Loan/Mortgage

The entire universe need to have all kinds of creatures, organisms and virtues to balanced. And here they are: The villains of this right minutes – Con Artists of the loan modification who PROMISED home owners to get them out of foreclosure caos and trick their money but DO NOTHING TO SOLVE THEIR PROBLEMS.

This is, actually an emotional game: the distressed home owners are depressed, humiliated and worried, because they cannot keep up with their obligation to pay monthly. The villains took advantage of home owners unclear minds and weak wills, lured their innocence, and strip away their scanty resources.

Homeowners, if you are in foreclosure, or on the brink of going to fall behind on your payments, please use your proper judgments: NO EMOTIONAL TIME HERE. TIME IS THE ESSENCE. CONTACT YOUR LENDERS TODAY.

Here’s what homeowners should do to help themselves:

Do not respond to unknown solicitation of help from no one.
Do not pay any monetary fee up front to strangers.
Do not work with anyone except your lenders of your mortgage loans.
Do not negotiate or sign any paper work about your home with anyone except your lenders.

Troubled homeowners, if you want to have sound night sleeps and protect your properties and assets in this bad economic time, the smartest thing to do: CONTACT YOUR LENDERS NOW. With all the Government Stimulas Plan of 2009, your lender will try to work a way with you and help you to stay in the house and avoid foreclosure. ACT NOW! Don’t let someone else manipulate your lives!

President Bush signed a 300 billion Bill of Housing and Economic Recovery Act of 2008 today. With this 300 million dollars, estimated 400,000 home will be rid of foreclosure worries by end of 2009. First time home buyers will get a instant tax cut of $7,500, and more funds are available for Fannie Mae and Freddie Mac government backed loans.

For Californians, the good news is the conforming loan amount is risen from $417,000 to $625,000 permanently. This is especially crucial for Bay Area home buyers that the conforming loan amount is nearly matching the metropolitan median home prices. Home buyers can catch a breath of the down payment amount, with strengthened abilities of borrowing more money and with expectation of possible home appreciation.

With the influx of money, will the housing market turmoil be stabilized? May be so. If home owners who are in imminent danger of foreclosure come forward and work with their lenders for a new affordable rate, less houses will be in foreclosure process, home prices will be stable for a while, buyers will have abilities to borrow and bank will have money to grand loans.

Sound pretty good uh? The bottom line is the problem is temporary fixed, but you and I, the taxpayers have to tighten our belts for a long time to come.