Loan Modification Attorneys Negotiate Home Mortgage Bailout - Foreclosure Assistance Plan - Real Estate Foreclosure Prevention Alternative To Fraud and Scams. RealEstateMarketingThisWeek.com Will Help You Survive The Mortgage Meltdown Crisis by Modifying Your Home Loan. Avoid Foreclosure and Bankruptcy. Get Your Bailout Today. At http You Can Claim Your FREE Copy of My Latest Report: "THE FORECLOSURE SHARKS: A Look At The Rampant Theft Of Americans' Homes Through Foreclosure 'Rescue' Scams", and While There Also Sign Up For a FREE Consultation With Our Approved Foreclosure Prevention Specialists. Go To RealEstateMarketingThisWeek.com and Complete Our Easy Form - It Takes 2 Minutes and Can Help You Save Your Home. http
http://leafgardenpress.com/ Loan Modification - Part 4: Home Mortgage Bailout - Real Estate Foreclosure Prevention Process
FILE - This June 25, 2008, file photo, shows the Countrywide Financial Corp. office in Beverly Hills, Calif. The former corporation, whose subprime loans helped start the nation���?�s foreclosure crisis, made hundreds of discount loans to buy influence ... Subprime lender Countrywide bought influence with Washington elite with ...
Do you have a home mortgage through Countrywide that is delinquent or near foreclosure? A Countrywide Loan Modification under President Obama's stimulus package may be just the answer to save your home.
The federal government is paying Countrywide and other approved lenders an incentive to rework home mortgages for qualified homeowners in financial distress, reducing their monthly mortgage obligation. To apply, certain guidelines must be met:
- The original loan must have been written on or before January 1, 2009.
- The amount of the loan must not exceed $ 729,750.
- The current house payment, including taxes, insurance, and homeowner dues, must be OVER 31% of the gross monthly income of the homeowner.
- The borrower's financial situation must reflect a marked decrease in income or increase in expenses that qualifies as a hardship situation: job loss, divorce, death of spouse, military service, medical bills, etc...This must be stated in a - - Hardship Letter to Countrywide and verified by the appropriate documents attached.
- The borrower must also present a black and white statement showing Countrywide how the new modified monthly payment will be quite affordable in the long term.
If you qualify for a Countrywide Loan Modification, what benefits could you expect? Most importantly, you would be given an opportunity to save your home from foreclosure.
You also would receive a lower monthly payment, less than 31% of your gross monthly income, achieved through one or all of the following means:- A reduced interest rate, as low as 2%, could be applied, which would remain in effect for five years, after which it would go up 1% a year until the current interest rate at the time of the loan modification is reached.
- An extended loan term, possibly 40 years, could be used.
- Countrywide may waive late fees.
- Countrywide may actually reduce a portion of the principal in order to achieve the desired target payment.
This is truly a once in a lifetime opportunity, and is available only for a limited window of time.
You also can only apply once, so it is imperative to get it done correctly and completely the first time. While Countrywide is motivated by the incentives provided by the government and a foreclosure is expensive to them, too, you want to be sure to get your application in in a timely fashion. Suggest Countrywide Loan Modification - Preventing a Countrywide Foreclosure Issues
