Do you know about - Obama Mortgage Refinance - How to Qualify For President Obama's Home Loan Refinancing program
Home Loan Interest Rates Today! Again, for I know. Ready to share new things that are useful. You and your friends.President Barack Obama took over Us economy when it was going straight through a major slump. In his 2009 Stimulus box he made an effort to make the lives of the Us population easier and saved their dream homes from being foreclosed. He has announced some grants, tax due and loans for the needy citizens in United States. He has made an effort to save your home straight through refinance and loan modification.
What I said. It is not outcome that the true about Home Loan Interest Rates Today. You see this article for home elevators that need to know is Home Loan Interest Rates Today.How is Obama Mortgage Refinance - How to Qualify For President Obama's Home Loan Refinancing program
Do you Qualify for President Obama's Home Loan Refinancing Program? Let us have a look:
· In case your loan or the mortgage is insured or owned by Fannie Mae & Freddie Mac you qualify for the refinance deal.
· Your loan estimate must be more than 105% of the current value of the home in order to apply for the mortgage refinance.
· Now your rate of interest can be lessened. It would be 5.16% in place of 6.5%.
· The mortgage monthly payments would now be exiguous to 31% of the gross monthly wage of the borrower. Also the sum total of all credit payments taken together must not be higher than 55% of the pre tax wage of the borrower.
· When you apply for the loan modification & refinance even if you do not own 20% equity of the home. This rule is now written off.
· The government has announced $ 1000 cash advantage for the banks & the mortgage associates per loan modification & refinance. So the banks are all willing to help you in your crisis.
· You can also take professional help from the Hud appointed counselors. They act as your representative in the bank dealings and present your case in the best potential amidst the bankers. Above they do not fee for their work as they are paid by the Federal Government. You must seek for their guidance once.
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