Obama Administration's Making Home Affordable Program

Goals of the Obama Administration's Making Home Affordable
Program are to reduce mortgage payments for At Risk Homeowners
and create financial stability at the local, State and National level
by reducing the number of defaulting loans and foreclosures that
have flooded the Markets in 2007 and 2008 and continue in 2009.


Some Highlights of the Making Home Affordable Program

• Clear and Consistent Guidelines for Loan Modifications

• Required Participation By Financial Stability Plan Participants

• Modifications of Home Mortgages During Bankruptcy

Allowing Judicial Modifications of Home Mortgages
During Bankruptcy When A Borrower Has
No Other Options

• Strengthen Hope for Homeowners and Other FHA Loan Programs

Reducing Monthly Payments

For many families, a low-cost refinancing could reduce mortgage payments by thousands of dollars per year. For example, consider a family that took a 30-year fixed rate mortgage of $207,000 with an interest rate of 6.50% on a house worth $260,000 at the time. Today, that family has $200,000 remaining on their mortgage, but the value of that home has fallen 15% to $221,000 – making them ineligible for today’s low interest rates that generally require the borrower to have 20% home equity. Under this refinancing plan, that family could refinance to a rate near 5.16% – reducing their annual payments by over $2,300.



Focusing on Homeowners At Risk

Homeowners at risk, such as those suffering serious hardships, decreases in income, increases in expenses, payment “shock,” high combined mortgage debt compared to income, who are “underwater” (with a combined mortgage balance higher than the current market value of the house), or who show other indications of being at risk of default may be eligible for a loan modification. Eligibility for the program will sunset at the end of three years.

How the Program Works

The Home Affordable Modification program has a simple goal: reduce the amount homeowners owe per month to sustainable levels to stabilize communities.

Now that you have better idea of the goals of Obama's Making
Home Affordable Program you may want to consider using a
service that offers you FREE PRE-QUALIFICATION using the
Guidelines of the Program Above. Find out if you Qualify!

No Closing Cost/No Credit Qualify Loan Modification Refinance

If you qualify, you will submit your details and Mortgage Loan
History and the company will perform a Forensic Mortgage Audit
and prepare the package that you will need to present to the Bank.

Using the same software program as the Lenders, our package
has a 90% success rate of acceptance.

If you run into any trouble, we have Attorneys on our list that
will help negotiate your Obama Loan Modification Refinance
on your behalf.

If you are behind in payments or about to be behind, ACT NOW

Contact Us: ObamaRefi@gmail.com

Do You Need Better Credit?

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

PR: wait... I: wait... L: wait... LD: wait... I: wait... wait... Rank: wait... Traffic: wait... Price: wait... C: wait...

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.

April consumer bankruptcy filings were 125,618, the American Bankruptcy Institute reported.

Filings rose from 121,413 in March and 92,291 during April 2008
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.

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
  

All of these things are possible 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

Home Sales Slow Despite Lower Prices Today

Here is a video for you:

• Slow Home Sales Despite Lower Prices

  Posted: Thu, 23 Apr 2009 15:32:06 GMT

  WSJ economics reporter Kelly Evans and Phil Izzo discuss the latest jobless claims and a report showing existing-home sales slowed despite declining prices.

Have you been trying to sell a home and watched prices fall in your market?

Are you in danger of missing mortgage payments or have you already fallen behind?

We have a resource that may be able to help you get a new loan under our
Mortgage Relief program...this is not a loan modification of your existing loan
but rather a new loan based on today's lower property values.

Fill in the form to have a Free Mortgage Review. You don't pay anything
until we believe we can help you. No upfront fees, get your
Free Mortgage Analysis today.

If you are accepted, you will be invited to become a client.

Our company and our law firm will take over and relieve you of
the stress of Foreclosure.

Do not deal with Scam Artists who want to take your money
first and give you a bunch of promises they can't keep!

Our Attorneys are licensed to practice law in Federal Courts in
all 50 States.

We will review your information Free and tell you if we believe
we can help you....100% Money Back Guarantee upon enrollment.

Anti-Predatory Mortgage Bill Moves Forward

Anti-predatory mortgage bill moves forward
is a featured article by Ruth Mantell of MarketWatch

An anti-predatory mortgage bill is moving forward in Washington following approval on Wednesday by a key House committee. Looking to ban dangerous practices, the Mortgage Reform and Anti-Predatory Lending Act aims to ensure that borrowers avoid overly costly mortgages, can pay back their creditors and receive better disclosures.

The House Financial Services Committee voted 49-21 to approve the legislation, and the full House of Representatives could take up the bill next week.

See full story

If you have been a victim of loan fraud or predatory lending...or
want to check to see if you were a victim of Federal Violations
on your current mortgage (purchase of refinance)...

You may apply for a Free Mortgage Analysis...you MAY be
eligible for a Mortgage Modification and, possibly, cash credit
back to your loan!

It won't cost you anything to find out...but you could save
thousands of dollars with a new mortgage!

Check the Free Mortgage Analysis Today

Broad Declines in Housing Prices, Get Mortgage Relief

Economists estimate there's a 10-month supply of unsold homes.

In March, almost half of the existing home sales were from distressed sales of foreclosures and short sales from institutions trying to undercut local "Homes for Sale" market prices (which we have talked about here, before).

The median (average) price for homes fell by 12.4% from March 2008. This means half the
home markets were down less than 12.4% but half the home prices fell by MORE than the 12.4% number, so 12.4% is the average, or median price drop.

Home prices experienced broad based declines during the month of February.

The S&P/Case-Shiller 20-City Home Price Index fell at an annualized rate of 18.6%.

While February's numbers were better than January's, the U.S. housing market remains unhealthy. This is why we say when State or National Realty Organizations seem to be
excited about "market sales are going up, we could have reached the bottom" they are just
trying to blow smoke over a bad market and hope to encourage buyers to come out of hiding.

Meanwhile, the sales numbers now have little to do with existing homebuyers trying to sell,
as banks "dump" properties at a bargain via distressed sales.

In March, layoffs accelerated and looked particularly bad in the manufacturing sector.

Also, there is much uncertainty in the Auto Industry sector, as a whole.

According to Freddie Mac, 30-year fixed rate mortgages averaged around 4.80% over the past week...yet, where are the buyers???

Great 30 year rates don't mean anything to the unemployed.

Those rates also don't mean much to sellers who are losing value in their home everyday
and are in competition with banks who can "write down" the loses against profits and cover bad deals with tax benefits.

However, there are good to great deals on homes if you are in a position to buy, have cash
for a down payment and have excellent credit.

If you need help increasing your credit score you can have your current credit cleaned and
save thousands of dollars, not only by getting the best mortgage rates but also lower
insurance payments, as insurance companies use credit info to offer rates.
tax benefits.

If you have not been able to sell and are now behind in payments, apply for Mortgage Relief.

This is NOT the Obama Government program and this is NOT Loan Modification.

If you qualify for Mortgage Relief, you may be entitled to have your old loan "thrown out"
and replaced by a NEW LOAN at today's current market value of the home.

With broad declines in housing prices, some homeowners have reduced their old mortgage
debt by 50%! Act Now, submit your information for a Free Mortgage Analysis.