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Michelle Burgos, CDPE~Short Sale Expert Pembroke Pines,Miramar,Davie,Hollywood

Do I Qualify For The New Obama Loan Modification / Refinance Program?

There are a lot of questions and confusion regarding the Obama administration's announcement of its latest plan to help troubled homeowners, enabling an estimated 3.5 million underwater mortgage holders to refinance at today’s historically-low interest rates.

There are many hopeful homeowers that are delaying the recovery process in hopes of qualifying for the program. Lets take a moment to review the qualifications of the plan...

Under the current proposal, to be eligible borrowers must:

Have not missed a mortgage payment in the past six months, and have no more than one late payment in the six months prior;
Have a credit score of 580 or higher;
Have a current mortgage balance within loan limits for FHA-insured loans in their communities; and
The property must be their primary residence

it’s important to remember that this program would require Congressional approval, which may never happen.

If you or someone you know is on the edge, if you are facing foreclosure and need immediate help, don’t let the media talk of this proposal distract you from finding a real solution. Time is of the essence.

Whitney's Last Words to Her Family and Friends... Don't Cry For Me [Video]

Whitney Sings - Don't Cry For Me... A song of her departure as if these were her final words to her family and fans. Beautiful video!!!

U.S. Treasury Just Announced Triple Incentives To Servicers For Principal Reduction Loan Modifications

BREAKING NEWS: The U.S. Treasury just announced major changes to the Home Affordable Modification Program [HAMP] that may help many homeowners KEEP their homes and receive a PRINCIPAL REDUCTION. Fannie Mae and Freddie Mac loans and INVESTOR OWNED HOMES can also benefit from these incentives.

Listen in as Alex Charfen, CEO of the Certified Distressed Institute [CDPE] as he explains the major changes that can affect you and those you care for.

If you or anyone you know is interested in learning more about this program please contact me immediately, we have a task force of over 30,000 CDPE's [globally] standing by to help.

Unmanageable Mortgages Continue to Cloud Family Finances and Real Estate Recovery [Press Release]

Burgos has developed a free report entitled, “Are You Living Under the Cloud of an Unmanageable Mortgage?” that is accessible from her website, www.FLAvoidForeclosure.com

The report provides an overview of qualification criteria for the most common foreclosure alternatives, cites red flags for scams, and reminds homeowners why avoiding foreclosure needs to be a top priority.Burgos Press Release [Feb 12]

Homeowner Bill of Rights & New Programs to Help Homeowners in Distress May Be On Their Way

In the President's State of the Union proposal Obama announced he will be sending Congress a "Homeowners Bill of Rights" to make the mortgage and refinancing process simpler.

The Secretary of The Department of Housing and Urban Development, Shaun Donovan spoke in a Press Briefing to explain the details of the "We Can't Wait Efforts" that Fannie Mae, Freddie Mac and HUD are putting into place to Help Homeowners.

Some of the topics addressed in the briefing were:

  1. "Smart Cost Effective Plan" that will help "Responsible" homeowners refinance their current mortgages that will result in a decrease in monthly mortgage payments of up to $3,000 a year
  2. "Homeowner Bill of Rights" that will alleviate the red tape, run around from the banks and a simplified transparent plan that will make the refinancing process a lot simpler
  3. The steps that Fannie Mae, Freddie Mac and HUD are taking to stabilize the hardest hit areas to stabilize the market by turning REO [bank owed properties] into rentals
  4. What the Feds are doing to ensure that Second Lien Holders and Mortgage Companies do not sabotage the recovery process
  5. Task Force that includes Federal Enforcement Agencies, State Attorney Generals, Local Agencies, and Private Investors that are working together to coordinate solutions for homeowners and communities that have been harmed, and to turn the page to lift the cloud of uncertainty and move forward to recovery
  6. There will be a fees and penalties charged to banks to repair the damages made as restitution to homeowners that were harmed
  7. A unified streamline one page mortgage application that will simplify the mortgage application process

Remember, this new program they are discussing is specifically for homeowners that are current on their mortgage payments. The vast majority of homeowners in distress are NOT current on their mortgage. Although this program may not be the right solution for all, there are other programs available that may offer positive results.

Do you anyone that owes more on their mortgage than it is currently worth and does not know what to do? Please feel free to contact us for a FREE NO OBLIGATION CONSULTATION. There are solutions and we are here to HELP.