Loan mods rock, check em out, even if your are current on your mortgage

Auriton Solutions supports the Homeowner’s HOPE(TM) Hotline (1-888-995-HOPE) by providing HUD-approved Hotline counselors who offer free housing counseling, guidance, advice and assistance to thousands of homeowners every day. We help homeowners avoid foreclosure. If you are facing foreclosure, call 1-888-995-HOPE for free today.

Learn your options for stopping foreclosure on your Battle Creek house. Tips and traps from Michigan’s #1 Foreclosure Solution & Short Sale Team. For much more, check out www.howtostopmichiganforeclosure.com Whether you are trying to avoid forclosure in Battle Creek, Springfield, Pennfield, East Leroy, Urbandale, Marshall (or any other part of Calhoun County), this video will help you. Are you in any of these situations? This is a must-see video! Bankruptcy Help With Foreclosure Laws Foreclosure Behind On Payments Bill Collecting Forclosure Pick Foreclosure Attorney Lawyer Need Payment Assistance Collections Want Mortgage Assistance Programs

President Barack Obama’s new mortgage relief plan, unveiled recently, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. Still however, the million dollar question continues to linger in the minds of many homeowners. “Will it help me?” Obama’s “Making Home Affordable” program is designed to work with lenders to modify the loan terms for up to 4 million homeowners and to refinance up to 5 million homeowners into more affordable fixed-rate loans. Here are some questions and answers about the latest round of aid for homeowners. A: How do I know if I qualify for the refinancing plan? Q: Only homeowners in good standing whose loans are held by Fannie Mae or Freddie Mac qualify. The property must be owner-occupied and the borrower must have enough income to make payments on the new mortgage debt. Borrowers can’t owe more than 105 percent of their home’s current value on their first mortgage. For example, if your home is worth $200,000, your first mortgage can’t exceed $210,000. Borrowers with a second mortgage still can qualify as long as their first mortgage isn’t more than 105 percent of their home’s value. Homeowners can’t take cash out during the refinancing to pay other debt. Borrowers have until June 2010 to apply for the program. Q: How do I know if my mortgage is owned by Fannie Mae or Freddie Mac? A: Call your current lender or mortgage servicer. You can find the phone number on your monthly mortgage statement or coupon book. You can also contact Fannie Mae at 1-800-7FANNIE and Freddie Mac at 1-800-FREDDIE from 8 a.m. to 8 p.m. EST. Or, go to http://www.fanniemae.com/homeaffordable and http://www.freddiemac.com/avoidforeclosure and fill out the online request forms. Q: What borrowers qualify for the modification program? A: You don’t have to be behind on your mortgage payments to qualify. Delinquent borrowers and current borrowers who are at risk of imminent default are both eligible. The program applies to mortgages made on Jan. 1 or earlier. The mortgage payment including taxes, insurance and homeowners association dues must exceed 31 percent of the borrowers’ gross monthly income. The property must be the homeowner’s primary residence. It can’t be investor-owned, vacant or condemned. Home loans for single-family properties that are worth more than $759,750 don’t qualify. The program is voluntary, relying on a $75 billion subsidy to encourage mortgage companies to participate. Lenders must agree to reduce the loan payments to 38 percent of a borrower’s monthly income. After that, the government and lender split the cost of bringing the payment down to 31 percent. Eligible borrowers will have to provide their most recent tax return and two pay stubs, as well as an “affidavit of financial hardship” to qualify for the loan modification program. In the affidavit, applicants will have to cite the reasons behind their financial woes, such as job loss or a drop in income. The government will then take steps to verify the information. Borrowers are only allowed to have their loans modified once. The program runs through Dec. 31, 2012. Q: What if I’m in bankruptcy or in active litigation over my mortgage? A: That doesn’t necessarily keep you from qualifying for the modification program. And borrowers in active litigation can modify their home loans without waiving their legal rights. Q: What do I do to get help? A: For the modification program, call your lender or mortgage servicer to see if you’re eligible. For the refinance program, first find out if your mortgage is held by Fannie Mae or Freddie Mac. Then contact your lender, mortgage servicer or a mortgage broker for refinancing options. Q: How soon can I get help? A: Both the modification and refinancing programs start immediately. Q: What if I don’t qualify for either program – is there any other way to get help with a mortgage? A: Contact your lender or mortgage servicer regarding other modification programs or refinance options. Alternatively, contact a local housing counselor to negotiate with your lender or servicer, to help locate other local resources like rescue grants or loans, or to facilitate a short sale or deed-in-lieu of foreclosure if staying in the home isn’t possible. A short sale is where homeowners sell houses for less than the amount owed on them, and the lender then considers the debt paid off. A deed-in-lieu of foreclosure is where the borrower gives the property to the lender to satisfy a delinquent loan and to avoid foreclosure proceedings. Local housing counselors can be found at the U.S. Department of Housing and Urban Development’s Web site at http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm. Q: Do FHA, VA or USDA home loans qualify for modifications under the Obama Loan Modification Plan? A: Mortgages backed by the Federal Housing Administration, Veterans Administration or the U.S. Department of Agriculture are being modified under other programs. The Obama Administration and Congress are working on legislation that would allow modifications of these home loans consistent with the Making Home Affordable program.

If you are having problems in paying your mortgage you are not alone. Problems paying your mortgage is not uncommon and there could be many reasons why you may have been faced with this. In all corners of the globe there are in fact millions of people who are suffering from this exact same problem. It could have been caused from simply being laid off but more than likely it was caused due to irresponsible lenders, but foreclosures are big in the news right now.

Mortgage rates are currently near record lows. Combine that with new mortgage refinancing options available from Obamas stimulus plan and millions of people can benefit from refinancing a mortgage. Here is some advice for homeowners looking to refinance a home loan with Obamas stimulus program. President Obamas stimulus plan is backed by over $75 billion in funding. This money makes getting help refinancing a mortgage in all types of financial problems easier than ever before. This money is going to be given to selected mortgage lenders and banks who follow Obamas guidelines and approve homeowners for a mortgage refinancing. The money enables mortgage lenders and banks to take more risk and approve more homeowners than ever before. Never before has such a massive program been enabled that can help so many people. The goal of this stimulus program is to get homeowners an affordable monthly mortgage payment. The stimulus plan calls for a homeowner to not have to pay more than 31% of their gross monthly income to their mortgage payment. The thought behind this stimulus plan is that if a homeowner can actually make their payments, they will, and avoid foreclosure and defaulting on their mortgage. Homeowners with bad credit, an upside down mortgage, or other financial problems can now easily get help refinancing a home loan. Even homeowners who have been turned down in the past can get help from Obamas stimulus plan. Homeowners all across the country can benefit from this program, save money, secure their future finances, or save their home from being lost. Do not let your home be lost. Take action now and use President Obamas stimulus program for yourself and save money. Contact a mortgage lender or bank and ask about how you can benefit from refinancing a mortgage with Obamas stimulus program.

How to beat foreclosure and save your financial health www.stopnotknowing.com

There are many possibilities when you enter into the exciting world of real estate. Others may find countless opportunities to revel about. However there are also others who encounter stressful circumstances such as the possibility of losing their properties to foreclosure. This is most likely to happen in an economy that is extremely fluctuating and the crisis constantly occurring. It is good news however that despite your pending chances of foreclosing the property, there are imminent alternatives to help you get back on your feet. It is common misconception that lenders are the perpetrators in this scenario thus borrowers tend to avoid them whenever they feel that they cannot make it to their monthly payment dues. The truth is that lenders are very much willing to help you with your financial and payment concerns because after all, they are the ones who are bound to experience great losses whenever their borrowers default on their home loan. Hence, always keep a transparent and open communication with your bank or mortgage provider in order to not worsen the situation. One of the many opportunities you get when you promptly tell your lender about your problem is that you may negotiate some viable alternatives to remedy the dilemma. Your loan provider may even go the extra mile and give you assistance in obtaining a new home equity loan from the Housing Urban Development or HUD. You may have an interest-free loan that is quite affordable given your tight budget. This will definitely help in making sure that you keep your payments current to avoid anymore foreclosure issues. Modification of mortgage is another wonderful option for those who are qualified for the alternative. There are many features and possibilities within this option that borrowers may choose from. You may negotiate with your mortgage provider on the reduction of the rate of your monthly payment. This ensures that you pay your dues because it is already made within your affordable reach. Others opted to have their mortgage loan terms extended to a given period of time. Hence instead of paying their loan for say ten years, they may renegotiate to make it a 15-20 year loan term. This also means lower payment rate which they can afford to ensure that their payment stays up-to-date. Another cost-efficient alternative for pending foreclosed properties is when the home owners negotiates with the bank or lender and go for a special forbearance option. In this type of term, the lender will give the borrower a forbearance period when his debt or loan is temporarily stopped or suspended. He may only continue to comply with his mortgage obligations after the end of the forbearance period. This time, he is required to pay the lump sum amount or prefer to have a repayment plan. The payment will cover all the suspended or stopped amount during the time when his loan was forbore. Foreclosure alternatives give you the light at the end of a dark tunnel in your real estate investment ventures. You do not necessarily need to suffer the consequences of losing your home to this scheme if you know how and what to do.