Are Stated Income Loans for Self Employed Buyers Still Available?
by eyewashdesign: A. Golden Question by goheels08: Are Stated Income Loans for Self Employed Buyers Still Available? My husband and I are trying to purchase a larger home and are having the hardest time. Our credit is good and we have 5% to put down. The problem is that I am self-employed and have made 3 times more money this year than the previous two years. Every bank that I have talked to says they can only go off of previous tax returns and they give no account to what I have made this year. I was advised that the lovely “foreclosure boom” have wiped out stated income loans all together. Has anyone had any luck finding a lender that still offers stated income or low doc loans to self-employed buyers? Best answer: Answer by sam kya its easy ma , order help ……… http://www.freewebs.com/getloans http://www.freewebs.com/quick-loans Give your answer to this question...
Read MoreWhat government programs are available to refinance if your loan is NOT owned by freddie mac or fannie mae?
HARP 2.0? HARP vs HARP 2.0 What is the Home Affordable Refinance Program, information pills also known as HARP 2.0? It is the new government-sponsored answer to some mind boggling statistics: Nearly 23% of U.S. residences are upside down on their mortgage. This means about 6 Million homeowner owe more than their residence may be valued at. The percentages fluctuate broadly state to state. For instance 46% of Utah home loans have been estimated to have negative equity, cialis 40mg in addition 39% of California home loans and 20% of Florida home loans. The Home Affordable Refinance Program, price or HARP 2.0, is the revised “Home Affordable Refinance Program” launched in 2010. Specifically it is a new government-sponsored program that does not require an appraisal in order to refinance a property with an underwater home mortgages…also known as negative equity. The Home Affordable Refinance Program, also known as HARP 2.0, is for Fannie Mae and Freddie Mac held home loans that had been originated before June 1, 2009. Borrowers can check eligibility at the Fannie Mae and Freddie Mac websites here: Fannie Mae (http://www.fanniemae.com/loanlookup/); Freddie Mac (https://ww3.freddiemac.com/corporate/). The initial Home Affordable Refinance Program was restricted to 125% LTV (loan-to-value). The HARP 2.0 variation doesn’t require any appraisal and there’s no maximum LTV. Additionally, it is possible to have reduced paperwork for the new The Home Affordable Refinance Program (HARP 2.0). Provided that a borrowers monthly payment does not increase greater than 20%, you will probably merely need a VOE (verification of employment) rather than supplying tax statements along with pay stubs. Yet another excellent factor regarding the HARP 2.0 product is the fact that the rates reasonably competitive. If you achieve a t-year fixed rate mortgage you’ll have a marginally greater than market rate, or possibly a marginally greater fee to obtain a market rate. Nevertheless, if borrowers reduce the length of their mortgage to a twenty-year or shorter amortization, the risk adjustment is waived and you should receive a good market rate. Fannie Mae and Freddie Mac continue to have “risk based” prices for low credit ratings, therefore anticipate a somewhat higher rate and/or increased fees in the event a borrowers credit rating is under 740. Still, Fannie Mae and Freddie Mac have relaxed the credit prerequisite on HARP 2.0. Including removing the minimum credit rating requirement and permitting borrowers with bankruptcy and foreclosures to sign up. Borrowers do need to be current on their home loan for the past 6 months, but could have been thirty days past due once 7 to 12 months prior. The HARP 2.0 program may be the first mortgage program which has the potential to aid quite a few homeowners searching for refinance options. History of HARP and HARP 2.0 Recently Obama overhauled the infamous Home Affordable Refinance Program also know as HARP 2.0, however it is uncertain whether it could eventually help alter the housing industry. Some fifty-thousand mortgages in the original Home Affordable Refinance Program have been completed, since a number of modifications to grow the program went into effect December, 2011, resulting in 300,000 additional applications are already received. Consumers are described as“encouraged” because of the figures. However in relation to closing mortgages, the incidence of new mortgages monthly seems to be somewhat beneath the average mortgage refinancing pace with regard to Home Affordable Refinance Program. Since its beginning April 2009 to the 3rd quarter 2011, the Home Affordable Refinance Program has provided roughly One Million mortgages altogether, or roughly 29,000 monthly. Now, with HARP 2.0, that started to take effect at the end of December, the speed of...
Read MoreQ&A: are there any no-doc loans (mortgage) available now?
Question by andmoreagain: are there any no-doc loans (mortgage) available now? what do people do if they cant show steady income { work on straight commissions}but know they can rent out a place? a duplex for example? Best answer: Answer by lepr0kanNo doc loans are a thing of the past. Stated income and asset loans are still available to people with great credit if they have stable employment but it may vary monthly or if they’re self employed. What do you think? Answer below!
Read MoreIs there a government refinance assistance program available?
by marsmet526 Question by Dolan A: Is there a government refinance assistance program available? I have decent income and credit, visit web capsule but not a good home mortgage. I want to refinance but my loan is above the market’s value, viagra approved and my loan is not with Fannie Mae nor Freddie Mac. Is there any government program that will get me a loan without mortgage insurance? I checked out MakingHomeAffordable.gov, and the site says, I “don’t quality” for any of the available options. Any other suggestions? Best answer: Answer by BNICKSwww.makinghomeaffordable.gov check out the website … either option on the site refi or modification would help … i wouldn’t worry to much about having mortgage insurance … What do you think? Answer...
Read MoreIn 2003 what did FHA Reverse Mortgages pay in interest on unused available cash?
HARP Study: Your Loan-to-value products in Affects Your Choice Mortgage The 30-year fixed rate mortgage increased its market share compared to other mortgage products. In part because of the HARP 2.0 refinance selected households. Benchmark product with the highest rate in 18 months 15-year fixed mortgages have … For more informaiton please visit here … Treason – for his father’s dream – The obsessional neurosis of Barack Hussein Obama II in the White House Image by Richard Loyal French “”The President isn’t exactly a socialist. So what’s driving his hostility to private enterprise? Look to his roots. Barack Obama is the most antibusiness president in a generation, and perhaps in American history. Thanks to him the era of big government is back. Obama runs up taxpayer debt not in the billions but in the trillions. He has expanded the federal government’s control over home mortgages, recipe investment banking, more about health care, autos and energy. The Weekly Standard summarizes Obama’s approach as omnipotence at home, impotence abroad. The President’s actions are so bizarre that they mystify his critics and supporters alike. Consider this headline from the Aug. 18, 2009 issue of the Wall Street Journal: "Obama Underwrites Offshore Drilling." Did you read that correctly? You did. The Administration supports offshore drilling–but drilling off the shores of Brazil. With Obama’s backing, the U.S. Export-Import Bank offered billion in loans and guarantees to Brazil’s state-owned oil company Petrobras to finance exploration in the Santos Basin near Rio de Janeiro–not so the oil ends up in the U.S. He is funding Brazilian exploration so that the oil can stay in Brazil. More strange behavior: Obama’s June 15, 2010 speech in response to the Gulf oil spill focused not on cleanup strategies but rather on the fact that Americans "consume more than 20% of the world’s oil but have less than 2% of the world’s resources." Obama railed on about "America’s century-long addiction to fossil fuels." What does any of this have to do with the oil spill? Would the calamity have been less of a problem if America consumed a mere 10% of the world’s resources? The oddities go on and on. Obama’s Administration has declared that even banks that want to repay their bailout money may be refused permission to do so. Only after the Obama team cleared a bank through the Fed’s "stress test" was it eligible to give taxpayers their money back. Even then, declared Treasury Secretary Tim Geithner, the Administration might force banks to keep the money. The President continues to push for stimulus even though hundreds of billions of dollars in such funds seem to have done little. The unemployment rate when Obama took office in January 2009 was 7.7%; now it is 9.5%. Yet he wants to spend even more and is determined to foist the entire bill on Americans making 0,000 a year or more. The rich, Obama insists, aren’t paying their "fair share." This by itself seems odd given that the top 1% of Americans pay 40% of all federal income taxes; the next 9% of income earners pay another 30%. So the top 10% pays 70% of the taxes; the bottom 40% pays close to nothing. This does indeed seem unfair–to the rich. Obama’s foreign policy is no less strange. He supports a 0 million mosque scheduled to be built near the site where terrorists in the name of Islam brought down the World Trade Center. Obama’s rationale, that "our commitment to religious freedom must be unshakable," seems utterly irrelevant to the issue of why the proposed Cordoba House should be constructed at...
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