your interest rate too high or ready to adjust soon? Are you late or in danger of foreclosure?
Attorney negotiation specialists can help you deal with servicers and lenders
- reduce your principal amount,
- get a lower fixed rate
- clear up your credit
- avoid bankruptcy
- avoid Foreclosure
- You can reduce your monthly payments
with a Mortgage Modification
If you are behind in your payments, you will want to act quickly.
Here is a site where you can get a Free Mortgage Analysis to see
if you qualify for Mortgage Relief.
It IS possible to have your current mortgage reveiwed
AND
It IS possible to have you old mortgage re-written as a new
mortgage at today's home values.
If your home is worth less than what you paid and your current
mortgage is for more than the home is worth today, you will want
to consider getting Mortgage Relief and a new loan at today's value.
If you want to qualify for the best mortgage rates and currently
have some bad credit entries on your credit report, go see the
Free Tutorial Video to clear up your credit
Subscribe to:
Posts (Atom)