Great Article on Loan Modifications! Pretty much will answer many questions homeowners have when thinking about
doing a loan modification!
Persistence Pays Off When Loan Modification Saves House and Credit - washingtonpost.com
Friday, October 23, 2009
Thursday, October 22, 2009
10 YEAR BOND
Last couple of days we have seen the bond move up yet we still have interest rates at historical lows 4.50% to 5.00% fix for 30 years. Just finished with another client who got 4.875% at 30 year fix and they cashed out $40,000.00! So if you are still in the market to refinance or buy a new home it's a good time to do so!
Remember don't worry if you do not have equity you can still Modify your home loan and take advantage of the low interest rates! I would not hesitate since I would remind you that this will not last forever! Feel free to contact me 800-208-4753 Office or dreyes@refionce.com
Remember don't worry if you do not have equity you can still Modify your home loan and take advantage of the low interest rates! I would not hesitate since I would remind you that this will not last forever! Feel free to contact me 800-208-4753 Office or dreyes@refionce.com
Friday, October 2, 2009
The Next Major Crisis Brewing -
In short the link below states what I have been saying for the last year. We should see higher interest rates by next year. Since the FED will have to raise the yields across the board to have the major buyers of Treasury's come back into buying them! Read below Great Article!
Interest Rates are in the 4%'s for a 30 year fix loan, 20 year and 10 year loans. and the 10 year bond is at 3.21% as of 8:00 a,m. California time. I would refinance (If you can) to a lower rate and Cash out for a rainy day fund or if your in the market to buy I would do so now since when Interest Rates go up so will your mortgage payment if you buy down the line!
The Next Major Crisis Brewing -- Seeking Alpha
Shared via AddThis
Interest Rates are in the 4%'s for a 30 year fix loan, 20 year and 10 year loans. and the 10 year bond is at 3.21% as of 8:00 a,m. California time. I would refinance (If you can) to a lower rate and Cash out for a rainy day fund or if your in the market to buy I would do so now since when Interest Rates go up so will your mortgage payment if you buy down the line!
The Next Major Crisis Brewing -- Seeking Alpha
Shared via AddThis
Thursday, October 1, 2009
ANOTHER APPROVAL THIS TIME GREENTREE
WOW THAT'S ALL I CAN SAY! This is by far one of the best modification approvals I have seen! Feel free to give me a call at anytime 800-208-4753 Office or dreyes@refionce.com
OLD LOAN TERMS
$548,500.00 LOAN AMOUNT
8.725% INTEREST RATE
6 MONTHS DELINQUENT
$3,988.05 PRINCIPAL AND INTEREST
$988.90 TAXES AND INSURANCE
$4,976.95 TOTAL PAYMENT (PRINCIPAL, INTEREST, TAXES, INSURANCE)
NEW LOAN TERMS
$398,177.08 NEW MODIFIED PRINCIPAL BALANCE
5.04$ INTEREST RATE
THE BANK IS SETTING THE ACCOUNT TO CURRENT FORGIVING ALL LATE PMTS. AND LATE FEES!
$2,213.77 NEW PRINCIPAL AND INTEREST PAYMENT
$988.90 TAXES AND INSURANCE
$3,202.67 TOTAL PAYMENT (PRINCIPAL, INTEREST, TAXES, INSURANCE)
TOTAL SAVINGS PER MONTH OF $1,774.28 AND BALANCE REDUCTION OF $150,322.00
OLD LOAN TERMS
$548,500.00 LOAN AMOUNT
8.725% INTEREST RATE
6 MONTHS DELINQUENT
$3,988.05 PRINCIPAL AND INTEREST
$988.90 TAXES AND INSURANCE
$4,976.95 TOTAL PAYMENT (PRINCIPAL, INTEREST, TAXES, INSURANCE)
NEW LOAN TERMS
$398,177.08 NEW MODIFIED PRINCIPAL BALANCE
5.04$ INTEREST RATE
THE BANK IS SETTING THE ACCOUNT TO CURRENT FORGIVING ALL LATE PMTS. AND LATE FEES!
$2,213.77 NEW PRINCIPAL AND INTEREST PAYMENT
$988.90 TAXES AND INSURANCE
$3,202.67 TOTAL PAYMENT (PRINCIPAL, INTEREST, TAXES, INSURANCE)
TOTAL SAVINGS PER MONTH OF $1,774.28 AND BALANCE REDUCTION OF $150,322.00
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