Goldman charged with fraud over Paulson CDO trade - MarketWatch

Subprime mortgages back in the news!

Also interest rates are climbing still.....Refinance or modify now to avoid the Inflation spike to Interest Rates down the road.

Feel free to contact me with any questions and to see how WE can save you some money refionce@gmail.com or 800-208-4753


Goldman charged with fraud over Paulson CDO trade - MarketWatch

Check out this need - Rate my New Article on MiNeeds!

Check out this need - Rate my New Article on MiNeeds!

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Obama announces expanded mortgage modification plan - Mar. 26, 2010

Program will help out Borrowers that are unemployed and also direct the banks to cut balances on borrowers who are underwater. Balances are also being looked to be cut
by Bank of America on a certain number of mortgages.


Obama announces expanded mortgage modification plan - Mar. 26, 2010


Feel free to contact me with any questions you may have 800-208-4753 Office or refionce@gmail.com

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

UPDATE!!!! Here is the Paperwork from the SUNTRUST APPROVAL

The proof is right here! Here is the actual approval

Click here: http://www.mediafire.com/file/dmfo5jyqgdi/APPROVAL SUNTRUST0001.pdf

Don't lose your home to foreclosure Call today or email me to get started
800-208-4753 Office or dreyes@gmail.com

Banks taking 229 days to sell properties!

Time to Foreclose has increased from 146 days in August 2008 to 229 days in January 2010 as lenders have increasingly delayed foreclosures while working through loan modifications and other foreclosure alternatives and moratoriums. Check out the full report here: http://www.mediafire.com/file/d0mndz2zmjm/January+2010+CA+Foreclosure+Report.pdf

 Today's interest rate is at 4.875% 30 Year Fix with 0 points charged to you!

Call today to get started 800-208-4753 Office or email me at dreyes@gmail.com

NEW APPROVAL!!! SUNTRUST MORTGAGE!

Sorry I have been really busy with loans and also Loan Modifications!

This new approval is from SUNTRUST Mortgage below are the old terms and new terms!
This client had an adjustable interest rate and also interest only loan.  He is a teacher that is not working full time
and his wife just took off of work due to a difficult pregnancy.  They were 6 months behind and were living paycheck to paycheck.
Call me with any questions you may have 800-208-4753 Office or dreyes@gmail.com

OLD TERMS ON MORTGAGE


6.875% Interest Rate ADJUSTABLE RATE
30 Years
Interest Only
$1,364.82 * pmt. included taxes and insurance

NEW TERMS ON MORTGAGE

4.00% Interest Rate
40 Years Fixed
Principal, Interest, Taxes and Insurance
$1,068.69 *once again includes principal, interest, taxes and insurance.


First Payment is April 1, 2010 and they are now up to date on their delinquent mortgage payments.
The client is saving $296.13 per month that's $142,142.40 for the life of the loan!


Call me with any questions you may have 800-208-4753 Office or dreyes@gmail.com

Another Approval This time it's GREENTREE

Just finished going over the loan modification numbers with the Rep from GREEN TREE and the client is going from a payment of $3,226.61 (P.I.T.I)* to $2,687.12 (P.I.T.I)* for the next 5 years that's a monthly savings of $539.49 per month or $32,369.40 after 5 years!!!Once i receive the actual approval from the lender which i should be getting within a month I will post it!

OLD RATE ----5.70%
NEW RATE ----2.875%
AFTER 5 YEARS INTEREST RATE GOES UP 1% EACH YEAR UNTIL IT HITS THE CAP OF 5.10% 


Feel free to contact me with any questions you may have at anytime! 800-208-4753 Office or email me at refionce@gmail.com

Chase Time Guideline changes for Income Documents on Loan Modifications

Just spoke to someone at Chase and they are now allowing Pay-stub's for up to 90 days old and also  bank statements of up to 60 days old.  After your loan modification request is completely submitted the Underwriting Team is taking 30 to 60 days to complete the Loan Modification.  From what I have seen both Chase and CITI-Mortgage are getting faster with their turn times!

Feel free to contact me with any questions 800-208-4753 Office or dreyes@gmail.com

Interest Rate Report for December 9, 2009

Commentary & News:
2:00 pm ET: Cooler heads help market to recover as the DOW remains in negative territory.

1:15 pm ET: Bond prices fell in FAST trade this afternoon driving mortgage rates higher. Prices shot lower following the announcement from the Treasury that foreign accounts did not purchase as much of the 10-year offering as the previous auction. Despite the fact that the participation from overseas accounts was better than average, we initially got clobbered. Like they say in the mortgage business, you are only as good as your last deal. Lets hope cooler heads help prices to recover.

10:00 am ET, Lenders set pricing

Mortgage bond prices opened lower Wednesday morning adding to the losses seen Tuesday afternoon. Bond prices came under pressure early in the day when stock futures were positive, however, despite the DOW Jones index opening lower, rates did not recover. This is a sign the market is concerned over the auction this afternoon.

The only event on tap today is the Treasury auction of $21B ($21,000,000,000) in 10-year notes. Yesterday’s 3-year auction was good, however, sometimes good is not good enough. Indirect bidder participation, an indication of foreign demand for US debt was slightly below expectations, which caused a knee-jerk reaction driving rates higher. Be careful as the day progresses, rates often come under pressure as traders prepare for the additional supply. Auction results are expected by 1:15 pm ET.

Traders will spend the day watching stocks. If stocks move higher, rates will suffer. At pricing the DOW was near unchanged.

Good News Rates are still at historical lows CALL TODAY to lock in your rate no matter if you are Refinancing or Buying a new home it's time to do so!

800-208-4753 OFFICE, 866-610-1514 FAX, 909-631-7530 CELL, DREYES@GMAIL.COM

Modifications and what you need to know your bank is going to ask from you

Loan Modifications are getting approved everyday but I want to take this time and remind people and also educate you on what your bank will ask from you and how the process works.

First thing first the loan modification process will test your patience! Banks right now are so behind on requests for loan modifications. That said the process can take anywhere between 3 months or more than 1 year depending on your situation...

Remember that banks will ask for:

1. Complete tax returns for at least 2 years
2. 1 to 2 months of bank statements
3. 1 to 2 months of pay-stubs
4. Signed hardship letter explaining your financial hardship.
5. Monthly Break down of your Revolving Debt and Living Expenses.
6. W2 for the last 2 years.

If your a self employed Person they will ask for a lot more! (Email me) and I will send you a list!

What gets Homeowners denied is that your bank is going underwrite this loan modification request as if you were buying the home so they will analyze your financial picture. All banks have different Guidelines they will look over and some banks will do a loan modification if you have no money left over on your budget and some request a Net Plus of income to approve a loan modification. I know it's confusing but that's how the banks work.

I would advise anybody that you can do this on your own----but if you do not have the time to follow up sometimes (DAILY but many times weekly) OR get the the requested Documents banks may ask in a timely manner than hire someone to do it for you. In most cases you do not need an attorney to do this! Only if you have proof that you have been wronged when you received your loan or feel you the bank has broken laws when you received the loan would i say to go and hire an attorney! I have successfully done many modifications to state this.

Hope this helped! Remember! Don't Give up and If you need help feel free to contact me with any questions you may have! 800-208-4753 OFFICE OR REFIONCE@GMAIL.COM

ASK ABOUT OUR HOLIDAY SPECIAL! NO UPFRONT FEES CHARGED UNTIL THE LOAN MODIFICATION IS APPROVED!