Free Homeowners Mortgage Assistance Seminar

Gov. Dannel Malloy, Atty. Gen. George Jepsen, & the CT Department of Banking are sponsoring a free seminar that will allow homeowners to learn about:

• How to prevent foreclosure
• Loan modifications
• Debt management
• Emergency Mortgage Assistance Program
• Federal assistance programs
• Other sources

Homeowners will also have the opportunity to speak directly with a HUD-approved housing counselor and the opportunity to meet one-on-one with your mortgage lender!

Participating lenders include:

 

• Bank of America
• Citibank, NA
• First Niagara Bank
• Freedom Mortgage
• GMAC Mortgage, LLC
• HSBC National Bank USA
• HFC (Household Finance)
• Beneficial
• Indymac Mortgage Services
• OneWest Bank, FSB
• JPMorgan Chase & Co.
• McCue Mortgage
• Ocwen Loan Servicing, LLC
• People's United Bank
• PNC Mortgage
• Webster Bank, NA
• Wells Fargo Bank, NA
• Wachovia
• America's Servicing Company

 

The event will be held at the Coco Key Conference Center in Waterbury, CT from 10am-7pm  tomorrow, 11/28/12.  Here's a link for more information: http://www.ct.gov/dob/cwp/view.asp?a=2235&q=486992

 

This is a great opportunity for homeowners that have fallen behind in mortgage payments and are having difficulty with repayment.  Unfortunately, once you find yourself delinquent on a mortgage, it is difficult to refinance with most lenders.

 

Keep in mind that once a mortgage reaches 90 days delinquency, it is considered a foreclosure by lenders even if the foreclosure process has not begun.  That is why this seminar is a great opportunity for those homeowners that cannot qualify for a refinance.  How often can one meet face-to-face to with their lender to discuss a modification?! 

 

If interested, make sure to follow the link for a list of items you'll need to bring.  Good luck to all & God bless!

 

 

  

WELCOME!!!

Hello!  and thank you for visiting my blog site!  Have you ever wondered why the mortgage process is so difficult or if you could begin the process seamlessly without having to pay $ upfront?  Let me tell you, a lot of things have changed with the mortgage process today, but that doesn't mean that you should sacrifice the four S's: SOLUTIONS, SINCERITY, SECURITY, & SERVICE.  Because the process for becoming a mortgage loan officer has become more exclusive, a lot of mlo's are foregoing the standards of professionalism, creativity & service that anyone would expect.

For you home buyers, there are options galore that require little to no money (3.5%-0% down)!  These programs are known as government sponsored programs because they are backed by the federal government so that lenders like me can lend with a lower down payment from the buyer, and know that are funds are secured if the borrower defaults.  These programs include: FHA loans, VA loans, USDA loans, and CHFA loans and are great options for those who may not have a lot of funds to put down on a new home purchase or those who need a different option for a refinance.

Seeing as how today is Veteran's day, let's feature VA loans:

•        100% Financing for eligible Veterans with available entitlement

•        No Monthly Mortgage Insurance

•        Maximum Total Allowable DTI is flexible with compensating factors

•        2.15% Funding Fee for 100% loans (Guarantee fee is less for 5% or

•        10% down (Exempt if at least 10% Disabled)

•        Available for 1-4 family houses

•        2-4 Family Houses Require 6 Months Reserves

•        Property must pass a VA appraisal

•        620 Minimum Credit Score

•        3 Months Reserves Required for any additional rental properties owned.

•        Maximum 4% Seller Concessions Only Applies to Non-Closing

•        Costs! Unlimited Concessions for Closing Costs.

•        No Maximum Loan Amount! (Must put down 25% of over 417,000)

•        You can use your entitlement more than once as long as the old VA loan has been paid in full first

Most lenders are not experts in the loans referenced above; however, my team and I are.  Give me a call if you have any questions and make it a fantastic day!