Comments on: Loan modification and refinancing

By: Hallie

Hallie — Mon, 08 Feb 2010 12:28:58 +0000

Thank you for the information. I have been trying to avoid foreclosure bigtime and this helps me put things in perspective

By: Bill Farragher

Bill Farragher — Sat, 06 Feb 2010 17:57:02 +0000

One thing that I have been recommending to my past clients when it comes to refinancing is to take into consideration how long they have been making payments and if they can cut the term down by doing the refinance otherwise they are resetting the 30 yr clock and literally throwing away thousands of dollars. I just talked with a client the other day who has paid for the last 2yrs with a 6% rate and was thinking about going for a 4.5%, they were going to reset the clock and would have thrown away over 50K. Where as if they refi @ 25 yrs they will save appox 75K. Which do you think they will do?
Bill

By: Minneapolis Real Estate

Minneapolis Real Estate — Thu, 04 Feb 2010 01:21:54 +0000

Unfortunately, the modification programs don’t extend across all mortgage platforms. For example, FHA, VA, Jumbo,Alt A, USDA and other subprime loans DON’T qualify for the Making Home affordable program.

By: Feldman

Feldman — Mon, 01 Feb 2010 08:04:16 +0000

Wow, free and useful information that doesn’t come across as a sales pitch. It’s all too uncommon, which makes me very happy to have found this. Thank you for sharing some solid and unbiased info.