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Dołączył: 08 Sty 2011
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 Wysłany: Sob 3:35, 15 Sty 2011 Temat postu: Supra Strapped NS Home Refinance Stimul cheap supr |
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You may have previously been turned down for a refinance on your mortgage because you did not have the customary 20% equity in your home. Have you been chewing off a high monthly payment on property that is quickly losing value, even possibly worth less than you owe?
President Obama's home refinance stimulus package may make it possible for you to get a more affordable mortgage payment and a fixed rate mortgage. The Home Refinance Stimulus Package provides help to homeowners struggling to make high mortgage payments by providing incentives to banks to refinance loans and do loan modifications.
$275 billion dollars has been allocated to boost the sagging housing market and prevent the stemming tide of foreclosures. While loan modifications are set up for homeowners facing foreclosure [link widoczny dla zalogowanych], if you are not yet behind on your mortgage, you may qualify for refinance under this federal stimulus plan.
Qualification guidelines to refinance under the home refinance stimulus package:
? You must live in your home; it must be your primary residence.
? You cannot have been any later than thirty days with a payment over the last year.
? You must not owe more than 105% of the total current market value of your house.
? The loan must be under Fannie Mae or Freddie Mac.
? You have to be able to document that you can make the new payment.
? Only first mortgages are included in this refinancing plan; the lender may agree to work with you on the second mortgage, if you have one.
This home stimulus program will offer 15 and 30 year terms at current interest rates and closing costs. This program offers a way for homeowners whose property value has decreased and they have been unable to obtain a more affordable fixed-rate loan.
If you have been paying only the interest or some other adjustable rate payment [link widoczny dla zalogowanych], your payment may actually increase when you obtain a fixed rate mortgage, but in the end, it is the wisest choice while the opportunity is available.
These refinance packages are government subsidized, and will only be available or a limited window of time.
So, if you have been unable to refinance your loan because the dropping housing market has actually lowered your equity in your home [link widoczny dla zalogowanych], you may be able to refinance under the Home Refinance Stimulus Package.
To save your home,
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