Borrower had a interest rate of 7.375% with CHASE. Borrower went from a payment of $3,887.50 (PITI) to $2,483.78 (PITI) SAVING $1,403.72 per month that's $84,223.20 the borrower is saving in 5 years! The interest rate starts at 2% for the first 5 years and climbs to 1% every year until it caps at 4.375% for the remaining loan term.
6th Year (Old Payment) $3887.50 - $2,736.38 (New Payment) = $1,151.12
7th Year (Old Payment) $3887.50 - $3002.40 (New Payment) = $885.10
8th Year to 39th Year (Old Payment) $3887.50 - $3104.46 (New Payment) = $783.04
Check out the approval HERE
Thursday, October 21, 2010
Friday, October 15, 2010
Foreclosure Mortgage Mess...Might get Homeowners Free & Clear Houses!
Banks worse nightmare scenario is coming!
Thursday, October 14, 2010
The Housing Problem is getting bigger!
Again I hate it when I'm right! The housing problem is getting to the point where many States and City Governments can not afford to ignore any longer. Check out the stories below. The Foreclosure problem and lack of help from many "HUD" Agencies and Loan Modification Companies are not helping either. There is a lot of rumors flying around right now of the Obama Plan Version 2.0 and Countless State Homeowner Stabilization plans. only time will tell.
Watchdog: Treasury outsourced most bailout work -http://yhoo.it/dAVgfN
Banks seize 288K homes in Q3, but challenges await -http://yhoo.it/93lgu7
Thursday, October 7, 2010
Wells Fargo to Begin Offering Pick-A-Pay Relief
Wells Fargo has announced that beginning Dec. 18, 2010, through June 30, 2013, at-risk Wachovia Pick-a-Payment customers may be eligible to earn principal forgiveness by making on-time mortgage payments. The company also will contribute about $24 million to eight states to enlist help in customer outreach, and to prevent or mitigate the impacts of foreclosures in these communities. The terms of this agreement have been contemplated in the company’s financial projections, and are expected to have no impact on third-quarter financial results.
The program is part of an agreement with attorneys general in Arizona, Colorado, Florida, Illinois, Nevada, New Jersey, Texas and Washington who expressed concerns about the manner in which pay-option mortgages were originally marketed by World Savings Bank and Wachovia, who originated these loans prior to merging with Wells Fargo in late 2008. The agreement expands on Wells Fargo’s existing home
preservation efforts. Through August 2010, at-risk Wachovia Pick-a-Payment customers already had been given almost $3.4 billion in principal forgiveness.
If you need help with a Loan Modification, Short Sale, Refinance or Purchase contact us at
Click on the link for the full article http://bit.ly/aELmHo
The program is part of an agreement with attorneys general in Arizona, Colorado, Florida, Illinois, Nevada, New Jersey, Texas and Washington who expressed concerns about the manner in which pay-option mortgages were originally marketed by World Savings Bank and Wachovia, who originated these loans prior to merging with Wells Fargo in late 2008. The agreement expands on Wells Fargo’s existing home
preservation efforts. Through August 2010, at-risk Wachovia Pick-a-Payment customers already had been given almost $3.4 billion in principal forgiveness.
If you need help with a Loan Modification, Short Sale, Refinance or Purchase contact us at
Click on the link for the full article http://bit.ly/aELmHo
Obama won't sign bill that would affect foreclosure proceedings
Amid growing furor over the legitimacy of foreclosure proceedings, White House officials said Thursday that President Obama will not sign a two-page bill passed by lawmakers without public debate after critics said the legislation could loosen standards for foreclosure documents.
The bill, named the Interstate Recognition of Notarizations Act, would require courts to accept document notarizations made out of state. Its sponsors intended the effort to promote interstate commerce. But homeowner advocates warn the new law could allow lenders to cut even more corners as they seek to evict homeowners.
Obama won't sign bill that would affect foreclosure proceedings
The bill, named the Interstate Recognition of Notarizations Act, would require courts to accept document notarizations made out of state. Its sponsors intended the effort to promote interstate commerce. But homeowner advocates warn the new law could allow lenders to cut even more corners as they seek to evict homeowners.
Obama won't sign bill that would affect foreclosure proceedings
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