Comments on: Florida FHA Mortgage Refinance, ((NO MIN FICO))

By: mr_cj_jr

mr_cj_jr — Sun, 07 Jun 2009 13:35:16 +0000

It's a bad thing because it will help ease the strain on the housing market, it'll help stabilize prices, the banks will be able to function, it'll help ease credit,people will be able to stay in their homes, your local tax base will stabilize and, most of all, Obama's attempts to lift the US out of the Bush Depression may actually begin to turn things around and that will be bad for the Republican Party.

-R.Limbaugh

By: Tacity

Tacity — Sat, 06 Jun 2009 04:59:01 +0000

~~Go to the governments website which explains the program for your situation, tells you if you qualify and can help direct you to a lender.
http://www.makehomeaffordable.gov ~~

By: Michael W

Michael W — Fri, 05 Jun 2009 18:53:33 +0000

You are one of the lucky ones! I know people who have lost more than 50% of their equity in less than two years.

The President's program will help you if you can prove that you are unable to pay your present mortgage payments, but you ARE able to pay a mortgage at 31% of your monthly gross income. You will need to apply for a loan modification. Your interest may be lowered, the term may be extended or the principal reduced (unlikely).

Every expense you have must be documented and you will have to provide all current income information to your lender. The way your package is structured will determine what you may be entitled to. I strongly suggest hiring a loan modification specialist (sometimes called loss mitigation specialist) to do the negotiating on your behalf. The lender will do the least that they can to help you, whereas a specialist will know what the most is a bank will do and might be able to negotiate a much better workout than you would be able to do on your own. Their services are not free, but you will not have to pay until they have actually accomplished a workout for you. It is definitely worth the money. Just make sure you are dealing with a legitimate company.

By: Dolan A

Dolan A — Fri, 05 Jun 2009 15:47:33 +0000

By: Giot Nuoc

Giot Nuoc — Thu, 04 Jun 2009 16:00:13 +0000

It doesnt matter. All that matters is that you are "upside down"–meaning you owe more than the house is now worth…

By: Woo Woo

Woo Woo — Thu, 04 Jun 2009 07:00:07 +0000

I have, my daughter's in the process of buying a house with their help.
There are no cons that I know of – except you must reside in the home so be sure you like it and the area.

By: USA U

USA U — Thu, 04 Jun 2009 06:16:42 +0000

By: dinofernandez66

dinofernandez66 — Thu, 04 Jun 2009 06:02:46 +0000

find the best rate you can find and then add 1% (1 point is what is the standard to add when dealing with an investment home)

A mortgage broker is supposed to find you the best rate from all the companies she works with. If you don't have a good one shop around.

Here is a website to find the average and best rates:
http://www.bankrate.com/brm/default.asp