The moment you decide to apply for Countrywide loan modification, you will have to add a financial hardship letter to your application. This letter is considered very important, the lender needing to be aware of the circumstances that have led you to default on the loan. Try to make it as compelling as possible, including all the details that you think might be of help. The hardship letter will also have to contain an explanation on how you plan...more
Obama's loan modification - the Affordability and Stability Plan - has been created with the aim of helping millions of Americans stay in their homes. Homeowners have been informed about this intelligent plan through various methods, with the eligibility criteria being present online, in the newspaper and of course, on television.We will present to you a few of the eligibility criteria but you should know that there are several others that might...more
Many homeowners tremble at the thought of losing their homes. Not everyone can avoid foreclosure and those who do, sometimes can't help getting in financial difficulties. Obama's loan modification plan has spread some hope over the entire country, particularly to those who were at risk of foreclosure. The plan is to prevent foreclosure from happening.The whole purpose of the loan modification plan is to make mortgage payments affordable, regardless of the income of the borrower. The initiative is mainly aimed at those who are at risk of foreclosure, and the specifics are still in development. There is a lot of frustration where one of the eligibility criteria is concerned, meaning the fact that one has to have a loan at Fannie Mae or Freddie Mac. This subject has been discussed over and over again, and solutions are being put forward for consideration constantly.If you find yourself unable to meet mortgage payments and you are scared about a potential foreclosure process, then you should definitely go ahead and find out more details about the loan modification program that President Obama has proposed. One of its greatest benefits is that the interest rate is reduced to as low as...more
It goes without saying that the federal government's loan modification plan is going to make mortgage payments more affordable. The lender will be responsible for modifying the rates, changing the loan balance or forgiving previous missed payments. In general, the lending institution will discuss the terms of the arrangement with the borrower,...more
Obama's federal loan modification plan is a solution designed to help delinquent homeowners. Thanks to the introduction of this program, lenders will be more inclined to change the terms of a loan and make payments more affordable. Millions of borrowers need help, have defaulted on their existing mortgages and are losing their properties. Today...more
The two programs planned under Well Fargo loan modification have different eligibility requirements. The program based on the interruption of the foreclosure process and the proposal of a new payment plan excludes from the start those who are facing bankruptcy. The same goes for foreclosed properties that are only one month away from being sold and for loans that were not taken on residential properties.The second loan modification plan proposed by Wells Fargo focuses on helping subprime mortgages that have an adjustable mortgage rate. In order to qualify for this plan, the loan should have been taken somewhere between the start of 2005 and 2007. Another eligibility criterion refers to the scheduling period of the loan for the readjustment of the introductory interest rate. Borrowers are also required to prove their income, as well as to add a letter of financial hardship to their application. It is a known fact that a complete application increases ones' chances of loan modification approval.Applications are easily rejected if the borrower has no idea how to calculate the debt ratio or if the financial hardship letter is not convincing. Filling in the requested financial...more
The housing market has been affected by the economic crisis, property values falling fast. Millions of people are unable to meet their mortgage payments, have lost their jobs or are suffering a reduction of their income. These circumstances are...more
Startup businesses should consider that a successful business marketing plan has little to do with a gut feeling or a hunch; it is rather based on sound market research. A competitive advantage will be given to any small business that realizes this....more
The internet and make money scams - what a duo! It's true, the internet is an amazingly useful tool. At the same time, the anonymous nature of the internet makes it very easy for less than honest individuals or companies to make misleading claims and...more
The steps below clearly explain how to create a realistic budget; how to consolidate your credit cards; how to reduce the amount of interest that you're paying; and how to make fewer payments.Step one involves creating a realistic monthly budget,...more
Navigating the treacherous waters of the Internet to buy promotional products can be daunting, however when done properly, this experience can save considerable time and money. Ten years ago, industry insiders would have never imagined that what has...more
Similar to many other forms of etiquette, proper manners when dealing with business cards are common sense at their core. However, these common sense responses surprisingly need to be learned by a good amount of the public. Very few individuals have...more