New Approval -CITI Mortgage 2nd Mortgage loan

Just got a new approval from CITI MORTGAGE on a 2nd Mortgage.  Borrower was behind 6 months. Borrower is now current and the bank forgave the late payments.  CLICK HERE FOR APPROVAL

OLD TERM

$99,600.00 Loan Amount
11.360% Interest Rate
$974.95 Principal & Interest Payment


NEW TERM

$98,068.20 Loan Amount
0% Interest Rate
$400.00 Payment


Client is saving over $100,000.00 in interest alone! Feel free to contact me with any questions you may have at 800-208-4753 OFFICE or refionce@gmail.com

End of Home-Buyer Programs May Delay Housing Recovery - Yahoo! News

Hopefully interest rates don't go up to high! Currently interest rates are at 5.00% for a 30 Year Fix, 4.50% for 15 or 20 Year Fix. Feel free to contact me at 800-208-4753 Office or dreyes@refionce.com

End of Home-Buyer Programs May Delay Housing Recovery - Yahoo! News

Bank of America to Offer Principal Reduction to Underwater Borrowers

Bank of America has announced it will make principal forgiveness– ahead of an interest rate reduction – the initial consideration toward modifying certain subprime, Pay-Option and prime two-year hybrid mortgages qualifying for its National Homeownership Retention Program (NHRP). An interest rate reduction and other steps would then be considered, if additional savings are necessary to reach the 31 percent debt to income targeted payment.

Under the plan BOA will forgive up to 30 percent of the mortgage loan balance in two stages, but with a quid pro quo from the homeowner. The bank will offer an interest-free forbearance of up to 30 percent of the principal balance for five years. If the homeowner stays current on mortgage payments for the period of time, then the amount will be forgiven. On paper, at least, that forgiveness will allow the homeowner to return his loan to an LTV of 100 percent.

Barbara Desoer, president of Bank of America Home Loans says, "Bank of America has found that many homeowners who owe considerably more on their mortgages than their homes are worth are reluctant to accept a solution that addresses only the amount of the payment without an accompanying reduction in the balance due on the loan."

Feel free to contact me at 800-208-4753 OFFICE OR dreyes@gmail.com for more information.

Obama administration to order lenders to cut mortgage payments for jobless - washingtonpost.com

Obama administration to order lenders to cut mortgage payments for jobless - washingtonpost.com

Foreclosure Search! Great time to buy Great Rates and Prices!

30 Year Fix 5.00% ----0 Points at closing!

30 Year Fix @ 5.00%


15 Year Fix @ 4.50% 


$100.00 Gasoline Card at closing!!!


Call 800-208-4753 or email me at dreyes@gmail.com for more information!

NEW APPROVAL SPS Portfolio 2.00% Fixed for 5 Years!

Below is the old terms and the new terms of the loan modification approval from SPS.   This also is the

HAMP Program approval.  As you can see from the CLICK HERE FOR THE APPROVAL the interest rate is 2.00% for the first 5 years after that the interest rate goes up 1% every year until it reaches 5.00% for the life of the loan.  Feel free to contact me at 800-208-4753 OFFICE or dreyes@gmail.com.

OLD TERMS

552,692.00 -Loan Amount

5.75% - Interest Rate (Adjustable)

$3,343.68 (Principal, Interest, Taxes & Insurance)

5 months behind on mortgage.

NEW TERMS

$562,190.72 -New Loan Amount

2.00% - Interest Rate ( Fixed 5 years)

$2,545.10 (Principal, Interest, Taxes & Insurance)

Total savings for the first 5 years is $ 47,934.00, $6,519.24 6th year savings, $3,339.12 7th Year savings, $1,264.41 for the remaining term of loan.  Total saved $59,056.77

California's Cash Crunch - CNBC.com

I would watch this story very closely since if California fails on it's commitments I fear the economy could take a bigger nose dive and higher interest rates will follow FAST! 5.00% 30 Year Fix 0 Points! Feel free to contact me at 800-208-4753 or dreyes@gmail.com

Where does your state rank on Foreclosures?

Where does your state rank on Foreclosures?

FHFA Extends Refinance Program | RISMedia

Government Program is extended for Homeowners who have LITTLE to NO Equity! Click on the link below to read about it.

Contact me with any questions you may have 800-208-4753 OFFICE OR dreyes@gmail.com


FHFA Extends Refinance Program | RISMedia