Q&A: Is there a new refinance program that forgives negative equity and refinances the house at current value?

Mortgage Refinancing: Wait or Move Now?
The CoreLogic Home Price Index is up 2.5 percent from a year ago and the Federal Housing Finance Agency's purchase-only index reached its highest level in nearly two years, order medicine after growing 3.7 percent from last year — the fastest pace since September …
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Arizona State Credit Union reports members' HARP savings
Arizona State Credit Union saved 600 of its members more than $ 2 million each year by participating in the federal government's Home Affordable Refinance Program. The average member saved $ 369 on monthly mortgage payments, website the credit union reports.
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Question by Go with the flow: FHA has no mimimum mortgage requirement, website but banks will only make a loan for so little?
True or False.

Let’s say you find a house for $ 8, information pills 000
From what I have read, there FHA does not have a minimum requirement.
But, from what I have read most banks do not make mortgages for loans under 40K or 50K. My guess is all the paperwork and costs would be too great for an amount so small.

Anyone an expert on this?
I am sure there are banks out there that will do mortgages for only 30K, but I can’t imagine it being worth their time to do a mortgage for less

Best answer:

Answer by djstwain
As with any business they get to decide what loans will make them money. When you take into consideration the cost of doing business, it may not makes sense for them to write a loan for under $ 20,000. I would try a credit union or local regional bank.

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Question by tiredbutwiredlove: Obama’s loan modification program and 2nd mortgages?
We have 2 mortgages. Our first mortgage company will do the new modification, cure but does our 2nd mortgage company have to? I’m confused how Obama’s new plan covers those of us with second mortgaes who have lost our income. I know we would be able to refinance and put them together under the new plan, more about but I still don’t think it would save us much, and not as much as getting both of them modified. Any help in understanding this would be great!

Best answer:

Answer by Gaytheist Buddha
No help for second mortgages.

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Question by Spokesmodel: I received a letter that I may qualify for lower mortgage payments for my FHA Loan.?
I received a letter from Newport Shores Mortgage that I may qualify for a payment reduction on my FHA loan. Is this a scam? I contacted my mortgage company (Wells Fargo) a few months ago and they told me that FHA loans don’t qualify for any of the Obama programs, nurse but that it could change in the future. I looked up Newport Shores Mortgage on the HUD official website and they are listed as a qualified lender. I don’t want to get scammed and potentially lose my home, but I do need some help lowering my monthly payment. Does anyone know anything about this?

Best answer:

Answer by patrick
well… you are being partially scammed.
What they did was search through the recorded deed documents, or through credit reporting agencies, and determined the value of your current loan, and the interest rate you are paying. Then they determined that you may qualify for a new FHA loan at a lower rate.
They are really looking to get you to refinance your loan, through them.
that means you will have to apply, pay all the closing costs, and application fees.
Most likely you are better off throwing the form letter in the trash.

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Check out these chateau photos:

Chateau d’Anet

Image by ell brown
A French Chateau close to Dreux built from 1547 to 1552 for Diane de Poitiers, more about the mistress of Henry II of France.

The Chateau was used as a place in the 1965 James Bond film Thunderball

This was just a quick photo quit on our tour group, page so we did not go in. Took lots of shots and we had been on our way towards Chartres.

The Château d’Anet is a French château near Dreux constructed by Philibert de l’Orme from 1547 to 1552 for Diane de Poitiers, the mistress of Henry II of France. It was a gift from the king and was constructed on the former château at the center of the domains of Diane’s deceased husband, Louis de Brézé, seigneur d’Anet, Marshal of Normandy and Master of the Hunt. The château is especially noted for its exterior, notably the statues of Diane de Poitiers as Diana, goddess of the hunt, by Jean Goujon and the relief by Benvenuto Cellini more than the portal. Anet was the site of one of the initial Italianate parterre gardens centered on the building’s facade in France the garden-designer in charge was Jacques Mollet, who trained his son at Anet, Claude Mollet, destined to turn into royal gardener to 3 French kings. Anet right now The château was constructed partly upon the foundations and cellar vaults of a feudal castle that had been dismantled by Charles V and was subsequently rebuilt as a Late Gothic manor of brick and stone. The château was not pillaged in the course of the French Revolution, but Diane de Poitiers’ remains were removed to a pauper’s ditch in the parish cemetery and the rich contents of the château, which were the house of King Louis XVI’s cousin, Louis Jean Marie de Bourbon, duc de Penthièvre, were sold at auction as biens nationals. A significant portion of the château was subsequently demolished, but only after Alexandre Lenoir was in a position to salvage some architectural components for his Musée des monuments français ( presently situated in the École des Beaux-Arts in Paris). The components had been reinstalled at Anet right after World War II. The restoration of the château itself, in pitiable condition, was due to comte Adolphe de Caraman, who bought it in 1840 and undertook a colossal system of restoration. In 1851, the minister of the interior granted Anet the status of a monument historique. Below financial duress, Caraman sold the château in 1860 to Ferdinand Moreau, who continued the restoration, getting furnishings and functions of art that had been thought to be initially from the château. The portal The free-standing chapel of Anet, constructed to the left of the cour d’honneur in 1549-1552, is created on a centralized Greek cross floor strategy below a diagonally-coffered dome. Its facade has a porch of widely-spaced paired Ionic columns amongst towers crowned by pyramidal spires.In 1581, Henri III and his mother Catherine de’ Medici came to the chapel to attend the baptism of the infant son of Charles, duc d’Aumale. There is also the mortuary chapel, constructed according to Diane de Poitiers’ final wishes to contain her tomb, commissioned from Claude de Foucques by Diane’s daughter, the Duchesse d’Aumale. The home belonged to many of louis XIV’s descendants Louise-Françoise de Bourbon died here in 1743, she was a daughter of the renowned illegitimate son of Louis XIV the Louis-Auguste de Bourbon, duc du Maine. His sons the princes des Dombes and comte d’Eu lived right here when away from Versailles. It was later owned by the fabulously wealthy duc de Penthièvre, very first cousin of prince and the comte. The castle was employed as a filming location in the 1965 James Bond film Thunderball.

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Chateau Fountainbleau

Image by Marcel “MadJo” de Jong
Chateau Fountainbleau

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chateau

Image by zoetnet
chateau in a park in central paris france

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Question by : Can someone explain a no doc mortage loan to me?
I just heard of the No Doc loan. Are they real? If they are, viagra what is involved and how much more do you pay?
Oh, viagra and what is a point? How much does one point equal in money?
I think I have my best answer. This loan seems terrible. I thought it mean tthat you didn’t have to fill out a bunch of paperwork.

Best answer:

Answer by src50
No doc loans are pretty much nonexistent now. A point is one percent of the loan amount.

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Wells Fargo Sued Over Claims It Cheated FHA on Mortgage Defaults
The firm, viagra now the largest U.S. home lender, unhealthy paid $ 125 million and set up a $ 50 million assistance fund to settle federal claims in July that it discriminated against minority borrowers. The settlement was … is still pending. Bank of America Corp …
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Mortgage assistance set for Maricopa County homeowners
Homebuyers have access to 30-year, clinic fixed-rate mortgage loans (FHA, VA or USDA-RD) that also provide a grant for down payment and closing cost assistance equal to 5 percent of the original loan amount. Special incentives will be given to qualified U.S. …
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Mortgage Fraud Lawsuit Filed Against Wells Fargo in Manhattan for Fraudulent …
… with WELLS FARGO's participation in the Federal Housing Administration (“FHA”) Direct Endorsement Lender Program. The lawsuit alleges that, as a result of WELLS FARGO's false certifications, FHA has paid hundreds of millions of dollars in insurance …
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Question by Sunny: Which bank offer the LOW Mortgage Rates?
I am going to buy a house. Do you know which bank offer low Mortgage Rates? I am located at Boston, buy information pills USA. Thanks for your info!

Best answer:

Answer by Anonymous
They all have low interest rates. However, discount the interest rate you are offered will depend on your qualifications: income, debt, credit history, assets, reserves, etc. Shop around. Start with Julie at http://primelendingonline.com

Good luck.

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A few good condominium images I identified:

Grange Road Condominiums – Paul Rudolph

Image by Pricey
Grange Road Condominiums by Paul Rudolph (One more lousy shot)!

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Newberry Plaza Town houses and Newberry Plaza condominium tower

Image by UIC Digital Collections
Title: Newberry Plaza Town residences and Newberry Plaza condominium tower

Creator: Gordon &amp Levin

Description: Photograph of Newberry Plaza. The Newberry Plaza Town residences (1000 N. State St.), cheapest built on leading of the complex’s three-story garage structure, are visible in the foreground. Component of the Newberry Plaza condominium tower (1030 N. State St.) is visible behind them.
Photograph credit: Brubaker, C. William, c. 1976

Date: 1970- 1974 c. 1976
Geographic coverage: Near North Side (Chicago, Ill.) Gold Coast (Chicago, Ill.)

Collection: C. William Brubaker Collection (University of Illinois at Chicago)
Repository: University of Illinois at Chicago. Library. [Visual Resources].
Credit Line: Cite as [creator]. [title]. [file name]. [collection].
Rights: University of Illinois at Chicago College of Architecture and the Arts holds reproduction and licensing rights.
File Name: bru007_04_eF

For a lot more images from the collection, go to collections.carli.illinois.edu/cdm4/index_uic_bru.php?CIS…

Click right here to take the Library’s survey on its Flickr collections.

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Question by hotguyfromrincon: Is there a new refinance program that forgives negative equity and refinances the house at current value?
I heard about some new government loan where if your home has dropped in value, abortion the government will absorb the depreciation and refinance your house at its current market value. I just bought my first house in August of 2008 for $ 275, about it 000 which was a foreclosure and the other foreclosed homes surrounding me are now being offered in the $ 240,000 range. So in 4 months I’ve already lost around $ 35,000 in value.

Best answer:

Answer by Rick T
Dude if your going to live in the property and can afford the payment, which you should be able to since you just got the loan, don’t even worry about the value. You people think that you lost thousands when all that is happening is a correction in the market and all you have Truly lost is on paper (until you sell) is when you lose. Stop whining and go to work. Anyway you bought AT a terrible time and the values still have not hit bottom. That was your mistake.

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