Mortgage Training Solutions

Obama’s $75 million Home Affordability and Stability Plan is a rescue attempt to save the plummeting housing market. The President has the conviction that by restructuring their mortgages, homeowners who are struggling to make ends meet, will be able to save their homes. This initiative comprises of two parts:

1. Home affordability refinance program – this program helps homeowners to refinance loans that went upside-down because of the tumbling property rates.

Continue reading ‘A Step-By-Step Direct to Obama Home Loan Modification Program’ »

Do I need to refinance to do a biweekly program? Hi, this is Dana Haenner,founder of BiweeklyMortgageTips.com. This is a question that we hear quite frequently and thankfully, for you, the answer is no. You do not need to refinance to get a biweekly mortgage program started. You can enroll with your existing mortgage. You can transfer this biweekly program, the one that we recommend, even if you refinance, you can transfer it to your new loan. If you sell your existing home and buy a new home, you can transfer it to your new home without a lot of hassle. By the way, our program works very well on second homes, automobile loans and extremely well on large commercial loans, but that is beside the point.

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The global economic downturn today leads a lot of people to lose their property, and millions of people are in the brink of home foreclosure. This is the reason why financial institutions offer a lot of methods that will help their clients pay off their mortgage. One of the methods that are rapidly becoming popular for people who are having problems with their mortgage is called home loan modification.

This particular method will allow the debtor to modify the terms of payment to make it favorable for both the lender and debtor. Although it is already very popular, most banks don’t suggest this method to their clients because once this is applied, they will be losing a lot of benefits that goes to the side of the debtor.

Continue reading ‘Key Points That You Can Receive From a Home Loan Modification Program’ »

Features of President Obama’s mortgage refinancing program

It’s possible to refinance a home loan and avail new home loan facilities through Obama mortgage refinance plan, and benefit with better interest rates, terms, and conditions. The main advantage, or highlight of the refinancing plan is that the loan facility availed can exceed 80% of the actual home evaluation value. As per older guidelines and working, it wasn’t possible for a home loan to be approved for refinancing, if the credit facility to be availed would be for more than 80% of the home evaluation. Real estate and homes have dropped in prices, and mortgage interest rates too have reduced, giving a clear indication that opting for refinancing is a good option.

Continue reading ‘Qualify for Obama’s Mortgage Refinance Program’ »

Over the past year, the Federal Reserve’s program of purchasing mortgage backed securities has been helping to keep the interest rate for 30 year mortgages down as far as below the 5% level. In fact, interest rates have just begun to creep up from their record low levels; 2009 ended with a bit of an increase on its 15 and 30 year fixed rate mortgages, but the first week of January ended with an unexpected dip in the rates before the anticipated rise is expected to continue.

Many experts are concerned that when the Federal Reserve stops buying mortgage-backed securities then the rates will rebound to the much higher rates that we had seen in previous years. This program is scheduled to cease on March 31st, 2010 unless the Federal Reserve deems it necessary to extend the program.

Continue reading ‘Federal Reserve Mortgage Securities Program May Continue to Provide Boost to Real Estate Market’ »

Our client’s regularly send us testimonials and their stories of how Legacy Reverse Mortgage helped them. In this article, a retiree and his wife use the Reverse Mortgage for  Purchase Program, also known as the Home Equity Conversion Mortgage or “HECM” for Purchase Program.

We’ve been publishing tons of articles here on Legacy’s reverse mortgage blog with information and statistics, facts, and well-crafted, insightful and original commentary on news and happenings in and around our industry.

Continue reading ‘Legacy Client Uses HECM Purchase Program to Buy Dream Home in San Diego’ »