Outlined in this new program is a requirement that home loans must be refinanced if the homeowners owe more than 140 percent of the value of their home.
Entries Tagged as 'Refinancing'
Obama Proposes Mandatory Refinancing for Underwater Home Loans
February 1st, 2012 · No Comments · Mortgages
Tags: banks·Home Affordable Refinancing Program·home loan·home loans·homeowners·Mortgage·Obama·refinance·Refinancing·underwater
Freddie Mac Turns to YouTube With Message on Loan Modification Programs
July 17th, 2009 · 1 Comment · Mortgages, Real Estate
Freddie Mac has a new private channel on YouTube.com, the feature presentation being a short video which shows step-by-step which documents borrowers should have on hand when they call their servicer to discuss potential loan modifications. The two minute video, entitled, “Stop Foreclosure: Documents Your Lender Needs to Help You,” is available in both English [...]
Tags: Freddie Mac·Freddie Mac video·loan modification·loan restructuring·loan workout initiatives·making home affordable program·Mortgage·Refinancing·stop foreclosure
Restructuring Mortgage Programs For Underwater, Subprime and Jumbo Loans
May 28th, 2009 · 2 Comments · Mortgages
The “Making Homes Affordable” Program introduced by the Obama administration is not limited to Fannie and Freddie Mac loans, also known as conventional or conforming loans . There are actually two sets of loan programs under the Making Homes Affordable (MHA) program. One program is called Home Affordable Refinance, and is for conforming loans on [...]
Tags: conforming·Fannie Mae·Freddie Mac·loan restructuring·Loans·Making Homes Affordable·Mortgage·Refinancing
Debt-to-Income Ratios (DTIs) for Dummies
March 27th, 2009 · 1 Comment · Mortgages
With all the recent government programs available to homeowner’s facing potential foreclosure, understanding debt-to-income ratio is more important than ever, as lenders will be utilizing this parameter to determine your eligibility. Debt-to-income ratio is a simple formula, calculated based on several key elements of a homeowner’s incoming salary versus outgoing expenses. There are two different [...]
Tags: debt ratios·debt-to-income ratio·DTI·foreclosure·loan modification programs·Mortgages·reduce house payment·Refinancing
