Exeter Commercial Is Announcing The Formation Of Our Mortgage Modification and FHA Lending Groups
The Mortgage Modification Group will work with borrowers of both residential and commercial mortgage loans who have fallen behind, or who are about to fall behind on their payments due to an unforeseen hardship. This can include an ARM rate adjustment, illness, loss of job, failure of a business etc. The FHA Group will work with borrowers that are seeking to purchase a home and who may not qualify under the now strict underwriting standards of many lenders.
Jericho, NY (PRWEB) October 28, 2008 -- Exeter Commercial LLC would like to announce the creation of its' Mortgage Modifications Group, formed to work with property owners that are behind, or that may soon fall behind on their mortgage payments due to a hardship that has occurred to them or a family member. This can include such things as an ARM rate adjustment, loss of job, death in the family, illness, failed business etc.
Our clients will work directly with attorneys that have the experience to create the most effective personal portfolio to present to the lender, a track record of dealing with the critical decision makers at these lenders, knowledge of the quickly changing laws in all 50 states as well as the expertise to negotiate the very best possible deal.
 If You Are Late On Your Mortgage Payments Or About To Face A Foreclosure Action: You Do Have Options.  |
This group is being headed by Michael Haltman, President of Exeter Commercial LLC.
The FHA Lending Group was formed to work with borrowers that would like to buy a home, and in some cases refinance a home, but who may not possess the financial background that would allow them to qualify under the now strict underwriting guidelines of lenders. The financial profile required for the borrowers under the FHA loan programs are much more flexible than for conventional lenders.
The FHA Lending Group is going to be headed by Linda Haltman, President of Exeter Holding Ltd.
Exeter Commercial LLC is a commercial mortgage lender, commercial mortgage broker and commercial mortgage trainer located in Jericho, New York. It is also involved in the business of mortgage modifications and FHA lending. The firm operates under the slogan of "We do the impossible."
Exeter Holding Ltd. is a mortgage banker involved in the funding of residential construction loans in New York, New Jersey, Pennsylvania and Connecticut
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Mike Haltman
Do Not Give Up On The Dream Of Owning A Home!!!
We all know the stories about banks not lending and if they do, about only the most pristine buyers qualifying.
There Is Still A Way: Through FHA or Federal Housing Authority loans. These loans are made by a bank but insured by the FHA with terms that are much more affordable and with much lower minimum credit score requirements.
Consider:
The FHA is fairly lenient with credit (even below FICO 600), though requirements may vary by state. You can apply even if you have no credit history if you can prove that you have met past financial obligations.
Loan amount limitations vary state by state, but those limits have recently been raised.
Down payment requirements can be less that 5% of the purchase price.
When your bank says no, FHA may say yes.
Michael Haltman, President
Exeter Commercial LLC
FHA Lending Group
131 Jericho Turnpike, Suite 202
Jericho, New York 11753
516.338.7503(O)
516.741.6838 (F)
haltman@easycommercial.com
Visit Our Blog:
http://commercialmortgagehotline.blogspot.com
What Market Am I Talking About?
The answer to that question is really that it is the readers choice to decide. Whether we are talking about housing, mortgages, commodities, stocks, bonds, currencies or commercial real estate, we are at what can only be called an extremely elevated state of flux and angst in all of them.
Some good news came out of the the housing sector on Friday with a greater than expected number for existing home sales from September. While good news, the reality is that the housing sector remains stalled and borrowers that want to borrow had better have stellar credit, strong income and plenty of money to put down.
The Ted Spread, after showing signs of improvement most of the week went into a stall as LIBOR remained pretty much unchanged and there was a renewed flight to quality in T-bills.
Volatility measured by the VIX reached new record highs. This measure of fear and anxiety which has normally ranged between 15 and 25 hit a record close to 90 before settling at 79.13.
So What Is The Answer?
The bottom line is that there are an incredible amount of cross currents and events that are going to play key roles. At this point many remain unknown as to how they are going to play out, which makes making bold predictions extremely difficult at best, and insane at the worst.
Who is going to win the presidential election in the United States, as this will play a role in how we move forward? How well and successfully will the bailout plan be implemented, and what new developments will crop up (such as the plan to include some insurance companies under the TARP)? How long and how deep will the recession be in the United States, Europe, Japan and the developing countries? Will there be any extraneous events that will create even more world turmoil? Can the governments around the world continue to cooperate with each other in the implementation of fixes designed to mitigate the problems.
Can we avoid the political finger pointing and search for the "cause" of this problem, accept the fact that politicians on both sides of the aisle are complicit and move forward in a bi-partisan way to really look for solutions that benefit the people that put them in office in the first place?
These plus any others that anyone can think of. I certainly hope so. Fed meeting this week, with no reason for them not cutting rates at least 25 b.p.
An Admission Of Economic Angst From A Surprising Source
The sports industry, normally only interested in squeezing every last nickel out of the people that attend the games (which with current prices tends to be the corporate suits), has begun to put a freeze on ticket prices in many markets, and some are offering packages designed to make a game affordable to the typical family of four that is quickly getting priced out.
Score one for the true "fans" (at least in some markets).
What You Missed This Week
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The Commentator is written by me for the purpose of addressing key topics in the financial markets, mortgage and housing markets and in the political arena that affect or potentially affect us all.
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Don't Give Up On The American Dream Of Owning A Home
Michael Haltman, President
Commercial Capital Alliance/Exeter Commercial LLC
Commercial mortgage trainers since 1990
131 Jericho Turnpike, Suite 202
Jericho, New York 11753
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