Wednesday, July 13, 2011

How does the streamlined loan modification program for Fannie Mae and Freddie Mac work?

How does the streamlined loan modification program for Fannie Mae and Freddie Mac work?  This new mortgage bailout program will be set to begin on December 15, 2008.  It will apply only to mortgages that are owned or guaranteed by Freddie Mac or Fannie Mae.  A borrower who is 90 days delinquent will be eligible for a new mortgage with a monthly payment that does not exceed 38% of their gross monthly income.  Proof of a hardship will need to be justified, jobless or illness etc.  If you are not experiencing a loan default you will not be eligible for this mortgage bailout program.  You do not need to be in a bankruptcy proceeding.  This program is only available to primary residences.  Second homes and investment property will not qualify for this program.

If you are interested in a loan modification please call toll free 1-800-385-0502 for a new hassle loan modification review.
Posted by at
Labels:
Location: Cedar City, UT, USA

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Anew Home Loan Services

We are a complete one stop help for your home loan needs.

The advantages of using Anew Home Loan Services are clear.

  • Contact us to take advantage of our services. Our professionals will coordinate with your lenders to stop the collection calls and start the approval process.
  • If foreclosure of your home seems inevitable, we will work our best to negotiate with your lenders to stop your home from being foreclosed as we work with you on your modification.
  • Our Loan Officers and Loan Specialist are a team that can help you qualify by helping you document and substantiate any hardships which have impacted your ability to continue to be able to afford your current mortgage. We will work with your lender to get your home mortgage loan modification accomplished in order to lower the monthly payment and make your mortgage payment affordable within your current income.
  • The “housing crisis” has depreciated the value of many homes. Home owners are finding that the existing mortgage loan exceeds the present value of the home. We can work with you to get the loan modification to adjust your mortgage to the current reduced value of the property.
  • Selling a house is often a better alternative than foreclosure. We have a network of affiliates to help you sell of the house before foreclosure becomes applicable. If needed, this step can avert foreclosure.

Take Advantage of the Best Loan Modification Services >> Get Started Now!