If you are looking into refinancing your home loan, there are a number of different fees and costs that can result in you paying too much. To get the lowest interest rate you can, and lower monthly home loan payments, you must avoid unnecessary fees and costs. Here are some tips which will help you avoid paying too much when refinancing your home loan.

Retail Home Mortgage Loan Interest Rate Quotes
Were you aware that mortgage lenders make a commission for arranging the loan refinancing or modification, like any other retail product? Refinancing with the “Par” rate, which is the whole sale interest rate, is a much better way to go.

So, What is a “Par” Mortgage Interest Rate?
Basically, a “Par” rate is one in which there are no costs for any kind of points, or additional markups from the mortgage lender. This does not mean that the mortgage lender will not receive pay for doing their jobs, it is just better to pay any fees upfront as opposed to adding them into the home loan and paying interest on them year after year. Their two different ways in which a mortgage lender will get paid. The loan origination fee and a percentage “bonus” for getting you, the homeowner, into the highest rate they can, even if you actually qualify for a lower interest rate.

Getting a “Par” Mortgage Interest Rate IS Possible
It is not extremely difficult to get a “Par” mortgage interest rate when you are looking into refinancing your home loan. Finding the right lender is the key to avoiding paying extra closing costs and other fees that are not needed. So, where can you find the lender who offers “Par” wholesale Mortgage interest rates? It will not be the smooth talking, big office, large sales staff, mortgage lenders or banks. This is because of their expensive overhead costs, and their extreme profit margins.

Beware of Mortgage Rate Markups
A mortgage rate markup is the fee from the lender when your interest rate is overcharged successfully. Also called a “Yield Spread Premium” this is a bonus the lender will pay the broker. Typically a bonus of .25% of the mortgage amount is given for every 1% the mortgage lender is able to get you to agree to in higher interest rates. This is a costly move the broker makes, on your behalf. This money could be better off in your pockets, and can easily equal thousands of dollars per year.

A good choice for homeowners looking to get a mortgage refinancing or modification and avoid extra fees and costs, is choose a small, or self employed mortgage broker. These lenders do not have the expensive costs of larger firms, and are much more flexible on their costs. Once you fully understand the terms of your home loan, a mortgage lender or broker like this is not all that hard to find.

-M Petrone
www.RefinancingCondo.com

Homeowners who are having a hard time paying their monthly mortgage payment, are facing “Financial Hardships”, are facing foreclosure, or want to save money every month should take advantage of President Obamas “Making Home Affordable” plan. This recently enacted plan allows homeowners to get 2% fixed rate home mortgages through refinancing or loan modification. Here is how you can take advantage:

To take advantage of President Obamas plan for yourself, you must meet these guidelines and eligibility requirements:

-Homeowners who are facing financial hardships, and can prove them with documents, can apply for, and most likely be approved for a home loan modification. This will be into a much more affordable monthly payment, depending on your financial hardships and how much those cost you.

-The home which is to be refinanced using this “Making Home Affordable” plan needs to be lived in as a primary residence by the actual homeowner. Homes used as investment, or second properties are not covered under this Government backed housing bailout program.

-With such a bad housing market and economy, homeowners can now refinance or get a home loan modification even if they owe as much as 105% of their homes actual market value. This will assist a lot of homeowners who have been making their payments, yet have seen their home values drop as a result of the tough economy.

-Home loans backed by either Freddie Mac or Fannie Mae are automatically eligible to be modified into a monthly payment which will not exceed 31% of the homeowners gross monthly income. This will help a lot of people who currently spend 50% or more of their income towards their mortgage payments.

This is a great way for millions of homeowners across the country to get back on track with their finances, save money every month, or most importantly save their home from foreclosure. Refinancing and loan modification are now easier and more beneficial for a homeowner than they have ever been before. If you need to save money to save your home, or pay off other mounting debts, use this plan now and start seeing the huge savings every month. You at least should look into the potential savings that you may be able to get by talking to a mortgage lender or bank. Do yourself a favor and act now before it is too late and you lose your home, or this program is gone.

-M Petrone
www.RefinancingCondo.com

Homeowners who want a mortgage modification or refinance from Wells Fargo are in luck thanks to President Obamas stimulus plan. This Government program offers millions of homeowners a chance to refinance or modify their loan into a new 4.5% fixed rate mortgage. Here are some tips to getting a home loan modification or refinance from Wells Fargo.

Even if you have been turned down in the past for a refinance from Wells Fargo, or are still waiting for a response from your application, you can still ask to apply for Obamas “Making Home Affordable” plan. The approval guidelines are strict, but if you meet them you will no doubt be approved for a refinance and save a lot of money every month just on interest rates. Homeowners who want the best chance possible to modify or refinance their home loan should have their paperwork in order and know these few things:

-Home loans can be extended into 30 or even 40 year lengths to help homeowners get an affordable monthly payment and not have to face these same home financial issues again in the future.

-Home interest rates can be lowered to as low as 2% in order for mortgage lenders and banks to meet the refinancing requirements set by the Government.

-Some portion of the principal balance remaining on your mortgage may be deferred.

These options, at least some of them if not all, will be available to a homeowner who is qualified in order to obtain a new monthly mortgage payment that does not exceed 31% of the homeowners gross monthly income. Modification or Refinancing of a home loan through Wells Fargo will offer a homeowner the same exact options as any other mortgage lender or bank. Their will be no need to negotiate, as the lenders and banks already have guidelines they must follow and either you will qualify for it or you will not. Learning and practicing a few simple tips about handling and filling out forms the right way you will be able to work directly with banks as opposed to mortgage lenders, and directly obtain a home loan which meets your financial needs.

There is no reason to pay any fees or other costs when taking advantage of this plan, and homeowners should stay away from a lender or bank attempting to charge you to use this “Making Home Affordable” plan. The lenders and banks will be paid, through cash incentives from the Government for every homeowner who is at risk they approve. After all, odds are you are in a financial hardship right now and how would you be able to pay thousands of dollars in closing costs and fees? If you could you probably would not be in the financial situation you are in now. The Government will handle all and any fees related to refinancing or mortgage modification using this plan.

Refinancing your home loan now can be a great way to free up extra cash every month. The savings being reported from homeowner who have used this plan are hundreds of dollars every month. This money can be used for anything the homeowner wishes. At least take a little time to see if the savings you are able to get through refinancing or modification are worth it for you. Odds are, especially now with Obamas “Making Home Affordable” plan in full swing.

-M Petrone
www.RefinancingCondo.com

Homeowners who want a mortgage modification or refinance from Wachovia are in luck thanks to President Obamas stimulus plan. This Government program offers millions of homeowners a chance to refinance or modify their loan into a new 4.5% fixed rate mortgage. Here are some tips to getting a home loan modification or refinance from Wachovia.

Even if you have been turned down in the past for a refinance from Wachovia, or are still waiting for a response from your application, you can still ask to apply for Obamas “Making Home Affordable” plan. The approval guidelines are strict, but if you meet them you will no doubt be approved for a refinance and save a lot of money every month just on interest rates. Homeowners who want the best chance possible to modify or refinance their home loan should have their paperwork in order and know these few things:

-Home loans can be extended into 30 or even 40 year lengths to help homeowners get an affordable monthly payment and not have to face these same home financial issues again in the future.

-Home interest rates can be lowered to as low as 2% in order for mortgage lenders and banks to meet the refinancing requirements set by the Government.

-Some portion of the principal balance remaining on your mortgage may be deferred.

These options, at least some of them if not all, will be available to a homeowner who is qualified in order to obtain a new monthly mortgage payment that does not exceed 31% of the homeowners gross monthly income. Modification or Refinancing of a home loan through Wachovia will offer a homeowner the same exact options as any other mortgage lender or bank. Their will be no need to negotiate, as the lenders and banks already have guidelines they must follow and either you will qualify for it or you will not. Learning and practicing a few simple tips about handling and filling out forms the right way you will be able to work directly with banks as opposed to mortgage lenders, and directly obtain a home loan which meets your financial needs.

There is no reason to pay any fees or other costs when taking advantage of this plan, and homeowners should stay away from a lender or bank attempting to charge you to use this “Making Home Affordable” plan. The lenders and banks will be paid, through cash incentives from the Government for every homeowner who is at risk they approve. After all, odds are you are in a financial hardship right now and how would you be able to pay thousands of dollars in closing costs and fees? If you could you probably would not be in the financial situation you are in now. The Government will handle all and any fees related to refinancing or mortgage modification using this plan.

Refinancing your home loan now can be a great way to free up extra cash every month. The savings being reported from homeowner who have used this plan are hundreds of dollars every month. This money can be used for anything the homeowner wishes. At least take a little time to see if the savings you are able to get through refinancing or modification are worth it for you. Odds are, especially now with Obamas “Making Home Affordable” plan in full swing.

-M Petrone
www.RefinancingCondo.com

Homeowners who want a mortgage modification or refinance from Countrywide are in luck thanks to President Obamas stimulus plan. This Government program offers millions of homeowners a chance to refinance or modify their loan into a new 4.5% fixed rate mortgage. Here are some tips to getting a home loan modification or refinance from Countrywide.

Even if you have been turned down in the past for a refinance from Countrywide, or are still waiting for a response from your application, you can still ask to apply for Obamas “Making Home Affordable” plan. The approval guidelines are strict, but if you meet them you will no doubt be approved for a refinance and save a lot of money every month just on interest rates. Homeowners who want the best chance possible to modify or refinance their home loan should have their paperwork in order and know these few things:

-Home loans can be extended into 30 or even 40 year lengths to help homeowners get an affordable monthly payment and not have to face these same home financial issues again in the future.

-Home interest rates can be lowered to as low as 2% in order for mortgage lenders and banks to meet the refinancing requirements set by the Government.

-Some portion of the principal balance remaining on your mortgage may be deferred.

These options, at least some of them if not all, will be available to a homeowner who is qualified in order to obtain a new monthly mortgage payment that does not exceed 31% of the homeowners gross monthly income. Modification or Refinancing of a home loan through Countrywide will offer a homeowner the same exact options as any other mortgage lender or bank. Their will be no need to negotiate, as the lenders and banks already have guidelines they must follow and either you will qualify for it or you will not. Learning and practicing a few simple tips about handling and filling out forms the right way you will be able to work directly with banks as opposed to mortgage lenders, and directly obtain a home loan which meets your financial needs.

There is no reason to pay any fees or other costs when taking advantage of this plan, and homeowners should stay away from a lender or bank attempting to charge you to use this “Making Home Affordable” plan. The lenders and banks will be paid, through cash incentives from the Government for every homeowner who is at risk they approve. After all, odds are you are in a financial hardship right now and how would you be able to pay thousands of dollars in closing costs and fees? If you could you probably would not be in the financial situation you are in now. The Government will handle all and any fees related to refinancing or mortgage modification using this plan.

Refinancing your home loan now can be a great way to free up extra cash every month. The savings being reported from homeowner who have used this plan are hundreds of dollars every month. This money can be used for anything the homeowner wishes. At least take a little time to see if the savings you are able to get through refinancing or modification are worth it for you. Odds are, especially now with Obamas “Making Home Affordable” plan in full swing.

The “Making Home Affordable Plan” from President Obama allows homeowners facing foreclosure, or financial hardships, a opportunity to get a fixed rate 4% home loan. This plan will help over 9 millions homeowners with over $75 billion in Government funding. Here is how you can get a piece of the bailout for yourself, and get a money saving home loan modification or refinance:

Here are some of the very basic and easy to meet eligibility requirements for a homeowner who wants to use Obamas “Making Home Affordable” plan for themselves:

-Homeowners who are in a “Financial Hardship”, and have documents such as bank statements, bills, lay off notices, or other relevant documentation for which they claim a financial hardship from, can now be approved for a home loan modification or refinancing, quickly and easily, through the use of a mortgage lender or bank participating on Obamas housing bailout plan. Include a brief handwritten letter with your signature, explaining your financial problems, and that you will lose your home if action is not taken to reduce the monthly loan payments. Include the relevant documents along with this note and your application for refinance or loan modification.

-Homeowners all over the country have been unfortunate enough to see the value of their home drop as the economy got worse, and the housing market struggled. Now, if a homeowner has seen their home value drop by 15% or more, that homeowner can get a loan modification or refinance through the use of this plan from Obama. A homeowner can even refinance if they owe up to 5% more on their mortgage than their homes actual market value. This helps a lot of homeowners who feel helpless paying a huge monthly payment on a property which is actually losing value.

Homeowners who are struggling financially, have a bad mortgage, have seen their home values drop, or are looking to save money every month, should look into the advantages and potential savings they can easily get through Obamas plan. Home loan refinancing and modification, have never been easier to get, nor have they ever been more in the borrowers favor. Now, especially if you are going into foreclosure, or have missed some payment, take action and do something about your financial, and homes future. Use this plan and start seeing the savings with next, and every months, home loan payments.

-M Petrone
www.RefinancingCondo.com

Homeowners are very interested to know where mortgage interest rates will be going. Refinancing or getting a home loan modification when interest rates are their lowest, saves a lot of money from unnecessary interest payments. Here are my home mortgage rate predictions for mortgage rates in 2009:

Right now, mortgage rates are around 5.19% for a 30 year fixed rate home loan. Remember though that only homeowners who have a good FICO score, and either 20% equity in their home or 20% cash down can take advantage of the lowest rates. However, homeowners with less than perfect credit should still jump at the chance to refinance or modify their home loans. Even though rates are not their lowest, they are still plenty low to save millions of homeowners hundreds of dollars per month. However, if you can wait at all to go through with your refinancing or loan modification, I would, and here is why.

Recently, home interest rates have been increased across the board by about .5%. While this is not a extreme change, it did allow the mortgage lenders and banks a chance to catch up on their paperwork from homeowner applications which have been flooding in since Obamas “Making Home Affordable Plan” announcement. Now, with the increased rate, the lenders have pretty much stopped the applications from homeowners who just want to save money, and are focusing on homeowners who need to save their home. Once these applications are done, the mortgage lenders and banks will be hungry and ready for a new round of home loan modifications and refinancing. So, when this happens, around mid October I predict, home interest rates will drop by .5% or so to an average of 4.69% for a 30 year fixed rate home loan.

So, basically, a homeowner who is looking for a home loan refinancing or modification should wait, if they can, until October and get what I predict will be the lowest interest rate of the year. However, if you are facing foreclosure, or serious financial hardships, you should take action now and do something about it. The situation will only get worse, and more costly to get rid of. Do something now and ensure your financial future.

-M Petrone
www.RefinancingCondo.com

In today’s world where the economy has taken a few spills, many homeowners have had to apply for home loan modification or refinance. The majority of these people do so only to be turn down in the end. In the recent months President Obama has tried to help homeowners in this time of uncertainty. What the President has done is come up with a plan, “Making Homes Affordable.” What this does is allow the millions of homeowners who are having trouble with their mortgages to get a fixed rate on their home loan, which is 2%. Having this fixed rate is helpful to millions who may have an adjustable rate for their current loan. This can save lots of people money and this is how:

What the “Making Homes Affordable” plan is suppose to do is give the banks and lenders a cash incentive to decrease their risks and in turn provide more loan modifications and refinancing of loans for all those struggling to make ends meet. What this has done is make it easier to be approved for a loan or loan modification, it is the best time right now for the borrower. If you have been affected by the struggling economy you are eligible for this new plan.

This plan was created by the President Obama because of the declining housing market. His plan was to stimulate the current housing market and at the same time keep current homeowners from losing their homes. This plan is meant to help those facing foreclosure, people looking for to refinance or modify their loans and also new potential homeowners looking to purchase a house. President Obamas plan “Making Homes Affordable” is a $75 billion government backed bailout program. With this plan all those who own homes regardless of their current financial situation have more choices when looking to find a more affordable and reasonable payments for their homes.

Today is possibly the best time to modify or refinance your home mortgage loan. With President Obamas “Making Homes Affordable” plan there may be potential to save hundreds on your mortgage payments every month. Use the plan as best you can to save your money and save your home.

-M Petrone
www.RefinancingCondo.com

Homeowners looking to save money, or their home from foreclosure, and have a mortgage from Fannie Mae or Freddie Mac, should thank President Obama. Now, customers of Wells Fargo can get their home loan modified into a fixed rate 2% mortgage. All Wells Fargo customers can use this plan to their advantage. Here is how it works:

The “Making Home Affordable Plan” is Obamas housing bailout plan which will give cash incentives to mortgage lenders and banks who assist financially struggling homeowners by allowing them the options of getting a 2% fixed home loan. This will save a lot of homeowners who are in a bad mortgage or facing other financial hardships, save a lot of money on their Wells Fargo home loan. Now, even if you have been declined before, getting a refinance or loan modification is easier, and more beneficial for the homeowner, than ever.

Wells Fargo is a large, extremely reputable and friendly company which is leading the pack in using this Obama plan to help homeowners. Everyone loses when a home is foreclosed on, and Wells Fargo is aware of that and will work with homeowners to save their home. They have the power, experience, and leverage to help almost any homeowner, in any financial situation, no matter the conditions. Using such a big lender will give you plenty of loan choices and financing options.

The odds of you being approved for this plan will also be increased by including a letter of financial hardship. This letter should be written by hand and contain the reasons, like job loss, loss of income, high credit debts, hospital bills, and all supporting documents like pay stubs, tax returns, bills, and all related papers. A lot of homeowners do not realize the amazing savings that can be had through simply calling your Wells Fargo lender and asking. All they need to do is ask about refinancing or mortgage modification, and the options will become more apparent to them. While this plan from Obama will not help every single homeowner, it will help an estimated 9 million homeowners save money, or maybe even save their home from foreclosure.

-M Petrone
www.RefinancingCondo.com

President Obama has announced his “Making Home Affordable Plan” which is a housing bailout plan for 2009 that lets homeowners get themselves into a fixed rate 2% home loan through refinancing or mortgage modification. Millions of homeowners can easily save hundreds every month by using this plan to their advantage. Here is how is all works:

Basic Eligibility Requirements which must be met by Homeowners:

-Homeowners who have been unfortunate enough to see the value of their home decrease by 15% or more can now refinance or get loan modification through this plan from Obama. This is very helpful to a lot of homeowners, especially those who have purchased their home within the past few years, who have seen their property values drop as a result of the bad economy and the worse housing market.

-With such a bad economy, and market, a homeowner is now allowed to get a loan refinance or modification even if they owe up to 5% more on the mortgage than their homes market value. This helps homeowners who have seen their home values go down, even though they have been making payments on time, and sometimes for years.

-Homeowners who are in a “Financial Hardship” and have the documents to prove that fact, including layoff notices, bills, bank statements, bad mortgages, or a whole list of other circumstances, will qualify for a Government backed 2% fixed rate home loan through Obamas “Making Home Affordable” plan. If this is the route you are expecting to take, be sure to include a handwritten letter stating these facts and hand sign it. This should help increase your odds of being refinanced as the lender sees you truly have no options. To prevent you from losing your home to foreclosure.

-Homeowners who have a home loan which is backed by either of the two financial giants, Fannie Mae or Freddie Mac, can not get a home loan modification or refinance into a 2% fixed rate mortgage, through use of President Obamas housing bailout program.

This $75+ billion plan from Obama will help an estimated 9 million homeowners save money every month or, much more importantly, save their home from foreclosure. This means that homeowners have never had a better chance to save a lot of money through reduced interest rates, as those in the guidelines of Obamas “Making Home Affordable Plan”. The savings have been reported to be hundreds per month for the average homeowner who has used this plan. Do yourself a favor and see the potential savings you can be getting and call your mortgage lender or bank.

-M Petrone
www.RefinancingCondo.com

Countrywide is taking part in President Obamas “Making Home Affordable” plan. This means that if you are a homeowner and looking to get a home loan refinance or modification, now is the best time ever. This plans guidelines, which Countrywide follows, allows a home owner to get a fixed rate 2% home loan. This will enable millions of homeowners to save a lot of money every month, or even save their home from foreclosure.. Here is is some great information to get you started.

Homeowners who are facing “Financial Hardships” including, bad mortgages, job loss, loss of income, hospital bills, high credit card debt, or a whole list of things can use this plan and get themselves into a new home loan with a 2% fixed interest rate. Luckily for customers of Countrywide, they have the specialists and resources necessary to allow homeowners full use of this plan to help them save money or their home. This, combined with Obamas plan, is just the thing many Countrywide customers need to save their financial futures from disaster.

This plan even allows homes which are now worth less in the market than the mortgage on them is for. This will enable homeowners who have seen the value of their home drop as a result of the housing crisis. So even if your mortgage is worth up to 5% more than your home, you can still get approved for a loan refinance or modification. Now, Countrywide customers can do themselves a favor and get into a much more affordable loan, and use the savings to pay off other debts.

Homeowners who have thinking about getting a mortgage modification or refinance should jump at this chance to save a large amount of money every month. Call your Countrywide loan officer and see what your options are, and the potential savings you will get. Take action of your situation and do something about it before it gets worse.

With the economy and housing market in bad shape, homeowners are finding themselves in tough financial spots, and paying the monthly mortgage note, is getting much harder to do. However, President Obama is aware of the problems millions of homeowners are facing, and introduced the “Making Home Affordable” plan which allows homeowners to get a fixed rate 2% home loan through a refinance or mortgage modification. Here is how this plan works, and you can take advantage:

-Homeowners facing a long list of “Financial Hardships” can now use this plan from Obama and his administration to get themselves into a fixed rate 2% home mortgage through a simple loan modification. This “Financial Hardship” can be a lot of things, loss of job, loss of income, hospital bills, bad mortgages, high credit card debt, and a whole list of others. Be sure to include a handwritten letter along with bank statements, bills, or any other paperwork which backs up your claims of financial hardship. This greatly increases your chances of being approved for a refinancing or loan modification.

-Homes everywhere have lost their value due to the massive amount of foreclosures, the bad economy, and the worse housing market. Now though, homes which have dropped in value by 15% or more are eligible to get a 2% fixed rate home loan modification or refinance through Obamas plan. This will help a lot of homeowners, especially those who bought a home in the past few years, who have a mortgage worth more than the homes market value.

-Mortgages which are backed by either Freddie Mac or Fannie Mae can now be modified into the Government backed 2% home loan. This is automatic eligibility provided your home loan is financed or insured by either one of these two lending giants.

Homeowners are flocking to take advantage of Obamas $75 billion “Making Home Affordable” plan and getting themselves into new, more affordable, fixed rate 2% home loans through refinancing or mortgage modification. You should at least do yourself a favor and take a little time and see how much you could save by using this plan to your advantage. You may be able to save hundreds a month, or much more importantly your home from being foreclosed on.

Homeowners who have a mortgage which is backed or insured through Fannie Mae or Freddie Mac can take advantage of President Obamas “Making Home Affordable” plan and gt a 2% fixed rate home loan. Here is how you can use this plan, and start saving now:

Here are some eligibility requirements that a homeowner must meet in order to use this plan and get a 2% fixed interest rate home loan from Obamas housing stimulus plan:

-Homeowners who have declared bankruptcy will not be eligible to use this plan from President Obama and should look for other alternatives.

-Only a home where the homeowner lives in as a primary residence will be allowed to get a home loan modification or refinance through Obamas plan. Second and investment homes will not be covered.

-With the bad housing market and economy, a low of homeowners owe more on their mortgage than the home is actually worth on the market. Now, using this plan from Obama, a homeowner can refinance their home loan, even if they owe up to 5% more than the homes worth, and still get the 2% interest rate provided through Obamas plan.

-Homeowners who are facing financial hardships should include a letter stating them along with all relevant financial paperwork.

-Homeowners with a home loan that is backed or insured by Fannie Mae or Freddie Mac are automatically eligible to get a 2% home mortgage refinancing or modification through Obamas plan.

Homeowners looking for a loan modification or refinance are in luck. This plan enables millions of people to save money, or even their home from being foreclosed on. All a homeowner needs to do is take control of their financial situation, no matter how bad it seems. It can, and will, only get worse if left unattended to.

-M Petrone
www.RefinancingCondo.com

With the economy and housing market in bad shape, homeowners are finding themselves in tough financial spots, and paying the monthly mortgage note, is getting much harder to do. However, President Obama is aware of the problems millions of homeowners are facing, and introduced the “Making Home Affordable” plan which allows homeowners to get a fixed rate 2% home loan through a refinance or mortgage modification. Here is how this plan works, and you can take advantage:

-Homeowners facing a long list of “Financial Hardships” can now use this plan from Obama and his administration to get themselves into a fixed rate 2% home mortgage through a simple loan modification. This “Financial Hardship” can be a lot of things, loss of job, loss of income, hospital bills, bad mortgages, high credit card debt, and a whole list of others. Be sure to include a handwritten letter along with bank statements, bills, or any other paperwork which backs up your claims of financial hardship. This greatly increases your chances of being approved for a refinancing or loan modification.

-Homes everywhere have lost their value due to the massive amount of foreclosures, the bad economy, and the worse housing market. Now though, homes which have dropped in value by 15% or more are eligible to get a 2% fixed rate home loan modification or refinance through Obamas plan. This will help a lot of homeowners, especially those who bought a home in the past few years, who have a mortgage worth more than the homes market value.

-Mortgages which are backed by either Freddie Mac or Fannie Mae can now be modified into the Government backed 2% home loan. This is automatic eligibility provided your home loan is financed or insured by either one of these two lending giants.

Homeowners are flocking to take advantage of Obamas $75 billion “Making Home Affordable” plan and getting themselves into new, more affordable, fixed rate 2% home loans through refinancing or mortgage modification. You should at least do yourself a favor and take a little time and see how much you could save by using this plan to your advantage. You may be able to save hundreds a month, or much more importantly your home from being foreclosed on.

-M Petrone
www.RefinancingCondo.com

Ditech is taking part in President Obamas “Making Home Affordable” plan. This means that if you are a homeowner and looking to get a home loan refinance or modification, now is the best time ever. This plans guidelines, which Ditech follows, allows a home owner to get a fixed rate 2% home loan. This will enable millions of homeowners to save a lot of money every month, or even save their home from foreclosure.. Here is is some great information to get you started.

Homeowners who are facing “Financial Hardships” including, bad mortgages, job loss, loss of income, hospital bills, high credit card debt, or a whole list of things can use this plan and get themselves into a new home loan with a 2% fixed interest rate. Luckily for customers of Ditech, they have the specialists and resources necessary to allow homeowners full use of this plan to help them save money or their home. This, combined with Obamas plan, is just the thing many Ditech customers need to save their financial futures from disaster.

This plan even allows homes which are now worth less in the market than the mortgage on them is for. This will enable homeowners who have seen the value of their home drop as a result of the housing crisis. So even if your mortgage is worth up to 5% more than your home, you can still get approved for a loan refinance or modification. Now, Ditech customers can do themselves a favor and get into a much more affordable loan, and use the savings to pay off other debts.

Homeowners who have thinking about getting a mortgage modification or refinance should jump at this chance to save a large amount of money every month. Call your Ditech loan officer and see what your options are, and the potential savings you will get. Take action of your situation and do something about it before it gets worse.

-M Petrone
www.RefinancingCondo.com

Knowing where to expect mortgage rates to go in 2009 can save a a homeowner or buyer a lot of money. By getting the lowest interest rate you can, you are saving yourself, hundreds, maybe thousands of dollars in unnecessary interest payments. So predicting mortgage rates can be very beneficial so you know when to expect the best deal, and can jump on it. Here I predict what mortgage rates will do for the remainder of 2009.

First of all, you should know that the lowest interest rates are for homeowners with a very good credit and FICO score, along with the either 20% equity stake in the home, or a 20% cash down payment. Currently, home loan interest rates are around 5.19% around the country. While these are not the lowest they have been, or I think they will be, they are still very good low interest rates that homeowners who are facing foreclosure should use to save their home and refinance or get a loan modification.

Prediction of where mortgage rates will go for the rest of 2009:
Although being 100% sure is impossible, I think I have a good idea what to expect from mortgage interest rates based on some simple observations. I know home mortgage lenders and banks are flooded with refinancing, loan modification, and home loan applications thanks to the very low interest rates available through last month. I think rates were recently increased as a response from the lenders and banks to slow down the tide of applications and homeowners looking for help. Around mid October or so look for interest rates to drop to a level somewhere around 4.69% for a national average on a 30 year fixed rate home loan. This will be because of the lenders and banks being caught up with all prior paperwork and hungry for a new round of refinancing, loan modification, and home loans.

-M Petrone
www.RefinancingCondo.com

Opting to go with a VA loan to refinance your home mortgage can be great for your budget. It is possible to get cash when you need it. If you need to consolidate your high interest debt or pay for a child’s tuition a VA loan can be beneficial.

VA refinancing loans can be great. If you need you can find cash in little to no time at all. It can be a great tool to utilize.

What a VA loan transaction requires is repayment of the estate debt. The loan must be for the same property and also the same borrower. What this is called is “Cash Out Refinance.” This “Cash Out Refinance” is considered the principle residence of the homeowner.

In general the rule for the owner is that their homes can be refinanced for up to 90% of its appraised value. However, this option is not available in every state so check whether you are in a state that offers this option. The closing cost must be at par with the ratio of the homes value.

It does not matter how long the home have been owned, it is not a requirement for this loan. However, the minimum requirement is that the homeowners pay the loan on time on a consistent basis.

Most often people are not aware whether their rates are adjustable. This is a big concern because most people budget their income to accommodate the payment that they currently have. Fixed VA loans are great because it allows the borrower to know exactly how much they need allow for their payments every month.

This however is up to the lender to decide. The other option would be the VA loan that with an adjustable rate. On average the interest on the loan is adjusted by 1% every year. The duration of this is usually around five years and would typically reach 5%.

The only person that knows what is best for you is yourself; never take the first offer that is given to you. It is a common mistake people make, jumping on the very first offer because they are worried or not exactly sure of what to do or what they can do.

Do some research and find a plan that best fits you and your situation. It is recommended to speak with a consultant and look at their calculations. Look at how differently you make have to make the payments, depending on whether you choose to go with an adjustable VA loan or a VA loan that has a fixed rate. Make sure you are absolutely comfortable with the plan that is offered.

Once you have the numbers, think whether you would be able and comfortable with your monthly payments and go from there.

Those people who are fortunate enough to have been given a loan from either Freddie Mac or Fannie Mae are now able to refinance or modify their loans. This is because of the new guidelines implemented by President Obama’s new plan “Making Home Affordable.”

Some are not exactly sure how one would qualify to refinance their loans or for a loan modification. Some requirements for eligibility in Obama’s new plan:

- Those homeowners who are not eligible to modify or refinance their loans using President Obama’s stimulus plan are those who have declared bankruptcy.

- A home with more than a single family in a residence is also not eligible for the Obama stimulus plan

- Homeowners who have seen their homes drop in value should not feel discouraged. Those who have seen the value drop by as much as 5% are eligible for the plan.

- If your monthly mortgage payments are higher than your homes actual value you are eligible for the stimulus plan.

- Those people who are automatically eligible to refinance or modify their loans according to Obama’s plan are any homeowners who have their home loans financed, insured or backed by Freddie Mac or Fannie Mae.

Now more than before loan refinance and modification are favoring the borrower. A limit for a mortgage payment has been placed into affect by the Federal Government. Due to the current state of the housing market, a home loan can now be no more than 31% of the buyers’ monthly income. Also a buyer’s total debt including home loan, credit cards, living expenses, etc must not exceed 55% of the homeowners’ income. HUD, Housing and development department sponsored by the government, will offer homeowners free mortgage counseling if they wanted to use this option. The agents provided by HUD will be your representative and work to get you a fair deal on your mortgage rates. Get a great deal on your mortgage just do a little research and make sure you get the best possible deal out there.

The economy is tough, and the housing market is even worse. Many homeowners are struggling to make their monthly mortgage payments, and lots are facing foreclosure or defaulting on their home loan. There is some good news though, and it comes from President Obamas “Making Home Affordable Plan” which is a $75 billion plan to help homeowners refinance or modify their home loan into a fixed rate 2% home mortgage. The amount of money the average homeowners will save is in the hundreds per month, and qualifying is easy. Here is how to use this plan to your advantage and save a lot of money, or your home from being foreclosed on:

The first thing you should know, is that this plan is offering cash incentives to mortgage lenders and banks who offer assistance to homeowners facing “Financial Hardships” or otherwise are considered “High Risk”. These cash incentives enable lenders and banks to loosen up the requirements needed to refinance or modify a home loan. Ultimately that means that more applications will be approved, and even if you have been denied a home loan modification or refinancing in the past, or your credit is bad, or the value of your home has dropped, odds are you will still be approved for the home loan refinancing or modification.

Here are some of the eligibility and qualifications needed to use this “Making Home Affordable Plan” to your advantage:

-The home to be refinanced using Obamas plan needs to be lived in as a primary residence of the actual homeowner. This plan will not assist people looking for help with a second home, investment property, or vacation home.

-This plan will only to qualify for home loans which have a current balance remaining on them of $729,500 or less.

-Millions of homes have seen their value drop as a result of the bad economy, and worse housing market. As a result, homeowners are increasingly being stuck with mortgages that are worth more than the homes market value. Even after years of payments. This plan will allow homeowners who have seen their home values drop by 15% or more a chance to get a proper 2% fixed rate home loan modification or refinancing.

Homeowners all over the country should do themselves a favor and at least call a mortgage lender or bank. The savings being reported from homeowners who have taken advantage of this plan and gotten a fixed rate 2% home loan refinancing or modification are reported to be in the hundreds of dollars per month. This easily equals thousands of dollars in savings over the course of the home loan. You can easily save a lot of money, or maybe most importantly your home from foreclosure, by taking a few easy steps and doing something about your problem.

-M Petrone
www.RefinancingCondo.com

Wells Fargo is taking part in President Obamas “Making Home Affordable” plan. This means that if you are a homeowner and looking to get a home loan refinance or modification, now is the best time ever. This plans guidelines, which Wells Fargo follows, allows a home owner to get a fixed rate 2% home loan. This will enable millions of homeowners to save a lot of money every month, or even save their home from foreclosure.. Here is is some great information to get you started.

Homeowners who are facing “Financial Hardships” including, bad mortgages, job loss, loss of income, hospital bills, high credit card debt, or a whole list of things can use this plan and get themselves into a new home loan with a 2% fixed interest rate. Luckily for customers of Wells Fargo, they have the specialists and resources necessary to allow homeowners full use of this plan to help them save money or their home. This, combined with Obamas plan, is just the thing many Wells Fargo customers need to save their financial futures from disaster.

This plan even allows homes which are now worth less in the market than the mortgage on them is for. This will enable homeowners who have seen the value of their home drop as a result of the housing crisis. So even if your mortgage is worth up to 5% more than your home, you can still get approved for a loan refinance or modification. Now, Wells Fargo customers can do themselves a favor and get into a much more affordable loan, and use the savings to pay off other debts.

Homeowners who have thinking about getting a mortgage modification or refinance should jump at this chance to save a large amount of money every month. Call your Wells Fargo loan officer and see what your options are, and the potential savings you will get. Take action of your situation and do something about it before it gets worse.

-M Petrone
www.RefinancingCondo.com

Before you sign anything regarding a mortgage refinance or modification, there are some things which you should know. There are a few easy things you can do which may save you hundreds, maybe thousands of dollars when refinancing your home mortgage loan. A lot of these tips are pretty typical, and easy to answer. Most likely, your home is the most expensive thing you will own in your life. Should you decide it is the right time to get a loan modification or mortgage refinance, read through these tips, and see where you could be saving even more money.

Make sure You Read Any and All Fine Print
Wen you are refinancing your home mortgage, like any other expensive thing, make sure you are fully aware of all the terms, conditions, and aspects of the loan. Make sure you know if it is a fixed rate or an ARM loan, if there is a balloon payment at the end of the loan, or if it is a higher interest rate than quoted.

Be sure to Shop Around for the very best Home Mortgage Interest Rates, Terms and Conditions
Do not just assume that all mortgage lenders offer the same interest rates, terms, and conditions to homeowners. It is very important to look at the total cost, and benefits involved from each lender and each type of refinancing or loan modification option they offer you. However, do not let mortgage lenders or banks run your credit multiple times unless you are pretty certain they are the lender you will be choosing to refinance with.

Do Not Borrow More Money than You are Able to Afford
This is especially critical when the economy is as bad as it is now. Getting an ARM loan just because you desire a bigger home, or a better neighborhood, may not be a smart financial move. The same thing can hold true though when refinancing a home loan. Do not get extra money out of the deal thinking that you will use the money only for emergencies, odds are you wont. Especially if you will have nothing to show for it, focus on paying off your home as fast as possible and avoid borrowing any more than is absolutely needed.

Always Pay Attention to All Closing Costs and Fees
Refinancing or getting a home loan modification can be an intimidation thing to do. It is crucial you understand the benefits and risks associated with refinancing a home loan. A lot of homeowners are very surprised to learn that the costs and fees when refinancing a home loan can easily add up to a few thousand dollars. Always make sure you know the exact fees and costs you will be paying prior to signing anything.

These are a few simple things to keep in mind when looking into getting your self a home loan modification or refinance.

-M Petrone
www.RefinancingCondo.com

Everyone would like to know where the mortgage interest rates will go in 2009. Right now, mortgage rates are near all time lows all over the country. A lot of markets have interest rates which are under 5% for a 15 year fixed rate home loan. Always remember though that the only homeowners who will be truly able to get the lowest home loan interest rates have both 20% cash down, and a good FICO score of over 700. Typically, a 5.25% interest rate is the average that homeowners right now are getting, but that will change. However, many homeowners will still be able to benefit by getting a home mortgage refinancing or loan modification.

Mortgage Rates in 2009
It is impossible to be 100% sure when predicting mortgage rates, but I think I have a good idea of what to expect. I know that refinancing and home loan modification applications are flooding mortgage lenders and banks with paperwork. For this reason I predict that home mortgage rates may increase by .5% to around a 5.75% national average. This will be in part, to help the mortgage lenders and banks catch up and deal with the hug e new crop of homeowners looking for refinancing or loan modification thanks to Obamas “Making Home Affordable” plan.

So, my prediction for mortgage rates is a .5% increase followed in months after with a consistent decline in mortgage rates until they drop to 4.5% for the national average. This means that even though now rates are slightly higher than I think they will get too, homeowners who are facing foreclosure or defaulting on their mortgage should take action now and get a home loan refinance or modification.

When refinancing always get any quotes written down on paper from potential mortgage lenders and banks. The promises that are made verbally are meaningless until they are on paper. This way you can help ensure you are getting the best deal possible.

-M Petrone
www.RefinancingCondo.com

A lot of homeowners would love to take advantage of lower interest rates which may be available to the. This is done through a home mortgage refinance or a home loan modification. Most people have no idea with where to start, or what anything means. To help, here are some facts and tips about refinancing or getting a home loan modification.

What is Refinancing a Home Loan?

Refinancing a home mortgage just means you are getting a new home loan, with lower interest rates, or different terms and conditions which are more favorable to you, and replacing your current loan with that one. So ideally, with the new loan and its different terms and conditions, the homeowner would save money through interest rate reductions, lengthen their home loan to lower the payments, or change other terms of it to meet their financial goals.

What is a Cash Out Home Mortgage Refinance?

When a homeowner gets a cash out home mortgage refinance, they are getting a home loan which offers more cash than what is actually needed to repay the existing home loan. The money that is left can then be used by the homeowner for whatever they wish. However, it is wise to use this money to better or grow your financial situation.

Get a Home Loan Modification or Refinance to Save Money Every Month.

By far the most popular reason a homeowner refinances their home loan is to save money, one way or another, every month on their home mortgage payment. To do this, the length of the loan can be extended, reducing the payments but increasing overall interest payments. Or, if you are able to obtain a low enough interest rate the savings could be significant enough, even after paying the closing costs and fees, to take advantage.

These are just a few tips to help you get started if you are thinking of getting a home loan modification or refinance. Always remember to use patience and research any potential mortgage lender, document, or refinancing deal thoroughly to help ensure that when you are refinancing your home you do not make a costly mistake.

-M Petrone
www.RefinancingCondo.com

With the economy being in such bad shape, and the housing market in even worse condition, a lot of homeowners are facing financial problems. This quickly leads to problems making the mortgage payments, and an eventual foreclosure or mortgage default. However, homeowners facing financial hardships, which include many things, can now get a home loan refinancing or modification at a 2% fixed rate using President Obamas “Making Home Affordable Plan”. Here is how it all works and you can get part of this Government housing bailout money for yourself.

This $75 billion plan from Obama will allow mortgage lenders and bank to offer fixed rate 2% home loan refinancing or modification options thanks to the cash incentives provided from the plan. The Government will give cash incentives to every lender and bank who approve at risk, or homeowners facing foreclosure, in order to help them minimize their risks and help more people. This means that even if you have bad credit, been rejected before, have a mortgage worth more than the homes market value, or a lot of other things, you can get a fixed rate 2% home mortgage. The savings could easily add up to hundreds every month.

-If you are a homeowner who has been unfortunate enough to see the value of your property drop by 15% or more as a result of the bad economy and housing market, you are now eligible to refinance that home through use of the “Making Home Affordable Plan”. This helps millions of homeowners who are stuck with mortgages worth up to 5% more than the homes market value due to the sluggish market and tough economy.

-Only homes where the owner lives as a primary home will be eligible to use the Obama plan. This plan will not help homeowners who are looking for assistance with their second homes, investment properties, or vacation homes. Only homes where the homeowner lives in most of the time, and have a mortgage with a balance of less than $729,500 will qualify for a 2% fixed rate home mortgage refinance.

If you are a struggling homeowner, odds are you will save hundreds per month just by taking advantage of Obamas plan. After all, it is designed to help millions of homeowners get a home loan modification or refinancing into a fixed rate 2% home loan. The savings would be incredible so look into it for yourself before it is too late.

-M Petrone
www.RefinancingCondo.com

The economy is tough, and the housing market is even worse. Many homeowners are struggling to make their monthly mortgage payments, and lots are facing foreclosure or defaulting on their home loan. There is some good news though, and it comes from President Obamas “Making Home Affordable Plan” which is a $75 billion plan to help homeowners refinance or modify their home loan into a fixed rate 2% home mortgage. The amount of money the average homeowners will save is in the hundreds per month, and qualifying is easy. Here is how to use this plan to your advantage and save a lot of money, or your home from being foreclosed on:

The first thing you should know, is that this plan is offering cash incentives to mortgage lenders and banks who offer assistance to homeowners facing “Financial Hardships” or otherwise are considered “High Risk”. These cash incentives enable lenders and banks to loosen up the requirements needed to refinance or modify a home loan. Ultimately that means that more applications will be approved, and even if you have been denied a home loan modification or refinancing in the past, or your credit is bad, or the value of your home has dropped, odds are you will still be approved for the home loan refinancing or modification.

Here are some of the eligibility and qualifications needed to use this “Making Home Affordable Plan” to your advantage:

-The home to be refinanced using Obamas plan needs to be lived in as a primary residence of the actual homeowner. This plan will not assist people looking for help with a second home, investment property, or vacation home.

-This plan will only to qualify for home loans which have a current balance remaining on them of $729,500 or less.

-Millions of homes have seen their value drop as a result of the bad economy, and worse housing market. As a result, homeowners are increasingly being stuck with mortgages that are worth more than the homes market value. Even after years of payments. This plan will allow homeowners who have seen their home values drop by 15% or more a chance to get a proper 2% fixed rate home loan modification or refinancing.

Homeowners all over the country should do themselves a favor and at least call a mortgage lender or bank. The savings being reported from homeowners who have taken advantage of this plan and gotten a fixed rate 2% home loan refinancing or modification are reported to be in the hundreds of dollars per month. This easily equals thousands of dollars in savings over the course of the home loan. You can easily save a lot of money, or maybe most importantly your home from foreclosure, by taking a few easy steps and doing something about your problem.

-M Petrone
www.RefinancingCondo.com

Are you a homeowner who is considering getting their home loan refinanced or modified through Wells Fargo? If so, you are in luck thanks to President Obamas “Making Home Affordable Plan” which will allow homeowners the opportunity to get themselves into a 2% fixed rate home loan through refinancing or loan modification. Wells Fargo is a large, reputable, qualified lender for Obamas plan. Here is more information for homeowners who want to get a refinancing or home loan modification through Wells Fargo.

Getting a refinance or home mortgage modification through Wells Fargo has never been easier, or more in the borrowers favor. The “Making Home Affordable Plan” now allows homeowners the chance to get a Government backed 2% fixed rate home loan. Wells Fargo, one of the nations leading mortgage companies, is now authorized to use Obamas plan to assist homeowners. This is possible due to the large lending power a company of that size has, and from the fact that the housing stimulus plan gives cash incentives to mortgage lenders and banks who assist homeowners who are “at risk” either financially, or of losing their home. With these cash incentives any risk a lender or banks were taking by helping homeowners in a “Financial Hardship”. Now, a struggling homeowner can enjoy the ultra low 2% fixed interest rate, and see huge savings every month through interest reductions.

By using such a big, reputable, powerful company such as Wells Fargo, you are doing yourself a favor. They have the experience and specialists to help almost any homeowner, in any situation. Especially now with the Obama housing bailout plan in full swing. Foreclosures are good for nobody, and banks and lenders know this. Now, more than ever, there is a willingness to want to help homeowners, as opposed to letting them lose their home to foreclosure or mortgage default.

Homeowners should at least look into the potential savings that can easily be had through a home refinancing or loan modification. This plan from Obama makes it easier, and more beneficial than ever for homeowners to save, on average hundreds per month, on their home loan payments. Ensure your financial future, and the future of your home today and take the action needed to refinance your home loan with Wells Fargo.

-M Petrone
www.RefinancingCondo.com

Predicting the home mortgage interest rates for 2009 can seem hard to do, but the truth is we have a pretty good idea of what to expect. Whenever someone is purchasing a home or getting a loan modification or refinance, knowing when the lowest rates are available can save you hundreds per month on your home loan. Here are my predictions for mortgage interest rates for 2009.

Only a few weeks ago, the national home interest rate average has increased by about .5% all across the country. This was accurately predicted by me in earlier articles, and I think I know why this happened, and what will happen next.

I thought that interest rates would be increased by about .5%, and they were, as a response by mortgage lenders and banks to ease the massive amount of homeowners looking to refinance or get a home loan modification. This way, the lenders and banks can separate homeowners who truly need to save their home from foreclosure or mortgage default, and those homeowners who are just looking to save money. This temporary rate increase was issued in order to catch up on existing applications and approvals which have continued to flow in since Obamas announce of his “Making Home Affordable Plan” in March.

This “Making Home Affordable Plan” allowed homeowners to get a 2% home mortgage refinancing or modification. This was made possible by the Government providing over $75 billion in cash incentives to lenders and banks who approve homeowners who are “at risk” wither credit wise, or of losing their home. As a result a large number of applications came in and the paperwork was overwhelming.

However, as 2009 continues and the mortgage lender and banks catch up on their existing customers, they will look to lower interest rates by .5% or so. I predict that this will happen around mid October, and leave the average 30 year fixed rate mortgage with a 4.69% interest rate. The mortgage lenders and banks will be hungry for more customers looking for a refinancing or mortgage modification yet again.

If you can wait a few months do so. However if you are facing foreclosure or are in a bad financial position, take action now to prevent losing your home.

-M Petrone
www.RefinancingCondo.com

Homeowners facing financial hardships and would like to get a fixed rate 2% home mortgage refinancing or modification should take advantage of President Obamas “Making Home Affordable Plan”. This housing bailout is a $75 billion plan to help homeowners save their homes, and hundreds of dollars per month. Here is how to use it to your advantage:

-Homeowners facing a “Financial Hardship” which can include bad mortgages, loss of job, loss of income, hospital bills, or a whole list of other things, can use this plan from Obama to refinance their home loan into a Government backed fixed rate 2% mortgage. If you are going to apply for this modification or refinancing program from Obama, make sure to include a handwritten and signed letter stating all of your “Financial Hardships”. Include all related bills, bank statements, pay stubs, tax returns, and any other related documents. This will help ensure your approval for a great low interest home loan.

-A wide variety of new home loan and low interest grants are available from the Government to help ease homeowners immediate financial hardships, and increase the chance they will not lose their home to foreclosure. These grants and loans can be used to pay off other higher interest debts, and save the homeowner hundreds in interest payments per month.

-Homeowners who currently pay more than 31% of their monthly gross income towards their monthly mortgage payment are now eligible to use the “Making Home Affordable Plan” to modify their home loan into a payment which would equal 31% or less of the homeowners monthly income.

-If a homeowners debts, including the monthly home loan, are more than 51% of a homeowners monthly income, they will need to agree to go to free government provided Credit counseling. You can find out more about these free credit counseling sessions by visiting your local HUD office.

-Homes which have declined in value more than 15% will be eligible to use the benefits from the Obama plan, including 2% refinancing or mortgage modification. A lot of homes have dropped in value as a result of the bad economy, and the housing market, which is even worse.

Mortgage modification or refinancing
are great options, especially using the Obama plan, for a homeowner to save money every month, or even their home. You should take advantage now, or at least look into the potential savings which you can get through this “Making Home Affordable Plan” and see if it is worth it for you. If you are financially struggling and a homeowner, odds are you can save hundreds a month with this plan.

-M Petrone
www.RefinancingCondo.com

If you are considering getting a home loan refinance modification with Wells Fargo, you may find it easier, and more in your favor than ever before. Right now, President Obamas “Making Home Affordable Plan” allows homeowners the chance to get themselves into a 2% fixed rate home loan. Wells Fargo is a lender who is qualified to offer loan options following the guidelines of Obamas home mortgage refinancing and modification stimulus plan Here is how you can qualify, and use Wells Fargo's expertise to take advantage of Obamas plan:

The bailout plan from Obama allows home mortgage interest rates to be lowered to as low as 2% in order to help homeowners recover from the bad economy, and the worse housing market. Now a homeowner will have a much better chance of being approved for a home refinancing or modification plan that would save them money every month through reduced interest rates. Homeowners who have Wells Fargo as their home loan provider will benefit from the experience, knowledge, and good reputation they have for assisting homeowners, especially those in financial hardships. Wells Fargo already has a great track record of foreclosure prevention for its customers, which shows their willingness to work with a homeowner to get them an affordable monthly home payment, and avoid losing their home. Foreclosures really benefit nobody when its all said and done, Wells Fargo is aware of this and will work with you. Now though, they are able to offer more assistance than ever thanks to the $75 billion “Making Home Affordable Plan” which gives cash incentives to mortgage lenders and banks who work with “at risk” homeowners to refinance or modify their home loan. This means the odds of you being approved and saving your home have greatly improved.

When you are refinancing or getting a home loan modification, you are most likely dealing with the most expensive thing you will ever own in your life. By using the services of expert lending companies such as Wells Fargo, you are doing yourself a favor. Look into the potential savings you can get through a simple loan refinance or modification, you owe it to yourself.

-M Petrone
www.RefinancingCondo.com

Right now, millions of homeowners are in a tough financial situation and at risk of losing their home to foreclosure. The economy is bad, and the housing market is even worse. Luckily, Obamas “Making Home Affordable Plan” will allow homeowners to get a Government backed fixed rate 2% home mortgage refinancing or modification. Here is how to take advantage:

President Obamas “Making Home Affordable Plan” is a Government backed $75 billion housing bailout program. This plan will help stop the tide of foreclosures, help homeowners get lower fixed interest rates, and help increase consumer confidence in the housing market. Nearly every time a home is foreclosed on, the surrounding property values drop, by as much as 9%, from each foreclosure. This plan would reverse the downward home values, and allow millions to keep their home. A fixed rate 2% interest rate would save many homeowners hundreds of dollars every month. This money can be used to pay down other debts, home improvements or repairs, or anything you can think of. Here are some of the eligibility requirements that a homeowner must meet in order to take advantage of President Barack Obamas plan:

-Homes with a mortgage balance of less than $729,500, if it was higher at one point that is OK, but the amount owed now is what matters.

-The home in question to be refinanced or modified is to be lived in as a primary residence of the homeowner. Rental, vacation, and other investment properties do not qualify for a home mortgage refinancing under Obamas plan.

-This plan is only for homes which were purchased, and closed on prior to January 1st 2009.

-If a homeowner is currently paying more than 31% of their gross monthly income towards their monthly home loan, they can now modify their mortgage and obtain payments that are equal to or less than 31% of their gross monthly income.

-Homeowners facing “Financial Hardships” need to include a handwritten letter stating the hardships, along with the related bills, financial statements, bank statements, tax returns, pay stubs, and any other related information.

By offering a ultra low 2% fixed interest rate for homeowners who either want to get a mortgage refinancing or loan modification, the rate of foreclosures will drop, home values will rise, and the economy can start to recover.

You owe it to yourself, your family, and your financial future to see the potential savings that you can easily get by using this “Making Home Affordable Plan” for yourself.

-M Petrone
www.RefinancingCondo.com

Knowing the difference between a fixed rate home loan, or a ARM (Adjusted rate mortgage) loan when you are refinancing, getting a loan modification, or purchasing a home can mean the difference in thousands of dollars in savings Here are the differences between a traditional fixed rate home loan and an ARM loan:

Fixed Interest Rate Home Loans:
The most stable of the two loan choices is a fixed rate home loan. A fixed rate loan means that the interest rate and principal payments will remain the same throughout the course of the loan, regardless of what else happens. However, the stability of a fixed rate home loan often comes with a slightly increased interest rate that an ARM loan would. Generally, if your looking into obtaining a loan or refinancing for $417,000 or less, then a “Conforming Loan” will most likely be best for you. IF the loan amount is going to exceed $419,000, typically a “Jumbo Loan” will be your best choice.

Here are some typical conditions which may need to be followed to obtain a “Fixed Rate” home loan:

-Your income must be consistent and dependable.
-You feel comfortable with paying slightly higher interest rates over an ARM loan due to the stability of a fixed rate home mortgage loan.
-You do not have any plans to move out of your home within the next 7 years.

ARM (Adjustable Rate Mortgage) Loans:
A typical ARM loan has a fixed rate of interest at the beginning of the loan, which is fixed for a set number of months before it is open to periodic adjustments. For a smaller interest rate and lower monthly mortgage payments at the start of the home loan, you are allowing the interest rates to be adjusted at a period later on in the loan. The same rules for jumbo and conforming loans apply to ARM loans as they do to Fixed Rate loans.

Here are some typical conditions which may need to be followed to obtain a ARM” home loan:

-You feel comfortable having a smaller payment and lower interest rates for the start of the loan in exchange for periodic interest adjustments in the future.
-You desire the absolute lowest interest rate and total cost possible.
-You see yourself moving and selling your home within the next 7 years,

-M Petrone
www.RefinancingCondo.com

Home mortgage interest rate predictions for 2009 can be tricky to estimate, but we do have some good information to work with. Refinancing or loan modification when interest rates are at their absolute lowest will save a homeowner hundreds to thousands of dollars. Here, we will try to predict home mortgage interest rates for 2009.

Not too long ago, the average home interest rates increased by .5% for the first time in months. As I predicted in earlier posts, months ago, I think the rates were increased due to the overwhelming response to Obamas “Making Home Affordable” plan which offered millions of homeowners new refinancing and home loan modification options to help them ease their financial strains, and avoid a foreclosure on their home. The mortgage lenders and banks have applications piling up and in response increased the rates by .5% to weed out homeowners who want to save money, from homeowners who truly need to refinance to save their home. For a homeowner who is looking at refinancing or loan modification as a source of saving their home, a .5% interest rate increase will not stop them from applying, while the opposite is true for those just looking to save money. Therefore, the applications will be reduced and lenders and banks can get caught back up.

This is where my mortgage interest rate prediction for comes into play. For the remainder of 2009, I expect home interest rates to drop, by .5% to their prior position of around 4.69% for a fixed rate 30 year home loan. I think this due to the fact that once the mortgage lenders and banks get through approving the current crop of applications, around mid October or so, that they will be ready and hungry for another round of Government backed refinancing and home loan modification and will reduce the interest rates to attract interest from homeowners.

If you can, wait until the middle of October for a refinancing or mortgage modification. This way you will get the lowest rates of the year, and probably lowest rates ever. However if your financial situation is in dire need of a fast dramatic improvement, now is still a great time to refinance your home loan.

-M Petrone
www.RefinancingCondo.com

President Obama and his team have enacted a home mortgage refinancing or modification stimulus package backed by $75 billion in Government money to help homeowners obtain a more affordable monthly home loan payment. Over 9 million homeowners are able to use this plan to their advantage and save hundreds every month. Here is how it works:

Since foreclosures are at all time highs all across the country, and home prices and consumer confidence in the housing market are plummeting. As a response to these very obvious problems millions are facing, Obamas “Making Home Affordable” plan will allow homeowners, even those facing or in foreclosure, the chance to get a fixed rate 2% home mortgage refinance or modification. This would save homeowners hundreds of dollars every month which would lower the foreclosure rate, and drive up consumer confidence as well as home prices. This would help everyone, homeowners, banks, mortgage lenders, and the economy overall. However, there are some eligibility requirements that a homeowner must meet in order to be able to obtain the fixed rate 2% home loan through refinancing or loan modification using Obamas “Making Home Affordable” plan.

Here, I have listed the major requirements for eligibility in Obamas housing stimulus plan:

-The home loan must have a balance of less than or equal to $729,500. Even if at one time it was more than that, the only thing that matters is the remaining balance owed.

-This “Making Home Affordable” plan is only for homeowners first mortgage, or primary home loan. Second mortgages, and similar things will not be eligible to take advantage of Government backed 2% fixed interest rates.

-Mortgages that are backed, financed, or insured by Freddie Mac or Fannie Mae are automatically eligible for modification into a fixed rate 2% loan by using the housing bailout stimulus plan. These are two of the largest lenders in the country, and millions of homeowners have home loans through them.

-Homeowners must be facing some type of financial hardship. Some of which include, job loss, loss of income, medical bills, tuition, plummeting home values, and a whole list of other things. Be sure to include a handwritten and signed letter stating your “Financial Hardships” and include it with your refinancing or home loan modification application.

-Homes which have lost 15% or more of their value can now have their loans refinanced into a lower rate. This helps a lot of people who bought a home, especially just a few years ago, and have since seen the value of said home drop dramatically as a result of the tough economy, and worse housing market.

You owe it to yourself to look into refinancing or mortgage modification and see just how much you could be saving every month. It is easy to find out, easy to qualify for, and the savings are huge. Do yourself a favor and take advantage now.

-M Petrone
www.RefinancingCondo.com

If you are a homeowner who has a mortgage backed, financed, or insured by Wells Fargo you can take advantage of President Obamas “Making Home Affordable” plan which allows 2% fixed rate home mortgage refinancing or modification options. The savings a customer of Wells Fargo can obtain using this plan can easily equal hundreds of dollars every month. Here is how you can refinance or modify your home loan using President Obamas “Making Home Affordable” plan:

Wells Fargo is now offering a fixed rate 2% home loan refinancing or modification to homeowners who are approved for a refinance or loan modification through Obamas stimulus housing bailout plan. This means that a homeowner now has a much better chance of being approved for a money saving, interest reducing, home loan refinancing. Homeowners who are lucky enough to use Wells Fargo as their home loan provider have the assurance that one of the biggest, most reputable, companies in the industry have the resources to help almost any homeowners in any financial situations. Mortgage lenders like Wells Fargo have realized that allowing a large amount of homes to go into foreclosure benefits no one, and now more than ever, they are going to work with “at risk” homeowners in an attempt to avoid foreclosures and mortgage defaults.

Making a big decision on what is most likely going to be the most expensive purchase in your life can be intimidating, and sometimes scary, but it does not have to be. Wells Fargo has loan specialists who work with people in tough financial situations, to find them the best refinancing or mortgage modification deal possible. Take advantage of this great program form Obama and get yourself locked into a 2% mortgage, and see the savings quickly add up.

-M Petrone
www.RefinancingCondo.com

The tough economy, and worse housing market, have left millions of homeowners struggling to make their monthly home loan payments. There is relief for these homeowners though with Obamas “Making Home Affordable” plan which allows homeowners who are financially hurting, the chance to get a 2% fixed rate home loan through a simple mortgage modification or refinance. Here is how the plan works:

This $75 billion housing bailout plan is a great chance for a lot of homeowners to refinance or modify their home mortgage loan and obtain monthly payments which they can actually afford. The bulk of this package from Obama will be given as cash incentives to mortgage lenders and banks for every financially struggling homeowner they approve for loan modification or refinancing under the guidelines of Obamas plan. This means that banks and lenders risks are minimized, and therefore more applications will be approved. Hopefully this can stop the rise in the number of foreclosures, which hold the market back from regaining its full strength, and will restore consumer confidence in the housing market.

There is a very good chance you are eligible to use this stimulus plan and refinance or modify your home loan into a 2% fixed rate, however not everyone will be approved. Homeowners who meet the following requirements will be able to get the Government backed fixed rate 2% interest rate on their home mortgage.

Here, I have included some of the requirements from Obamas “Making Home Affordable” plan:

-Only homes in which the homeowners lives in as a full time residence will be eligible for a 2% home mortgage refinancing or modification. This plan will not apply to second homes or investment properties.

-The balance remaining on the home loan must not exceed $729,500. It could have been higher at one point, but to use this stimulus plan the remaining amount owed must be less than that.

-If you are a homeowner who is currently paying more than 31% of your gross monthly income towards your monthly mortgage payment, you can use this stimulus plan and get your home loan modified into a much more affordable rate.

-The homeowner, must be going through, and show proof, of “Financial Hardship” in order to qualify for this plan.

Overall, this plan will assist millions of homeowners through refinancing or mortgage modification which allows a more manageable and affordable monthly home loan payment. You owe is to yourself, your family, your home, and your financial future to at least look into the savings that could be had from this plan.

-M Petrone
www.RefinancingCondo.com

If you are a homeowner who has their mortgage financed, or insured through Fannie Mae or Freddie Mac you can now get a 2% fixed rate home loan through a mortgage modification. This opportunity to save a lot of money is thanks to President Obamas “Making Home Affordable” plan which is a $75 billion package designed to help struggling homeowners save their home. Here is how you can use this plan for yourself:

-Homeowners who have missed a payment, or even multiple payments, for any reason can apply for this plan to refinance or modify their home loan into a fixed 2% interest rate. Odds are, you will be approved for this plan since you have missed some payments, and it is obvious you are struggling financially.

-This housing bailout plan is only for a home in which the owner lives as a primary residence. Investment, vacation, and rental homes are not covered in this housing bailout plan.

-Homeowners are now able to refinance or modify their home loans even if they owe more on the mortgage than their home is actually worth. Your mortgage can be worth up to 5% more than the value of your home and you will still be approved for a home loan refinancing or modification. This helps millions of homeowners who have seen the value of their homes drastically decline as a result of the bad economy, and the worse housing market.

-Any homeowner who has a mortgage backed, financed, or insured by either Fannie Mae or Freddie Mac are now automatically eligible to get a 2% fixed rate home loan modification or refinancing according to the rules and guidelines established by this Obama “Making Home Affordable” plan.

Now, getting a home mortgage refinancing or modification is more in the borrowers favor than ever before, and easier to get too. Ideally, this plan will help stop and prevent foreclosures all over the country. Eventually this will lead to more consumer confidence which in turn leads to higher home prices and the start of a recovering economy. Call a mortgage lender or bank and see if you qualify, odds are, you do.

-M Petrone
www.RefinancingCondo.com

Millions of homeowners all across the country are currently at risk of losing their home to mortgage foreclosure. This is due to the tough economy, a bad housing market, and a lot of homeowners with bad loans which they just can not afford. Well, luckily, President Obamas $75 billion “Making Home Affordable” allows financially struggling homeowners the chance to lock in a fixed rate 2% home loan through refinancing or loan modification. So, here are some of the details of this plan, and how you can qualify.

This amazing chance for homeowners to refinance or modify a home loan is being funded by Obamas “Housing Stimulus Plan” and is being targeted towards homeowners in order to keep their home mortgage payments affordable, and ultimately, keep them in their home. With the rise in the number of foreclosures across the country, housing prices are dropping and playing a big part in preventing the economy from rebounding. Obamas hope is that this plan can curb the tide of foreclosures, and help millions of homeowners at the same time.

Although millions of homeowners will be eligible to take advantage of this plan for themselves, not everyone is able to be approved for this “Housing Stimulus” plan. Only homeowners who are able to meet all of the requirements for eligibility will be able to get a 2% Government backed home mortgage refinancing or modification.

Here is who Qualifies for the Federal Housing Bailout Stimulus Bill:

-The homeowner must live in the home full time. No second or investment homes are eligible for this plan from Obama.

-The amount remaining on the home loan must be less than $729,500

-The home mortgage must have been closed on and finalized prior to January 1st 2009

-Homeowners with monthly mortgage payments that are over 31% of their gross income can use this plan to their advantage.

-The homeowner must be facing some type of financial hardship.

This plan will help millions of homeowners simply by the fact that through the refinancing and loan modification options available are at extremely low interest rates. Savings of hundreds per month seem to be what the average homeowner is receiving through the use of this plan. Take advantage of it for yourself, your finances, and the future of your home.

-M Petrone
www.RefinancingCondo.com

If you are a homeowner and having a hard time refinancing or getting a loan modification, you are in luck. President Obamas “Making Home Affordable” plan makes getting a 2% fixed rate home mortgage easier than ever. This is a $75 billion package to help homeowners who are struggling financially make their monthly mortgage payments. Homeowners will be able to avoid foreclosure, and save huge sums of money by taking advantage of this plan. Here is how it will all go down:

-Their are new loan and grant programs offered by the Government and available to millions of homeowners, These super low interest grants and loans can be used by struggling homeowners to reduce their other debts, and increase the odds of a homeowner being able to keep their home.

-If a homeowners total monthly debts, including the mortgage, exceed 51% of a homeowners gross income will have to attend free Government credit counseling sessions in order to use this Government sponsored “Making Home Affordable” plan for their home mortgage. The same 2% fixed rate home loan will be available as long as the homeowner is approved.

-Homeowners facing all types of “Financial Hardships” can apply for the 2% fixed rate home modification option available from this Obama homeowner relief stimulus plan. The financial hardships can be a lot of things including, loss of job or income, hospital bills, and other high debts. BE sure to include a handwritten letter of your “Financial Hardships” and include any related information such as bills, bank statements, pay stubs, and tax returns.

-A lot of homeowners have seen the value of their property drop by 15% or more as a result of the housing crisis, and the tough economy in general. Now, homeowners who have experienced this can take advantage of the “Making Home Affordable” plan and get their home loan refinanced or modified into a fixed 2% mortgage.

The amount of money that homeowners can save by using this stimulus refinancing and loan modification plan is insane. You owe it to yourself to at least look into the potential savings that you most likely are eligible to get by using this plan

-M Petrone
www.RefinancingCondo.com

A large number of homeowners have been financially hurt by the housing market meltdown, and the mortgage crisis. Of those homeowners, a large number of them are in financial trouble through no real fault of their own. Jobs have been lost, incomes reduced, and a lot of people got into bad mortgages, which became worse as the market went down. However, a home loan modification may be able to save homeowners a lot of money, and possibly their home. Here is how it works:

Homeowners who are delinquent in their payments, or are in danger of losing their home through a foreclosure or mortgage default, can modify their mortgage and get a lower, more affordable, monthly home loan payment. After your applications has been approved, you can start negotiating individual terms and conditions of the potential refinancing or modification loan deal in order to get yourself a more affordable monthly mortgage payment.

First, you will need to speak with a loan refinancing or modification specialist, and ask them for the applications you need. Also, you must handwrite a letter of “Financial Hardship” this letter should include the reasons you have trouble making your monthly home loan payments. This will need to be included with your refinancing or modification application, along with copies of your tax returns, pay stubs, bank statements, bills, and other financial related paperwork.

While it is possible to get a “Do it Yourself” home loan modification, it is not usually advised. For a proper and rewarding home loan modification, use the help of financial professionals. There are a lot of companies which are willing to help you get the right deal on your refinance or mortgage modification, use the internet to easily find them. There are also non profit organizations which you can contact through your local HUD office.

Be sure to be careful when choosing a mortgage lender or bank to assist you with your home loan refinancing or modification. There are always scam artists, who prey on homeowners fears and vulnerabilities. Check a lenders better business bureau record and check for problems with past customers. This is the best way to ensure you get the best refinancing or loan modification deal possible.

-M Petrone
www.RefinancingCondo.com

President Obama and homeowners everywhere are very aware of the tough economic times that the country is going through. These tough times are leaving millions of homeowners struggling to make their monthly loan payments. Housing and property values have rapidly declined, and the record number of foreclosures makes the situation even worse, leaving surrounding properties and homes with a lowered value, by as much as 9% in some cases. A lot of homeowners now actually owe more than their home would be worth on the market. In order to fight these problems, the Obama administration introduced their $75 billion housing refinance and modification bailout plan. The plan, announced this past March, and is just now getting into full swing.

A lot of homeowners do not have the 20% equity typically needed to properly refinance or modify a home loan, and this is due in large part to the struggling housing market. Luckily, this Obama stimulus plan will make refinancing or loan modification easier than ever for homeowners to be approved for. This plan will also offer a lot of homeowners who are facing foreclosure the chance to save their home, and be able to keep it with manageable monthly payments.

Overall, this plan should enable over 9 million homeowners the chance to avoid foreclosure, lower their monthly interest payments, and possibly save their home from foreclosure. This will happen due to mortgage lenders and banks being given cash incentives from the Government for every homeowners who uses this plan to their advantage. These cash incentives will minimize the lenders or banks risk and enable them to approve more homeowners for a home loan refinancing or modification. Now the terms and conditions of being approved for a modification or refinance are more flexible and forgiving than ever before.

Homeowners who are worried about not being able to pay their monthly mortgage payments should immediately speak with a mortgage lender or bank and get more information on this home mortgage refinancing and modification stimulus plan from President Obama. The savings are easy to get, and could save you a lot of money every single month, or more importantly, your home from foreclosure.

-M Petrone
www.RefinancingCondo.com

Homeowners who want to use President Obamas “Making Home Affordable” plan and refinance or modify their home loan with Wells Fargo are in luck. Wells Fargo is one of the countrys biggest, most reputable lending companies and offer some of the best customer service in the industry. Refinancing or modification of a home loan with Wells Fargo, will often lead to savings, and a new lower monthly mortgage payment.

When making a decision on the most expensive thing you will probably ever own in your life, it is good to know that you are working with the best people you can. Working with Wells Fargo will allow a homeowner the chance to obtain the absolute best mortgage refinancing or modification options according to their financial positions. Wells Fargo takes pride in the fact that they are willing to work with you, regardless of your financal position, in order to help you stay in your home and not lose it to foreclosure or mortgage default.

When you refinance or modify your home loan, it is a very long and involved process. Due to this, you want to make sure that all of your paperwork, forms, and applications are properly filled out prior to applying with Wells Fargo for a home loan modification or refinancing. This helps ensure your application zips through due to it being complete and ready to go. This can save a lot of time and hassle when you are refinancing or modifying a home loan.

Wells Fargo also has specialists dedicated to helping homeowners refinance or modify their home loan that will take the time needed to help any homeowner find the correct plan to help them. Now more than ever is a great chance to save a lot of money, just form interest savings, every month. This money can be used to pay other debts down, and improve your standard of living. Speak with your Wells Fargo loan officer today and see just how much you could be saving.

-M Petrone
www.RefinancingCondo.com

Homeowners who want to get a 2% fixed rate mortgage through a home loan refinancing or modification. The “Making Home Affordable” plan from Obama makes this a reality. This is a $75 billion plan which will allow millions of homeowners the chance to get an affordable mortgage payment, and drastically reduce their interest rates. Here is how:

-New home loan and grant options are available to homeowners. These low interest loans and grants will help a homeowner pay off their other debts, and reduce their overall monthly payments.

-If you are a homeowner in any kind of “Financial Hardship” which can include, losing your job, reduction of income, high debts, a bad mortgage, or a whole list of other things, can now apply for a 2% Government backed mortgage refinancing or modification. The “Making Home Affordable” plan is what makes this happen, and it is from President Obama. If you want to use the financial hardship route, make sure you include a handwritten letter stating your “Financial Hardships” this will increase the chances of your mortgage refinance or modification approval.

-If a homeowner has debts, including the mortgage payment, that are more than 51% of their gross monthly income, they will have to attend free credit counseling offered by the Government. This is a condition if you want to get a fixed rate 2% home mortgage loan using this “Making Home Affordable” plan.

-If a home or property value has dropped by 15% or more since purchasing your home, you can use this Obama mortgage stimulus refinancing plan to their advantage and get the 2% fixed rate mortgage. A lot of people have experienced this, especially with the bad economy, and worse housing market.

This plan will be able to save homeowners all over the country a lot of money every month, or maybe even their home. Taking advantage of this plan is easier than ever, and should be done sooner rather than later. This is a great chance for a typical homeowner to get themselves an ultra low fixed rate 2% home loan. Use this plan, and see the savings start to quickly add up, by refinancing or loan modification.

Now is a great time to strengthen your financial future, save money every month, save a home from foreclosure, or all of the above.

-M Petrone
www.RefinancingCondo.com

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