I’ve blogged in the past about positive attitude and taking personal responsibility for maintaining a focus on fiscal steadfastness. I want to share with you some wisdom that addresses these same issues. These thoughts are from the pastor of my church. No matter what your particular faith may be, the impact of facing crisis with trust and faith in God gives each of us hope and peace in these turbulent times.
To paraphrase his words: Bail out, recession, layoffs, and foreclosure -- all are media headline material, and it’s hard to ignore that a national and global crisis exists. Most of us are impacted by, or know someone being impacted by, our current economic crisis. There are different types of crisis we encounter in daily life. It’s not a matter of IF a crisis will come, but WHEN it will come. It could be when a death of a family member occurs, a job is lost, someone we care about is assaulted, a divorce, or a diagnosis of cancer.
How do we respond to this? What is a biblical response to crisis? We need to look to the response we choose when crisis comes, no matter the cause of the crisis.
Pastor Anderson shares wonderful passages and stories of persevering, standing firm in faith, a biblical response to crisis. He talks of four central truths about God and these affirmed in the face of any crisis, will help us have a Godly response to crisis:
1. God is in control
2. God has a plan for the world
3. God has a plan for me
4. I can trust God
I encourage you to click on the link provided to listen to the sermon “Trusting God in the Face of Crisis”:
http://vineyardop.org/Site Resources/Modules/MinistryTools/Sermon/default.asp
As always, any of us here at InSight Mortgage Group will be happy to assist you with your mortgage needs or questions. Please call us at 913-642-3334 or email me at michele@wantinsight.com May God bring you peace now and in your time of crisis.
Showing posts with label stop foreclosure. Show all posts
Showing posts with label stop foreclosure. Show all posts
Monday, March 30, 2009
Friday, October 3, 2008
MORTGAGE RELIEF PROGRAM
MORTGAGE RELIEF PROGRAM
On Wednesday, Oct.1, a government program took effect which will change the financial picture of many home purchasers and homeowners.
A program, known as ‘Hope for Homeowners’, is part of a huge housing bill passed this summer by Congress, as an effort to help alleviate the mortgage crisis. Its goal is to prevent foreclosures by allowing borrowers in default, and those in
distress, close to default, to refinance their mortgages to more affordable loans.
$300 billion is allocated for the refinance to fixed rate FHA insured loans, at no more than 90% of current market value. Also, borrowers mortgage payments must exceed 31% of their income to qualify. NOTE: loans originated in 2008, except Jan 1 are excluded. Additionally, 6 months of payments must have been made by borrowers.
But, the impact on the foreclosure rate is questionable, as lenders are not required to participate in the program. The lenders actually take a loss on the original loans. However, lenders from the top mortgage businesses indicated they’re adding new staff to assist the implementation of the program.
Other noteworthy issues addressed:
• Seller funded down payment assistance programs for FHA loans have been eliminated.This will practically eliminate no down payment offers. This ban was requested by the FHA, citing the 3 times higher default rate for down payment assisted loans over the traditional FHA loans. Also, they feel market values are inflated with those programs.
• A one-year freeze on “risk-based” FHA loan insurance premiums is in effect. The risk-based program charged borrowers on the basis of the likelihood of the loan repayment.
• FHA-insured loans on condominiums has been streamlined.
• The FHA loan process for manufactured homes has been reformed.
• A new program has been put in place for generating alternative credit-rating information for people with little credit history.
• Reverse-mortgage borrowers are affected by a requirement for “adequate counseling” from a third party not tied to the lender. The government, with funds from mortgage insurance premiums, can create a counseling program.
• Possible conflicts of interest will be reduced due to reverse-mortgage loan originators being forbidden from selling annuities, insurance or other financial products.
• A cap of $6000 was placed on origination fees, and can be adjusted periodically for inflation.
If you have questions or comments, please call me or email me at 913-642-3334 or michele@wantinsight.com
Michele “MAC” A. Cole
913-642-3334
www.wantinsight.com
On Wednesday, Oct.1, a government program took effect which will change the financial picture of many home purchasers and homeowners.
A program, known as ‘Hope for Homeowners’, is part of a huge housing bill passed this summer by Congress, as an effort to help alleviate the mortgage crisis. Its goal is to prevent foreclosures by allowing borrowers in default, and those in
distress, close to default, to refinance their mortgages to more affordable loans.
$300 billion is allocated for the refinance to fixed rate FHA insured loans, at no more than 90% of current market value. Also, borrowers mortgage payments must exceed 31% of their income to qualify. NOTE: loans originated in 2008, except Jan 1 are excluded. Additionally, 6 months of payments must have been made by borrowers.
But, the impact on the foreclosure rate is questionable, as lenders are not required to participate in the program. The lenders actually take a loss on the original loans. However, lenders from the top mortgage businesses indicated they’re adding new staff to assist the implementation of the program.
Other noteworthy issues addressed:
• Seller funded down payment assistance programs for FHA loans have been eliminated.This will practically eliminate no down payment offers. This ban was requested by the FHA, citing the 3 times higher default rate for down payment assisted loans over the traditional FHA loans. Also, they feel market values are inflated with those programs.
• A one-year freeze on “risk-based” FHA loan insurance premiums is in effect. The risk-based program charged borrowers on the basis of the likelihood of the loan repayment.
• FHA-insured loans on condominiums has been streamlined.
• The FHA loan process for manufactured homes has been reformed.
• A new program has been put in place for generating alternative credit-rating information for people with little credit history.
• Reverse-mortgage borrowers are affected by a requirement for “adequate counseling” from a third party not tied to the lender. The government, with funds from mortgage insurance premiums, can create a counseling program.
• Possible conflicts of interest will be reduced due to reverse-mortgage loan originators being forbidden from selling annuities, insurance or other financial products.
• A cap of $6000 was placed on origination fees, and can be adjusted periodically for inflation.
If you have questions or comments, please call me or email me at 913-642-3334 or michele@wantinsight.com
Michele “MAC” A. Cole
913-642-3334
www.wantinsight.com
Monday, August 25, 2008
Save Your Home From Foreclosure and Save Your Credit
ARE YOU UP AT NIGHT?
Worrying because your adjustable rate mortgage is going to reset and you can't afford the new payment? Maybe you owe more than your house is worth? Or you're unable to get a new loan because your credit is less than perfect? Maybe you're 30, 60, or even 90 days late on your mortgage. Perhaps NOD or foreclosure proceedings have already begun!
Stop collection calls! Stop your foreclosure! Stop Stressing! Let us handle your lenders and their attorneys for you.
I’ve tried refinancing, but everyone says that they can’t help?
If you’re in a position with less than perfect credit or if you now owe more in loans than your home is worth, there are several solutions that can still benefit you. Recently the government has passed several laws making it easier for someone with good intentions to keep their home and keep their low monthly payments. Is your mortgage adjusting or going to adjust? We are now feeling the recourse of all the adjustable mortgages that were started in 2004 and 2005. Many people are losing their homes now that they are no longer able to afford the initial “teaser” rate. How can you be expected to pay an additional $500-$1000 per month on your mortgage? We can help you by setting up a new plan with your lender, and keeping your payments where you are able to continue living comfortably.
Stop Foreclosure with Loss Mitigation Programs
Loss mitigation programs were established by the federal government and the mortgage industry in order to stop home foreclosures. They help foreclosure victims in default on their mortgages to find alternatives to home foreclosure. Every homeowner’s situation is unique and each lender has their own policies regarding the use of these programs to stop foreclosure. Our extensive experience and solid working relationships with mortgage lenders allows us help you avoid the common pitfalls that many homeowners encounter while trying to work things out directly with their lender. After performing a thorough assessment of your personal finances and analyzing your lender’s loss mitigation policies our professional loss mitigators will negotiate with your lender to get you the best possible solution to your home foreclosure problem. We can help you save your home and credit history through a variety of loss mitigation options:
Time is your enemy!
The longer you wait, the harder it is for us to help you. Yes, we often do pull clients out of the fire at the last minute but consider this... If your house payments are more than a month behind, your lender has probably already started foreclosure proceedings against you. As time passes, thousands of dollars in penalties and legal fees can be added to the balance you owe. And every single day the interest charges are growing.
Sometimes homeowners are not even aware how far their foreclosure has progressed. We talk to people almost every day who did not even know their house had already been sold at auction. Please don't let that tragedy happen to you! If you would like to stop foreclosure, protect your assets and credit history 913-642-3334 or visit us at http://www.wantinsight.com/ to talk with a consultant. You’d be glad you did!
If you are looking for a realistic long term solution to your financial problems? For a FREE no obligation consultation on how we can help you stop foreclosure, save your home and preserve your credit history.
“Helping our Community Save Their Home”
Customize Approach
Too many banks use a “one size fits all” approach with homeowners in foreclosure. Your situation is unique. You deserve to get a fair and personalized settlement from your lender. We stop foreclosure by taking the time to listen to your concerns, assess your financial needs and then negotiate a mortgage workout that YOU can live with.
Professionalism We get your bank to pay attention to your needs because they know and trust us. We have been stopping foreclosures for many years. During that time we have successfully rescued a multitude of families from the devastation of foreclosure. Our chief mitigator has over 15 years' experience in Real Estate. That kind of experience and track record in the industry gives us credibility with your lender. Our integrity and professionalism help us to be heard when no one else can get through the red tape.
Established Contacts Our staff of full time mitigators works with the key negotiators and decision makers at lending institutions across the country on a daily basis. They speak the language and understand what it takes to break through the bureaucracy to get your case heard.
We will use our experience and relationships to your advantage. Please don’t delay. Act today while hope remains.
Michele “MAC” A. Cole
http://www.wantinsight.com/ Information provided by Emodications...
Worrying because your adjustable rate mortgage is going to reset and you can't afford the new payment? Maybe you owe more than your house is worth? Or you're unable to get a new loan because your credit is less than perfect? Maybe you're 30, 60, or even 90 days late on your mortgage. Perhaps NOD or foreclosure proceedings have already begun!
Stop collection calls! Stop your foreclosure! Stop Stressing! Let us handle your lenders and their attorneys for you.
I’ve tried refinancing, but everyone says that they can’t help?
If you’re in a position with less than perfect credit or if you now owe more in loans than your home is worth, there are several solutions that can still benefit you. Recently the government has passed several laws making it easier for someone with good intentions to keep their home and keep their low monthly payments. Is your mortgage adjusting or going to adjust? We are now feeling the recourse of all the adjustable mortgages that were started in 2004 and 2005. Many people are losing their homes now that they are no longer able to afford the initial “teaser” rate. How can you be expected to pay an additional $500-$1000 per month on your mortgage? We can help you by setting up a new plan with your lender, and keeping your payments where you are able to continue living comfortably.
Stop Foreclosure with Loss Mitigation Programs
Loss mitigation programs were established by the federal government and the mortgage industry in order to stop home foreclosures. They help foreclosure victims in default on their mortgages to find alternatives to home foreclosure. Every homeowner’s situation is unique and each lender has their own policies regarding the use of these programs to stop foreclosure. Our extensive experience and solid working relationships with mortgage lenders allows us help you avoid the common pitfalls that many homeowners encounter while trying to work things out directly with their lender. After performing a thorough assessment of your personal finances and analyzing your lender’s loss mitigation policies our professional loss mitigators will negotiate with your lender to get you the best possible solution to your home foreclosure problem. We can help you save your home and credit history through a variety of loss mitigation options:
Time is your enemy!
The longer you wait, the harder it is for us to help you. Yes, we often do pull clients out of the fire at the last minute but consider this... If your house payments are more than a month behind, your lender has probably already started foreclosure proceedings against you. As time passes, thousands of dollars in penalties and legal fees can be added to the balance you owe. And every single day the interest charges are growing.
Sometimes homeowners are not even aware how far their foreclosure has progressed. We talk to people almost every day who did not even know their house had already been sold at auction. Please don't let that tragedy happen to you! If you would like to stop foreclosure, protect your assets and credit history 913-642-3334 or visit us at http://www.wantinsight.com/ to talk with a consultant. You’d be glad you did!
If you are looking for a realistic long term solution to your financial problems? For a FREE no obligation consultation on how we can help you stop foreclosure, save your home and preserve your credit history.
“Helping our Community Save Their Home”
Customize Approach
Too many banks use a “one size fits all” approach with homeowners in foreclosure. Your situation is unique. You deserve to get a fair and personalized settlement from your lender. We stop foreclosure by taking the time to listen to your concerns, assess your financial needs and then negotiate a mortgage workout that YOU can live with.
Professionalism We get your bank to pay attention to your needs because they know and trust us. We have been stopping foreclosures for many years. During that time we have successfully rescued a multitude of families from the devastation of foreclosure. Our chief mitigator has over 15 years' experience in Real Estate. That kind of experience and track record in the industry gives us credibility with your lender. Our integrity and professionalism help us to be heard when no one else can get through the red tape.
Established Contacts Our staff of full time mitigators works with the key negotiators and decision makers at lending institutions across the country on a daily basis. They speak the language and understand what it takes to break through the bureaucracy to get your case heard.
We will use our experience and relationships to your advantage. Please don’t delay. Act today while hope remains.
Michele “MAC” A. Cole
http://www.wantinsight.com/ Information provided by Emodications...
Subscribe to:
Posts (Atom)
What's Next?
1 CORINTHIANS 16:9 “For a wide door for effective work has opened to me FIRST AND FOREMOST - I WANT TO SAY THANK YOU SOOOOO MUCH FOR LIFT...
-
Proverbs 12:15 The way of a fool is right in his own eyes, but a wise man listens to advice. Quote by John Wimber As I just blogged on Am... -
2 Chronicles 7:14 says, “ If my people who are called by my name humble themselves, and pray and seek my face and turn from their wicked w...