"Yes, You Can Beat The System!" 
Oakley CA – A lot of people in today’s lending market are stuck. They locked in their interest rate when rates were higher. Now, they are barred from refinancing because they are upside down on their house. Whenever they apply for a new loan, the first thing the lender says is, “The current property value is less than what you owe. We can’t lend you enough money to pay off your old lender.
” Do they have any options? Their best option is probably a loan modification. Their lender is more than likely to work with them since their home dropped in value. They may have to stop making payments before their lender will approve a loan modification.
But, some lenders are even modifying loans that are current. I’ve heard of homeowners stuck with a loan where the payments are going to gradually increase over time. Their current interest rate is 6%. But, it is going to increase by 1% a year until it hits 9.5%. They can afford the home at the current interest rate. But once it goes higher, they will have to do something. Why not do it now?
By taking the onetime credit hit and lock in a reasonable interest rate, some people have been able to get their interest rates on jumbo loans reduced to between 4% and 5%. Many loan modifications will even reduce your interest rate as low as 2% for 5 years. But, stick to your guns and lock in a reasonable rate for the remainder of the loan.
You don’t want to have to apply for another loan mod in 5 years.
(Most people don’t see how interest rates could possibly go any lower.)
We offer a "No Cost" loan modification guide to consumers. Here is what we cover in the Stop Foreclosure Institute's Loan Modification Insider Secrets Guide.
* An easy to understand, Step By Step Guidebook.
* How to write a Hardship Letter that gets your loan modification approved.
* Three big loan modification mistakes and how to avoid them.
* Loan Modification from the lenders point of view. * How the Making Home Affordable Program can help you.
* What not to do so you don't risk being carted off to jail.
* How to calculate your budget properly to increase your chance of success.
To request this kit, please click here to request a copy.
Thanks for reading this information,
Adrienne Smith, Realtor
Adrienne is a Real Estate Broker Associate at Better Homes Realty
Phone: 877-843-8300 Ext. 1
Email: ams1rebroker@aol.com
Turning Challenges Into Opportunities Every Day!
View My homes for sale at www.BHRMann.com
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Adrienne Smith's personal views and do not reflect the views of Better Homes Realty.
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