FHA Secure Termination
In accordance with HUD Mortgagee Letter 2008-13, the FHA Secure program will expire on December 31, 2008. The FHA Secure program offered expanded guidelines for borrowers currently delinquent on their mortgages due to ARM Rate Resets, as well as Rate/Term Refinance transactions from non-FHA mortgages to FHA Fixed Rate Mortgages. These provisions were only temporary.
* After December 31, 2008 HUD will no longer issue Case Numbers under the FHA Secure program
* Most Lenders will allow loan registrations dated prior to December 29, 2008. No loan registered with some lenders on or after December 29, 2008 may be registered as a FHA Secure loan. The loan file must have a completed and signed loan application at the time of loan registration.
* There are no specified deadline dates for Underwriting Approval, Lock, Close, Fund, or Delivery.
* HUD is in the process of working on expanded guidelines to accommodate those borrowers who may be delinquent on their current mortgage and do not qualify under standard HUD guidelines. I will work diligently to accommodate any new HUD guidelines as quickly as reasonably possible.
* All new non-delinquent non-FHA refinance transactions, registered on or after December 29, 2008 will follow standard HUD.
To get registered today please click here:
615-482-1498
FHA Refinance Mortgage Options
Homeowners enjoy the benefits of investing in their property year after year. For some, there comes a time when that investment can come in handy. Refinancing with an FHA loan can prove to be an effective way to put that equity to work.
Sending a child to college, consolidating bills, taking a much needed vacation, or making home improvements are some of the ways homeowners tap into the equity they have accumulated in their home to help with these expenses. Keep in mind that FHA refinancing is only available to homeowners who are currently using their home as their principal residence.
FHA offers several different options to homeowners who are considering an FHA refinance mortgage:
FHA REFINANCE: CASH OUT REFINANCING
This refinancing option is especially beneficial to homeowners whose property has increased in market value since the home was purchased. A Cash Out refinance allows homeowners to refinance their existing mortgage by taking out another mortgage for more than they currently owe, therefore repaying their current mortgage and using the equity they have built up in their home to take out another larger mortgage. This allows the homeowner to access the equity they have built up in their home and put it to good use where needed.
In order to get the most benefit from refinancing your mortgage, it is often best to consider refinancing after you have had time to build up a significant amount of equity in your home. If the property was purchased more than one year prior to the refinance, the homeowner can refinance the existing mortgage for up to 85 percent of the appraised value plus the allowable closing costs, which vary from state to state.
FHA REFINANCE: STREAMLINED REFINANCING BASICS
This refinancing option is considered streamlined because it allows you to reduce the interest rate on your current home loan quickly and oftentimes without an appraisal. FHA Streamlined Refinance also cuts down on the amount of paperwork that must be completed by your lender saving you valuable time and money.
In order to qualify for a Streamlined Refinance your original home loan must be an FHA loan in good standing and the refinance must lower your monthly interest payments. This type of refinancing option reduces your monthly expenses by lowering your payments but there is no option to receive cash back. This works well for people who are in good financial standing with no significant debt because it allows you a little extra money each month that can be put to good use elsewhere
Hello my name is Ronell D. Moore! I would like to thank President George Bush. I'm thankful to our current leader for several reasons. One being the housing market seven years ago. Remember when we would take a person from a 13% interest rate to a 6% interest rate? Life was great and loans where plentiful. Second for the chastisement of greed. By nature we consume more than we need. Just look at your surrounding. A combination of efficient and greed created the sub-prime market. What went wrong, was the salesperson who sold the first client was consumed by greed. He delivered it with profit in mind. The third reason I would like to thank our current President of the United States of America, is "reproof without doubt". America I tell ya, had it not been for George bush mistakes. We all would had had to endure another 4 years of strife. From one fellow salesman/woman to another, trust in God. We should/shall deny ourselves of selfishness and encourage the glorification of the customers. I remember listing to a motivational speak. The motivational speaker was elaborating on the salesman and his efforts. However he neglected to mention the coustomer.Because it does not matter if your the greatest salesman. Without the customer we just talking to ourselves. But with the customer's interest in mind, Yes We Can.
Hello fellow active rainers. First of all I would like to thank those who have signed on as a suscriber. Sencond I would like to appoligize for my time off from bloging. However I have been selling one of,the greastest products in the industry. This Next day install company has truly made a beliver out of me. For all your flooring and window treatment needs. Please call me at 615-516-3522, leave a message if needed or email me at info@fhacloser.com. Let me know your a fellow activerainer and I will give you a discount on products.
Some of our specials include, but are not limited too:
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Carpet Installed for as low as $17 a yard.
Guaranteed Installation for the Holidays. Conditions Apply.
If you ever applied for a loan and you were turned down then you know how important a positive credit score could be. So many companies are opening there doors to offer credit repair and most of the time for outrageous fee's. Just think about it for a minute, if they had the money to pay of everything or pay on time then they would not need credit repair. I think that most companies forget that they are offering a service. You are charging your client for the due diligences that-you perform. Not just because they have some issues with there credit. Most of the information you are using they can get free by searching the Internet. Where you come in at is you have the time and patience to follow up on all unresolved issues. I'm not saying you should not be paid for your work. Yet I am saying you should not be paid for your service, I'm saying you should be paid only for results. You see in the real estate industry we as professionals are compensated for our due diligences after we have performed. We are not paid if we have a client sign a contract with us to find a home and never find them one. We are not paid if we seek funding for a property and never get an approval. So I think that your clients should be allowed the same treatment. Consumers don't be taken by these fly by night companies, seek help from a true professional or do it your self. Below I have attached several different types of letter you can use to dispute your credit. Realtors and other Mortgage professionals you can copy and paste these letters for your clients. www.RonellMortgage.com
Sample Letter 1
Your Name
123 Your Street Address
Your City, ST 01234
The Credit Bureau
Bureau Address
Anytown, State 56789
Date
Dear Credit Bureau,
This letter is a formal complaint that you are reporting inaccurate credit information.
I am very distressed that you have included the below information in my credit profile due to its damaging effects on my good credit standing. As you are no doubt aware, credit reporting laws ensure that bureaus report only accurate credit information. No doubt the inclusion of this inaccurate information is a mistake on either your or the reporting creditor's part. Because of the mistakes on my credit report, I have been wrongfully denied credit recently for a <insert credit type for which you were denied here>, which was highly embarrassing and has negatively impacted my lifestyle.
optional With the proof I'm attaching to this letter, I'm sure you'll agree it needs to be removed ASAP.
The following information therefore needs to be verified and deleted from the report as soon as possible:
CREDITOR AGENCY, acct. 123-34567-ABC
Please delete the above information as quickly as possible.
Sincerely,
your signature
Your Name
SSN# 123-45-6789
Attachment included.
Don't forget to provide proof if you have it!
Follow up letter to initial credit bureau contact.
Your Name
123 Your Street Address
Your City, ST 01234
Credit Bureau
Credit Bureau Address
Some City, Any State 56789
Date:
RE: Dispute Letter of Date you sent in first or subsequent requests
Dear Credit Bureau,
This letter is formal notice that you have failed to respond to my dispute letter of date. I sent this letter registered mail and have enclosed a copy of the return receipt which you signed on some date.
As you are well aware, federal law requires you to respond within 30 days. It has now been over that period since your receipt of my letter. As you are no doubt aware, failure to comply with federal regulations by credit reporting agencies are in serious violation of the Fair Credit Reporting Act and may be investigated by the FTC. Obviously, I am maintaining detailed records of all my correspondence with you.
I am aware that you may have misplaced my letters or have failed to respond to my letter because of an oversight due to the high volume of the requests you receive daily. If this is the case, I'm sure you'll want to handle this matter as soon as possible. For this purpose, I have included a copy of my original request, the dated receipt of your reception of the original letter and a copy of the proof verifying the incorrectness of the credit item you have mistakenly placed on my records.
The following information therefore needs to be verified and deleted from the report as soon as possible:
CREDITOR AGENCY, acct. 123-34567-ABC
Please delete this erroneous item from my credit report as soon as possible.
Sincerely,
your signature
Your Name
SSN# 123-45-6789
Don't forget to provide copies of your original letter and documentation!
Sample letter 4 - Removing inquiries
Re: Unauthorized Credit Inquiry
Dear American Express,
I recently received a copy of my Experian credit report. The credit
report showed a credit inquiry by your company that I do not recall
authorizing. I understand that you shouldn't be allowed to put an
inquiry on my file unless I have authorized it. Please have this
inquiry removed from my credit file because it is making it very
difficult for me to acquire credit.
I have sent this letter certified mail because I need your prompt
response to this issue. Please be so kind as to forward me
documentation that you have had the unauthorized inquiry removed.
If you find that I am remiss, and you did have my authorization to
inquire into my credit report, then please send me proof of this.
Thanking you in advance,
Jane Caveat-Debtor
Sample letter 6 - Reduction of Debt
AGREEMENT TO COMPROMISE DEBT
Max Creditor, referred to as CREDITOR and Jane Doe, referred to as DEBTOR, agree to compromise the indebtedness as between them. CREDITOR, hereby agrees to compromise the indebtedness due the CREDITOR on the following terms and conditions:
The CREDITOR and the DEBTOR agree that the present debt due is $1436.18 (one thousand four hundred thirty six & 18/100 dollars). The parties agree that the CREDITOR shall accept the sum of $1000.00 (one thousand & no/100 dollars) as full payment on the debt. The acceptance of the payment will serve as a complete discharge of all monies due. The payment shall be made in cash.
In addition, upon accepting of the $1000, the CREDITOR will notify all Credit Reporting Agencies that account is PAID AS AGREED, and delete any entries showing this account as ever being late.
This compromise is expressly conditioned upon the payment being received by January 15, 2000. If the DEBTOR fails to pay the compromised amount by January 15, 2000, the original amount owed by the DEBTOR will be reinstated in full, and immediately due.
This Agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns.
Dated: _______________
Signature: ____________
Max Creditor
CREDITOR
Signature: ____________
Jane Doe
Debtor
Sample Letter 7 - Cease and Desist
CEASE and DESIST COLLECTION EFFORTS
Cheatem Collections
123 Fagetaboutit Ave
Chicago, IL
17 April 2000
RE: Account 5145454156
Dear Sir or Madam:
I request that you CEASE and DESIST in your efforts to collect on the above referenced account (SEE letter attached). It is my personal policy not to deal with collection agencies and I will only deal with the original creditor of this account.
You are hereby instructed to cease collection efforts immediately or face legal sanctions under applicable Federal and State law.
GIVE THIS LETTER THE IMMEDIATE ATTENTION IT DESERVES.
Cordially
Scott Free
Sample Leter 8 - Goodwill Letter
Date
Company name
Address
Re: Acct # XXXX-XXXX-XXXX-XXXX
Dear CEO name,
I am writing to you today regarding my credit card account #4236-XXXX-XXXX-XXXX which I had while I was a medical student at ------------------------------------. The purpose of my correspondence is to see if you would be willing to make a "goodwill" adjustment on the reporting of this account to the three credit agencies.
During the time period this account was established I had was very happy with the service, I was however not the ideal customer and made mistakes with my handling of the account. I should have kept better records regarding the account and I take full responsibility. I became aware of the unpaid balance when I got a copy of my credit report in June of 2006.
I know that payment was my responsibility and I am not attempting to justify this breach of my user agreement, I was however hoping you might review the circumstances under which this non-payment occurred and consider removing the negative trade line associated with this account from my three credit reports.
As soon as I became aware of the balance I contacted ----------------- and paid the balance in full. I provide this not to justify why the account was unpaid, but rather to show that the issue with ----------- is not a good indicator of my actual credit worthiness. I hope that ---------------- is willing to work with me on erasing this mark from my credit reports.
I would like to STRESS that the information currently being reported IS accurate, (I am not disputing anything with ---------------). I am simply asking -------------for a courtesy gesture of goodwill in having the credit bureaus remove this account from my report. I do recognize that this request is unique and that it may not be ------------- normal policy. Please consider that the Fair Credit Reporting Act does not demand that all accounts be reported, only that any account that is reported be reported accurately. Therefore, a company does have legal discretion and permission to remove any account it chooses from the credit report. I'm hoping that ------------- will do that in my case for this account.
Your kind consideration in this matter is greatly appreciated.
Best Regards
Name
123 Your Street Address
Your City, ST 01234
Sample letter 9 - Attempt to Validate Debt
Attempt to Validate Debt.
Under the Federal Debt Collection Practices Act, you are allowed to challenge the validity of a debt that a collection agency states you owe to them. Use this letter and the following form to make the agency verify that the debt is actually yours and owed by you. Keep a copy for your files and send the letter registered mail.
Your Name
123 Your Street Address
Your City, ST 01234
ABC Collections
123 NotOnYourLife Ave
Chicago, IL
Date:
Re: Acct # XXXX-XXXX-XXXX-XXXX
To Whom It May Concern:
This letter is being sent to you in response to a notice sent to me on September 30, 2002). Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.
This is NOT a request for "verification" or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.
Please provide me with the following:
At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureau's (Equifax, Experian or TransUnion) this action might constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following:
If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist.
Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes any listing any information to a credit reporting repository that could be inaccurate or invalidated or verifying an account as accurate when in fact there is no provided proof that it is.
If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.
I would also like to request, in writing, that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.
It would be advisable that you assure that your records are in order before I am forced to take legal action. This is an attempt to correct your records, any information obtained shall be used for that purpose.
Best Regards,
Your Signature
Your Name
Sample letter 15 - The Letter to Send to the Credit Bureaus After the Collection Agency Fails to Validate Your Debt
Company
Address 1
Address 2
City, State Zip
Date
RE: Account XXXXX-XXXX-XXXXX
Dear Sir/Madam:
I am continually being called on the telephone by your firm over an alleged $9000 debt. I'm sure you are aware of the provisions in the Fair Debt Collection Practices Act (FDCPA), and I am requesting validation of this debt. I am requesting proof that I am indeed the party you are asking to pay this debt, and there is some contractual obligation which is binding on me to pay this debt. I request that you stop contacting us on the telephone and restrict your contact with us to writing, and only when you can provide adequate validation of this alleged debt. To refresh your memory on what constitutes legal validation, I am giving a list of the required documentation:
I'm sure you know, under FDCPA Section 809 (b), you are not allowed to pursue collection activity until the debt is validated. You should be made aware that in TWYLA BOATLEY, Plaintiff, vs. DIEM CORPORATION, No. CIV 03-0762 UNITED STATES DISTRICT COURT FOR THE DISTRICT OF ARIZONA, 2004, the courts ruled that reporting a collection account indeed is considered collection activity.
While I prefer not to litigate, I will use the courts as needed to enforce my rights under the FDCPA.
I look forward to an uneventful resolution of this matter.
Sincerely,
Signature
Your Name
Your Address
City, State Zip
enclosures
Sample letter 16 - Motion to Vacate
The following is a sample motion to vacate a judgment. Before using it, make sure you read our information here.
Sample Motion to Vacate
IN THE SUPERIOR COURT OF THE STATE OF [YOUR STATE] [The Original Plaintiff] Plaintiff, MOTION AND DECLARATION TO VACATE JUDGMENT NOW COMES the Plaintiff, Pro Se and prays this Honorable Court to Deny the Defendant's Motion to Dismiss and Motion for Sanction for the following reasons: 1. Relief requested. The defendant(s) move(s) the court for an order vacating the judgment entered in this action and staying enforcement of the writ of restitution until the motion can be heard. 2. Statement of facts and issues. This motion is based on the following grounds: (Enter your reasons: you weren't properly served, the judgment was entered even though you filed the right paperwork) Dated: . ______________________________ Defendant(s) Name (Print) Address Telephone Number DECLARATION I, [my name], declare as follows: I certify under penalty of perjury under the laws of the state of YOUR STATE that the foregoing statement is true. Signed in [CITY], [STATE] on [DATE]. __________________________________ Signature Print or Type Name |
These letters are free from the web. Just an example of what you can do yourself. For those of us who don't have the time to type letters and keep up with all the paperwork seek professional HELP. I'm sure they would be glad to help you, just let them know what you now know.
I found an affordable credit restoration company on active rain, her phone number is 215-350-2483.
Ronell D. Moore
I am a Commercial Mortgage Broker providing funding for all commercial property types. I still write residential mortgages. Providing all loan types including FHA, VA, and Conventional Loans.
We Fund deals we say we can close. All Commercial deals will be reviewed.
Residential Loans, with several different programs. Including but not limited to FHA, VA, Home Possible, Conventional, Home Equity Lines of Credit, Investment Properties, etc.
We specialize in: Apartment/Multifamily Units, Automobile Dealerships, Car Wash, Casino, Church & Religious Financing, Day Care Centers, Health Care Facilities, Hotels/Motels, Industries Buildings & Parks, Manufacturing Facilities, Malls, Medical Buildings, Mixed Use Properties, Movie Theatres, Owner Occupied Buildings, Office Buildings, Raw Land, Retail Shopping Centers, Truck Stops, Shopping Centers, Strip Centers, Storage buildings, Warehouses, and much more...... Purchase, Refinance, Cash Out, we can Close in as little as 5 days!!
Commercial Property & Loan Types
615-424-7598
To Whom It May Concern:
I am writing this letter on behalf of Ronell Moore. Mr. Moore recently managed a refinancing for me. I was very impressed by Mr. Moore's professionalism. When I could not get to him he came to me, which was a lifesaver in itself. He was also very thorough in his explainations and up front about where I stood and what program would be best for my situation. What touched me the most was that he would not settle for anything. He put great effort into getting the best rate and terms for me. This was the first time I actually felt good about signing at closing. I can truly say I am very happy with this loan. I am very satisfied with Mr. Moore's talents and efforts. His knowledge and skill has aided in lifting a tremendous weight off my shoulders. I will refer him to everyone I know and use him myself in the future as well.
Sincerely, Dawn Wallace
Mr Moore refinances my gas station when everybody else told me no. Thanks TM Holdings Group. John Kawinzi
Your turn time is great, and you reall came thru. I could not have opened my barbershop, or resturant with out you. Andre
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