Archive for the ‘Uncategorized’ Category

Homes For Rent In Arizona If Your Loosing Your Home To Foreclosure.

Tuesday, November 24th, 2009

homes-for-rent-in-az

GoRenter.com Has Homes For Rent In Arizona If Your Loosing Your Home To Foreclosure.

At AML we understand how difficult it can be to loose your home to foreclosure.  The pressure of piling up bills and relentless phone calls from bill collectors alone is stressful enough…now add it trying to find a new place to live .  That is why we wanted to let you know about GoRenter.com.  Arizona property management company GoRenter.com has hundreds of available homes for rent if you are searching for a suitable rental property in AZ.  They property managers are experienced and knowledgeable about Arizona neighborhoods and school districts and their clear cut rental contracts make renting a home fast and easy.  Their website www.GoRenter.com has an interactive map that makes finding a rental home from your computer a breeze.  Plus GoRenter.com has great customer service and a maintenance division that responds quickly to any needed repairs to your new rental home.  The reason we wanted to tell you about this company is because we want to help you find homes for rent in Arizona before you loose your home to foreclosure.

So if you are searching for a home for rent in AZ then check out property management company GoRenter.com’s website or give them a call at 602-512-4406 today!

Here is an expert from the GoRenter.com website:

GoRenter.com is a leading provider of professional residential property management services in the Phoenix-Metro area. We are dedicated to maximizing the return on investment for our clients while maintaining quality housing opportunities for our residents. We manage all residential properties including single family homes, condominiums, townhomes, and duplexes. Our mission is to offer personalized and professional service to both our clients and customers by building strong relationships, utilizing the latest technology, implementing effective marketing strategies, following consistent systems all with honesty and integrity throughout every facet of our business. We are confident that our team will exceed the industry standards in the service we provide.

Areas of the Valley GoRenter focus’s property management services in:

Phoenix Property Management, Mesa Property Management, Tempe Property Management, Scottsdale Property Management, Chandler Property Management, Gilbert Property Management, Glendale Property Management, Ahwatukee Property Management, Laveen Property Management, Avondale Property Management, Surprise Property Management, Anthem Property Management, Prescott Property Management, Cave Creek Property Management, Carefree Property Management, Arizona Property Management Company

Searching for a rental property in the greater Phoenix area? GoRenter.com offers plenty to choose from in the following cities:

Phoenix Homes For Rent, Mesa Homes For Rent, Tempe Homes For Rent, Chandler Homes For Rent, Gilbert Homes For Rent, Scottsdale Homes For Rent, Avondale Homes For Rent, Anthem Homes For Rent, Glendale Homes For Rent, Laveen Homes For Rent, Surprise Homes For Rent, Anthem Homes For Rent, Prescott Homes For Rent, Cave Creek Homes For Rent, Carefree Homes For Rent, Arizona Homes For Rent, Ahwatukee Homes For Rent, Arizona SEO Consultant

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Adjust My Loan Assists Taylor Bean Customers Through the Fallout

Thursday, August 13th, 2009

Taylor, Bean, & Whitaker Forced to Cease FHA, VA, and Freddie Mac Operations

With lenders coming under intense scrutiny for their less than stellar response to President Obama’s Making Home Affordable loan modification program, it was only a matter of time before one of the top major lenders folded. This week, Taylor, Bean, & Whitaker, the country’s 12th largest mortgage origination and servicing institutions was forced to cease its FHA, VA and Freddie Mac operations amid allegations that it mishandled terms of a settlement to create a fair loan modification program. Taylor, Bean, & Whitaker will no longer originate or service FHA, VA and Freddie Mac insured loans and is currently in the process of selling servicing rights to its portfolio.

 

 

For Taylor, Bean, & Whitaker customers who have FHA, VA, or Freddie Mac insured loans who are either delinquent, facing foreclosure, or who are seeking out loan modification services, this news puts a temporary hold on all activity. Adjust My Loan is actively working with TBW borrowers to find out the latest news on who will be servicing these loans and rapidly re-placing them in modification programs.

 

 

TBW customers who have mortgages insured by Fannie Mae or other investors such as Wells Fargo are not immediately affected by the closure, but there is a great deal of speculation that TBW may file for bankruptcy as a result.

 

 

If you are a TBW customer who has a foreclosure date in the next thirty days, contact Adjust My Loan. Our expert negotiators have been tracking this news and the progress of the servicing change to properly assist homeowners through this confusing time. Adjust My Loan can assist you in avoiding foreclosure despite the failure of TBW to provide modification services.

 

 

Many TBW customers are actually seeing this as a blessing in disguise. TBW had become notorious for having seemingly endless hold times, difficult to work with customer service staff, and ineffective loan modification services. To date, TBW has only offered trial loan modifications to 4% of eligible homeowners.

 

 

Adjust My Loan’s expert negotiators can help you if you are one of the many customers affected by this news. Our goal is to provide expert negotiation service to get you the best loan modification possible, to achieve a payment that is affordable and sustainable, and to provide peace of mind. Call us today at (800) 557-7573

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Superbama Expands The Making Homes Affordable Plan

Thursday, April 30th, 2009

Arizona Loan Modification

Making Homes Affordable Plan Expands

 

Things are really moving now that SUPERBAMA is in control!  That’s right…the Making Homes Affordable loan modification plan is already being expanded to include second mortgages and to push homeowners who are really upside down towards the newly revamped Hope For Homeowners program.  One of the biggest roadblocks the Making Homes Affordable modification plan had was the fact that first lien holders were hesitant to modify their mortgage when the second lien holder got to leave their loans intact.  Now second lien holders are incentivized to modify their mortgages down to 1% and in some cases wipe them out completely.  The loan modification experts at AdjustMyLoan.com have been modifying both first and second mortgages long before the government subsidies have been around, but we believe this will only make things better for homeowners in the long run.  From the first mention of a government assisted modification program our main concern was for those homeowners whose house values have declined dramatically (like those in Arizona).  An interest rate drop or term extension only postpones any immediate threats of missing payments or foreclosure and does nothing for those that want or need to sell their homes in the near future.  With the program now including second lien holders, there is a chance for a real solution to America’s housing problem!  Below is an article from CNNMoney.com about the loan modification plan extension.

 

Obama expands foreclosure fix

 

Two steps: Second liens now covered by modification program; servicers must offer eligible borrowers principal reduction under Hope for Homeowners.

 

NEW YORK (CNNMoney.com) — The Obama administration said Tuesday it is expanding its foreclosure prevention program to cover second mortgages and to direct more troubled borrowers to the Hope for Homeowners program.

 

Announced with great fanfare in mid-February, the president’s $75 billion program has gotten off to a slow start. Loan servicers only recently started taking applications and many delinquent borrowers have complained about being left in the cold because their home values have dropped or they’ve lost their jobs.

 

The administration is seeking to address some of the concerns by tweaking the original modification plan, which calls for adjusting eligible borrowers’ loans so monthly payments are no more than 31% of pre-tax income.

 

Servicers covering 75% of the nation’s mortgages are now participating in the program, which also allows some homeowners with little or no equity to refinance their mortgages, a senior administration official said Tuesday. Together, the plans are expected to help up to 9 million avoid foreclosure.

 

Second mortgage roadblock

 

During the housing frenzy, many borrowers obtained second mortgages to allow them to put little or nothing down when buying a home. Up to half of at-risk borrowers have second liens, according to the administration.

 

These loans have complicated the modification process. For one thing, they add to troubled homeowners’ debt levels. Also, mortgage investors have balked at reducing payments on first mortgages when the second loan was left intact.

 

Under the administration’s new program, the interest rate on second mortgages will be reduced to 1% on loans where payments cover interest and principal and to 2% for interest-only loans. The government will subsidize the rate reduction, with the money going to the mortgage investor.

 

Servicers will be paid $500 for each modification and an additional $250 annually for three years if the borrower stays current. Borrowers can receive up to $250 per year for five years to pay down their first mortgage.

 

Investors can also receive a payment in exchange for extinguishing the second lien. They would receive 3 cents on the dollar for loans more than 180 days delinquent and between 4 cents and 12 cents for less delinquent loans, depending on the borrowers’ debt levels.

 

Servicers who join the new program must modify second loans when a borrower’s first mortgage is adjusted. It will likely take a month to implement, but it should not slow down the modifications of primary mortgages, the administration said.

 

“By bringing both the first lien and second lien program together, we can reduce monthly payments for borrowers and make it much more likely that they can stay in their homes,” a senior administration official said.

 

Hope for Homeowners option

 

Also Tuesday, the administration said it is now requiring servicers to offer troubled borrowers access to Hope for Homeowners as a modification option if they qualify.

 

Expanding Hope for Homeowners would address one of the major holes in the original Obama foreclosure prevention plan. It helps homeowners whose homes are now worth far less than their mortgages.

 

Servicers had balked at participating in the Hope program because it required they reduce the mortgage principal balance to 90% of a home’s current value.

 

Hope for Homeowners, which began in October, is being revamped in Congress. Servicers would have to reduce the principal to 93% of the home’s value. The change would also reduce the program’s high fees, which turned off many troubled borrowers.

 

As an incentive to participate, servicers will be paid $2,500 for each refinancing, while lenders who originate the new loans will receive up to $1,000 a year for three years, as long as the loan remains current.

 

Separately, however, another pillar of the president’s plan appears to be headed for defeat this week. The Senate is not expected to pass legislation allowing bankruptcy judges to modify mortgages. The administration had sought this change to pressure servicers to modify loans before borrowers declare bankruptcy.

 

If your interested in a home loan modification, visit www.AdjustMyLoan.com today and get a FREE CONSULTATION.

adjustmyloan.com

 

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Homeowner Affordability and Stability Plan FAQ’s

Friday, February 20th, 2009

affordability and stability plan

 

Questions and Answers for Borrowers about the Homeowner Affordablity and Stability Plan

(The Following Is Taken From http://www.treas.gov/)

 

 Borrowers Who Are Current on Their Mortgage Are Asking:

1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?

 

Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan. Through the program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they hold in their portfolios or that they placed in mortgage backed securities.

 

2. I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

 

Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.

 

3. How do I know if I am eligible?

 

Complete eligibility details will be announced on March 4th when the program starts. The criteria for eligibility will include having sufficient income to make the new payment and an acceptable mortgage payment history. The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.

 

4. I have both a first and a second mortgage. Do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

 

As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible to refinance under the Homeowner Affordability and Stability Plan. Your eligibility will depend, in part, on agreement by the lender that has your second mortgage to remain in a second position, and on your ability to meet the new payment terms on the first mortgage.

 

5. Will refinancing lower my payments?

 

The objective of the Homeowner Affordability and Stability Plan is to provide creditworthy borrowers who have shown a commitment to paying their mortgage with affordable payments that are sustainable for the life of the loan.  Borrowers whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in
their payments.  Borrowers who are paying interest only, or who have a low introductory rate that will increase in the future, may not see their current payment go down if they refinance to a fixed rate.  These borrowers, however, could save a great deal over the life of the loan.  When you submit a loan application, your lender will give you a “Good Faith Estimate” that includes your new interest rate, mortgage payment and the amount that you will pay over the life of the loan.  Compare this to your current loan terms.  If it is not an improvement, a refinancing may not be right for you.

 

6. What are the interest rate and other terms of this refinance offer?

 

The objective of the Homeowner Affordability and Stability Plan is to provide borrowers with a safe loan program with a fixed, affordable payment.  All loans refinanced under the plan will have a 30 or 15 year term with a fixed interest rate.  The rate will be based on market rates in effect at the time of the refinance and any associated points and fees quoted by the lender.  Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans will have no prepayment penalties or balloon notes.

 

7. Will refinancing reduce the amount that I owe on my loan?

 

No. The objective of the Homeowner Affordability and Stability Plan is to help borrowers refinance into safer, more affordable fixed rate loans. Refinancing will not reduce the amount you owe to the first mortgage holder or any other debt you owe.  However, by reducing the interest rate, refinancing should save you money by reducing the amount of interest that you repay over the life of the loan.

 

8. How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?

 

To determine if your loan is owned or has been securitized by Fannie Mae or Freddie Mac and is eligible to be refinanced, you should contact your mortgage lender after March 4, 2009.

 

9. When can I apply?

 

Mortgage lenders will begin accepting applications after the details of the program are announced on March 4, 2009.

 

10.What should I do in the meantime?

 

You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available. This includes:

 

· information about the gross monthly income of all borrowers, including your most recent pay stubs if you receive them or documentation of income you receive from other sources
· your most recent income tax return
· information about any second mortgage on the house
· payments on each of your credit cards if you are carrying balances from month to month, and
· payments on other loans such as student loans and car loans.

 

 

Borrowers Who Are at Risk of Foreclosure Are Asking:

 

 

1. What help is available for borrowers who are at risk of foreclosure either because they are behind on their mortgage or are struggling to make the payments?

 

 

The Homeowner Affordability and Stability Plan offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current.   By providing mortgage lenders with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.

 

2. Do I need to be behind on my mortgage payments to be eligible for a loan modification?

 

No.  Borrowers who are struggling to stay current on their mortgage payments may be eligible if their income is not sufficient to continue to make their mortgage payments and they are at risk of imminent default.  This may be due to several factors, such as a loss of income, a significant increase in expenses, or an interest rate that will reset to an unaffordable level.

 

3. How do I know if I qualify for a payment reduction under the Homeowner Affordability and Stability Plan?

 

In general, you may qualify for a mortgage modification if (a) you occupy your house as your primary residence; (b) your monthly mortgage payment is greater than 31% of your monthly gross income; and (c) your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits. Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.

 

4. I do not live in the house that secures the mortgage I’d like to modify.  Is this mortgage eligible for the Homeowner Affordability and Stability Plan?

 

No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible.  If you used to live in the home but you moved out, the mortgage is not eligible.  Only the mortgage on your primary residence is eligible.  The mortgage lender will check to see if the dwelling is your primary residence.

 

5. I have a mortgage on a duplex. I live in one unit and rent the other. Will I still be eligible?

 

Yes. Mortgages on 2, 3 and 4 unit properties are eligible as long as you live in one unit as your primary residence.

 

6. I have two mortgages. Will the Homeowner Affordability and Stability Plan reduce the payments on both?

 

Only the first mortgage is eligible for a modification.

 

7. I owe more than my house is worth. Will the Homeowner Affordability and Stability Plan reduce what I owe?

 

The primary objective of the Homeowner Affordability and Stability Plan is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford.  Lenders are likely to lower payments mainly by reducing loan interest rates.  However, the program offers incentives for principal reductions and at your lender’s discretion modifications may include upfront reductions of loan principal.

 

8. I heard the government was providing a financial incentive to borrowers.  Is that true?

 

Yes.  To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan.  The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt.  Borrowers who pay on time for five years an have up to $5,000 applied to reduce their debt by the end of that period.

 

9. How much will a modification cost me?

 

There is no cost to borrowers for a modification under the Homeowner Affordability and Stability Plan.  If you wish to get assistance from www.AdjustMyLoan.com visit their website or call their toll free number 1-800-557-7573.  They do not charge upfront fee’s for their loan modification program.

 

10. Is my lender required to modify my loan?

 

No.  Mortgage lenders participate in the program on a voluntary basis and loans are evaluated for modification on a case-by-case basis.  But the government is offering substantial incentives and it is expected that most major lenders will participate.

 

11. I’m already working with my lender / housing counselor on a loan workout.  Can I still be considered for the Homeowner Affordability and Stability Plan?

 

Ask your lender or counselor to be considered under the Homeowner Affordability and Stability Plan.

 

12. How do I apply for a modification under the Homeowner Affordability and Stability Plan?

 

You may not need to do anything at this time.  Most mortgage lenders will evaluate loans in their portfolio to identify borrowers who may meet the eligibility criteria.  After March 4 they will send letters to potentially eligible homeowners, a process that may take several weeks.

 

If you think you qualify for a modification and do not receive a letter within several weeks, contact your mortgage servicer or www.AdjustMyLoan.com to see if you can participate in the program. Please be aware that servicers and counseling agencies are expected to receive an extraordinary number of calls about this program.

 

13.What should I do in the meantime?

 

You should gather the information that you will need to provide to your lender on or after March 4, when the modification program becomes available. This includes

· information about the monthly gross income of your household including recent pay stubs if you receive them or documentation of income you receive from other
sources
· your most recent income tax return
· information about any second mortgage on the house
· payments on each of your credit cards if you are carrying balances from month to month, and
· payments on other loans such as student loans and car loans.

 

14.My loan is scheduled for foreclosure soon. What should I do?

 

Contact your mortgage servicer, or for professional Loan Modification representation, complete the submission form at www.AdjustMyLoan.com or call:

 

AdjustMyLoan Contact Number

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