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GUARANTEED LOAN HELP
An Adjustable Rate Mortgage, called an ARM for short, is a mortgage with an interest rate that is linked to an economic index. The interest rate, and your payments, are periodically adjusted up or down as the index changes. These loans can be a disaster for homeowners either strapped with overwhelming mortgage payments or other bills which have risen and are having trouble keeping up. The loss of a job, injury or disability can also reek havoc for some homeowners with rates that are adjusting higher. GUARANTEED LOAN HELP.com can help and has been so successful, that other National organizations are starting to take notice.
America's five-year real estate boom was fueled partly by a tempting array of cut-rate mortgages that helped millions of Americans qualify for home or refinance loans. To afford soaring home prices, many turned to adjustable-rate and other, riskier loans with low initial payments. The homeownership rate hit a record 70%. Now, the real estate market is cooling, interest rates are rising and tens of thousands more Americans are starting to have trouble paying their mortgages. Nearly 25% of mortgages — 10 million — carry adjustable interest rates. And most of them went to people with sub-par credit ratings who accepted higher interest rates, according to the Mortgage Bankers Association.
The number of borrowers in trouble will rise this year and peak in 2007 and 2008 as the largest number of mortgages reset to higher rates, according to First American Real Estate Solutions, a real estate data provider. Most of those foreclosures are related to job losses in auto and garment factories; higher mortgage payments were often the last straw. Of the 7.7 million households who took out ARMs over the past two years to buy or refinance, up to 1 million could lose their homes through foreclosure over the next five years because they won't be able to afford their mortgage payments, and their homes will be worth less than they owe, according to Cagan's research. The losses to the banking industry, he estimates, will exceed $100 billion. That's less than the damage from the savings-and-loan crisis in the 1990s, which cost the country $150 billion. "It will sting the economy, but it won't break it," he says.
The number of borrowers in trouble will rise this year and peak in 2007 and 2008 as the largest number of mortgages reset to higher rates, according to First American Real Estate Solutions, a real estate data provider. Most of those foreclosures are related to job losses in auto and garment factories; higher mortgage payments were often the last straw. Of the 7.7 million households who took out ARMs over the past two years to buy or refinance, up to 1 million could lose their homes through foreclosure over the next five years because they won't be able to afford their mortgage payments, and their homes will be worth less than they owe, according to Cagan's research. The losses to the banking industry, he estimates, will exceed $100 billion. That's less than the damage from the savings-and-loan crisis in the 1990s, which cost the country $150 billion. "It will sting the economy, but it won't break it," he says.In the New York area, credit and mortgage experts, Guaranteed Loan Help.com say 45% of their new members are now related to ARM or interest-only loans. The volume jumped after January, as holiday credit card bills, higher gas bills and rising mortgage payments hit some borrowers at the same time.
Banking regulators are concerned about risky loans made to people with precarious finances or those who didn't understand the complex terms and the peril they could face if interest rates rose. In December, regulators proposed new guidelines for mortgage lenders to crack down on loose lending practices. The rules would require better risk disclosure and a fuller analysis of the borrowers' ability to repay the loan through maturity — and at the highest rates allowed under the loan terms. Bank trade groups complained that concerns were overblown. "We do not believe it is appropriate or possible for the lender to dictate the best mortgage products for individual consumers,"
America's Community Bankers responded. No matter what the final guidelines say, they will be too late to help people such as Lisa Conners. She got into trouble after she took out an equity line of credit on her home in Lilly, NM., to pay off her car and other bills. As a single mother with total income of $37,000 a year, including child support, she never would have been able to qualify for the $52,000 line of credit from a conservative lender. That line of credit, when added to the balance on her fixed-rate mortgage, totaled $10,000 more than her home was worth. The monthly payments for the equity line have more than doubled in four years, to about $400. (She also has a $700-a-month mortgage and hefty credit card bills.) "I can pay it, but I have nothing left over to eat," says Conners, a analyst for a computer company. "I'm going to lose my house."
There are few resources to help homeowners in dire financial straits, but there are some. GUARANTEED LOAN HELP offers and lender and mortgage renegotiations. New members can sign on 24 hours a day, seven days a week. There are other national non-profits that supports homeownership and financial literacy, but help could be very slow as the workers are volunteers.
Marissa Rozwell is one of their success stories. She refinanced her loan in 2007. Rozwell, 38, is a U.S. postal worker who's living on a tight budget. She agreed to an ARM that reset every six months. She kept up with her payments on her house on the southeast side of Chicago until last April, after her Son, who was helping her pay the mortgage, lost his job. Last week, Rozwell refinanced her home with the help of GUARANTEED LOAN HELP. She got a 6.2%, fixed-rate loan, plus a grant to help make long-neglected repairs. “If it wasn't’t for GUARANTEED LOAN HELP.com I don’t know where I’d be today“, "I’m getting all choked up… They saved us from losing this home” she said. “They were so fast too”, she added. Sounds like the folks at GUARANTEED LOAN HELP are gaining some great fans these days.
As Reprinted from the Sunshine Democrat
Guaranteed Loan Help.com has been helping homeowners who are facing foreclosure, or in jeopardy of doing so because they have missed mortgage payments. Avoiding foreclosure for any home owner is a very difficult process, because in most cases, a lender or mortgage company doesn’t even want to talk to the home owner, let alone work out a solution. The reasons behind this may vary depending on the lender, however most homeowners become very frustrated after a few attempts because of the shear resiliency of the mortgage company to deal with these issues with home owners that do not understand the process. That’s where a professional foreclosure mediator comes in and can get results for those home owners that want to avoid foreclosure or other lending issues that may be affecting their lives.
Guaranteed Loan Help.com are the experts you need to call when faced with these horrible situations. We are extremely fast (24 hours or less GUARANTEED) in contacting your lenders servicing agents, and we get fast results. Our National Recognition has been clearly accepted as one of the most effective ways of assisting homeowners facing such problems. Avoidance and stopping foreclosure is what we do, and what we do best.
WE DON’T TAKE DAYS OR WEEKS TO START HELPING YOU. 24 HOURS GUARANTEED !
We have extensive computerized network software custom designed for GUARANTEED LOAN HELP exclusively that provides us with contacts at EVERY mortgage lender and service agent in the business, in fact our database and DIRECT contact software list took over a year to comply and thousands of dollars to compile. Updated every month with the NEWEST contact information, we have the sources to get your case to the RIGHT people in hours, not days, weeks or even a month. The difference is SPEED and CONTACT!
Time is NOT on your side when it comes to foreclosure and getting your lender to LISTEN. Half the battle is getting the right people who service YOUR loan to answer and LISTEN to reason. We have the capability and the resources to do just that. Let’s explore this a moment. Have YOU contacted your lender? Seem impossible to get SOMEONE, ANYONE to even have A CLUE to HOW to HELP YOU? Our point exactly! You NEED the RIGHT CONTACTS and the “GO TO” person to listen to YOUR NEEDS! We do just that.
We also aid those with ARM’s or Adjustable Rate Mortgages that are about to reset (about to go up) or those which have reset, and are proving difficult for homeowners to make those new payments. If you have difficultly understanding what is happening with your mortgage, we will explain.
An adjustable rate mortgage, called an ARM for short, is a mortgage with an interest rate that is linked to an economic index. The interest rate, and your payments, are periodically adjusted up or down as the index changes. These loans can be a disaster for homeowners either strapped with overwhelming mortgage payments or other bills which have risen and are having trouble keeping up. The loss of a job, injury or disability can also wreak havoc for some homeowners with rates that are adjusting higher. GUARANTEED LOAN HELP.com can help and has been so successful, that even government organizations are starting to take notice.
Guaranteed Loan Help.com will help you fast. Check us out now and see the results in 24 hours. www.GuaranteedLoanHelp.com
NEW YORK (CNNMoney.com) -- Senator Hillary Clinton spelled out the details of her subprime bailout plan Wednesday, calling for a 90-day moratorium on foreclosures and a five-year freeze on the interest rates of adjustable rate mortgages (ARMs).
In August, the democratic presidential hopeful asked legislators to ban prepayment penalties on mortgages, but her new plan goes much further, and bears similarities to other proposals.
Hillary Rodham Clinton, urged for a moratorium on foreclosures for 90 days on homes with subprime mortgages and a five-year long period of freeze on the interest rates that those borrowers would have to pay.
She addressed a letter to Treasury Secretary, Henry Paulson, who is now ready to announce the Bush administration’s responsibility to today’s housing problems. Clinton, in her remarkable foresight, notes that today’s foreclosures continue to pose incalculable loss to the economy. Clinton has stated that the mortgage problems have gone way beyond the state of transparency to the common people. At a news conference on last Sunday of December 2008, she has mentioned that what every Iowan should look forward to is, to have accurate information when they make decisions about undergoing mortgage payments.
Clinton has indicated that the battle within the Democrats is about how to get things done in a rougher manner. But she stresses that coming to the last month of the year she wants to start drawing contrasts from the way it has been with foreclosures so far.
Clinton has already dared to go further than her Democratic rivals and revealed what the administrators think about the decisions made on foreclosures. Clinton has introduced a bill which would go on to make mortgage fraud a severe criminal offence. The bill also reinstates that such fraudulence attracts favors national funds to help the lenders who are severely in danger of losing their homes. Hillary Clinton is no dummy. Even her detractors know that. And yet in last night's Democratic presidential debate in Nevada, Clinton floated what is perhaps the dumbest solution to the current mortgage mess I've heard from a top presidential contender. "I have a plan Clinton said - a moratorium on foreclosures for 90 days and freezing interest rates for five years, which I think we should do immediately," Clinton announced at what was the last Democratic debate before the Nevada Caucus on Jan. 19. A 90-day moratorium on foreclosures would throw a lifeline to some deserving homeowners, though I suspect it would only delay the inevitable for most. That's not my beef. Where Clinton goes awry is her proposal to freeze mortgage rates for five years, which is essentially a much broader version of a deal President Bush recently hammered out with lenders to assist some subprime borrowers. If Clinton's only goal were to bail out homeowners facing steep rate resets on adjustable mortgages, her plan would work just fine. When it comes to a rate freeze. Clinton and the Mortgage Bankers Association aren't exactly disinterested parties, of course. A freeze would directly impact the bottom line of MBA members. However, when I discussed Clinton's plan with a more sympathetic economist - one who'd worked for Bill Clinton. "This is an ugly correction, but it's a necessary one, foreclosures are subprime mess," says Jared Clinton, a senior economist with the liberal-leaning Economic Policy Institute. "This kind of an idea is a little bit of untying your shoes with a buzz-saw."
We have been helping homeowners who are facing foreclosure, or in jeopardy of doing so because they have missed mortgage payments. Avoiding foreclosure for any home owner is a very difficult process, because in most cases, a lender or mortgage company doesn’t even want to talk to the home owner, let alone work out a solution. The reasons behind this may vary depending on the lender, however most homeowners become very frustrated after a few attempts because of the shear resiliency of the mortgage company to deal with these issues with home owners that do not understand the process.
That’s where a professional foreclosure mediator comes in and can get results for those home owners that want to avoid foreclosure or other lending issues that may be affecting their lives.
First of all, you need to be aware that a mortgage lender can foreclose your home for two reasons. The first one is defaulting on your payments. If you are late, or going to be late, DO SOMETHING! Generally, lenders will issue a Notice of Default if you miss three mortgage payments consecutively. Another possible ground for foreclosure would be a violation on a major regulation or policy of the lender. We are experts in solving these problems. Most homeowners believe that foreclosure laws are designed to hurt rather than help them. Not so. The secret is that foreclosure laws have evolved to protect the borrower--not the lender. There, I've said it. The secret is out! Now listen closely and understand why I say this. The foreclosure process gives you, the borrower, specific periods of time in which to:
bring your loan current by making up the missed payments (known as "reinstatement"), or
pay off your loan in its entirety (called "redemption").
If neither of these options is feasible, you will still have time to prevent your property from being sold at a public auction (the foreclosure sale).
You will get the most benefit out of the foreclosure process if you envision this secret as a "window of opportunity" to resolve your financial problems. During this window of opportunity, you have time to learn about the foreclosure process and implement a strategy to stop the foreclosure. Another basic misconception about foreclosure is that lenders want to foreclose. Nothing could be further from the truth! Lenders are in the business of loaning money--not owning real estate.
They don't want your house back for numerous reasons. Lenders are reluctant to incur the costs of a foreclosure. For example, if your lender is forced to foreclose, it will not only lose your back payments, but it will also incur foreclosure expenses, taxes, insurance, wear and tear while you (or your tenant) live in the property, repair costs to refurbish the property for sale, and a real estate agent's commission once the property is sold. As a result, many lenders will go out of their way to work out a resolution--short of actually foreclosing--if you give them the opportunity.
The secret to stopping your foreclosure is communicating with your lender. With the sudden avalanche of foreclosures and defaults, lenders are more eager than ever before to workout a solution rather than foreclosing. Lenders will do almost anything to avoid increasing their overflowing REO inventory of foreclosed properties. GuaranteedLoanHelp.com are experts in solving these problems.
Don't shy away because you've missed payments, concerned that you will miss some payments in the future, or that your property has already gone into foreclosure. The problem is communication by you, either by telephone, letter, email, fax, or in person, falls on deft ears. Lenders have almost “a code of silence”. The secret is to negotiate directly with someone with "authority" at your lender's office, WE KNOW THESE PEOPLE usually on a first name basis. The first step is to determine who your lender actually is. ( We KNOW who they are, but this is no small feat these days with lenders selling their loans to other lenders like hot potatoes.) If your property has already gone into foreclosure, the first person you will be dealing with will either be the foreclosing trustee, or the attorney for the lender. If it is a judicial foreclosure, you will most likely be contacted by a process server, sent by the lender's attorney. If it is a non-judicial foreclosure, the trustee is responsible for handling the foreclosure process. You will need to contact these people.
But the secret is that you will be more successful if you communicate directly with your lender, rather than the trustee or the attorney. So you should request from the trustee or the attorney, the name, telephone number, and address of the foreclosing lender. In the unlikely event that they refuse to disclose the name of your lender, you can look on the Notice of Default, or the summons and complaint, or telephone the customer service department of a local title insurance company. Another situation may occur where you discover the name of your lender, but it turns out to be a servicing agent rather than the party that actually holds the deed of trust or mortgage. A servicing agent is a company (sometimes it can be a bank, mortgage company, or private corporation) that is hired by the actual lender to "service" the loan, (issuing mortgage statements, payment coupons and late notices, collecting payments, monitoring the impounding of insurance and tax payments, and handling foreclosures if necessary). Fortunately, most servicing agents will disclose the name of the lender. If they won't, you may be forced to negotiate with the servicing agent. In the interim, you will receive threatening calls from collection agents at the lender's office. Do not under any circumstance ignore your lender's contacts. Your goal should be to respond to every phone call or letter. Difficult as it may be to talk about your financial problems, be polite and cooperative. We have help hundreds of people resolve these problems successfully.
Credit card debt and tax debt and Mortgage problems are common problems in American households and mortgage foreclosure are increasing week by week, month by month. We are the Guaranteed Loan Help Debt Group and we are here to offer an alternative to the debt negotiation firms that promise everything and deliver nothing. The Guaranteed Loan Help Debt Group’s only has professional negotiators throughout the nation who are credit card debt settlement specialists. Our professional negotiators will arbitrate your credit card debt, and often will negotiate a payment plan that will allow you to pay pennies on the dollar. ?2006 year-end statistics show current credit card debt levels, overdue personal income taxes and increasing adjustable mortgage rates are the primary reasons why many Americans live from paycheck to paycheck. The Guaranteed Loan Help Debt Group’s professional negotiators can provide relief in the form of debt reduction for people like you so that you can become debt free and start fresh. Discharging credit card or tax debt through bankruptcy, debt consolidation programs, or installment agreements are not the only solutions. Moreover, the new bankruptcy rules have disqualified many hard-working Americans like you and Bankruptcy has huge economic and emotional down sides and takes a tremendous toll on your credit rating. ?Debt consolidation requires you to pay back 100% or more of your debt and many debt consolidation companies are funded by credit card companies. Installment agreements for taxes or credit cards only prolong your agony. The Guaranteed Loan Help Debt Group offers real relief in the form of an alternative to bankruptcy and debt consolidation called debt settlement and it truly works. Our professional negotiators utilize proven debt settlement and arbitration techniques to help rid you of credit card debt. Our professional negotiators will assist you in doing the same for your state tax debt and federal income tax debt so that you can regain control of your finances. ?Debt arbitration by professional negotiators is the clear choice to debt consolidation, debt elimination, or bankruptcy. We like to think that our professional negotiators "wrote the book" on debt relief. Our debt arbitration program provides instant relief and is an effective way to reduce your debt. In addition to providing you with instant debt relief our debt settlement program is simple to understand and easy follow. Our affiliated law firm’s debt arbitration specialists will negotiate a long or short-term debt reduction program with your creditors and our professional negotiators tax firm will do the same with the Internal Revenue Service. In short, our professionals will provide immediate relief and quickly put you in a position to begin restoring your credit. Are Credit Card Companies, The IRS, State Taxing Authorities or Collection Companies Harassing You? Our professional negotiators are specialists who will immediately put an end to creditor and IRS harassment because upon being accepted into our program, your creditors will stop calling you at home or work and will call our debt settlement and tax arbitration counselors instead. All correspondence from creditors relative to your debt arbitration will come directly to our professional negotiators who will immediately contact your creditors immediately after you enter our proven debt settlement program. Remember, our professional negotiators will provide immediate relief because they deal with your creditors for you. We get you out of debt fast and immediately help your cash flow. We are debt settlement negotiators that will negotiate settlements with your creditors or our professional negotiators will negotiate with the IRS or state tax agency. The result may be a settlement of pennies on the dollar. Our proven debt settlement programs allow you to pay back a fraction of what you owe as quickly as possible. You will make monthly payments based on projected settlement amounts which are typically lower than the amounts you currently pay the credit card companies so you will retain more of your hard earned dollars for the people that are important: you and your family! Now that is real debt relief! ?The Guaranteed Loan Help Debt Group is committed to providing the highest level of customer service. The success of our debt settlement program rests solely on the relationships we build with our clients and with consumer lending institutions. These relationships are built on trust, understanding, and mutual respect. Our professional negotiators have two goals in mind: debt reduction and financial freedom. So why not conquer your debt without the devastating effects of bankruptcy? Our debt settlement program will make you debt free far sooner than other credit counseling programs without the terrible blemish of a bankruptcy on your record. Contact us TODAY !