for all your foreclosure prevention information

At www.UnitedLossmitigation.org, we have been offering free foreclosure help to homeowners for the past 6 months and has become the #1 most trusted website for struggling borrowers. Over 25 homeowners have saved their home by getting mortgage help using the tools on this website to negotiate a loan modification or short sale.

www.UnitedLossmitigation is a safe website for homeowners to obtain free foreclosure information.

Many homeowners have been victimized by predatory lending and mortgage fraud and they do not even realize that until they come to our website. Our experts have been able to identify these abuses and then direct homeowners to the proper foreclosure relief and tools to give them the mortgage help they need.

Please visit our website where you can ask questions and get answers to your unique foreclosure problem. Get the help you need from industry experts in foreclosure prevention.

Please go to WWW.UNITEDLOSSMITIGATION.ORG

Removing MIP from FHA loans

Removing MIP from FHA Loans is one of the happiest moments for most borrowers in FHA Loans. However, I am continually asked by loan officers how and when these payments end. The misunderstanding of this is almost pandemic.

Mortgage Insurance Premiums on FHA Loans are not the same as Private Mortgage Insurance on conventional loans. Additionally, they differ in how and when they are removed from the loan. For those of you that have questions about how and when MIP does come off FHA Loans, please CLICK HERE to get more information.

FHA Reform Could Mean Good News for Bad Credit Borrowers

With defaults and foreclosures on the rise it’s becoming clear that many homeowners are in worsening shape over their home loans. In the past a mortgage refinance would have spelled relief, but with home values rising more slowly this isn’t an option for everyone.

The Future of Your Bad Credit Mortgage

Recently the National Association of Realtors® appeared before Congress with the goal of enacting Federal Housing Authority (FHA) reform. NAR recognizes the fact that many homeowners are not in a good position with their mortgages, especially those with poor or bad credit, and argued that the solution lies in changes to the Fha program. For years the FHA loan has been an excellent program for low-income and bad credit borrowers–providing they met certain criteria. Because the Federal Housing Authority insures the loan, lenders are often willing to extend credit to those that might otherwise get turned away. NAR’s reform proposals could spell relief to those in need of a mortgage refinance.

New Refinance Options Proposed

A few of the changes NAR suggested were eliminating the 3% down payment requirement, raising loan limits, and providing risk-based pricing. Said NAR spokesperson Iona Harrison, “The FHA program makes it possible for higher risk, yet credit-worthy, borrowers to get prime financing.” However, one of the best suggestions from NAR proposed that the FHA waive its requirement that a homeowner be current on their mortgage in order to refinance to an FHA Loan. According to NAR President Pat Combs, this could help many “to skirt foreclosure and keep their homes.”

A Brighter Outlook for Bad Credit Borrowers

This news spells a positive outlook for homeowners with bad credit who need to refinance their way out of trouble. Much of the press recently has been negative: homeowners bought homes they couldn’t afford and lenders got too greedy. Whatever the cause may be, it’s clear that the NAR is trying to come up with solutions. If you want to get involved contact your Congressman and ask them to support the proposed FHA reforms. It could help more than you think.

To get a free FHA mortgage quote, go to: www.FhaStreamlineOnline.com.

Five Easy Steps to a VA Loan

VA Appraisal – Certificate of Reasonable Value

The CRV (certificate of reasonable value) is based on an appraiser’s estimate of the value of the property to be purchased. Because the loan amount may not exceed the CRV, the first step in getting a VA loan is usually to request an appraisal. Anyone (buyer, seller, real estate personnel or lender) can request a VA appraisal by completing VA Form 26-1805, Request for Determination of Reasonable Value. After completing the form, it can either be mailed to the Loan Guaranty Division at the nearest VA office for processing or an appraisal can be requested by telephoning the Loan Guaranty Division for assignment of an appraiser. The local VA office may be contacted for information concerning its assignment procedures. The appraiser will send a bill for his or her services to the requester according to a fee schedule approved by VA. To simplify things, VA and HUD/FHA (Department of Housing and Urban Development/Federal Housing Administration) use the same appraisal forms. Also, if the property was recently appraised under the HUD procedure, under certain limited circumstances, the HUD conditional commitment can be converted to a VA CRV. The local VA office can explain how this is done.

It is important to recognize that while the VA appraisal estimates the value of the property, it is not an inspection and does not guarantee that the house is free of defects. Homebuyers should be encouraged to carefully inspect the property themselves, or to hire a reputable inspection firm to help in this area. VA guarantees the loan, not the condition of the property.

Application

The application process for VA financing is no different from any other type of loan. In fact, the VA application form is the same as that used for HUD/FHA and conventional loans. The mortgage lender verifies the applicant’s income and assets, and obtains a credit report to see that other obligations are being paid on time. If all is well and the appraised value of the property is enough to cover the loan needed, the lender, in most instances, can then close the loan under VA’s automatic procedure. Only about 10 percent of VA loan applications have to be submitted to a VA office for approval before closing.  To receive a free loan quote and all VA loan information,  go to www.VaStreamlineOnline.com.

FHA Home Loan for First Time Homeowners

The Federal Housing Administration was started in 1934 to improve housing conditions in America, and more than 70 years later, that is still exactly what they are doing. They provide loans for purchasing houses as well as programs to refinance a house that you are already living in but need to refinance. One of their most popular types of financing is the FHA home loan going to first time homeowners.

In any given year, somewhere around 75% of the financing approved by the Administration goes to first time homeowners. Younger people who are looking to own their first homes are frequently daunted by house prices and the available financing options. When you look at a mortgage plan and it says 30 years, some people start to feel a little faint in the head. For a lot of first time homeowners, the prospect of paying for their house over 30 years means that they will be paying their house off for longer than they have been alive. This prospect is, understandably, sometimes a baffling one.

The folks at the Federal Housing Administration work with a variety of clients looking to buy a house or to refinance their current house. Their rules are quite simple when it comes to who can finance a house and who can not, but one rule to keep in mind is that borrowers can only hold one FHA home loan at a time. So if you are looking to finance a second residence, but are still paying for your first house, the Federal Housing Administration will not be able to help you out. Of course, this stipulation does not affect first time homeowners.

The financing plans given to first time homeowners are identical to those given to others, with the exception of those who have lost their residence in a disaster. Only disaster victims can obtain a financing plan without putting down any percentage of the purchase price. For all other borrowers, including first time homeowners, the amount that has to be put down up front is 3% of the total purchase price.

Beyond that universal 3% down payment for an FHA home loan, your interest percentage will depend on many factors. Starting interest rates are between 6-6.5%, but there are a lot of additional factors that are taken into consideration when calculating what the exact interest rate will be for each customer. Your credit score is considered, as well as the amount you are financing, whether or not you have a co-borrower (non-resident) and whether or not the house you are financing is a manufactured one.

If you are in the market for becoming a first time homeowner, and are not quite sure where to start, go to www.FhaStreamlineOnline.com for all your fha loan information and a free quote.

Still Under a Mortgage? Try an FHA Refinance Plan

The Federal Housing Administration offers home loans to first time homeowners as well as people looking to purchase a second or third or fourth home. However, in addition to these services helping people to get into a home in the first place, the Administration also offers the opportunity to enter into an FHA refinance plan which allows homeowners to save money in the long run. If your mortgage still has a considerable number of years before it will be paid off and your interest rate is higher than you would like it to be, you might consider rethinking your repayment plan for your home.

Sometimes people get rates on mortgages that are not ideal at all. If you bought your house a number of years ago, especially if you were young with a less than perfect credit history, your interest rate is probably at a rate much higher than it could be. If your mortgage will be paid off in two years, it might not be worth it for you to spend the time reworking your paperwork in order to get a lower interest rate, but if you still have 10-20 years left on your mortgage, a new plan might be worth the time.

When it comes to an FHA refinance plan, you will be able to get a lower interest rate than the one you were initially given if you borrowed from a bank or other lender. Since the Federal Housing Administration is backed by the government, you can be sure that this refinancing is a legitimate thing. In the 21st century, there are too many lenders out there with so much fine print that nobody understands all of it even if they take the time to read all of it. When it comes to working with the Federal Housing Administration, you can be sure that the services you are getting are the top of the line.

Perhaps it is time to start thinking about putting money into an account for your children to go to college, or perhaps you are getting ready to make some other large financial commitment. These are very good reasons to think about finding out if an FHA refinance plan could help you to put some of the money that you are currently putting into your mortgage into some other account, such as a college fund. The interest rates offered by the Federal Housing Administration are generally around 6%, which might be lower or higher than your current interest rate.

In order to find out if reworking your current mortgage would mean saving you some money, you will have to take a look at your current mortgage and interest rate. It is not true in all cases that going ahead with an FHA refinance plan will mean getting a lower interest rate.

In order to find out how you can rework your particular situation, visit www.FhaStreamlineOnline.com and get a free loan quote and all your fha loan information. Visit today to learn more.

US Air Force Bases – Housing for Military Personnel

For all our military personnel, the following is a list of Air Force Bases in the United States.  If your looking to purchase a home within the location of any of these bases, go to www.Vastreamlineonline.com to get all you Va Loan information.  If your an existing home owner  who lives near any of these bases throughout the US,  maybe you want to consider a VA streamline Refinance or VA Cash-out Refinance.  Va Streamline loans are quick, painless and simple. Just go to the above mentioned website for all you information on va streamline loans.

US Air Force Bases

• Altus Air Force Base,Oklahoma
• Andrews Air Force Base, Maryland
• Arnold Air Force Base, Tennessee
• Barksdale Aire Force Base, Louisiana
• Beale Air Force Base, California
• Bolling Air Force Base, Washington D.C.
• Brooks Air Force Base, Texas
• Cannon Air Force Base, New Mexico
• Charleston Air Force Base, South Carolina
• Columbus Air Force Base, Mississippi
• Davis-Monthan Air Force Base, Arizona
• Dover Air Force Base, Delaware
• Dyess Air Force Base, Texas
• Edwards Air Force Base, California
• Eglin Air Force Base, Florida
• Eielson AFB, Alaska
• Ellsworth AFB, South Dakota
• Elmendorf Air Force Base, Alaska
• Fairchild AFB, Washington
• Fort Worth NAS JRB, Texas
• Francis E. Warren AFB, Wyoming
• Goodfellow AFB, Texas
• Grand Forks AFB, North Dakota
• Hanscom AFB, Massachusetts
• Hickam AFB, Hawaii
• Hill AFB, Utah
• Holloman AFB, New Mexico
• Hurlburt Field, Florida
• Keesler AFB, Mississippi
• Kelly AFB, Texas
• Kirtland AFB, New Mexico
• Lackland AFB, Texas
• Langley AFB, Virginia
• Laughlin AFB, Texas
• Little Rock AFB, Arkansas
• Los Angeles AFB, California
• Luke AFB, Arizona
• MacDill AFB, Florida
• Malmstrom AFB, Montana
• Maxwell AFB, Alabama
• Maxwell AFB Gunter Annex, Alabama
• MCB Camp LeJeune
• MCB Camp Pendleton
• MCB Camp Smedley Butler
• McChord Air Force Base, Washington
• McClellan AFB, California
• McConnell AFB, Kansas
• McGuire AFB, New Jersey
• Minot AFB, North Dakota
• Moody AFB, Georgia
• Mountain Home AFB, Idaho
• Nellis AFB, Nevada
• Offutt AFB, Nebraska
• Patrick AFB, Florida
• Peterson AFB, Colorado
• Pope AFB, North Carolina
• Randolph AFB, Texas
• Robins AFB, Georgia
• Schriever AFB, Colorado
• Scott AFB, Illinois
• Seymour Johnson AFB, North Carolina
• Shaw AFB, South Carolina
• Sheppard AFB, Texas
• Tinker AFB, Oklahoma
• Travis AFB, California
• Tyndall AFB, Florida
• Vance AFB, Oklahoma
• Vandenberg AFB, California
• Whiteman AFB, Missouri

Wright-Patterson AFB, Ohio

Why VA Loans are Easier to Qualify for than Traditional Loans

Veterans know that if they plan to use the VA Home Loan Guarantee Program to purchase a home that they are taking advantage of a valuable benefit that they earned from their service. This benefit allows veterans who are eligible to purchase a home with easier qualifying guidelines that traditional lenders.

Some of the reasons it is easier for a veteran to purchase a home through the VA Home Loan Guarantee Program include:

• The VA guarantees the loan. When a lender sees that a portion of the loan is guaranteed by the VA, they know they have a low risk investment. Even if the veteran does not pay the loan, the lender will still get some of their loan money back and the property to sell. This makes the loan more secure that traditional borrower’s loans and is one of the reasons why it makes it easier to qualify for applicants.

• Their eligibility can be determined within minutes. All a veteran needs to do is go into a VA approved lender and they can determine through the ACE system on the computer if the veteran is eligible to use the VA home loan guarantee program.

• The VA helps veterans who are in jeopardy of losing their homes. Lenders feel more secure knowing that the VA is behind these borrowers because the VA will help find solutions to problems in the case a veteran has financial difficulties. As a result of this, the borrower is less likely to default on their loan and the lender is more confident that they will be repaid by the terms of the mortgage contract.

• If you are still active in the service, then your employment is easily verifiable. One road block many people face is proof of income and employment. If you are an active service member then your income and employment are verified by the Federal Government.

• You are purchasing a home with no down payment, but it is treated as if you have a down payment. Even if you have $0 down, the lender considers the VA guarantee to be similar to a down payment. All a down payment does is ensures the lender that you are invested in the home purchase and will not walk away without paying back the loan. It also allows them to have some equity in your home in the case they need to sell it so that they can make their money back. With the VA guarantee the lender is already certain they will get their money back, so a down payment is not necessary.

If you are a veteran considering a near future home purchase, you should take advantage of the VA Home Loan Guarantee Program in order to have an easier time qualifying for a loan. For more information on the VA Home Loan Guarantee Program go to www.VaStreamlineOnline.com