I am on a mission is to provide information and/or a solution for struggling homeowners to be able to remain in their home.Through the process known as a “Loan Modification”.If you know of ANYONE, a family member, friend, coworker, neighbor, etc., that is with a mortgage product that is adjusting or recasting to the point where it might be hard to keep their home, a person experiencing a hardship financially, medically, or due to employment issues, PLEASE let me know!
One of the Government assisted programs for a loan Modification is the Home Affordability and Stability Plan, which offers the following terms*:
1.-Lenders would have to reduce the mortgage payments to no more than 38 percent of the borrower’s income.
2.- The Treasury would share the cost for lenders to cut that debt-to-income ratio to 31 percent.
3.- The modifications would allow a lender to drop the interest rate to as little as 2 percent to achieve the ratio, and if necessary, extend the term or amortization of the loan to as long as 40 years.
Below are some of the items you will need to submit for your request for a loan Modification:
___Financial Statement ___ Hardship letter___
Mortgage coupons for each loan ___ 2 months Recent Bank statement(s)
___ 2 months Recent Pay stubs OR 3 months Profit & loss Statement if Self Employed
___ Last years w-2s and/or Federal Income Taxes ___ Fire insurance bill
Free Evaluation of your Possible Loan Modification. Fax me a copy of your Mortgage coupon and one of the two Financial statements above. Fax 888-329-6756.
Loan Modification Assistance for the whole process available with NO ADVANCE FEE. Other Possible Alternatives: *Refinancing up to 125% of the home value. *Hardship Sale (Short Sale) *Deed in lieu of Foreclosure *Forbearance Call me for more information @ 818-832-7811 Good luck, Richard Valdez California Real Estate Broker Lic -1211013
