Obama Mortgage Refinance – How to Qualify For President Obama’s Home Loan Refinancing Program

Must Read

Debt Consolidation Loans – How to Benefit From the Loans

The consolidation loans are usually secured against your stated property hence providing lenders with greater lending capacity.Since debt consolidation...

Debt Consolidation Loans

Numerous people can locate themselves in a position where they are struggling to keep up with their finances, and...

Review of Mark Thompson Article Marketing Guide

The Mark Thompson article marketing guide, 'Article Dominance', is actually a stand out in the swarms of other article...

Why You Need a Skilled Car Accident Lawyer

Seasoned Los Angeles County car accident lawyers know that car accidents are a prime cause of injuries and deaths...

Student Debt Consolidation – Repayments Made Easier

It is a blessing for a student if he can make an easy and regular payments of his student...

Are Bad Credit Debt Consolidation Loans a Realistic Option For Getting Out of Debt?

Are you currently experiencing a severe debt problem that you wish would go away? Take heart. Your wish will...
Admin
test

President Barack Obama took over US economy when it was going through a major slump. In his 2009 Stimulus Package he made an attempt to make the lives of the US people easier and saved their dream homes from being foreclosed. He has announced several grants, tax credits and loans for the needy citizens in United States. He has made an attempt to save your home through refinance and loan modification.Do you Qualify for President Obama’s Home Loan Refinancing Program? Let us have a look:· In case your loan or the mortgage is insured or owned by Fannie Mae & Freddie Mac you qualify for the refinance deal.· Your loan amount must be more than 105% of the current value of the home in order to apply for the mortgage refinance.· Now your rate of interest can be lessened. It would be 5.16% in place of 6.5%.· The mortgage monthly payments would now be limited to 31% of the gross monthly income of the borrower. Also the sum total of all credit payments taken together must not be higher than 55% of the pre tax income of the borrower.· When you apply for the loan modification & refinance even if you do not own 20% equity of the home. This rule is now written off.· The government has announced $ 1000 cash benefit for the banks & the mortgage companies per loan modification & refinance. So the banks are all willing to help you in your crisis.· You can also take professional help from the HUD appointed counselors. They act as your representative in the bank dealings and present your case in the best possible amidst the bankers. Above they do not charge for their work as they are paid by the Federal Government. You must seek for their guidance once.

Latest News

Digital Marketing for Beginners

Digital marketing for starter, Let to basic learning about connecting with your audience in the right place at the...

More Articles Like This