We’ve got some exciting news about the new government

125% Making Home Affordable Plan.

Starting now, millions of Americans may be eligible for refinancing or loan modification. This is a temporary government program and it is important that you speak with a mortgage banker right away to find out which program you may qualify for.

If you are one of the millions of mortgage holders that have made your mortgage payments on time, then this new government plan is great for you.

Refi-Plus and Freddie Relief streamline refinancing can now help several million homeowners refinance to a lower fixed rate and payment.  Even if previously you couldn't qualify because of low home value or lack of equity. Most importantly, lower credit scores may now be eligible.

 Home Affordable Program

The Home Affordable Program is designed for homeowners who pay their mortgage on time but are not able to refinance because they have little or no equity in their home.

You must meet the following criteria to qualify for the Home Affordable Program:

   1. Your current loan must have been sold to Fannie Mae or Freddie Mac.  To find out, contact your current loan servicer or visit: http://www.makinghomeaffordable.gov/loan_lookup.html

   2. During the last 12 months, all of your mortgage payments must have been made within 30 days of the due date.

   3. Your new loan amount may not exceed 125% of the current appraised value of your home.

   4. Your existing loan can not have Mortgage Insurance.

Frequently Asked Questions

If I have a first and a second mortgage, do I still qualify?

A. As long as the balance due on the first mortgage is less than 125% of the value of the home, you may qualify.  The lender on the second would have to agree to subordinate their loan to the new first mortgage, thereby remaining in second position.

Can I get cash out to pay off debts?

A. No.  However, provided the new loan amount will not exceed 125% of the value of the home, you may include all closing costs in the new loan so you don’t have to come out of pocket with any cash.

If I’m delinquent on my mortgage, will I still qualify?

A. No.  Borrowers who are currently delinquent on their mortgage should contact their current lender/servicer and ask about a loan modification.

Will I need mortgage insurance?

A. If your existing loan does not have private mortgage insurance, it will not be required as part of your Home Affordable refinance. If your existing loan has private mortgage insurance, you will need to contact your existing lender to facilitate your new refinance.

How long will the Home Affordable Program be available?

A. The program expires on June 10, 2010.  Your refinance transaction must be closed and funded on or before that date.

You can refinance to a low bank rate even if you are upside down and your mortgage balance is up to 125% of the value of your home. At least your month payment can be a lot less.

HERE’S HOW IT WORKS: The message of the plan is clear. The government wants American homeowners to take advantage of the historical low mortgage rates. If fact, 2/3 of the money the government dedicated to keeping rates low has already been spent. At this point, waiting any longer can cost you money.

We’ll work with you to determine your home’s value, your equity and what kind of new loan you’ll need.

This is fantastic news for nearly 5 million people who couldn't previously refinance under traditional guidelines. It’s that simple.

Contact your mortgage banker today to get the answers you’re looking for and take advantage of our safe and secure long term financing.

The plan is here and the message is clear. Now is the time to refinance and take advantage of historically low interest rates.

Millions of folks will benefit from a lower mortgage payment. Why not you?

Call us today and we’ll get started helping you right away.

All the Elements Indicate Interest Rates will be Increasing Soon.

Don't Miss Out! -- Call Today!