Well yes it's good news for those who are in an adjustable rate
mortgage. This was brought
up to my attention in the end of January. Something that I have seen
help many people get a
loan modification with some investors out there. This loan
modification process is simple
and very effective.
This is how you qualify.
1st: Do you currently have a Fannie Mae mortgage (must be 1st TD).
2nd: Have you been making your mortgage payments on time for the last
12 months?
3rd: Do you have a 620 FICO score or above?
Guess What? You now qualify to receive a fast streamline loan
modification through your
current lender. You are probably wondering that this is to easy, and
your right. And here
is the best things about this process.
Since you are currently a Fannie Mae mortgage holder. You don't need
to go through a long
process to get some help.
You don't need to show any INCOME DO***ENTATION. As long as you have a
job you are good to
go.
Well you might ask a question. "What if I am upside down on my
mortgage?"
If there wasn't already a lot of good news 60% of these loan MODS do
not require for you to
have an appraisal done on your property.
WOW... this is what every investor should be doing. And from my
knowledge most of them are
going to start offering this wonderful streamline process to maintain
their client=E8le and to
avoid ending up with all those R.E.O.'s.
Hopefully this will help many of you. This is not an attempt to obtain
any business I am
simply trying to educate you with what some of the investors are
trying to do.
Yancy Martin
Real Estate Finance
www.yancymartin.com
