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Would Obama's Refinancing Plan Boost Ailing Housing Market?
 
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With millions of Americans "underwater" on their mortgages and millions of homes facing foreclosure, President Obama unveiled a revamped home-loan refinancing program Monday during a stop in Nevada, which has the country's highest foreclosure rate. Judy Woodruff and guests examine the politics and substance of the plan.
Views: 1967 PBS NewsHour
President Barack Obama unveiled his $75 billion mortgage relief plan, a series of measures the presi
 
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(18 Feb 2009) HEADLINE: Obama unveils $75 billion mortgage relief plan CAPTION: President Barack Obama unveiled his $75 billion mortgage relief plan, a series of measures the president says will keep 9 million people from losing their jobs. The AP's Julie Pace breaks down the plan. (Feb. 18) [Notes:ANCHOR VOICE] President Barack Obama is rolling out the next step in his multi-pronged plan to revive the U-S economy....a 75 billion dollar program to help struggling homeowners. Obama says the plan will keep nine million Americans from losing their homes to foreclosure. SOT Barack Obama "the plan I'm announcing focuses on rescuing families who have played by the rules and acted responsibly." The plan offers incentives for lenders to lower monthly mortgage payments for millions of Americans who are the brink of foreclosure. It will also make it easier for families to refinance their mortgages if their homes are worth less than they owe. Stand-Up Julie Pace/The Associated Press "Obama's housing plan is more ambitious than originally expected - and more expensive. But with the effects of the crisis reverberating across the financial markets, Obama says the plan is necessary to not only get the housing market back on track." SOT Barack Obama "In the end, all of us are paying a price for this home mortgage crisis. And all of us will pay an even steeper price if we allow this crisis to deepen," But some experts wonder if incentives will be enough to get banks and lenders to act. SOT John Taylor/National Community Reinvestment Coalition "maybe we'll all be pleasantly surprised and see these investors and lenders who weren't willing to move a week ago or thirteen months ago, all of the sudden, through a voluntary program, because of a $1500 fee, willing to do massive modifications. Maybe that will happen. Even so, the president says the plan can't - and won't - help everyone. SOT Barack Obama "it will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans. It will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell." Funding for the mortgage plan will come from the 700 billion dollar bank bailout passed by Congress last fall. Julie Pace, The Associated Press, The White House You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/938b0332598383163962d13da512f2a7 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 75 AP Archive
Reid Discusses President Obama's New Housing Initiative
 
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Nevada Senator Harry Reid today discussed the release of guidelines for President Barack Obama's Making Home Affordable initiative. This new program is designed to help millions of Americans refinance or modify their mortgages, making it possible for them to stay in their homes. Combined with the foreclosure prevention funding Reid is working to secure in the omnibus appropriations bill, this plan could provide immediate relief to Nevada families. Up until today, help seemed out of reach for responsible home owners whose mortgages suddenly became unaffordable. More often than not, you had to be in default or on the brink of foreclosure to get any assistance or to renegotiate your loan, Reid said. Now, homeowners who can no longer afford their mortgage, or whose mortgages will become unaffordable very soon, are eligible to participate in the Administrations plan. To see the full text of Reids statement on this initiative please visit http://reid.senate.gov/newsroom/pr_030409_statementonobamahousing.cfm
HARP & HAMP Extended Through 2016
 
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The Federal Housing Finance Agency announced an extension through 2016 for its HARP and HAMP plans for borrowers looking to save money on their mortgages. HARP (Home Affordable Refinance Program) and HAMP (Home Affordable Modification Program) were set to expire at the end of 2015. With the new extension, these mortgage relief programs will continue making homes more affordable for borrowers who are making payments on underwater properties, in the case of HARP, and for borrowers who are facing financial hardship and may be delinquent on their payments, in the case of HAMP. Check out this episode of Big Money Real Estate with Ilyce Glink to get more information on whether you may be able to take advantage of either HAMP or HARP to save money on your mortgage. Follow these links to the FHFA’s web resources on HARP and HAMP for details. And check out Ilyce’s Intentional Investor Series to learn everything you need to know to become a successful investor in real estate.
Views: 7060 ExpertRealEstateTips
Obama's Help for Homeowners
 
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Moody's Analytics chief economist Mark Zandi examined President Obama's new legislation to reduce foreclosures.
Views: 354 CBS
Will Obama's Plan Help Struggling Homeowners?
 
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President Barack Obama's plan would target homeowners who cannot afford their mortgage payments, helps to refinance homes with negative equity, and lowers payments to 31 percent of a homeowner's income.
Views: 2109 KCRA News
New mortgage assistance program
 
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(WTNH) -- Distressed home owners will get another chance to explore loan modification and foreclosure prevention options.
Views: 70 WTNH News8
Obama's (HARP 2.0) Explained in Less Than 2 Minutes. Home Affordable Refinance Program..flv
 
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http://www.harpprogram.net Resources and information about the Harp Program (Harp 2.0) and HOW the government could help you to get a Harp loan refinance. What Is A HARP Loan And Who Could Get A Harp Refinance? HARP is commonly referred to as the Home Affordable Refinance Program. In an effort to help stabilize the housing market, the federal government developed this program to help homeowners who either did not have enough equity for a traditional refinance or who were having problems making the monthly payments on their current mortgages. Who is the HARP program of 2012 designed for? Maybe you've gotten laid off, drained your savings account to make your mortgage payments, and now don't have any dime left to make further payments. Maybe you've had to take furlough days, a pay cut, and pay more in health insurance benefits and you simply don't have the income you used to have. In order to qualify for the Harp Program, you've got to own a mortgage that is held by one of the two government guarantors and you've got to have a lender that participates in the HARP program itself. Other than that, the government refinance program qualifications involve making regular payments on your mortgage for a consistent period of time, have the inability to qualify for a traditional refinancing package through other major lenders, and have your mortgage be underwater. Are you able to qualify for the Obama HARP program of 2012? If you think that you might qualify for the HARP program of 2012, then be sure to apply as soon as you can. Some lenders have limited positions available in this program, so be sure to get your application in ASAP. Your underwater home doesn't have to put your entire financial picture underwater as well. Apply today for HARP 2.0 and see just how much money you could save with a lower interest rate today! http://goo.gl/I3p0C search terms: Harp program, home affordable refinance program,harp 2.0 changes,harp loan,harp refinance,underwater mortgage refinance,mortgage refinance,Obama refinance..
Views: 11489 Makemoneyonline4noob
President Obama on Working Through the Mortgage Crisis
 
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The President speaks after Housing Refinance Roundtable with real people who have benefited from renegotiating their mortgages and explains how millions of others can take advantage of his Making Home Affordable plan. (public domain)
Views: 24575 The Obama White House
Mortgage Accelerator Program
 
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Mortgage acceleration example of one of many strategies Financial Relief Alliance can utilize to pay off your mortgage and all your debt saving 100's of thousands of dollars in interest payments and doing so in a fraction of the time it would normally take.
Views: 65152 financialrelief
A top Republican called for more mortgage relief and additional tax cuts in President Barack Obama's
 
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HEADLINE Obama stimulus plan faces changes in Senate CAPTION: A top Republican called for more mortgage relief and additional tax cuts in President Barack Obama's massive economic stimulus package as Democrats conceded privately they will drop items that have drawn bipartisan criticism. (Feb. 2) [Notes:ANCHOR VOICE] (Consumer spending file) With fresh indicators showing families are slamming their wallets shut ... (Senate floor) ... the Senate began work on a tax-cut-and-spending package that aims to throw those families a lifeline. (To McConnell) And Republicans stepped up their attack on the plan as bloated AND misdirected. MCCONNELL SOT: (11:07 a.m.) And I've indicated where we think it ought to go: fix housing first, tax relief for middle and lower income taxpayers to put money back into their pockets immediately. FONT: Senate Minority Leader Mitch McConnell, R-Ky. (Obama meeting) President Barack Obama acknowledges GOP complaints, but says it's vital the $900 billion plan NOT bog down. OBAMA SOT: What we can't do is let very modest differences get in the way of the overall package moving forward swiftly. (:08) (Cutaways) The president enlisted the help of a Republican governor who backs the plan because of the badly needed aid to states it contains. DOUGLAS SOT: It's the kind of recession that is deep, that appears to be long. And the only way we're going to get the economy moving again is a partnership between the states and the federal government. FONT: Governor Jim Douglas, R-Vt. :11) (Standup close) The president must now decide how much horse trading to engage in on his top domestic priority. He's acknowledged the package will likely get pruned before Senate passage. But it's unclear how much HE'LL wield the shears himself in search of a bipartisan vote. MS, AP, WH You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/2f2324ca097823e52fc401910f8ca71c Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 14 AP Archive
Tips for Filling Out the Request for Mortgage Assistance Form | Ark Law Group
 
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The Key Tips You Should Know When Saving Your Home Through The Government Mortgage Assistance Programs. Find out if you qualify for mortgage relief: http://www.arklawgroup.com/mortgage-relief-program-eligibility For more info: http://www.arklawgroup.com/blog/15-communication-tips-that-will-help-you-negotiate-successfully-with-your-mortgage-lender Nadia and Lambros of ARK Law Group give some tips on how to use the request for mortgage assistance (RMA) form when working with your lender. There are a lot of government programs that might work for you, and help get a loan modification approved. These are run through the "making homes affordable" program, and, ideally, you want to be placed under this program. Part of applying for that program is the RMA form. Here are some tips for completing that form: 1. The RMA form is always being updated with little changes, blank pages added, etc. Always search for the latest version of the form, as sometimes it can take as much as 30 days for the lender to notice you are using an outdated version of the form and get back to you. When facing a foreclosure sale date, that might be the difference between getting a loan modification in time, and losing your home. 2. Every single line needs to have something in it, even if it doesn’t apply to you. Write N/A instead of leaving it blank. A lender seeing a blank field will assume an incomplete document and reject it. 3. Make sure that the financial page is completely filled out and accurate regarding everything coming in, and going out, of the household. The RMA form doesn’t account for every type of income on that form. If the form doesn’t have a space for a type of income you receive, be sure to use the "other" space. The form also doesn’t provide enough space for expenses, so if you need more, add a supplement page and itemize your expenses so the lender has a complete picture. 4. Always use a wet signature on the form, electronic signatures are not acceptable. 5. If you have questions on the types of expenses or income, it will depend on the type of loan you are applying for, and you should seek legal assistance. ********************************* Subscribe to our YouTube channel: https://www.youtube.com/c/Arklawgroup Read some of our 550+ five star reviews here: http://www.arklawgroup.com/testimonials Related Videos https://www.youtube.com/watch?v=lHQRpVQ2hM0 https://www.youtube.com/watch?v=ZtbFM11ozYo ********************************* Ark Law Group specializes in providing total financial relief to distressed homeowners and consumer borrowers. The attorneys at Ark Law Group are experts in foreclosure prevention, debt settlement, bankruptcy law, loan modifications, mediation services and short sales. The Ark Law Group "Every Last Penny" Guarantee: We won't stop working until every last penny of your debt is gone. That is our guarantee to you. Call us for a free consultation 1-888-373-9713.
HAMP Loan Modification: Four Tips to Make Your Trial Payments Plan Go Smoothly | Ark Law Group
 
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The Four Tips To Help Your Loan Modification Trial Plan Go Smoothly. Find out if you qualify for mortgage relief: http://www.arklawgroup.com/mortgage-relief-program-eligibility For more info: http://www.arklawgroup.com/blog/hamp-program-guidelines-do-you-qualify Nadia and Lambros of ARK Law Group discuss loan modification trial plans. The most common loan modification plan is the HAMP loan modification plan, which is aimed at getting homeowners mortgage payment down to around 33% of your income, giving you an affordable mortgage payment. Many homeowners get approved for HAMP, at which point the bank wants to see you make three trial payments, to make sure you are stable and able to make those payments. It's key that those payments get made, get made on time, and there is nothing weird about them (they don’t get sent back, it’s not the right amount, there aren’t any questions - the key is that it goes smoothly). Anything out of the ordinary could result in not getting approved for the final loan modification. Make sure you fully understand the terms of your payment plan, and comply. Here are some tips: 1. When you do make a payment, always note down the confirmation number - call in and get it if need be. That’s how the bank tracks the payments, so if there is ever a problem you can reference that number. 2. Send your payment early if possible, 2-3 days early will give you time to handle any weird issues that pop up. 3. Send it in the exact right amount - don't send any extra money early on, since it will look like you are able to afford a higher loan modification amount. 4. Find out what method the lender prefers and use it. Registered/certified mail, phone, whatever is best for the lender. The smoother you make this trial payment plan process for the lender, the better your chances of getting an approved loan modification – which, for some, means the difference between keeping their home, and starting from scratch. ********************************* Subscribe to our YouTube channel: https://www.youtube.com/c/Arklawgroup Read some of our 550+ five star reviews here: http://www.arklawgroup.com/testimonials Related Videos: https://www.youtube.com/watch?v=xIuEOR4wdO0 https://www.youtube.com/watch?v=_Am-2ynL1l8 ********************************* Ark Law Group specializes in providing total financial relief to distressed homeowners and consumer borrowers. The attorneys at Ark Law Group are experts in foreclosure prevention, debt settlement, bankruptcy law, loan modifications, mediation services and short sales. The Ark Law Group "Every Last Penny" Guarantee: We won't stop working until every last penny of your debt is gone. That is our guarantee to you. Call us for a free consultation 1-888-373-9713.
FHA $0 Down Disaster Relief Home Program
 
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If your home was damaged during one of the recent hurricanes, you could qualify for the FHA $0 Down Disaster Relief home program. You can use this program to move to a new home. Watch to find out how to use this program. Check Us Out at: https://www.angelochristianmortgage.com Follow Us These Platforms: Facebook: https://www.facebook.com/AngeloChristianInvestor/ Instagram: https://www.instagram.com/angelochristianinvestor/ Related Videos: USDA $0 Down Home Loans: https://youtu.be/SQfOSydYdPY FHA $0 Down Home Loan: https://youtu.be/60DQ8MzZBPQ FHA Loans - Real Estate Insider: https://youtu.be/ktiRLWFIJuk USDA Home Loans Explained: https://youtu.be/CM0JBPvEOpM Check us out on Vimeo: USDA $0 Down Home Loans: https://vimeo.com/246039588 FHA $0 Down Home Loan: https://vimeo.com/246037693 FHA Loans - Real Estate Insider: https://vimeo.com/246037774 USDA Home Loans Explained: https://vimeo.com/247010583 “CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.” Branch NMLS# 1647520. American Financial Network, Inc. is licensed by the Texas - SML Mortgage Banker Branch Registration under Nationwide Mortgage Licensing System (NMLS), unique identifier of 1647520. Florida Mortgage Lender Servicer Branch License (MLDB6404). Missouri Out of State Branch Registration. North Carolina Mortgage Branch License (L-158766-146). Refer to www.nmlsconsumeraccess.org and input NMLS #237341 to see where American Financial Network, Inc. is a licensed lender. In all states, the principal licensed office of American Financial Network, Inc. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (714) 831-4000 (NMLS ID#237341). This is not an offer for extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. The content in this advertisement is for informational purposes only. Products not available in all areas.
Views: 682 Angelo Christian
Obama's Mortgage Task Force is a Joke
 
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Via NY Daily News: "Three months ago, in his State of the Union speech, President Obama announced a new task force to investigate mortgage fraud and bring some measure of relief to the 12 million American families who are either losing their homes or in danger of losing them. The new Residential Mortgage-Backed Securities Working Group would be co-chaired by New York State Attorney General Eric Schneiderman, U.S. Attorney John Walsh of Colorado and three Washington insiders from the Justice Department and the Securities and Exchange Commission. Obama said, "This new unit will hold accountable those who broke the law, speed assistance to homeowners and help turn the page on an era of recklessness that hurt so many Americans." Whether or not the President, attorney general and others intend to get around to this task someday, "speed" was a terrible word to choose. Because 85 days after that speech, there is no sign of any activity...".* The Young Turks host Cenk Uygur breaks it down. Read more from Mike Gecan and Arnie Graf: http://www.nydailynews.com/opinion/obama-mortgage-unit-awol-article-1.1063094 Subscribe to The Young Turks: http://bit.ly/eWuu5i The Largest Online New Show in the World. Facebook: Twitter: http://twitter.com/theyoungturks Google+: http://www.gplus.to/TheYoungTurks Pinterest: http://pinterest.com/tytnetwork/
Views: 20496 The Young Turks
John Berlau on Obama's Mortgage Rescue Plan
 
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John Berlau, Director of the Center for Investors and Entrepreneurs at the Competitive Enterprise Institute, debates the merits of President Obama's mortgage rescue plan.
Check Eligibility for Home Affordable Program
 
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In this tutorial you will learn what is Making Home Affordable Program and are you eligible for it. Don't forget to check out our site http://howtech.tv/ for more free how-to videos! http://youtube.com/ithowtovids - our feed http://www.facebook.com/howtechtv - join us on facebook https://plus.google.com/103440382717658277879 - our group in Google+ In this tutorial you will learn what is Making Home Affordable Program and if are you eligible for it. Making Home Affordable Program is a free of charge U.S. federal program that helps homeowners avoid foreclosure, get mortgage relief and keep their homes. Here's how to find out if you are eligible for the Program: Step 1. Go to www.makinghomeaffordable.gov It's very helpful to study website's materials in the meantime to get first help for your situation, however, now we're moving on to our specific target page. Step 2. Click on "Get Started" and from the drop-down menu choose "Finding the Right Program". Step 3. Choose the type of help you need. We'll choose "Help me reduce my interest rate" option. Step 4. The menu will redirect you to a questionnaire. Answer each question sequentially. Step 5: After you're through with the questionnaire, the menu will show you the list of Making Home Affordable Programs you might be eligible for. Click in these program names to get the further information about the chosen Program. Step 6. If you have additional questions, you may contact housing experts for more help. Use the phone numbers given on the website. Don't hesitate to ask for the most detailed information: knowledge is power and your key to changing situation for the better. Good luck! Result: You have now successfully learned about Making Home Affordable Program and whether you are eligible for it.
Emergency Homeowners' Loan Program (EHLP)
 
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MMI is approved by HUD to qualify homeowners for the Emergency Homeowners Loan Program (EHLP). The Emergency Homeowners Loan Program is a 1 billion dollar initiative that is expected to help up to 30 thousand homeowners in 27 states and Puerto Rico. There is a limited amount of time to apply for assistance through this program. The deadline for filing a pre-applicant screening worksheet is July 22, 2011.
Obama: Mortgage Deal Turns Page on Reckless Era
 
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President Barack Obama says a $25 billion settlement between mortgage lenders and states over foreclosure abuses "will begin to turn the page on an era of recklessness that has left so much damage in its wake." (Feb. 9)
Views: 1407 Associated Press
Grand Strand realtors: Refinance program good, but will leave many out
 
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President Barack Obama announced a new program to help struggling homeowners Monday, but there are questions about how much it will help homeowners on the Grand Strand and Pee Dee.
Views: 92 WPDE ABC15
Is The Student Loan Forgiveness Plan A Good Idea?
 
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Learn to budget, beat debt, & build a legacy. Visit the online store today: https://goo.gl/GjPwhe Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Views: 76303 The Dave Ramsey Show
Debt consolidation
 
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Learn to budget, beat debt, & build a legacy. Visit the online store today: https://goo.gl/GjPwhe Subscribe to stay up to date with the latest videos: http://www.youtube.com/user/DaveRamseyShow?sub_confirmation=1 Welcome to The Dave Ramsey Show like you've never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave's producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you'll see exclusive content from people like Rachel Cruze, and Chris Hogan, Christy Wright and Chris Brown —as well as all kinds of other video pieces that we'll unveil every day. The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!
Views: 86748 The Dave Ramsey Show
Home Affordable Mortgage Program to Expire at End of 2016
 
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The Obama Administration's Home Affordable Mortgage Program, or HAMP, will be replaced by a new federal assistance program called Flex Modification in 2017. Don’t forget to SUBSCRIBE for daily videos: http://bit.ly/1ERsYqw **More info & videos below** For full episodes, check out http://www.njtvnews.org/ Facebook: http://www.facebook.com/njtvonline/ Twitter: http://www.twitter.com/njtvnews/ ----------------- NJTV News with Mary Alice Williams is a week-nightly news program on NJTV covering local New Jersey news as well as a multi-platform, local information source for New Jersey. Be sure to share with us your story ideas, feedback and tips about news in your neighborhood here: http://bit.ly/1GnSEtn NJTV News with Mary Alice Williams airs every weeknight at 6, 7:30 and 11 p.m. ET on NJTV.
Views: 160 NJTV News
Homeowner Affordability and Stability Plan
 
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http://www.cambridge-credit.org -- Transcription: Hello, and welcome to Your Money 2.0. I’m Christopher Viale, president and CEO of Cambridge Credit Counseling Corp. Recently, the Obama Administration introduced its Homeowner Affordability and Stability Plan. Details have been a bit scarce, but more information will be made available before implementation on March 4th. The Plan approaches the housing crisis on two fronts – refinancing, and the modification of loan terms. Both parts try to make circumstances more comfortable for consumers by reducing their monthly mortgage payments. Overall, the administration anticipates the plan will help close to 9 million Americans maintain homeownership. When it comes to refinancing, the Plan would allow a homeowner to secure a reduced interest rate by easing the lending criteria for loans owned or guaranteed through Government Sponsored Enterprises, or GSE’s, like Fannie Mae or Freddie Mac. This provision could help a portion of the 15 million American homeowners who owe much more on their loan than their house is currently worth. The revised guidelines would allow homeowners to refinance up to 105% of a home’s current value, even if there is little or no equity in the home. This could help 4 to 5 million homeowners roughly a third of those mentioned earlier, save about $200 a month. The modification aspect of the plan is designed to assist homeowners who are at risk of foreclosure. The definition of “at risk” has been expanded to include those who may not have yet missed a loan payment, but who have the potential to do so. Here, the Plan hinges on lender participation and the affordability of the monthly mortgage payment. First, the lender will need to work with the consumer to reduce the mortgage payment to no more than 38% of his or her gross income. From there, the government will match lender concessions dollar-for-dollar to further reduce the monthly payment to 31% of the consumer’s debt-to-income ratio.
Analyzing Obama's Plan to Help Homeowners
 
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Watch more at http://www.theyoungturks.com
Views: 10116 The Young Turks
Loan Modification Success Stories | Ark Law Group
 
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Success Stories: Getting a More Affordable Mortgage Payment With Loan Modification & Eliminating Arrears. Find out if you qualify for mortgage relief: http://www.arklawgroup.com/mortgage-relief-program-eligibility For more info: http://www.arklawgroup.com/testimonials Nadia and Lambros of ARK Law Group discuss how you can use a loan modification to eliminate your arrears, and get your mortgage payment down to a more affordable rate. A recent couple where the husband was a truck driver, had lost some of his income. They had kids in college and the wife decided to pay for their children’s tuition, but couldn’t afford the mortgage payments after that was done. They eventually became $20,000 behind before the husband's income returned to normal and they received a notice of default. They couldn’t work out how to deal with $20,000 so they contacted Ark Law Group, we immediately filed for mediation. They had some options at this point, HAMP Tier 1, HAMP tier 2, in-house loan modifications, forbearance programs, and unemployment assistance. Mediation gave them the system to ask for those. In most cases, lenders want the process to go as slowly as possible, to stay in the home as long as possible. In this case, they wanted an answer right away, so we filed for a loan modification even before the mediation session. They were approved for a HAMP Tier 2 trial modification plan with the following bonuses: - Foreclosure was taken off the table - No charges of late fees added during the trial plan - They would also get no late fees of any kind on the original $20,000 if they did successfully pay the trial plan ********************************* Subscribe to our YouTube channel: https://www.youtube.com/c/Arklawgroup Read some of our 550+ five star reviews here: http://www.arklawgroup.com/testimonials Related Videos: https://www.youtube.com/watch?v=-dDv-3t5HnU https://www.youtube.com/watch?v=fq1wEDRIhkU ********************************* Ark Law Group specializes in providing total financial relief to distressed homeowners and consumer borrowers. The attorneys at Ark Law Group are experts in foreclosure prevention, debt settlement, bankruptcy law, loan modifications, mediation services and short sales. The Ark Law Group "Every Last Penny" Guarantee: We won't stop working until every last penny of your debt is gone. That is our guarantee to you. Call us for a free consultation 1-888-373-9713.
How-To Qualify For Government Refinance Mortgage Assistance
 
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Views: 101 Cengiz İmren
Popular federal student loan program expires
 
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The decades-old Federal Perkins Loan Program provides loans for nearly 500,000 students in 1,400 schools, but despite a bipartisan bill to extend the program, it expired on Sept. 30.
Loan Modification Secrets: Should You Report Income From Non-Borrower Contributors? | Ark Law Group
 
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The Benefits and Dangers of Non-Borrower Contributors When it Comes to Your Home Mortgage. Find out if you qualify for mortgage relief: http://www.arklawgroup.com/mortgage-relief-program-eligibility For more info: http://www.arklawgroup.com/blog/these-3-bank-statement-details-will-help-you-get-your-loan-modification-approved Nadia and Lambros of ARK Law Group discuss how to deal with a non-borrower contributor when it comes to mortgage debt resolution. A lot of borrowers we help have someone that helps them with payments but who isn't on the loan. Knowing how to deal with this on a loan modification application is essential. Some non-borrower contributors might be renters in your home, family or even friends that are helping out. When the lender asks your income, what should you say? This comes down to your goal. If you're trying to get a loan modification, or need to show more income, you may not have thought of a non-borrower contributor as a source of income before, but adding them could change your debt to income ratio sufficiently to make a difference. You can write a letter of explanation, showing who the person is and what extra income they provide. Just be sure that money goes into a bank account so it can be verified. The one time you might not want to include this is when you have a high income to expense ratio. Then you need to prove that you actually need the modification (and are actually having a financial hardship). While you might not view a temporary renter as an extra source of income, the lender might. When going through the appeals process for a rejected loan modification, the previous oversight of not including a non-borrower contributor might be reason enough to reopen your case, as you are showing that your circumstances are actually different than originally reported. ********************************* Subscribe to our YouTube channel: https://www.youtube.com/c/Arklawgroup Read some of our 550+ five star reviews here: http://www.arklawgroup.com/testimonials Related Videos: https://www.youtube.com/watch?v=xIuEOR4wdO0 https://www.youtube.com/watch?v=2M9e_kd1JH0 ********************************* Ark Law Group specializes in providing total financial relief to distressed homeowners and consumer borrowers. The attorneys at Ark Law Group are experts in foreclosure prevention, debt settlement, bankruptcy law, loan modifications, mediation services and short sales. The Ark Law Group "Every Last Penny" Guarantee: We won't stop working until every last penny of your debt is gone. That is our guarantee to you. Call us for a free consultation 1-888-373-9713.
San Diego Breaking News: How to Qualify for President Obama's Mortgage Refinance Program!
 
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The qualifying guidelines for President Obama's Mortgage Refinance Program have finally been released and it is great news for many homeowners. If you can answer YES to the 4 questions listed in this video, you will be eligible to qualify for this new refinance program.
Views: 183 michaeladeery
Mortgage Refinancing | Obama Loan Modification explained
 
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Hi, Im attorney Brian Corey and Ive handled foreclosures and mortgage modifications throughout south Florida for hundreds and hundreds of clients. What Im here today to talk to you to you about is how I can help you or you can help yourself.
Views: 632 TheLoanDefender
Changes in HARP Refinance Program for underwater mortgages
 
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The government recently announced a lessening of restrictions for the Home Affordable Refinance Program or HARP to take off the limits on how underwater you are. Since Oklahoma is not an underwater mortgage state since we had no bubble pricing this does not help us that much, plus if you have been late one time in the last year you do not qualify. if you are a financially distressed homeowner in the Oklahoma City Oklahoma area and missing house payments you need to talk to us about a short sale. More information is available at www.avoidforeclosureoklahoma.com
Views: 1631 Joe Pryor
I-Team: Second Chance Rent Program Offered No Chance
 
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by Dana Fowle Aired July 29, 2016 Cobb County - When hardworking families are down on their luck, often all they need is a second chance. A company called Second Chance Rent Program offered to help families in trouble to find another rental home. Bad credit? They can help. Pending eviction? They can help. But our investigation asks: Who is really getting helped here? "'Oh, we can help you before you get to the eviction process.' That really got me, like, I don't want to get evicted," recalled Gwendolyn Reese. But it was coming. Her husband lost his job. Ms. Reese, a disabled vet, was recovering from surgery. They were in trouble. And they found Second Chance Rent Program where they say "everyone deserves a second chance." "If I can stop that and you can help me then I definitely want to use your services," she said she told the company representative. Already cash strapped, they told the Better Business Bureau in a complaint they paid $150 to Second Chance Rent Program to get the experience they were seeing in the company's online testimonials. "I moved into a three bedroom, two and a half bath townhome. I love it," said the video posted on the company's web page. Ms. Reese believed they could help her. You see, Shani and Sam Leccima run Second Chance Rent Program and Married Millions -- the "ultimate business guide for married couples." So on May 27th last year, Ms. Reese gave them money. The website says it takes 24-48 hours to get back. But Gwendolyn Reese claimed, she couldn't get Shani Leccima to reach out. "No, she did not," she told the Fox 5 I-Team. June 11. In an email to Shani Leccima she complained, "you have not gotten back with me yet." "I would get up early in the morning to be the first person to call her when the business opened. I would always get her voicemail." June 16. Fed up and running out of time Gwendolyn Reese asked for a "full refund." "I have gotten no services rendered," she wrote. The next day, she said, Ms. Leccima called her. "She says, 'I'm going to get your name to the people I work with to help start the housing process.' I thought, this is what I should have had a while ago, but OK." She told the BBB she was forwarded to another company for help which cost her another $70. Ultimately, she said, she found a place on her own. Did Second Chance Rent Program do anything for her? "No, they did not." The Fox 5 I-Team decided to head over to Second Chance Rent Program's office. The company address led us to the US Post office. We found another address for the Leccimas - a Midtown penthouse. Long gone said security. Sam Leccima did return a call from Fox 5 and told me his wife ran the company and it's since been shut down. But here's a little irony for you: Shani Leccima who operates a company that claims to help families find homes has a long list of housing troubles herself. Court records show about a dozen dispossessories - eviction proceedings. We couldn't find the Leccimas, but we found their footprint in the Fox 5 I-Team archive. Back in 2007 Sam Leccima was a featured player on the reality TV show "Flip This House" buying, renovating and selling homes. But the truth was that he didn't own the houses and lied about selling them and making big money. "A lot of us have become rich in single-family residential investments," he touted on a website promoting himself. We found the BMW-driving Leccima had a long list of angry clients who told the court, police and state regulators they lost thousands of dollars investing with Sam Leccima. Despite getting evicted Ms. Reese and her husband are in a home, back to work and rebuilding no thanks to the people she paid to help her. "The money I put into this place I could've used that money somewhere else," she told me.
Views: 6117 FOX 5 Atlanta
U.S. Trustee Program: The Home Affordable Modification Program (HAMP) & Bankruptcy: How We Can Help
 
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The Home Affordable Modification Program (HAMP) & Bankruptcy: How We Can Help Friday, October 8, 2010 HAMP is a federal program designed to help struggling homeowners stay in their homes by modifying their monthly mortgage payments to make the payments more affordable. Though not all homeowners will qualify for this program, for those who do, HAMP may provide a real opportunity to save their homes. This video provides a basic overview of what HAMP is and how it works, particularly within the bankruptcy context. While this video was prepared primarily for the private chapter 7 and chapter 13 trustees who handle the day-to-day administration of bankruptcy cases, anyone interested in gaining a general understanding of HAMP will find it helpful. Presenters: Clifford J. White III Director, Executive Office for United States Trustees United States Department of Justice Doreen Solomon Assistant Director for Review & Oversight United States Department of Justice Kevin Anderson Chapter 13 Standing Trustee District of Utah Video Transcript and Materials: Transcript:http://www.justice.gov/ust/eo/public_affairs/consumer_info/docs/HAMP_transcript.pdf [PDF - 305 KB] Video Materials: http://www.justice.gov/ust/eo/public_affairs/consumer_info/docs/HAMP_video_materials.pdf [PDF - 493 KB]
President Obama Speaks at the Early Education Summit
 
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On December 10, 2014, President Obama delivered remarks at the White House Early Education Summit in the South Court Auditorium.
Views: 13588 The Obama White House
Down Payment assistance with the NHF program
 
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Down payment assistance is a big topic for homebuyers across the country today due to the housing crash in recent years and the stringent rules governing mortgage products and what is and what is not allowed. The rules have changed folks and it is not as easy it used to be to buy a home with no money down and that is why I am covering a great program that my bank offers that does allow some relief for and the ability to buy a home with no money down, We call it the NHF. NHF which stands for the National Homebuyers Fund was established in 2002 to stimulate and expand homeownership opportunities across the nation. NHF is a non-profit public benefit corporation and instrumentality of government under Internal Revenue Service code section 115. This program grows out of the significant benefits of homeownership for families and individuals in cities, counties and communities in which they live. Ok so we know that thousands of families and individuals who can qualify for a mortgage loan may still need assistance to reach the dream of homeownership with a Down payment assistance program. NHF's goal is to meet the needs of today's homebuyers through the development and management of various homeownership programs. Each program offers a unique source of assistance, whether that is down payment and/or closing cost assistance and the great thing about NHF is it follows standard mortgage loan underwriting guidelines. So, if you qualify for the mortgage, you can qualify for this program. So, what is it you ask, well let’s go over the basics of it and if you are interested in getting more information, give me a call and I will be glad to get you going. First, the program is sponsored here in Colorado which is one of the very few states that offer it and the loans are originated through our Bank and Serviced with a nationally known Bank here in Colorado as well. The section of the NHF I want to go over with you today is our NHF Platinum program, this program is a first mortgage program with a DPA which means Down Payment Assistance Grant. Yes I said Grant, that means it is given to you. With this program there is not a first time homebuyer requirement or minimum borrower contribution, so if you have already bought a house in the past, you can still use this program. And you do not need to contribute any of your own money like some of the other grants out there. So how much can you get? Well with this program, you get 5% of the total first loan amount, so if you buy a house for two hundred thousand dollars, you get ten thousand toward down payment and closing costs, pretty nice huh. Oh and this is not a grant that becomes a second lien. Even nicer! Now the first mortgage programs that this is eligible with are, thirty year fixed rate loans that are conventional Fannie Mae, FHA, VA and USDA. All of these loans have different down payment requirements so we can talk about the one that best fits your needs when you call. With this program, you will need a 640 minimum FICO score or a 740 if you are using Fannie Mae, which you should know all about if you have signed up for my 12 steps to homeownership series on this site and your Debt to Income should be at or below 45%. Ok, last thing and I am done for today on this program, you must live in the house if you want to take advantage of this, no rentals allowed or vacation homes and there is an income earning limitation. Don’t worry, if you have additional questions as I said, call me and I can address them. That covers the basics and as always, keep coming back to Homebuy101.com for great home buyer and homeowner information.
Fannie Mae just made it easier to qualify for a home loan
 
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NMLS 227887 541.284.8032 jkittel@opesadvisors.com Fannie Mae just announced some big changes that will make it easier for more borrowers to qualify for a home loan. Watch the video to find out what changes they are making to debt to income ratios, self employed borrowers and credit reports with disputed trade liens.
Views: 2186 Joshua Kittel
Mortgage Assistance Programs
 
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Housing Program Options with The Centre for Homeownerhip
Views: 86 Mario Stanley
Success!!! Benefit From Obama's Refinance Plan
 
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Success!!! Benefit From Obama's Refinance Plan
Views: 420 Dean Wegner
Utah HARP 2.0 Refinance Questions Answered by Expert. Refinance your Utah Mortgage with HARP 2.0
 
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Utah HARP 2.0 Mortgage Refinance Questions answered. Utah Residents can take advantage of the HARP Mortgage Refinance Program and lower their interest rates on their Utah Mortgage. Their are new changed to the HARP Mortgage Program and those changes have renamed the program HARP 2.0. HARP 2.0 is a modification of the Home Affordable Relief Program offered by the Federal Housing Finance Agency (FHFA). HARP was designed in an effort to attract more eligible borrower who can benefit from refinancing their mortgage loan. HARP Financing can help you take advantage of low mortgage rates even in your are upside down on your Utah home. There are some major guidelines and not all mortgage companies offer the same HARP refinance programs. You'll want to make sure that you work with someone local that knows the ins and outs of the Utah HARP 2.0 Mortgage Refinance program. The Mortgage Solutions Team can help you take advantage of these low rates. We have thousand of satisfied past clients and specialize in HARP 2.0 Mortgage Loans. You can reach us at 801-230-3107 and 801-716-5246. Visit us on the web at www.mymtgsolution.com and Facebook at www.facebook.com/mortgagedeals Additional useless Tags: "HARP 2.0 Mortgage Refinance Utah" "Salt Lake City Harp Loan" "Utah upside down on mortgage" "Utah HARP Mortgage loan" "Utah HARP Refinance" "refinance harp loan utah" "harp refinance utah" "harp loan utah" "harp mortgage loan utah" "harp mortgage loans utah" "harp lender utah" "refinance fannie mae loan utah" "draper utah harp mortgage" "draper utah harp loan" "draper utah harp refinance" "salt lake city harp refinance" "harp utah loans" "harp utah mortgage loans" "utah harp mortgage loans" Draper Utah HARP Mortgage, South Jordan HARP Mortgage, Sandy Utah HARP Mortgage, Murray Utah HARP Mortgage, Provo HARP Mortgage, West Jordan HARP Mortgage, Tooele HARP Mortgage, Orem HARP Mortgage, Bountiful HARP Mortgage, St. George HARP Mortgage, Logan HARP Mortgage, Herriman HARP Mortgage, Riverton HARP Mortgage, Lehi HARP Mortgage, West Valley HARP Mortgage, Taylorsville HARP Mortgage, Park City HARP Mortgage, Vernal HARP Mortgage,
Loan Modification Secrets: Getting Through a Phone Call With Your Lender | Ark Law Group
 
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The Key Tips You Should Know Before Going Into a Phone Call With Your Lender. Find out if you qualify for mortgage relief: http://www.arklawgroup.com/mortgage-relief-program-eligibility For more info: http://www.arklawgroup.com/blog/how-to-talk-to-your-lender-during-your-loan-modification-application-process Nadia and Lambros of ARK Law Group give some tips on how to get through a phone call with your lender. What’s some of the terminology they might use? How should you respond? If you hear that your file is in review, what should you ask? Your first step is: you want to know who the reviewing party is, is it an underwriter? If it is, that’s perfect and should be your goal. Sometimes it’s going to be in review with some sort of “pre-underwriter,” this could be referred to as a single point of contact, or "SPOC," processors, assigned party or representative. These people are not the decision makers, just document collection and check over. They make sure your file has everything the underwriter might need. If you haven’t made it to the underwriter yet, you need to know what else is needed (in terms of documents or proof) to get your file to the underwriter. Something else you might hear is incomplete, or not active. They might use these interchangeably, but they mean different things. If your loan modification file is still active, all the people at the bank can still see that you are applying for a loan. Having you file in that state of open review, or "active" file, can help postpone a foreclosure date, as the bank knows you are potentially moving onto a loan modification. Incomplete means there is something missing from the documents. Find out what that is, and provide it. You want an "active" and "complete" file that is in with underwriting. Anything else should be an indication that you need to take action. If you’re not sure what that action is, seek legal help. ********************************* Subscribe to our YouTube channel: https://www.youtube.com/c/Arklawgroup Read some of our 550+ five star reviews here: http://www.arklawgroup.com/testimonials Related Videos: https://www.youtube.com/watch?v=d194PIjUECQ https://www.youtube.com/watch?v=URzpetevLFc ********************************* Ark Law Group specializes in providing total financial relief to distressed homeowners and consumer borrowers. The attorneys at Ark Law Group are experts in foreclosure prevention, debt settlement, bankruptcy law, loan modifications, mediation services and short sales. The Ark Law Group "Every Last Penny" Guarantee: We won't stop working until every last penny of your debt is gone. That is our guarantee to you. Call us for a free consultation 1-888-373-9713.
West Valley Utah top mortgage programs and how to get them yourself.
 
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West Valley Utah important Mortgage info. Are you a resident of West Valley, Utah or the surrounding area? Have you wondered how to get the best loan program and interest rate available in your area? Do you know the right questions to ask? As a homeowner or someone looking to buy a home I am sure this has crossed your mind before. When you are looking for the best mortgage and not just in Utah, whether it is for buying a home or refinancing your home, you want to make sure that you are getting the best mortgage loan program available to you for your situation. Many times people ask “what is the lowest rate you can get me?” While that may seem like a very good question the fact is that interest rate is only a small factor to consider when getting a mortgage. You can get a very low interest rate on a mortgage but what if that rate comes at a significant cost, you could be getting charged “discount points”, “origination fees” or other various “buy-downs” to get that particular rate. The lowest rate may also come with a variable rate option, meaning that your rate can go up or down depending on mortgage indexes. We like to work one on one with our clients to show them the options that are the very best for their particular situation. We will show you what option has the lowest rate, lowest closing costs and other great features that don’t cost you an arm and leg. We offer mortgage loan programs to all of Utah and these options include: FHA, VA, USDA, Conventional, HELOC and HARP. If you are looking to refinance or buy a home, make sure you contact us to get the very best mortgage for your situation. Visit www.mymtgsolution.com or call 801-230-3107 to learn more. We offer mortgage loan programs to buy and refinance homes in these cities and counties including the entire state of Utah. Mortgage Solutions Team 801-230-3107 www.mymtgsolution.com www.facebook.com/mortgagedeals Keywords to help Utah Homeowners find the best Mortgage Options: mortgage calculator utah utah mortgage calculator reverse mortgage utah utah home mortgage Utah mortgages academy mortgage utah mortgage utah utah reverse mortgage bank of Utah mortgage Utah mortgage brokers mortgage brokers utah republic mortgage utah utah mortgage refinance mortgage refinance utah graystone mortgage utah mortgages utah mortgage broker utah peoples mortgage utah primary residential mortgage utah home mortgage utah citywide mortgage utah security national mortgage utah mortgage jobs utah mortgage types mortgage mortgage broker city mortgage mortgages 15 year mortgage mortgage salt lake city second mortgage mortgage calc mortgage brokers mortgage programs mortgage calculater regions mortgage freedom mortgage reverse mortgage mortgage amortization costco mortgage mortgage estimator mortgage assistance 2nd mortgage mortgage calulatortypes of mortgages subprime mortgage mortgage payment greentree mortgage cenlar mortgage standard mortgage pre qualify for mortgage first mortgage mortgage caculatoramerican mortgage mortgage prequalification us mortgage mortgage lending mortgage relief program arm mortgage mortgage options assumable mortgage residential mortgage first option mortgage mortgage qualification usa mortgage mortgage help mortgage modification mortgage services mortgage application capwest mortgage mortgage after bankruptcy mortgage assistance program house mortgage qualifying for a mortgage mortgage price mortgage costs 203k mortgage private mortgage mortgage comparison prequalify mortgage stated income mortgage mortgage consultant compare mortgages accurate mortgage mortgages for dummies streamline mortgage no doc mortgage prequalify for a mortgage 80/20 mortgage
HARP 2.0 Principal Reduction Program Jeremy Lovett WJ Bradley Mortgage
 
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Jeremy Lovett 480-744-6040 Jeremy@JJLovett.com http://www.JJLovett.com This week I wanted to expand on the Save Our Home AZ principal reduction HARP 2.0 refinance program I mentioned in last week's video. I have spent the time to learn all of the details of this program and it appears that this could really benefit those that qualify. With programs in the past a principal reduction was never really an option and only a very few lucky individuals received such relief as part of a mortgage modification. With this new program and our bank's willingness to participate we are actually left with a viable solution that is worth looking into. Some of the general qualifications are as follows: 1-The property must be used as a primary residence so no second homes or investment properties will qualify for the principal reduction aspect even though they may qualify to save money under the HARP program alone. 2-The mortgage must be Fannie Mae or Freddie Mac owned and have been in place prior to June 1st 2009. 3-The current loan to value ratio must exceed 120% so you must be upside down by at least 20% to qualify for the assistance 4-The current loan cannot be more than 150% of the purchase price so if you purchased the home for $200k you cannot owe more than $300k to qualify for this program. 5-Your household gross income must be less than 150% of the Area Median Income for the county that the property is located in If you or someone you know potentially meets these five requirements then now is the time to give me a call to see about taking advantage of this program. If you qualify you can receive up to $100k in principal reduction funds that will be used to pay down your existing mortgage while we refinance the remaining balance into a low fixed rate. The goal is to get people down to a 100% loan to value ratio so that they are no longer upside down on their home. The result is clearly a lower balance but when combined with the HARP refinance it means a drastically lower payment as well. For more information on the Save Our Home AZ Principal Reduction HARP program give me a call at 480-744-6040 or e-mail me at Jeremy@JJLovett.com
Views: 510 Jeremy Lovett
Clever Ways to Get out of Debt: Chapter 13 & Loan Modifications
 
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When struggling to get out of debt, some people don’t realize that there are some clever ways to solve their debt problem. For example, in a Colorado Chapter 13 bankruptcy, someone can remove a second mortgage pay back income taxes to the IRS without penalties and interest, refinance cars by removing the negative equity, and obtaining a loan modificaiton Colorado Chapter 13 bankruptcy has a few “tricks”. First, Colorado Chapter 13 bankruptcy is a way to eliminate a second mortgage. If you own a home that is worth $225,000 with a first mortgage of $250,000 and a second mortgage of $75,000, the second mortgage of $75,000 can be removed. During the last recession, this legal remedy was employed by thousands of homeowners whose homes were “underwater”. Before you feel guilty about it, remember, this practice is permissible under federal law. The process only works if the value of your home is worth less than the balance of your first mortgage. If your home is worth $251,000, you would not be able to remove the second mortgage. Colorado Chapter 13 bankruptcy allows you to repay taxes without accruing future interest and penalties. Some taxes are dischargeable, which we’ll discuss later, but taxes from the last three years typically need to be repaid. A Colorado Chapter 13 bankruptcy is a way to pay your tax debt without incurring future penalties or interest. Again, the savings can be huge. Another benefit of Colorado Chapter 13 bankruptcy is the ability to refinance cars. Financing cars is generally a poor financial decision because you’re paying interest on an asset that depreciates. As a result, you are likely to owe more to the bank than what the car is worth. Colorado Chapter 13 bankruptcy allows a debtor to refinance a car to repay what the asset is worth instead of what is owed. Assume you have a car worth $7,500 and owe $14,000. Under Colorado Chapter 13 bankruptcy, you can pay off the car at $7,500 instead of $14,000. You can also lower your interest rate. I’ve been able to help my clients reduce interest rates from 24% to 5% under a Colorado Chapter 13 bankruptcy. That is a huge savings. One final benefit of a Colorado Chapter 13 bankruptcy is that you can qualify for a loan modification. A loan modification is a program that allows homeowners to lower their mortgage payment to 31% or less of their gross monthly income. The program suddenly gave hope to homeowners struggling to make mortgage payments or facing foreclosure. A loan modification involves your lender modifying your existing mortgage payment to make it affordable. A loan modification can change the interest rate, restructure the term of the loan, and remove delinquent fees. A loan modification also allows an adjustable rate mortgage to be converted into a fixed interest rate loan. The primary focus of a loan modification is reducing monthly payments to 31% or less of a person’s gross monthly income. For example, if your gross monthly income is $5,000 per month, then your mortgage payments should be $1,550 per month or less. If your mortgage consumes a higher percentage of your income, the goal of a loan modification is to reduce your monthly mortgage payment. A loan modification is not available to someone who just wants to lower his monthly mortgage payment. The homeowner must show proof of financial hardship that warrants a modification, such as a pending foreclosure, bankruptcy, etc. Once the application is received, the mortgage company will evaluate the homeowner’s income, debt, and hardship eligibility criteria. The best proof of financial hardship is by filing Colorado Chapter 13 bankruptcy or missing mortgage payments as this demonstrates the home may no longer be affordable. Such hardship can be caused by job loss, loan payment increase, decrease in income, divorce, medical expenses, etc. However, you don’t have to file Colorado Chapter 13 bankruptcy in order to qualify for a loan modification. Loan modifications are all the rage today and probably won’t be a long-term solution though. If it’s an option for you today, then take advantage of the opportunity now as there are some great benefits to obtaining a loan modification. If you want to find some clever ways to get out of debt such as filing Colorado Chapter 13 bankruptcy or obtaining a loan modification, then call Heupel Law to schedule a FREE consultation at (303) 955-7570. Heupel Law is located at 2440 Stout Street, Denver, CO, 80205. For more information about Heupel Law, visit www.HeupelLaw.com or watch this video again: http://youtu.be/Xu6A1BwW6xs
Views: 6679 Heupel Law, P.C.
What Is The Harp Program?
 
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Quicken home affordable refinance program harp u. Googleusercontent search. Phome affordable refinance program (harp)are you eligible? Harp. Harp helps borrowers refinance into a more affordable mortgage the home program (harp) eligible lower their monthly payments. Harp the home affordable refinance program was created by federal housing finance agency specifically to help homeowners who are current on their mortgage payments, but have little no equity in homes, that is, they owe as much or more than homes currently worth what is harp program? When you your home, worth, it can be difficult loan owned freddie mac fannie mae. Harp provides borrowers, who may aug 13, 2012 what homeowners in need of mortgage relief to know about the revamped federal home affordable refinance program mar 15, starting next week, borrowers should find a wide range lenders offering refinances through harp 2. Federal housing finance what harp 2. Government's home affordable refinance program (harp) is a great option for homeowners who have little or no equity, owe more than their looking harp refi? Ditech's loan may be you. 0 (home affordable refinance program) helps you reduce your rate and payment even if you are underwater on your mortgage jan 19, 2017 the harp mortgage is a home loan refinance program launched in march 2009, which gives homeowners whose homes have lost value the jan 25, 2017 since its 2009 inception, the home affordable refinance program (harp) has helped more than 3. Is your mortgage owned by fannie mae or freddie mac? If loan is mac you can refinance with harp the program help! home affordable, also known as a federal of united states, set up housing finance agency in march 2009 to help underwater and near homeowners their mortgages 2. Program website! home affordable refinance program (harp) harp. Harp loan what you need to know about harp 2. Can and can't do for you cbs news. First announced in march jan 10, 2017 harp 2. Gov url? Q webcache. Question what is wrong with harp? A reader asks 'we tried to get a loan modification, but wells fargo said we did not qualify aug 25, 2016 both the home affordable modification program and harp were originally launched in 2009 provide relief borrowers by lowering their fhfa department of treasury introduced early as part making. Households to refinance may 30, 2016 find out how get your home affordable program application approved. Pfaqs the harp program website!. Learn how you can refinance your mortgage with harp. Home affordable refinance program wikipedia. Harp refinance rates & 2017 guidelines my mortgage insider. What is wrong with home affordable refinance program? Fhfa plans new program. 0, a program that allows borrowers to the u. Home affordable refinance program (harp) fannie mae. What is harp and do i qualify for a loan? Hsh. Harp program the refinance loan homeowners can't afford to 7 questions everyone asks about harp. Refinanceharp loan requirements and eligibility. 0) is designed to assist
Views: 3425 Question Bag
The Forum: Mortgage Relief or Bank Robbery? An Eminent Domain Showdown
 
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Milbank Tweed Forum: Mortgage Relief or Bank Robbery? An Eminent Domain Showdown Financial "innovations" helped blow up the housing market. Is the proposal to use eminent domain to take mortgages in order to "help" underwater borrowers another financial wizardry shenanigan, or a promising idea? Is it constitutional? Will investors put up with it? Listen to a discussion of the plan—adopted by Richmond, California and reportedly under consideration by the New York City Council—and the opposition mounted against it. PANELISTS: Vicki Been '83, Boxer Family Professor of Law, NYU School of Law Been is director of the Furman Center for Real Estate and Urban Policy, and her areas of research include predatory lending and affordable housing. Robert Hockett, Professor, Cornell University Law School Hockett's principal teaching, research, and writing interests lie in the fields of organizational, financial, and monetary law and economics. He authored a paper that sparked the idea of using eminent domain for mortgage relief. Matt Levine, Columnist, Bloomberg View Levine spent four years as an investment banker at Goldman Sachs, and worked as an M&A lawyer at Wachtell, Lipton, Rosen & Katz. John Vlahoplus, Co-founder and Chief Strategy Officer, Mortgage Resolution Partners Prior to his two decades in the financial services industry, Vlahoplus was an attorney at Sullivan & Cromwell. Mortgage Resolution Partners is a business that advises municipalities on how to use eminent domain to restructure mortgages. MODERATOR: Gerald Rosenfeld, Distinguished Scholar in Residence and Senior Lecturer, NYU School of Law Rosenfeld, a co-director of the Law School's Leadership Program on Law and Business, is vice chairman of Lazard Ltd. and previously served as deputy chairman of Rothschild North America and as its chief executive officer for eight years. This event took place on Wednesday, February 5, 2014.
Views: 1085 NYU School of Law
CMBA's Chris George Analyzes Impact of Obama Mortgage Plan
 
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Chris George, President of CMG Mortgage and a member of the California Mortgage Bankers Association's Board of Directors. Chris appears on KSRO 1350 to speak with Curtiss Kim about the impact, particularly in the San Francisco Bay Area, President Obama's mortgage refinance and foreclosure prevention plan will have on homeowners.
Views: 1948 CAMortgageBankers
Lower Your Mortgage Payment with a Loan Modification
 
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If you’re struggling to make your mortgage payment, then you need to consider a loan modification. A loan modification involves your lender modifying your existing mortgage payment to make it more affordable. A loan modification to your principal balance can change the interest rate and term of the loan; delinquent fees can also be restructured. This is a way to avoid foreclosure and convert an adjustable rate mortgage into a fixed interest rate loan. The primary focus of a loan modification is reducing monthly payments to 31% or less of a person’s gross monthly income. For example, if your gross monthly income is $5,000 per month, then your mortgage payments should be $1,550 per month or less. If your mortgage consumes a higher percentage of your income, a loan modification would reduce your monthly mortgage payment. One of my greatest successes involved a client who had a mortgage payment of $2,695 per month. He was behind on his payments by $12,243. After a loan modification, his new payment dropped to $1,770 per month; saving him $925 month; the overdue penalties were also removed. Loan modification is not available to someone who just wants to lower his monthly mortgage payment. The homeowner must show proof of financial hardship that warrants a modification, such as a pending foreclosure, bankruptcy, etc. Once the application is received, the mortgage company will evaluate the homeowner’s income, debt, and hardship eligibility criteria. The best proof of hardship is missing mortgage payments as this demonstrates that the home may no longer be affordable. Such hardship can be caused by job loss, loan payment increase, a decrease in income, divorce, medical expenses, etc. Another benefit of a loan modification is the Principal Reduction Alternative (PRA). PRA gives loan servicers the flexibility to offer principal reduction relief to homeowners whose homes are worth significantly less than they still owe (loan-to-value of 115% or above; this means that if the amount owed on the home relative to the value of the home is greater than 115 %, the loan servicer must consider whether to reduce the principal). However, principal reduction is at the servicer’s discretion. A loan modification is designed to protect homeowners from unnecessary and costly foreclosure actions. If you are facing foreclosure, contact your mortgage company, continue to make payments, and call the HAMP Hotline at (888) 995-HOPE (4673). As with any debt solution, there are problems with loan modifications. Some homeowners receive a loan modification that they cannot afford and still end up losing the homes to foreclosure. Other modifications result in the homeowner making payments on an “underwater” asset that may take years to recover before there is equity in the home, which means that the homeowner is wasting a lot of money during that time. And loan modifications only help with mortgage payments. If you have other debts, a loan modification will not resolve them. It might provide some more income that you can pay towards other debts, but it does not immediately provide relief from other debts the way bankruptcy does. Regardless of these drawbacks, you’re no worse off if the loan modification gets denied, but they’ll certainly be better off if it gets approved. Basically, there’s nothing to lose by trying. Loan modifications are all the rage today. It will be interesting to see the life expectancy of loan modifications as a debt relief option. There are companies and attorneys that you can hire to help you get a loan modification. Keep in mind that you don’t need to pay anyone as the process can be handled by a layman rather than an attorney. There have been a lot of loan modification scams where the firm requires payment before the process begins, and then disappears. The State of California passed a law in October 2009 prohibiting real estate brokers and attorneys from accepting advanced fees for the purpose of a loan modification, however there are legitimate companies that can help. Instead of wasting your time collecting and submitting documents, sometimes it’s worth the expense of hiring a company that can do it more efficiently as the process can easily take 40-60 hours of your time. If you need help reducing your mortgage payments and need a loan modification, call Heupel Law at (303) 955-7570 and schedule a free consultation. Heupel Law is conveniently located at 2440 Stout Street, Denver, CO, 80205, and we have free parking. For more information, visit www.HeupelLaw.com and to watch this video again, click the following link: http://youtu.be/fS8NYWm87sk
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Obama Offers Troubled Homeowners Clear Chain Of Title Plan As Mortgage Relief
 
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President Barack Obama offered mortgage relief on Monday to hundreds of thousands of Americans, his latest attempt to ease the economic and political fallout of a housing crisis that has bedeviled him as he seeks a second term.
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