To Refinance or Modify???

Are you thinking about refinancing or a modification of your loan before you do take into account a few things.

1. When you last refinance did you show any financial documents (w2, Tax Returns) Pay stubs)?
2. Did you have any equity left over after the last refinance?
3. Are you late on your mortgage(s) or have been late in the last few months?

If you answered NO to say questions 1 and 2 then you can't refinance and will have to modify your home loan. If you had equity left over and did show financial documents to prove your income and have not been late in the last 12 months then you may want to look into refinancing!

The good news about doing a modification is that more then likely you can secure a better interest rate then doing a refinance. Since Refinance loans are still tied to what the banks are offering per their guidelines then say a modification where they have more room to play with. The bad news that you will have to wait at least 3 to 6 months to get it done and that's if you qualify!

The trick to an approval on a modification is doing right the first time so you won't be having to re-apply again down the road! If you don't know much about the real estate market and mortgages then hire a real estate lawyer and save some time and headaches!

Here is where I work with www.lossmitigationsetup.com it's a law firm that takes care of the modification process from start to finish and guarantee's you a modification or you get the "fee" charged returned in full! Call me at 800-208-4753 or email me at refionce@gmail.com if you have any questions! Follow me at http://twitter.com/refionce

Thanks to FED CHAIRMAN 10 year bond tanked!! Lower Rates here we come!!

Treasurys rally as Bernanke stresses low inflation - MarketWatch

Call or email me with any questions you may have ask about our Refi or loan modification Specials!!! refionce@gmail.com or 800-208-4753 Follow me at http://twitter.com/refionce

Posted using ShareThis

Flat day for 10 year Bond

The 10 year bond was pretty much quiet...As of right now the bond is at 3.61% which will more then likely keep the interest rates close to 5% for a 30 year fix loan.

Keep in mind that most banks right now are taking 30 days plus to get the loan through processing. If you need some help with either refinance or modification on your home loan you may email me or call! Have a great day...

800-208-4753 or refionce@gmail.com

You can see Foreclosure Listings for Free!

Bonds going back down...

If you need help doing a refinance or wanting to secure a loan to purchase a new home this is a good time to start the loan approval process!


Call me today 30 year fix interest rates are at 5.25% ! Call today 800-208-4753 !

Rates are moving up FAST

I hate it when I'm right.....sometimes I have been telling everyone who has been interested in buying and refinancing that they would need to do something quick since interest rates move fast and now we are at 5.50% to 5.625% for a 30 year fix and maybe we will see 6.00% to 6.25% by the end of June or July!

What I'm hoping is that we will see a downturn by the end of summer but who knows! The Federal Reserve i believe is kind of stuck they can't play the were buying all the bonds to keep rates down game for too long! Google China & 10 year bond and you will see that they are asking the Federal Reserve to stop from keeping printing more and more money and buying bonds with it! Or hoping that the Chinese are going to keep buying Our bonds.....

My advise to you would be if your looking to refinance Get your broker or bank to get you approved and then wait for the rate to go down but first remember get yourself approved since if you wait for the rate to go down and then get approved you might miss that low rate since you will not be able to lock in the interest rate if your not approved! and many times banks are taking 30 to 45 days to secure an approval!

Buying a home still makes sense...Prices are really low....Feel free to give a call or email me at anytime! 951-943-2919 or refionce@gmail.com

Bonds still have more room to go!

I would say we still have some ways to go on the bond! I don't how especially with all the bad economic news....I would think of it like a warm up of what will be our reality down the road and that's double digit interest rates. Inflation plus lack of credit will be painful for the credit worthy consumers. My advice would be to refinance now and use some of the equity you still have and invest it on something in either real estate or stocks since this painful downturn will come and go! Good Luck! 4.875% 30 Year Fix is today's rate on 85% LOAN TO VALUE WITH CASH-OUT!

Bonds moving up!!!!!!!!!!!!!!!

Just finished a conference call with some banks and some bankers. Rates are moving up and could be going up even more if bonds keep doing what they have been doing the last 2 weeks! 30 year rates is 4.875% from the 4.50%. What everyone is chatting about is the job report tomorrow and also what the FED is going to say about any inflation worries down the road..... Call me 800-208-4753 or email me refionce@gmail.com if you need questions answered.

Guideline changes No more Broker - Appraisal Ordering

Beginning in May Lenders are not allowing Brokers to setup up Appraisal's directly with an appraisal company of their choice! If your wondering why? The reasons are many but it's mostly been done since many appraisers were surveyed and many stated they were pressured to "bring" in the value at certain numbers sometimes! In my professional opinion I think the move is a "dollar short and a day late" the economy has already pretty much done what a lot of us in the business wanted...take out the shady and "here today gone tomorrow" part time professionals! What this will do is hopefully keep the process flowing and hope it does not add more weeks to the Underwriting process which is about 3 to 4 weeks out in many banks! even for Good to Great Credit Borrowers! Like always shoot me an email or call at anytime with any questions you may have Take care! refionce@gmail.com or 951-943-2919 Office

Guideline Changes!!!

A lot of banks are now only lending up to 85% on your current value when you want to Cash out! Also starting on May 1, 2009 many banks are going to start to having everyone order their appraisals through a management company who then will assign an appraisal Company to do the report! This will be mostly done on Conventional loans.....but you never know maybe it will also be done on FHA loans in the near future. The reason for this move if this is the fist time you hear about the appraisal ordering change was to stop appraisers get pressured from Brokers, Account Executives from bring in the values higher. With the slow down in the real estate market I do not see that as much! but you still have pockets of areas that are seeing an improvement in values! Were still currently seeing interest rates in the high 4's so like always it is a very good time to refinance or to purchase! Any questions can be directed to me at refionce@gmail.com or a phone call at 800-208-4753 will also work! Take care!

Interest Rates are falling again!!

Interest rates are low again anywhere between 4.75% to 4.875% for a 30 year fix!
Remember that interest rates move and down so you need to move fast and lock in

Now for what I see happening with the mortgage market. We are seeing a lot of wholesale lenders being really picky on who they want to lend too. FHA is probably the way to go if your high on your Loan to Value since your still seeing lending up to 95%!!! What I don't like is that values keeping falling and that's a problem! We need to fix fast to start seeing the economy as a whole improve. Since i believe a lot of people are not buying since values keep going down and lenders are less wanting to lend on. What most is killing everyone right now at the end of the day is fear....fear of not knowing where we are going either forward or backwards? No one knows but if history has taught us anything and that is we are going to come out of this a better country!

Here's Today's Mortgage Dust!!!

Now that we have 700 Billion Dollars going to WallStreet it's going to be interesting to see what it does for the overall economy. What is going to happen in the coming year will be higher interest rates & a stop to dropping home values in some areas of the country.

Please remember that with all this money going into the system at once it not only gives us a bigger deficit which will only increase our inflation rate down the road. My point is that with everything were all "Consumers" at the end of the day!

I decided to start this blog to help average consumers with any questions you may have about the mortgage industry. Feel free to email me at refionce@gmail.com or call 800-208-4753 visit also www.lowerrateexchange.com with any questions you may have.

As you will see i will show you different ways to either refinance, modify, or sell your home.

Take care.