Are You a Victim of the Bank Foreclosure?

Homeowners may qualify for compensation from foreclosure abusive. People who lost their home between 2009 and 2010 through robo signing. The banks listed below participated into robo signing.
1. Bank of America           11. Citifinancial                                     21. America's Servicing Co
2. Wells Fargo                   12. CitiMortgage                                  22. HFC
3. J.P. Morgan Chase         13. Countrywide                                  23. HSBC
4. PNC                                14. EMC                                               24. BAC Home Loan Servicing
5. Met Life                          15. Everbank/Ever Home EMC            25.IndyMac Mortgage Co  
6 National City Mortgage   16.Sovereign Bank                              26. Beneficial
7. Wachovia Mortgage         17. Suntrust Mortgage                       27. Auora Loan Services
8. Washington Mutual           18. US Bank
9. Wilshire Credit Corporation 19. Financial Freedom
10. CitiBank                            20. GMAC Mortgage
The homeowners who were a victim of the foreclosure abusive may file for compensation. This includes servicemen that was on active duty may qualify up to $125,000 plus equity that loss their home in foreclosure. If a servicemen reclaim their home in foreclosure, the homeowner will qualify for at least $15,000. Many homeowners that lost their home will receive less than $15,000 if the homeowner were turn down from a loan modification and ended up losing their home.

The deadline to file the complaint for compensation December 31, 2012. File your complaint at www.independentforeclosurereview.com or call 888-952-9105.

Credit Score Below 600

All Applicants with credit scores below 600 may still have the opportunity to purchase an affordable home. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com

 

We provide a weekly blogging information at increaseyourcreditscorenow.blogspot.com

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Should You Buy A Home?

Everyone wants to buy the biggest investment in life. Some investors have become rich in purchasing homes. After the housing bubble, people are not sure about purchasing a home. A home is as good as you save funds for an unexpected job market and repairs. Most people purchase homes under these conditions as follows:
1. Impress friends with the size of their home
2. Success shows their accomplishment in life
3. Keeping up with the Jones

We are going to review "IDEAL" in purchasing a home. People should learn something from the government that approves of these guidelines to purchase a home. Let review these principles under IDEAL
1. Income-purchase income properties for investment
2. Depreciation-the government gives you 27.5 years on residential investment property to write off depreciation. The seller is tax when the property is sold which is called recapture tax.
3. Equity-as you pay down the loan balance you acquire equity into the property. Today, most people are upside down in their homes.
4. Appreciation-Before the housing bubble home, a home appreciated at least 35% per year in some areas in the United States. After the housing bubble homes have depreciated, underwater, and they are worst less in the housing market. Some people refinanced their homes several times and took out all of their equity in their home.
5. Leverage-you invest a small down payment and finance the remaining of the loan. If you purchase a home for $100,000, you put down 3.5% of the sale price which is $3,500. The lender finances $96,500 under a government loan.

Let review a smart way to purchase a home. Don't let the bank tell you how much of a home that you can purchase.
1. Base your income on purchasing a home after tax not before tax. After tax is your net income the lender qualify you for loan based on gross income.
2. Set aside three months of reserve after you purchase the home and start build your egg nest to 12 months of mortgage payments.
3. Do not refinance your home unless you are going to make a high internal rate of return on your investment.
4. Know the job market in your area if you happens to lose your job.

Credit Score Below 600

All Applicants with credit scores below 600 may still have the opportunity to purchase an affordable home. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com

 

We provide a weekly blogging information at increaseyourcreditscorenow.blogspot.com

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ARE BANKS SQUEEZING YOU?

Our government passes new laws to improve the economy as the banks change their guidelines to make profit. Is this true? The lenders implement tighter restrictions for a buyer to acquire a loan. Today, it doesn't matter if a buyer has excellent credit because the restrictions are making it difficult to acquire loan.The reality is the government and the banks are tighten the lending industry. It is almost like good cop and bad cop in the real estate market. These guidelines comes from Fannie Mae, Freddie Mac and Ginnie Mae that implement these restrictions in the banking industry.

One of the main changes in the guidelines is purchasing another home if the buyer owns a home. The government hides behind the lending institutions, however, these guidelines are passed down to the lenders from the White House. If a buyer wants to purchase another home and they currently own a home, the buyer has to qualify for two mortgages. If the buyer hasn't filed rental income on their taxes, the buyer needs six months of reserve for both loans in order to qualify for another loan. It doesn't matter if you apply for a loan at Wells Fargo, Bank of America or Chase Mortgage because the White House passes the laws for the lending institutions.  These guidelines, Fannie Mae and Freddie Mac, are from the White House not the lending institutions.

Credit Score Below 600

All Applicants with credit scores below 600 may still have the opportunity to purchase an affordable home. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com

 

We provide a weekly blogging information at increaseyourcreditscorenow.blogspot.com

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The Boys Are Ridin Dirty Again!

The government plans to pass some new laws that will affect home ownership. In 2013 these laws are supposed to protect the consumer. No, these laws protect the investors on Wall Street that purchase these loans on the secondary market. These regulations may slow down the real estate market.

The new guys on the block are going to make a serious impact on the real estate market as follows: Consumer Financial Protection Bureau, Securities and Exchange Commission, Federal Housing Administration, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency. The government plans to implement these guidelines as follows:
1. 20% down payment to reduce home purchases
2. Raise the debt ratio
3. Let the lenders increase the cost to purchase a home (Realtor Magazine November)

These regulations are to protect the public in buying real estate homes. Where were the laws for Wall Street that caused the real estate catastrophe from their greed? There were no laws to protect the consumers or taxpayers from this mess. The door is still open for another housing bubble in the future because the White House hasn't fixed the problem. Now, let us pass some fake laws to stop the housing market for moving forward in the real estate market to protect the consumers. Let's dump on the little man, Main Street, again.

If these laws are passed, it will slow down the real estate market again. The government should be moving forward in the housing marketing not backward that slow down the housing market. However, Main Street should accept that the smartest guys in the room are on Wall Street as they pass their mess down to Main Street. Who'll bail them out again? Main Street, you the taxpayers.

Credit Score Below 600

All Applicants with credit scores below 600 may still have the opportunity to purchase an affordable home. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com

 

We provide a weekly blogging information at increaseyourcreditscorenow.blogspot.com

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Free Grant Money Up To $5,000 For VA First-Time Homebuyers

Military Housing Assistance Funds

All  First-Time-Homebuyers Veterans may qualify for a free grant up to $5,000 from the United States Government to purchase a home. The lender requires a credit score of at least 600 to qualify for a VA Loan. The Military Housing Assistance Fund provides a free grant for all military, reserve, guard, veteran and civilian employees of the military. The program was implemented to help military First-Time-Homebuyers out of pocket expenses to a minimum when purchasing their home.

 

Credit Score Below 600

All Applicants with credit scores below 600 may still have the opportunity to purchase an affordable home. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com. Our new additional service is sample letters to purchase on increase your credit score without purchasing the booklet.

We provide weekly blogging information on how to increase an applicant's credit scores and up-to-date information on real estate market at increaseyourcreditscorenow.blogspot.com

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How to qualify to buy another home without selling your home?

The Dodd-Frank Act was passed to help homeowners who were underwater with their mortgage loan. The program provided relocation assistance for homeowners that qualify for the funds. If the homeowner didn't qualify for the HARP, the homeowners could sell their home through the tradition short sale. With the tradition short sale, the homeowner may not qualify for the  relocation assistance funds.

What Should I do?

The idea is to take the advantage of the low prices in the market by buying a home to save money.  A homeowner may want to sell their home if they are not underwater with their mortgage. A homeowner may be stuck because the only way to sell their home is through a short sale. If the homeowner doesn't have the extra funds to bring to closing, the only way to sell the home is through a lender approval for a short sale.

 Selling My Home

A homeowners may lose between 150 to 250 points by selling their home through a short sale. A short sale is a pre-forclosure and it takes an impact on the credit report. It doesn't matter if the homeowner paid their mortgage on time. The lender reports the sale as a short sale and the homeowner is penalized by not staying in their home. The homeowner can't take the advantage of the great deal out there to buy another home and sell their home. The government has stuck the homeowner into a house that is underwater instead providing the opportunity for homeowner to move-up into the housing market. The homeowner has to pay he penalty for Wall Street greed.
 

New Guidelines

The homeowner may buy another home but the homeowner must qualify for two mortgage payments if the homeowner doesn't  sell their home. The lender requires the homeowner to have six months of reserve for both mortgage payments.

Credit Score Below 600

All Applicants with credit scores below 600 may still have the opportunity to purchase an affordable home. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com

 

We provide monthly newsletters on how to increase an applicant's credit scores and weekly blogging information at increaseyourcreditscorenow.blogspot.com

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They're RIDIN DIRTY!

HARP and HAMP

The HARP, Home Affordable Refinance Program, was implemented to slow down the falling real estate market. If the government wouldn't have stepped in to save the real estate market, the housing market would have been worst than it is today. The homeowner has to meet the requirements for HARP in order to qualify for the program. If the credit score is not at least 620 or higher, and no late payments within a year, the homeowner doesn't qualify for the program. The programs, HARP, Home Affordable Refinance Program and HAMP, Home Affordable Modification Program will expire on December 31, 2013.

The homeowners have to close their loans before January 1, 2014. These loans are sold to Wall Street on the secondary market. The government owns 60% of the Fannie Mae and Freddie Mac loans. The HARP assists homeowners with their mortgage payments if the homeowners have paid on time.

Truth-Riding Dirty

The lenders, credit bureaus, collection agencies and government are all riding dirty. All homeowners need to check with their lender on the way the loan is rated on their credit report. To participate in one of these programs, the home owner may lose approximately 100 points on their credit scores. The lenders are making money off these programs. Most of  the lenders are extending the mortgage terms to 40 years for the lowest interest rate reduction. The lenders don't have to do a principal reduction on a loan. If a homeowner has excellent credit, the homeowner may take a hit on their credit report for participating under the HARP or HAMP.

The government has requested the lenders and the credit bureaus to change the way these loans are coded on the credit report under the HARP, Home Affordable Refinance Program and HAMP, Home Affordable Modification Program. If the credit scores are lowered, the lenders make more money by charging high interest rate on credit cards.

Under a  FHA loan the homeowner has to miss a payment to qualify for a short sale. A late payment on any credit account reduces credit score approximately 45 points on the credit report. All homeowners should check their credit report before accepting the HARP and check their credit report after receiving the program.

Credit Score Below 600

All Applicants with credit scores below 600 may still have the opportunity to purchase an affordable home. The booklet, "Increase Your Credit Score After Short Sale, Foreclosure and Bankruptcy", provides the techniques to increase an applicant's credit scores. The program offers “FREE 30 DAYS COACHING” as well as the booklet at increaseyourcreditscorenow.com

 

We provide monthly newsletters on how to increase an applicant's credit scores and weekly blogging information at increaseyourcreditscorenow.blogspot.com

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