Mortgage Calculator Suggestions
It is doubly difficult for those that have retired and are now solely supported by their pension that they’ve paid into over their working years and perhaps disability payments. Often times this alone is not enough to sustain a decent quality of living. That being said the reverse mortgage industry was designed specifically for these types of people. In short, we reverse mortgage allows you to do is borrow against the equity in your home and repayment until you either sell the home move to a gated community or die. That being said, you maybe wondering especially if you’re a senior citizen whether or not it reverse mortgage calculator can actually help you figure out if you should get this type of loan in the first place.
Do you remember the good old days of simple interest when you did not need a home mortgage calculator? Where every payment paid the same amount of interest and principal until the last payment? Sure made calculating a home mortgage loan simple to understand and easy to calculate.
But wait! This is the 21st century. Today we have loans with adjustable rate mortgages, first-year payments containing 75% or more of interest and complex loan calculations that only a computer can love. Do not try these calculations yourself, you are going to need a home mortgage calculator.
You cannot buy it. But lenders and mortgage brokers are encouraged to link to the calculator for free on their own web sites.
Using simple slider controls along with graphs and charts you can see how much and how fast you will pay interest and how much and how slowly you will pay down your principal. Karl even put in a great feature that automatically accounts for changes in the inflation rate as reflected in the economy. The calculator also includes great features for computing scenarios including adjustable interest rates, extra payments and prepayments. The calculator is completely interactive and does not require you to reload the page to see the results of any changes you make.
- The amortization graph shows the amounts of both the interest and principal paid as a portion of the monthly payment for the life of the loan.
Something to consider here is the fact that as was mentioned previously a reverse mortgage is a loan. True, it may seem like free money especially with the way you can defer payment however, it will need to be paid back and before you get involved with a lender or pick up the phone after watching a TV commercial for this you really need to know exactly what you’re getting into and reverse mortgage calculator can help you with this. The last thing you want is to go more money again or similarly you don’t want to go through the whole process only to discover that your house really isn’t worth that much and as such this type of loan would be useless to you.
- The repayment graph shows you how much you will pay in total interest and total principal expressed both as a percentage and in pie chart format.
- The balance graph shows a curve representing the balance of principal still owed for the life of the loan.
If you thought the paper was helpful you may also be interested in more topics about Auto Loan Values and also Auto Loan Calc.
Benefits From Mortgage Rates
Everyone’s talking about record low home finance loan rates. But how extended can we expect the pattern to continue?
Conventional wisdom says: when the economy is struggling, prices drop. When investors are skeptical about the economy, they flock to treasury bonds. As a result, 10-year Treasury yields fall, and so do home finance loan rates. This is exactly the scenario we’ve been seeing in recent weeks.
And really should I refinance?
The Federal Open Market Committee, which is the group of Federal Reserve governors who determines the route of our nation’s economic policy, released their statements on Tuesday. They introduced a new plan where they will buy Treasury debt in the open market. This action was intended to stop the spread of fear within the marketplace.
But of course there are several elements to consider, and prices are more complicated than this simple rule would suggest. And while it is challenging to make predictions, naturally people will try! In fact, I recall earlier this year the word from authorities was that we could anticipate rates jump at the finish of March, when the fed officially stopped buying property finance loan backed securities.
After the Fed had announced this decision, stocks sold off and benchmark interest rate moved substantially lower.
* According to HSH Associates, the nation’s largest publisher of mortgage loan and consumer loan information, stated: “The economic system is weak, confidence is waning and there does not seem to be a viable remedy to promoting recovery - except time. This suggests a slow-growth, low-rate period for the remainder of the summer. The flight-to-safety which has fostered reduced interest premiums may possibly wane somewhat, specially if stock markets can find some footing, but most likely will not press charges upward by significantly in the course of the forecast period (through September).”
This week prices fell to levels that quite a few people inside mortgage company thought they would by no means see! We are now seeing incredible things happening from the home loan business. We are seeing most lenders offering 4.25% on pace sheets and some are even prepared to go down to 4.125%! Again these rate quotes are only accessible to borrowers whose pricing is not subject to risk based adjustments. If you are looking for a 15 year term, they’re inside 3.75% to 4.00% range.
If you felt entertained by this article then you would likely also be inspired by researching about Current Prime Interest Rate as well as Prime Interest Rate History.
Mortgage Rates: Anything You Want To Know
The final few years have been turbulent times for investors. Unlike the U.S. and other nations, the Canadian housing industry held steady and has been experiencing strength through 2010.
And ought to I refinance?
The Federal Open Market Committee, which is the group of Federal Reserve governors who determines the route of our nation’s financial policy, released their statements on Tuesday. The policy statement didn’t appear to present any main surprise; they just reminded us that the economic recovery that we are taking will be a slow path. They announced a new strategy where they’ll purchase Treasury debt within the open market. This action was intended to stop the spread of fear within the marketplace.
Record home sales from the initially quarter of 2010, are considered to be due to a combination of factors. Pent up demand, low inventory levels and historically low Canada home loan charges were a potent mix of marketplace drivers. As the housing current market becomes much more balanced, with more housing stock becoming available, selling prices really should stabilize and grow at a considerably slower rate. In Ontario and British Columbia, numerous homebuyers also rushed to beat the incoming HST tax.
What does the future hold in store for the Canadian housing market? Home prices are not expected to appreciate as very much as they did within the 1st half of 2010. Therefore, buyers may well uncover that the more affordable listing prices, coupled with fewer buyers rushing in to make bids or multiple offers, will mean far better value for their real estate dollar.
The amount the overnight price will rise is a matter of debate. Some banks, like the CIBC, predict that the in a single day rate will be 2.5% by the end of 2011. Other financial institutions predict the premiums will go even higher. The Royal Bank of Canada plus the Toronto Dominion bank predicts the in a single day fee will rise to 3.5%. Most other primary banks predict somewhere in between, with an average forecast of 3.17%.
After the Fed had introduced this decision, stocks sold off and benchmark interest charge moved considerably lower.
This week charges fell to levels that quite a few people today from the house loan business enterprise thought they would in no way see! We are now seeing extraordinary issues happening in the house loan business. We are seeing most lenders offering 4.25% on charge sheets and some are even prepared to go down to 4.125%! Again these pace quotes are only available to borrowers whose pricing is not subject to risk based adjustments. If you might be looking for a 15 year term, they’re within the 3.75% to 4.00% range.
You can study more about Federal Reserve Prime Rate and Current Prime Lending Rate.
Home Loan Mortgage Modification In Southern California
Able Financial Solutions specializes in Home Loan Modifications in the Southern California area. We’ve gone way above and beyond the call of duty to familiarize ourselves with the unique circumstances home owners contend with from Santa Monica to Riverside; from Orange County to San Diego. Our expertise rests in our ability to understand and connect with the average person dealing with hardships.
At Able Financial Solutions, we pride ourselves in bringing forth factual, up-to-date information that helps struggling and savvy homeowners alike make intelligent and informed decisions about Home Loan Modifications. We also acknowledge there are a lot of Home Loan Modification experts who can make the negotiation process with your lender appear more intimidating than it really is…
We’re not here to necessarily convince you to do business with us (although we appreciate everyone who is drawn to work with us). Our mission of sorts is to increase the positive awareness about Home Loan Modifications, especially as it pertains to the Southern California area where we reside.
Home Loan Modifications in Southern California are an amazing opportunity for any homeowner who seeks out their government supported right for mortgage restructuring!
There are a lot of misconceptions, misinformation, and old truths not yet retold about Home Loan Modifications. If you’re a homeowner in L.A., Riverside, San Bernardino, O.C., or San Diego, listen up: The information we’re inspired to share with you is going to help you tremendously in making the right decision about your ever-expanding mortgage restructuring options.
Let’s get straight to the heart about the Home Loan Modification reality:
- The Obama Administration believes Home Loan Modifications are an essential piece for economic recovery. Obama has created a 75 million dollar federal program that helps people with home loans of less than $729,750 succeed in restructuring their mortgages.
- Lenders like Chase, Bank of America, and Citi Bank (just to name a few) are extremely compliable about approving Home Loan Modifications. Whereas, a couple years ago, Southern California lenders were quite stubborn about approving home loan restructuring of any kind. New precedence about government funding and overseeing has changed the way lenders treat mortgage loan modifications. These are empowering times for homeowners, as much as they are scary for people who don’t know their rights and options. (Note: Individual lenders are more apt to approve different aspects about your home loan modification. Contact Able Financial Solutions now to learn more about your distinctive situation.)
The truth is that Home Loan Modifications are absolutely perfectly suited for anyone unhappy with the structure of their mortgage:loan modification
- Are you paying a loan that’s under water, e.g. no equity?
- Have you been unable to pay your monthly mortgage and need to find a solution immediately to prevent foreclosure?
- Are you already in the midst of foreclosure proceedings and are experiencing a lot of fear about what options you have to save your home?
A lot of people fail to seek out the options they have to restructure their home loans because of fearing the unknown. These ever-changing economic times, while difficult for a lot of people; are also affording YOU the opportunity to renegotiate with lenders in ways that weren’t as possible a few years ago. Lenders in Southern California don’t want an abundance of foreclosed properties. That’s to nobody’s benefit. Don’t let the noise in your head prevent you from taking deliberate action to better your life because of not fully knowing your options. The fact is that Home Loan Modifications are available for anyone in the Southern California area who wants to:home loan modification
- Lower their interest rate.
- Lower their loan principle to be more in harmony with today’s reduced home and property values.
- Stop paying ridiculous monthly payments for their outdated principle loan.
No, you are not helpless.
No, your home loan circumstances are not hopeless; even if you were rejected for a Home Loan Modification in the past.
Able Financial Solutions has special relationships with many of the lenders in Southern California that allow us to complete a modification in 3-5 weeks. Our ability to expedite your Home Loan Modification is a peace of mind we enjoy giving our customers.mortgage modification
When you work directly with Able Financial Solutions, we also take the burden of stress off your shoulders by:
- Determining the outcome of your Home Loan Modification before imparting any financial obligation to you.
- We also work with you to create a monthly payment you can afford before there is any cost to you.
In plain black & white English, there are absolutely no upfront costs for your Home Loan Modification. You can take that to the, um, lender!
Take the first step and contact us today. We’re here to help you become more aware of your specific Home Loan Modification options. More importantly, Able Financial Solutions will give you the freedom to finally leave behind all the stress, worry, doubt, and fear about your cherished home. We proudly facilitate the ability for you to regain your sanity and equilibrium so can live a more hassle free life. Isn’t that what we all want?
You Could Lose More Than Your Home If You Default On Your Mortgage
Homeowners in Canada who are not able to make their mortgage payments are faced with one of two financial solutions, the p rocedures of which are ultimately regulated by the province where the home is located. Homes in New Brunswick, Ontario, PEI and Newfoundland have lending agreements that initiate the main recoupment method using the power of sale. For the provinces of Manitoba, Quebec, Alberts, Saskatchewan and British Columbia, the courts oversee a Judicial sale to reclaim the money owed. Although it is referred to as a Mortgage Foreclosure in Nova Scotia, the method is basically the same as a Judicial sale. For Ontario, both alternatives are available to financial institutions who are dealing with delinquent payments.
Mortgages with the power of sale clause gives all the parties involved in a property the chance to fulfill their contractual obligations without the use of courts. The mortgagee – as well as any statutory lien holders, advisors or claimants – is informed if a payment is more than 15 days late. The two types of power of sale proceedings are dependent on whether the power of sale is contractual which gives the mortgagor 35 days to pay the amount in full, or a statutory power of sale which has a 45 days time period. This could occur with Mississauga condominiums or houses in the area however the proceedings are the same.
In both case, the redemption phase must be completed before the home can be claimed by the lender. This means that, the borrower has the chance to sell the property outright and use the the money generated from the deal to repay the overdue debt to the mortgage company. This gives the borrower the possibility to sell the house on the open market and with the proceeds repay the lender in full. If you are trying to get the highest price or a quick sale for Hamilton real estate that is in a purchaser’s market you might find it hard. With the power of sale option, it is required that the property be sold for the highest market value with documentation indicating that all measures were taken to insure the highest sale price. If you are unable to recuperate the full value of the equity in your home, the lender can sue for the balance. Homes that retain their worth, whether you are search for Halton Hills homes for sale or in Toronto, will have a better chance of protecting a mortgagor from coming up short.
Properties confronted by judicial sales begin with the court system as the mortgage holder must contact them first to be allowed to sell the home if payments are have become overdue. Mortgages written with Judicial sale clauses require that the courts oversee a timetable to settle the claim and act as mediator for any legal disagreements. The emission of an order absolute by the courts frees the mortgagor of needing to be accountable to the lender’s ability to reclaim the entire amount in arrears from the liquidation of the home. The mortgage holder will also have to under an order absolute to compensate any other lenders connected with the home.
The reasoning behind both mortgage procedures — the power of sale and Judicial sale — is to allow the mortgagee an equitable opportunity to keep their property by clearing up the outstanding debt. Payment deferrals or a longer timeline prior to the home will be given over to a mortgage holder can be agreed upon while the mortgagor secures the necessary funds.
What Is Keeping Mortgage Rates Low?
According to data provided by Freddie Mac, current mortgage rates are not adhering the forecasts by industry experts that called for higher rates in 2010.
15 year fixed rate mortgages are in the 4.25% range, their lowest rates since April of 1991. 30 year fixed mortgage rates have been averaging around 4.8%, still at the one of its lowest points historically. One year adjustable mortgage rates have dropped to their lowest point this year. Five year adjustable mortgage rates have also remained fairly consistent.
Current interest rates are holding at historic levels still. In fact, rates on 15 year fixed mortgages recently set another record low rates. Credit conditions among borrowers are also better. Homeowners who were up to date on their mortgage payments outnumbered borrowers who were defaulting on home loans.
Economists had expected mortgage interest rates to rise in 2010, beginning with the Federal Reserve’s completion of $1.25 trillion dollar mortgage-backed securities purchase program. However, since then mortgage rates have continued to remain low. Between late March and the beginning of June, mortgage rates for 30 year fixed loans have dropped 0.2% and 15 year fixed rate mortgages have gone down 0.14%.
Why are Mortgage Rates Still Low?
Some mortgage industry professionals are concerned that these rate drops may not necessarily be a good sign for our economy. They think that mortgage rates are not rising because of the effects of the European economic crisis is pushing investors to more reliable U.S. mortgage investments, which can keep rates low.
It is worth mentioning that interest rate declines in the past have proven fleeting, with rates moving higher after potentially permanent economic solutions have been identified.
While these low rates are good news for buying or refinancing a home, it’s also worth noting that not all borrowers will have equal opportunity to lock-in these low rates. In order to get the lowest mortgage rates available, borrowers typically will need a credit score of at least 720 and a good down payment to buy a home, or sufficient home equity to refinance.
Written by R. Smith: Mortgage Refinancing, Mortgage Quote, New Homes San Diego
Seven Ways To Get Relief From Slipping Under Water
There are seven ways to alter the terms of your mortgage. Learn the details and trade-offs of each below and decide which one is right for you.
Refinance
What is it?In a mortgage refinance, homeowners fundamentally take out a new mortgage that replaces their present one. It is a lot like selling your home to yourself. The value of your property is assessed, just as it would be if it was going to be placed on the market, and you renegotiates the terms of a new mortgage based on the interest rates of the day.
When Does It Work? When housing prices are high and interest rates are low, which explains why refinancing was so popular from 2002 to 2007.
Why Does It Not Work? When housing prices have fallen to the point where homeowners no longer have any equity in the property. This is why the refinancing industry, so busy and active 2 years ago, is practically unheard of today.
Pros: When done at the right time, refinancing can give homeowners cash in their pocket (if the value of their home increased since they took out their last mortgage), and lower monthly payments (if interest rates have fallen, or their credit rating has increased, since they took out their last mortgage).
< p>Cons: Fees, fees and more fees. Because you’re basically selling your home to yourself, all of the assessment fees, escrow fees and handling fees you paid when you first bought your property still apply.
Repayment Plans
What Is It? Mortgage repayment plans are a great solution to temporary hardship on the part of a homeowner. This solution involves the lender temporarily modifying the terms of a mortgage so that the homeowner can enjoy lower payments in the short-term at the expense of higher payments or longer time periods in the future. It is essentially a case where the lender bets that you, the homeowner, are a good investment; that you are likely to overcome your temporary setback and fulfill your mortgage.
When Does It Work? If a homeowner has a great relationship with a lender, and if the lender itself is on a sound financial footing, repayment plans are the best option for everyone involved. They are revenue neutral for lenders, and homeowners are all in all generally happy to endure stricter long-term conditions in exchange for temporarily relief when they need it most.
When Does It Not Work? When lenders are receiving billions of dollars in government bail-outs because they are not financially sound, or when high unemployment makes it unlikely that a homeowner’s hardship will be temporary.
Pros: Least costly option for both the lender and the homeowner.
Cons: Too conditional. The national unemployment rate and the global financial crisis simply makes it too difficult for lenders and homeowners to credibly negotiate a repayment plan.
Forbearance
What Is It? Forbearance is a temporary suspension of monthly mortgage payments. It is generally used for temporary hardships that are foreseen in advance by homeowners and lenders. Setbacks such as death, divorce, unemployment or illness are widely accepted as temporary hardships by lenders.
When Does It Work? Similar to repayment plans, the forbearance solution is only possible when lenders are financially stable and when are confident that a homeowner’s hardship is temporary.
When Does It Not Work? Again, similar to repayment plans, forbearance agreements are unlikely to be negotiated when lenders themselves are in financial difficulty, and when homeowners are facing a challenging labor market.
Pros: Homeowners do not have to make any mortgage payments for several months, and lenders get to roll the suspended payments into the rest of the mortgage principal and earn higher returns in the future.
Cons: In exchange for a temporary respite, homeowners must pay back a larger sum then their initial mortgage stipulated.
Deed In Lieu
What Is It? When a homeowner turns over their property to their lender in exchange for (”in lieu of”) terminating their mortgage obligations. This is not the same as “walking away from a mortgage”, which is actually foreclosure. With Deed In Lieu, the lender must agree to take dominion of your property in exchange for relieving you of all subsequent mortgage payments.
When Does It Work? When the value of a property is still relatively high, i.e. less than 5% below the value of an owner’s mortgage. Prior to the housing crisis in America hitting full swing, Deeds In Lieu were great ways for banks and owners to avoid the high costs and staining legacy of foreclosure.
When Does It Not Work? When housing prices have plummeted to the point where lenders no longer wish to take over ownership of a property in exchange for relieving a mortgage obligation. In today’s market, lenders will lose too much money if they agreed to Deeds In Lieu so the incentive for negotiation just isn’t there.
It delivers all of the benefits of foreclosure for both owners and lenders without the disadvantages: High costs for lenders, a giant “F” on a credit report for owners.
Cons: Owners do not get to stay in their homes, and lenders must now find a way to sell the property they just received the deed to.
Short Sales
What Is It? When a owner sells a property for less than the value of the mortgage and turns all of the proceeds from this sale over to the lender. The lender agrees to this sale because the entire mortgage will paid off quickly. The lender is losing money by not enjoying years of interest payments, but short sales can occasionally be the “least bad option” available for both parties involved.
When Does It Work? When a short sale is likely to provide the lender with a sufficient return over the short-term for it to allow the owner to proceed with the sale.
When Does It Not Work? When housing prices have fallen to the point where properties cannot be sold, or if the money likely to be earned from a sale is sufficient for the lender to agree to it.
Pros: Slightly cheaper than foreclosure, but still incredibly expensive. Owners do achieve a timely, albeit brutal, relief from their mortgage obligations.
Cons: Owners do not get to remain in their homes, and the process generally results in a tremendous loss of money for both owners and lenders.
Foreclosure
What Is It? When a owner announces to a lender that he or she is no longer able to meet the terms of a mortgage, or when a lender declares that a mortgage is in default and it is taking control of a property. The mortgage lender then becomes the owner of the property and must find some way to sell it and make a little profit in the future.
When Does It Work?Foreclosure is constantly an option, although it is absolutely not a good one. It is the last and final solution available for lenders and owners. No one likes it, everyone is hurt by it, but it does remove the mortgage obligation for the owner.
When Does It Not Work? Never. Foreclosure is always an option.
Pros: Difficult though it may be, foreclosure does terminate a mortgage and provide relief to the owner, at the cost of a seven-year stain on the owner’s credit rating (the big “F”).
Cons: Foreclosures take between 150 and 390 days to complete depending on the state a property is located, and costs lenders an average of $50,000 per property to complete. That cost is endured even before the lender is able to resell the property, which could result in even greater losses given the scope of the national housing crisis. As for owners, those who foreclose are financially ruined and removed from their home.
Loan Modification
mortgage modification Is It? A negotiation between between a lender and an owner to change one or more of a mortgage’s five key terms.
When Does It Work? Almost all the time, although the probability of success is higher or lower depending on the situation. Adjustable-rate mortgages at high interest rates are automatically accepted for modification. Fixed rate mortgages at low interest rates are rarely accepted, but there’s always a chance for success.
home loan modification Does It Not Work? The leading cause of rejected modification applications is homeowners failing to understand and navigate the system correctly. In the hands of a professional team like Able Financial Solutions, owners can achieve the strongest possible bargaining position for the loan modification negotiation, increasing the likelihood of success.
Less expensive than foreclosure or short-sales for lenders, which increases the chance that lenders will completely negotiate in good faith. If successful, owners are able to stay in their homes, achieve financial relief and endure a less painful impact on their credit-rating.
Cons: Because owners must personally negotiate with lenders, loan modification can be a scary, nerve-wracking process. But with a team like Able Financial Solutions, owners can develop a calculated strategy for success and can negotiate with confidence that the best interest of both them and the lender.
7 Year Penalty For Walking Away From Mortgage
Walking away from a mortgage can now result in a 7 year penaly imposed by Fannie Mae.
In an effort to mitigate losses incurred from borrowers walking away from their mortgage because they owe more than the home value, Fannie Mae said that those who had the capacity to pay the mortgage or did not attempt a foreclosure alternative program would not be eligible for a mortgage for a 7 year period.
High loan to value mortgages and falling home values put many homeowners in a situation where they are “underwater”, owing far more than their home is worth. Walking away from the mortgage creates ethical as well as credit issues, but has become more of an acceptable choice, even with homeowners who can still afford to make their mortgage payments.
Fannie Mae, one of the primary sources of home financing in the U.S., continues to face major losses from mortgage defaults and foreclosures. Their plan is to try and prevent more losses by threatening to lock out “strategic defaulters” from financing another home for 7 years after a foreclosure. Borrowers who show extenuating circumstances or attempts to prevent the foreclosure, such as a loan modification, may have the waiting period reduced to 3 years.
Some advocates claim this policy change is necessary to discourage the growth of strategic mortgage defaults, there are others who say the move by Fannie Mae has the potential of derailing the recovery of the housing market. Their argument is that those who strategically walk away from a mortgage is because of negative equity, but they still have jobs and the required income to qualify for buying another home. Locking out these potential home buyers may reduce the demand for homes, which could affects home sales and eventually home values.
Will Fannie Mae’s strategy of trying to lock out borrowers who strategically default on their mortgage really work? Not unless other government sources of home financing, such as, Freddie Mac and FHA adopt similar restrictive mortgage default policies. Also, having a foreclosure added to a credit report can prevent a borrower from qualifying for a mortgage for at least two years, which may be a sufficient deterrent for borrowers who still have good credit.
The motivation for a strategic mortgage default may depend on how deep a borrower is underwater on their home. Having a mortgage that’s twice the value of a home could be somewhat discouraging. The idea of being stuck with a bad real estate asset that may not reach a break-even point for many years may be enough motivation to walk away.
Written by R. Smith: Home Loan, Mortgage Quote, New Homes Chula Vista
Who Is Able
Who Is Able?
Able = Gifted
If we were to pinpoint the gift you’ll discover by working with us at Able Financial Solutions; it’s our ability to connect with people who are experiencing hardships. We understand the emotional charge you have about potentially losing your home. We are here to help you separate fact from emotion. The more we can help you get real about your particular circumstances, the better chance we have at succeeding in being approved for your Home Loan Modification.
Able = Capable:
Able Financial Solutions is capable of assisting you in accomplishing three main tasks:
Organization: We help you organize your paperwork… We need the following paperwork in order to begin the Home Loan Modification process:mortgage modification
· Your last two years of federal income taxes.
· Mortgage statements.
· Homeowners insurance.
· Property tax bill.
· Utility bills.
· Any legal notices from lender.
· W-2’s from last two years.
· Current and past two months bank statements.
· Profit and loss from your business if that’s your source of income.
- Clarity: Supporting you in creating a well-thought-out blueprint for how WE are going to approach your Home Loan Modification. After all, everybody’s circumstances are completely unique. It’s our collective responsibility to as eloquently as possible describe your hardships. Your hardship letter is an essential component in determining how your lender is going to interact with us during negotiations. Equally, your hardship letter gives us at Able Financial Solutions a clearer understanding about what you’ve gone through. Our ability to connect with you is what makes us the powerful representation you need.
- Acceptance: Lastly, we’ll help facilitate for you a grounded perspective about your situation. It’s important to understand that your lender isn’t emotionally attached to your home. You are. The only objective your lender has is to receive your monthly mortgage payment. While your hardship letter/affidavit will help us demonstrate cause for your non-payments, it’s also a powerful tool for you to come full circle about your present circumstances.loan modification
Able = Tenacious
Able Financial Solutions is tenacious about getting you the best restructuring of your loan that’s possible. Some of the results we’ve achieved for people who’ve work with us have been absolutely dramatic. Here’s an example of a just completed applicant:
- Signed documentation for a loan modification May 26th 2010; received complete modification June 23rd 2010.
- Client had not made a payment since July of 2009; past due amount was $35,318, including late fees.
- Monthly payment was $3,335 @ 6.75 % A.P.R. interest rate.
- We cut the loan payment down to $1,727 for the next 5 years! Yes, that includes taxes and insurance. That’s an out of pocket savings of $1,608… Not including the amount of money they’ll save from a lower interest rate.
- After the first five years, the interest rate becomes 4% for the duration of the loan (21 years).
- The $35,318 past due has been stripped from the loan. (Note: These clients had tried for over a year and a half on their own to complete the modification.)
Able = Honest
Able Financial Solutions isn’t a group of lawyers, although we utilize three different law firms, depending on the circumstances. We’re every day people who know and understand that we live in turbulent times. There are a lot of Home Loan Modification companies taking your money before they even know if you qualify for mortgage restructuring. Able Financial Solutions receives no compensation from you until your Home Loan Modification goes through.
It’s our mission to continue giving Home Loan Modifications a good name, because we know the value this service has for struggling people like you. No, we can’t erase the negative association some people have about Home Loan Modifications, but we can continue providing honest and compassionate services for those who might lose their property otherwise.loan modification
Able = Efficient
Able Financial Solutions knows time is of the essence for you. We know this is your life at stake, and it’s our undying intention to keep you up-to-date and involved with your Home Loan Modification.
We are also easily accessible for you to receive the latest information about your Home Loan Modification should you feel the need to pick up the phone and call us. We know the weight that your Home Loan Modification approval has on your physical and emotional well being. Our desire is to make your Home Loan Modification process as seamless and efficient as possible.
Able = Empowerment
On the other side of fear and stress is the feeling of empowerment. Able Financial Solutions helps you transform your trepidations about losing your home into relief. Imagine how it will feel going from believing you were losing your home to being ABLE to afford keeping your beloved residence after your mortgage restructuring is complete.
Can you feel the hope?
Can you already experience the sensations of reprieve, relief, and empowerment inside of your body?
Able Financial Solutions can help get you from where you are to the place of empowerment you desire so intensely to feel.
Able = Action
We have all the expertise you need to successfully be approved for a Home Loan Modification. However, we need you to pick up the phone or email us… let us know you’re ready to change your life for the better. Able Financial Solutions knows this can feel like a scary path to take. Feel the fear and do it any ways. We’re ready, willing, and ABLE to determine if a Home Loan Modification is the right decision for you to make.
Take action; call us today!
Easy Home Loan Modification Program
10-2-30 Home Loan Modification Formula by Able Financial Solutions
Whether or not you should be able to freely modify your home loan has been a topic of heated debate in Washington D.C. Just months ago, Home Loan Modification Programs were perceived by lenders a lot differently. Taking into account the shaky legislative ground surrounding the support of modifying home loans, many owners were stepping into unknown territory. Most homeowners ventured into their Home Loan Modification without a clue of their timeline, or whether approval was even possible.mortgage modification
Depending upon who your lender was, Home Loan Modifications could be very shady to say the least…
The programs of the past had no structure for time, and ultimately perpetuated those at risk of feeling indecisive and uncertain about walking the path less taken. In other words, all the power was in the hands of the lenders.
In the past, lenders like Bank of America used to reject Home Loan Modifications as a matter of fact. The tides have changed; now you have the power… Bank of America and other lenders are now REQUIRED to approve Home Loan Modifications for homeowners who own property worth $729,750 or less; as long as your paperwork is filled out correctly and you can prove hardship.
This is the time to take advantage of new laws set in place by the White House that enable you to see results fast. And with Able Financial Solutions, we make it even faster and more convenient for you than ever.
STOP PROCRASTINATING!
With our signature 10-2-30 formula, you can see results in as short as a month. Here’s how it breaks down:
- Able Financial Solutions has created a 10 minute interview process that will help determine if a loan modification is correct for you. We’ll assess whether your loan will qualify for the Federal Making Homes Affordable program, or if perhaps another solution would be more suitable.
- Once we have all of your information and conclude you are eligible for a modification, one of our senior analysts will present your case to our team within 2 days of your initial consultation. During this meeting, our team will decide if your loan is exempt from any extenuating circumstances preventing it from being completed in the now standard 30 day timeline.loan modification
- If we believe moving forward with Home Loan Modification is the most appropriate decision to make, we will begin to teach you how to draft your Hardship Affidavit/Letter. We’ll also help get together all the necessary paperwork your specific lender requires from you for your Home Loan Modification. Once everything is ready to go, we will submit your Home Loan Modification application to your lender and begin the negotiation process. Again, most of our clients see their Home Loan Modifications completed inside of 30 days (in accordance with HAMP – Home Affordable Modification Program.)
Why Use Able Financial Solutions for Your Home Loan Modification?
Able Financial Solutions is absolutely meticulous about getting your Home Loan Modification done correctly. One simple mistake can make the difference between being approved and not, even if you qualify under the Home Affordable Modification Program. Mistakes can also determine if your modification doesn’t lower your interest rate, monthly payment, or even principle amount owed as much as it can should Able Financial Solutions represent your best interests.
Able Financial Solutions is here to guarantee you get the treatment and results you deserve! Able Financial Solutions ensures WE meet the specific requirements of your lender and perform the Home Loan Modification as seamlessly as we can.
Able Financial Solutions Makes Sure You Get The Results You Deserve!
Able Financial Solutions is at the forefront in helping people become more aware about how Home Loan Modifications have changed in the recent past; as evident in this article.
When you pick up the phone and talk to one of our analysts, you will have an almost immediate understanding about your options and how to move forward. We’re not here to sell you on getting a Home Loan Modification. Able Financial Solutions is about clearing away all the noise in your head that’s keeping you from taking deliberate action!home loan modification
If you do qualify for a Home Loan Modification, Able Financial Solutions guarantees you receive the results you unconditionally deserve, or we receive no financial compensation from you at all.
Our success depends upon your approval and results.
