Government Mortgage Refinance Plan – Saving Money with a Lower Rate
Posted on | September 30, 2009 | 1 Comment
The Government mortgage refinance plan Making Home Affordable was created to help you save money with a lower mortgage interest rate. Over the last year, mortgage rates have dropped over a full percentage point and most home owners could greatly benefit from having a low mortgage rate on their home loan. Even though credit scores have dropped over the last year, many home owners still have had the opportunity to refinance at lower rates.
If your credit score has dropped and you feel like you cannot get a low mortgage rate you could be wrong. Many lenders out there have been offered incentives to finance home loans. Do not get me wrong, if you have a credit score of 600 you will not be getting a 5% mortgage. Lenders have tightened their lending practices but the incentives that president Obama is offering these companies makes it a little easier for you to get a reasonable mortgage rate.
The Making Home Affordable website is a very good resource to use and I would encourage everyone to check it out even if you are not in the market for a new home or a home refinance. There are some very interesting statistics and information on how the government is trying to help every home owner to lower their monthly mortgage payment.
Make sure to take advantage of this time and use your resources wisely. If you have been thinking about refinancing or buying a new home now might be one of the best times in history. By lowering your mortgage payment each month you could be saving month that goes towards other debts that have been holding you back.
President Obama and his staff want you to refinance at a lower mortgage interest rate so you can spend money in other ways and stimulate the economy. It is your responsibility to get out there and contact some lenders to see what mortgage rate you qualify for. This opportunity may not last so please do not let it pass you by.
Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below. We offer information on everything from getting a lower mortgage rate to increasing your credit score.
Author: Tiffany Mann
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One Response to “Government Mortgage Refinance Plan – Saving Money with a Lower Rate”
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October 12th, 2009 @ 10:36 pm
Hello Homeowner,
My name is Michael Rocco and I’m a Mortgage Consultant. I have many Years of Mortgage Experience and I consultant for a Direct Mortgage Lender who is FHA, FNMA, GNMA, VA, and Reverse Approved. I can help you Refinance or Purchase with low credit scores or bad credit. I Really Look Forward to Your Call and to helping you with your Mortgage.
MORTGAGE REFINANCE WITH BAD CREDIT
PURCHASE with Little Down – Only 3.5% Down Payment – 6% Sellers concession – NO closing costs out of pocket
PURCHASE MORTGAGE with LOW CREDIT SCORES
REFINANCE LOAN WITH LOW CREDIT SCORES
REFINANCE MORTGAGE WITH 500 CREDIT SCORES
FIRST TIME HOME BUYER MORTGAGE PROGRAMS
My Company is GNMA Approved which allows us to Approve Homeowners with Very Low Credit Scores.
Currently ALL other Lenders in The Country Require a 620 Minimum credit Score.
Since We are GNMA Approved –
WITH US YOU CAN REFINANCE WITH UNDER 620 CREDIT SCORES
REFINANCE or PURCHASE with 500 Credit Scores – (We require a 550 minimum credit score)
We do Look at the Mortgage History
HOUSING CRISIS, SUB-PRIME MORTGAGE CRISIS, CREDIT CRUNCH
Many Homeowners Need Mortgage Help
1) Adjustable Rate Mortgages are Rising
2) Low Credit Scores
3) Bad Credit
4) Little Equity
5) Falling Home Values
6) Lower Income
THE GOOD NEWS – WE HAVE GOVERNMENT MORTGAGE PROGRAMS TO HELP YOU
Can you refinance with LOW Credit Scores ? YES, Refinance with 500 Credit Scores
Can you receive CASH OUT when you refinance ? YES, you can do CASH OUT Refinance for any reason
Can you refinance with LITTLE Equity ? YES, you can refinance with LITTLE Equity (up to 97.75% of what your Home is worth)
What is the Lowest Mortgage Interest Rate ? Currently Mortgage Interest Rates are the Lowest they have Ever Been
Is there a Pre-Payment Penalty ? NO, Unlike Other Lenders, when you refinance with us we NEVER charge a Pre-payment Penalty
WHY SHOULD I REFINANCE THE MORTGAGE ?
1) Lower your Interest Rate
2) Payoff High Interest Debt like Credit Cards
3) Get Cash Out
4) Convert Your Adjustable Rate into a FIXED Interest Rate
5) Lower your Mortgage Payment and save money monthly
6) Pay Off your Mortgage in Less Years
What does Streamline Mortgage mean ? Our Mortgage Program allows you to Lower your interest rate in the future with NO closing costs (only Title Fees) So when interest rates fall you can “Streamline” and take advantage of lowering your interest rate and payment even further.
What does Assumable Mortgage mean ? Our Mortgage allows you to sell your Home and have the New Buyer take over your low and fixed interest rate. They can “assume” the mortgage. (This will make it easier for you the Seller to sell the house)
WHAT COMPANY SHOULD I USE TO REFINANCE MY MORTGAGE ?
Here is a List of Reasons for Why You Should use my Company for ALL Your Mortgage Needs
1) Zero Complaints with The Better Business Bureau and The Banking Department
2) Licensed in 47 States
3) We are a Direct Mortgage Lender NOT a Broker
4) We have been a Direct Mortgage Lender for OVER 25 Years
5) We able to provide every type of Mortgage Program – We are FHA, FNMA, VA, Reverse and GNMA Approved
6) We do NOT sell your mortgage to another Lender – We Service the Mortgage for Life
7) We are the Lender with Lowest Fixed Interest Rates
“Please let the Government “LEND” you a Helping Hand. I Very Much Look Forward to your Call or E-mail and Helping You and Your Family’s Mortgage Needs”
MICHAEL ROCCO
Mortgage Consultant
Direct National Lender
Equal Housing Lender – Equal Opportunity Lender
Approved – FHA, FNMA, VA, GNMA and Reverse – Licensed in 47 States
PHONE – (631) 767-5211
E-mail – michael.rocco@hotmail.com