Officials release details of $75 billion loan modification and refinancing programs. Borrowers can start contacting loan servicers, though companies will need time.
The multipronged fix calls for companies to help as many 4 million struggling borrowers by modifying loans so housing payments are no more than 31% of monthly gross income. Separately, homeowners who haven't missed a payment can refinance into lower-cost loans even if they have little or no equity. This is expected to help up to 5 million homeowners. more details
Cohen Financial Group specializes in conventional (FHA,FANNIE MAE, VA,) and unconventional financing where speed and attention to special circumstances are critical. Our team of experience Loan experts will find the right loan for any challenge situation. We lend Nationwide, and in many cases we can issue loan approval within 48 hours.
At Cohen Financial Group, we recognize the importance of speed, and that loans must often be structured around each client's unique set of financial circumstances. Our program has been providing lightning - fast service and creative funding solutions throughout North America since 1996, and internationally since 2006.
Cohen Financial Group has Launched: Operation Mortgage Bailout:
30 year fix mortgage rate: 4.25% 4.65(apr) 15 Year fix mortgage rate: 4.125% 5/1 Arm: 4.01% [Assumes 2.750 points paid at closing] Best time to Refinance or Purchase FHA UP TO 100% FINANCING Foreclosure Bailout Loans: 70%ltv
(24hr. Approval) Fast funding-Stated Income-Low Fico OK
Operation Mortgage Bailout is helping thousands of Americans. We can help you too. Call today and speak to a loan Specialist: 1-800-928-6154
FHA streamline refinancing has become an increasingly attractive option for FHA mortgage holders. It has been in effect since the 1980s for insured mortgages and those who want to refinance for a number of reasons. "Streamline" refers to the reduced amount of paperwork and approval processes needed to receive refinancing on a current FHA mortgage. There are two types of FHA streamline refinances: without appraisal and with appraisal.
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Hard Money loans are non institutional loans funded by private real estate investors, companies and funds - using their own money - secured by a first, second, or third Trust Deed against the subject property.
These types of loans are referred to by many different names, such as, private money, private equity, equity, equity only, equity-based, equity-driven, or asset based.
Equity-driven mortgage loans typically require 25-50% equity in the property and/or collateral in another piece of real estate, although some lenders will accept other assets such as stocks and bonds as collateral for the loan.
These types of loans also carry a heavier burden and interest rate for the borrower for the simple reason that they also pose higher risk for the lender and are often a temporary solution that opens doors for a more permanent financial solution or exit strategy.
A reverse mortgage is a special type of home loan that lets a homeowner convert a portion of the equity in his or her home into cash. The equity built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence. HUD's reverse mortgage provides these benefits, and it is federally-insured as well. Click for More info.
Hard Money Acquisition & Rehab Construction Loans
For developers, Owner-Builder, sub-dividers & contractors, we can provide acquisition & Rehab construction financing based on the future value Construction to Permanent of the property.
We provide both bank construction financing and private hard more details money construction loans.more details