Recently in Subprime Loan Plan Category
The US Government is doing everything they can to help homeowners who are in trouble or about to be in trouble regarding their mortgages. Rates are falling quickly because the Fed is pumping money into the system and offering to protect the lenders.
If you are in trouble or about to be in trouble, you should not be timid about asking for help. Your mortgage servicer (lender) is ready to use government money available to them in order to help you.
But you have to "do" something: Reach Out to Your Lender !
Yes, God Feeds the Birds But Doesn't Toss Worms Into the Nest for Them ...the birds have to do something.
If you get help on your mortgage, what happens if you lose your job and become unemployed? A lower payment would be great, but can you make that lower payment if you lose your job?
Paycheck Guardian is a job loss unemployment benefit plan that will pay you cash if you become unemployed or accidentally disabled. Up to $1500 per month is available.
Contact Us: 800.562.8019 Email: John Hartline
If you are in trouble or about to be in trouble, you should not be timid about asking for help. Your mortgage servicer (lender) is ready to use government money available to them in order to help you.
But you have to "do" something: Reach Out to Your Lender !
Yes, God Feeds the Birds But Doesn't Toss Worms Into the Nest for Them ...the birds have to do something.
If you get help on your mortgage, what happens if you lose your job and become unemployed? A lower payment would be great, but can you make that lower payment if you lose your job?
Paycheck Guardian is a job loss unemployment benefit plan that will pay you cash if you become unemployed or accidentally disabled. Up to $1500 per month is available.
Contact Us: 800.562.8019 Email: John Hartline
The government is working almost round-the-clock with major mortgage lenders to put in place a plan that would "freeze" interest rates on millions of ARM mortgages which are set to cause large mortgage payment increases in early 2008. One 'sticking point' seems to remain: how long the freeze will last..3, 4, or 5 years. The mortgage servicing companies, major lenders, and the bond investors would rather have a lower yield on their investment than massive foreclosures. Was it Mark Twain who said "I'm more concerned with Return of My Investment than Return On Investment"?
Many are arguing that that the borrowers are at fault here and were fiscally irresponsible by entering into a mortgage contract, knowing their payments would increase; many argue that it was predatory lending; many say the home builders were at fault for this mess. I think there's enough blame to go around to everyone. I spent about 15 years in an industry which sold to auto dealers...to their finance departments. I know when the auto lenders were aggressively seeking new business, they would relax their credit standards from time to time. The dealers loved it when the lenders did this: People will buy more of anything if they can get it on favorable credit terms.
I think this proposed Subprime Loan Plan will help mitigate problems...but I also think that the borrowers who are given this "gift"...this "reprieve"...should now show some fiscal responsibility by investigating purchasing inexpensive mortgage unemployment insurance. Our new plan, the Mortgage Safety Plan, pays cash benefits to insureds when they are unemployed or disabled.
If borrowers are having budgetary problems now, living paycheck-to-paycheck, they would certainly be financially disabled if they lost their job. Who would make the mortgage payment...even if it is 'frozen' at current amounts? This proposed plan would help but it might not help enough to offset the predicted overall economic slowdown. If the slowdown comes to pass, unemployment rates will go up.
An ounce of prevention is worth a pound of cure. Mortgage Safety Plan is designed to lend a helping hand when bad things happen to good people. 'Lose Your Job...Keep Your Home'
John Hartline
800-562-8019
www.mortgagesafetyplan.com
Many are arguing that that the borrowers are at fault here and were fiscally irresponsible by entering into a mortgage contract, knowing their payments would increase; many argue that it was predatory lending; many say the home builders were at fault for this mess. I think there's enough blame to go around to everyone. I spent about 15 years in an industry which sold to auto dealers...to their finance departments. I know when the auto lenders were aggressively seeking new business, they would relax their credit standards from time to time. The dealers loved it when the lenders did this: People will buy more of anything if they can get it on favorable credit terms.
I think this proposed Subprime Loan Plan will help mitigate problems...but I also think that the borrowers who are given this "gift"...this "reprieve"...should now show some fiscal responsibility by investigating purchasing inexpensive mortgage unemployment insurance. Our new plan, the Mortgage Safety Plan, pays cash benefits to insureds when they are unemployed or disabled.
If borrowers are having budgetary problems now, living paycheck-to-paycheck, they would certainly be financially disabled if they lost their job. Who would make the mortgage payment...even if it is 'frozen' at current amounts? This proposed plan would help but it might not help enough to offset the predicted overall economic slowdown. If the slowdown comes to pass, unemployment rates will go up.
An ounce of prevention is worth a pound of cure. Mortgage Safety Plan is designed to lend a helping hand when bad things happen to good people. 'Lose Your Job...Keep Your Home'
John Hartline
800-562-8019
www.mortgagesafetyplan.com
