Stop Foreclosure! - California FHA Home Mortgage
Loan Refinance
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STOP FORECLOSURE!
If your ARM loan has reset to a higher rate, we can
help.
The FHA plans on helping 250,000 homeowners at risk,
are you one of them?
Refinance with FHA even with late payments
Call 888.694.0455 ext 85
or apply online
to save your home |
Stop Foreclosure with a California FHA mortgage loan refinance
The FHA Secure Progam:
- Don't give up, refinancing is available during foreclosure
- The FHA wants to stop your foreclosure
- New guidelines allow late payments
- No limit on delinquency after adjustment
- 250,000 homeowners may benefit
- Intended for people with ARM loans
- California maximum FHA loan amount is $362,760
Call 888.694.0455 ext 85
or apply online to get
started.
"We are helping homeowners stop foreclosure and we can
help you too."
Are you tired of hearing all the negative press about the
real estate market in your area? Bad mortgages and foreclosures
take center stage in the local news as well as what kind of regulation
the government might try to put on lending institutions. Well, it
is time to show that there are still a lot of positive things
happening even as the market gets worse.
The major contributing factor to the current mortgage mess is
this. A few years ago, mortgage lenders could sell 2yr Fixed 28yr
ARMs (adjustable rate mortgages) on the 2ndary market and make a
killing. This type of ARM was traditionally sold to real estate
investors and sub prime borrowers.
The idea behind the 2 year fixed ARM was to offer it instead of
the more expensive 30 year fixed rate mortgage to a low qualifying
borrower in order to get a lower rate. This would give the borrower
some time to get their credit and finances back on track in order
to qualify for better financing programs in the future.
This became a problem when the loan officers would just close
the deal and move on without helping the borrower move into better
permanent financing. Borrowers would often miss the opportunity
to improve their credit standing during the first two years. When
the note adjusts, the borrowers 7% sub-prime rate and low payment
could jump to 15% and the borrower gets stuck and has to make a
tough choice, pay the necessities or pay the mortgage.
We do not believe that the lenders built the 2/28 ARM as a full
solution for borrowers. It is really just acting as a Band-Aid loan
program for people who were in the sub prime market or for real
estate investors who could get a lower rate knowing they would sell
the property or refinance it for cash out in a year or so. One way
or another, the idea was to get rid of the 2 2/28 ARM for more stable
financing.
There is hope and a plan for everyone who has a high interest
rate or has a ARM loan that is adjusting. We get phone
calls from people everyday. "Help my mortgage payment has doubled
and I am 3 months behind." We are helping
people keep their homes and we can help you too.
The FHA recently introduced FHA Secured financing.
This new program was designed specifically to help people who are
late on mortgage payments. Yes, even if they are late on their mortgage,
they will still be able to get financing! It gets even better, if
they are running late on their mortgage and are upside down (meaning
the mortgage balance is higher than the home value), this product
can allow the current lender to FORGIVE A PORTION OF THE PRINCIPAL
LOAN BALANCE OWED!!
A few of my borrowers who got low rate ARMS are now into 30 YR fixed
mortgage since they made their payments on time.
Call 888.694.0455 ext 85
or apply online to get
started.
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