stlouismortgage's posterous http://stlouismortgage.posterous.com Most recent posts at stlouismortgage's posterous posterous.com Sat, 23 Jul 2011 09:45:07 -0700 St Louis Mortgage Lending and Home Loan: Loan Modification Options Coming http://stlouismortgage.posterous.com/st-louis-mortgage-lending-and-home-loan-loan http://stlouismortgage.posterous.com/st-louis-mortgage-lending-and-home-loan-loan

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St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Lending News: More Loan Modification Options Coming
St Louis Home Mortgage and Commercial Loans | Commercial Loan Modification
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction

Six months after the Federal Housing Administration (FHA) announced an $11 billion refinancing initiative for these “underwater” borrowers, nearly two dozen lenders have agreed to take part in a new loan modification program.

The FHA program called Short Refi requires major concessions from lenders, which must agree to

write off at least 10 percent of the principal balance, and from investors, who, if they own the mortgage, must also agree to the deal.

To qualify, homeowners must be current on their monthly mortgage payments and not already have an FHA home loan.

The size of the new primary loan cannot be more than 97.75 percent of the current value of the property; refinanced loans for homeowners whose properties carry second liens cannot exceed 15 percent of the property value.

The Department of Housing and Urban Development (HUD), which oversees the FHA, said this month that 23 lenders had signed on to the Short Refi program, though it will disclose only the names of the five lenders that have already restructured a total of 44 loans.

They are: Wall Street Mortgage Bankers of Lake Success, New York; 1st Alliance Lending of East Hartford, Connecticut; Nationstar Mortgage of Lewisville, Texas; E Mortgage Management of Haddon Township, New Jersey; and Glacier Bank of Kalispell, Montana.

HUD estimated that 500,000 to 1.5 million borrowers could be eligible for the program.

Even so, it faces challenges in Congress; on Thursday, the House of Representatives voted to end it.

One mortgage expert, John Diiorio, the owner of 1st Alliance Lending, said that big banks were taking part behind the scenes, by referring homeowners to third-party lenders that could restructure their mortgages.

He added that 1st Alliance had “several hundred FHA Short Refi” loans in the pipeline.

Because the FHA announced the program only last September 2010, and because such loans take three to four months from start to finish, Mr. Diiorio said, the number of refinanced loans should increase in coming months.

He said that, on average, 1st Alliance had negotiated a principal reduction of $86,000 on a $256,000 loan, a 33.5 percent cut, to $170,000.

But he said lenders and investors had agreed to reduce principal for only half of the loans he had worked on.

The refinanced borrower, Mr. Diiorio said, had to pay a slightly higher fixed rate, typically 6 or so percent.

But he added that the financial impact was the same as a 5 percent rate on a higher-balance loan of $100,000, with less principal forgiven.

“It seems counter-intuitive,” he said, “but the economics work both for the consumer and for the lender.”

=============================================

Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available.Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan. 

Sponsored by: St Louis Mortgage, Lending and Refinancing 877-334-0210 Member of the Better Business Bureau Check back daily for more financial news.

We Are Now On Google Maps!

St Louis Mortgage: Scan the below code with your smartphone for more details on the best home mortgage, commercial lending and financing and the best principal reduction program available.

 

=============================================

ARE YOU UPSIDE DOWN ON YOUR HOME?
ARE YOU FACING FORECLOSURE?

What if you could substantially reduce your existing mortgage debt balance in as little as 90 days with one simple application or even get a reduced mortgage principal settlement due to common errors found in 85% of mortgages?

Principal Reduction Program: Watch These Shocking Mortgage Fraud Videos...

You can save your home or business and put a foreclosure stop on the process. A principal reduction or loan modification can also help if you are underwater with negative equity.

Take action now in order to save your home. Waiting will not help. It will only make your situation worse. This book shown below will take you step-by-step on how to properly fix your mortgage.

Visit our principal reduction and loan reduction website for your FREE loan audit and loan review today!

Before you hire an expensive attorney, do your due diligence first and educate yourself so that you make the right decision for you and your family.  

============================================

St Louis Beauty Supply and Avon - Kristin Tapia

 QR Code for stlouisbeauty at Kimtag

St Louis Mortgage and Loans - Liberty Lending Consultants

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St Louis Mobile Coupons

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St Louis Magic and Birthday Parties - Josh Routh

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To "read" the boxy black-and-white bar code above, you'll need a smartphone. If you need a reader APP, you can => Download a QR code APP reader here for your smartphone.

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Wed, 20 Jul 2011 04:37:00 -0700 St Louis Loans and Principal Loan Reduction: Housing Programs Hurt Economy http://stlouismortgage.posterous.com/st-louis-loans-and-principal-loan-reduction-h http://stlouismortgage.posterous.com/st-louis-loans-and-principal-loan-reduction-h

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St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Loan Reduction News: Greenspan Says Stimulus and Housing Programs Hurt Recovery
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Consultant

Former Federal Reserve Chairman Alan Greenspan said in February that massive government intervention to save the economy is to blame for the lagging recovery.

Greenspan argued for less government intervention to get the recovery rolling and businesses

investing in equipment and plants.

"What we need to do now is to calm down; let things move by themselves," he said at a forum at the Council of Foreign Relations.

Greenspan continues: "And indeed the rate of activism has decreased significantly and the ratio of capital flow has inched back up."

Greenspan's views are starting to gain an audience again.

Many Republicans share his opinion that intervention has created uncertainty and deterred private sector investing.

Greenspan targeted deficits created by the $787 billion 2009 Recovery Act as the main culprit behind the current sputtering recovery.

Why are deficits to blame? Because the Treasury Department's borrowing "crowds out" companies from finding similarly low interest rates to borrow funds for capital investments on equipment and plants.

At the same time, he acknowledged that America's biggest and most-trusted companies aren't having trouble finding good interest rates. But smaller companies, he said, are struggling.

"Microsoft is not being crowded out," Greenspan said.

He goes on to say: "It's those who find an 8 or 9 percent interest rate, which are required of junk bonds and small businesses, which is too high."

He said he estimates that government borrowing is effectively reducing long-term capital investment by one fifth.

But Greenspan goes further in his criticism of government intervention, also blaming housing programs for having delayed and prolonged foreclosures.

He said such efforts have created uncertainty about when the housing market will hit rock bottom, at which point speculators can rush in and start buying up houses.

=============================================

Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available.Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan. 

Sponsored by: St Louis Mortgage, Lending and Refinancing 877-334-0210 Member of the Better Business Bureau Check back daily for more financial news.

We Are Now On Google Maps!

St Louis Mortgage: Scan the below code with your smartphone for more details on the best home mortgage, commercial lending and financing and the best principal reduction program available.

 

=============================================

ARE YOU UPSIDE DOWN ON YOUR HOME?
ARE YOU FACING FORECLOSURE?

What if you could substantially reduce your existing mortgage debt balance in as little as 90 days with one simple application or even get a reduced mortgage principal settlement due to common errors found in 85% of mortgages?

Principal Reduction Program: Watch These Shocking Mortgage Fraud Videos...

You can save your home or business and put a foreclosure stop on the process. A principal reduction or loan modification can also help if you are underwater with negative equity.

Take action now in order to save your home. Waiting will not help. It will only make your situation worse. This book shown below will take you step-by-step on how to properly fix your mortgage.

Visit our principal reduction and loan reduction website for your FREE loan audit and loan review today!

Before you hire an expensive attorney, do your due diligence first and educate yourself so that you make the right decision for you and your family.  

============================================

St Louis Beauty Supply and Avon - Kristin Tapia

 QR Code for stlouisbeauty at Kimtag

St Louis Mortgage and Loans - Liberty Lending Consultants

QR Code for stlouismortgage at Kimtag

St Louis Mobile Coupons

 QR Code for stlmobilecoupons at Kimtag

St Louis Magic and Birthday Parties - Josh Routh

 QR Code for stlouismagic at Kimtag

To "read" the boxy black-and-white bar code above, you'll need a smartphone. If you need a reader APP, you can => Download a QR code APP reader here for your smartphone.

=======================================

Mobile Phone Users Click Here For Your Safe and FREE STLTEXT Shopping App  

 

Permalink | Leave a comment  »

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