How will the streamlined loan modification program for Fannie Mae and Freddie Mac work? This new mortgage bailout program will be set to begin on December 15, 2008. It will apply only to mortgages that are owned or guaranteed by Freddie Mac or Fannie Mae. A borrower who is 90 days delinquent will be eligible for a new mortgage with a monthly payment that does not exceed 38% of their gross monthly income. Proof of a hardship will need to be justified, jobless or illness etc. If you are not experiencing a loan default you will not be eligible for this mortgage bailout program. You do not need to be in a bankruptcy proceeding. This program is only available to primary residences. Second homes and investment property will not qualify for this program.
For more information you can call Hope Now at 888-995-4673.
If you are interested in a loan modification please call toll free 1-888-368-6668 for a new hassle loan modification review.
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Posted in Loan Modification Information
What should I do if I cannot pay all of my bills. According to Dave Ramsey you need to prioritize. The necessities need to come first. Food, Transportation and housing should be your top priorities. If you can’t pay your credit cards you may just need to let them go for now. You will find that your mortgage company will be alot easier to work with than your credit card company. Mortgage companies are taking extraordinary measures to work with you. In fact Fannie Mae has stopped eviction and foreclosure proceedings until Continue Reading »
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Posted in General Debt Articles
How do I get rid of credit card debt fast? Being in credit card debt can be a frustrating and scary experience. The over the limit fees and the late fees can get burdensome if not pushing you over the financial edge. If you have your back against the wall you do have a few options.
What Is The Quickest Way To Get Out Of Debt? Continue Reading »
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Posted in Credit Card Articles
