Have you been told one or more of the following: Not Qualified, Can't Refinance, Mortgage Upside Down, Short Sell or Foreclose? Not options if you want your home or made payments on time to protect your credit.

Home Mortgage Upside Down? Modify Loan Into Lower Mortgage Payment Without Refinancing. 

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Factually "Home mortgage upside down" works to your advantage. Do upside down mortgage modification even if your lender said, "Not qualified because payments are current." Yes you can modify loan into lower mortgage payment with out refinancing.

Government Mortgage Reduction Plans for Home Mortgage Upside Down. 

Oct 2008, while the government was bailing out banks and releasing TARP Funds, the Secretary of the Treasury, Timothy Geithner, announced 75% of US home owners qualify for government mortgage reduction plans. Not just those with extreme financial distress such as, home mortgage upside down and behind on payments but also those who are current on mortgage payments. Lenders actually receive payments from the government for each mortgage modification they give to borrowers but they get paid just as much for a small reduction as a large reduction. So there is no incentive for them to give you as much of a reduction as you qualify for. You do have to ask for the full amount and negotiate to get that.  

Government mortgage reduction plans are intended to stimulate economic recovery by injecting money back into the economy. The intention is that if you cut your mortgage in half you will take that extra money you now have and inject it back into the economy by going out to spend it. The banks don't necessarily see it that way. You have to figure out on your own what reduction you qualify for then convince them to give it to you.

Don't Buy Not Qualified, Can't Refinance, Mortgage Upside Down, Short Sell or Foreclose 

You can totally disregard what your lender told you verbally. You must submit your loan modification package in writing to be taken seriously and get a real answer.Find out the terms you qualify for before you submit. Then submit to modify loan into terms you qualify for and your lender is authorized to approve. Request lowering mortgage interest rate by 2-4%, but don't request a 2% reduction if you qualify for 4%. The point is, submit the modification you know you qualify for and your lender can approve. Negotiate from a position of strength. 

Typically modify loan into lower mortgage payment for 5-10 years and 2-4% interest reduction. The mortgage converts to interest only during this period, no principle payments are requited. If you have escrow payments for insurance or property tax, that continues unchanged. After the 5-10 years, your mortgage reverts to the original mortgage terms.

Don't Be Mislead by Verbal Replies of  Not Qualified, Can't Refinance, Mortgage Upside Down, Short Sell or Foreclose. 

Whether you've never been late on a payment or a year behind. If you wan to stay in your home, do upside down mortgage modification. But first find out for your self exactly what you qualify for. Don't go to your lender to find out what you qualify for. I have a client who did his own loan mod and reduced his payment 0 per month, that was great. We re-did his modification and found he qualified for another 00 per month reduction. Yes that was a LA California property. The bad news was that you have to wait a year once you modify a mortgage to do it again, fortunately he only had to wait two more months to start saving that extra 00 a month. 

We have compiled a database of TARP mortgage reduction plans we have successfully settled with lenders since Oct 2008. As a free service we make this data available to home owners. We will run your information through the the database and determine exactly what you qualify for under the government reduction plans, your monthly payment, the modified interest rate and the years of mortgage reduction. 

The next time you are told "Not qualified, can't refinance, mortgage upside down, short sell or foreclose," find out what the truth is. Run your mortgage info through the database and find out for yourself.

TARPdatabase@Gmail.com

You Can Do Upside Down Mortgage Modification to Modify Loan Into Lower Mortgage Payment Without Refinancing, Even If You Are Current on All Mortgage Payments

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While you're trying to get a college education, student loans can seem like a huge bonus, but once you are out of college, you'll face the repayment on all those loans that you have taken out during your years of school. If you're overwhelmed with your college loans, then you may be wondering if a consolidation loan is right for you. However, there are many things to consider before you take this route.

One of the big questions people have when it comes to consolidating loans is whether or not student loans can be refinanced after consolidation. Well, while the actual consolidation loan cannot be actually refinanced, you are able to consolidate a consolidation loan, but this can only be done once.

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If you are going to consolidate the consolidation loan you already have, the only way you are able to do this is by adding on new loans that you have not consolidated. Two different consolidation loans can also be consolidated into just one loan, but you cannot just refinance it on it's own.

Even if you do a reconsolidation, it doesn't mean that the rates on your previous loan are going to be relocked. A special average interest rate formula that is weighted is used to figure out the interest rate.

If you are trying to work on consolidating your current student loans and you think you may want to switch lenders in the future, then you may want to exclude one of the loans you have from this new loan. This way, if you think you want to go to a different lender and reconsolidate, you have the option available to do that.

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It's no secret that bankruptcy takes a toll on your credit score. Your credit score also known as your FICO score is a number between 300 to 850. A 300 FICO score is the lowest FICO score that you can have. The higher your FICO credit score, the better.

A person with a credit score above 670, is considered to have a good credit score and can therefore apply for car loans, mortgage loans, personal loans, debt consolidation loans, etc, with no problems. In addition, people with good credit scores get better interest rates on loans than people with problem credit.

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If you recently filed for Chapter 7 bankruptcy or Chapter 13 bankruptcy, you may be worried about your ability to obtain financing for a new/used car or refinance an existing auto loan.

The fact is owning a vehicle is essential for most Americans. Whether you live in New York city or the suburbs of Houston, Texas, having your own car, means getting to places on time - especially work. You can rely on buses and trains to get you to your destination but everyone knows that you are the whim of public transportation, which can be unpredictable.

If you have a low credit score below 600 or slightly above, the best way to find a new/used auto loan or auto refinance loan, is to do your research. Simply put, take advantage of internet resources. Why waste time calling multiple auto lenders that are listed in your local phone book, when you can apply for an online auto loan and get a response in a few days or 24 hours.

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