The program not to lose your house was sent day 4 of March and it is a program of 75 trillions of dollars to help the people who estan fighting to stay afloat with the payments of their mortgages.
The program will be available for those people who have their hypothecating loan by means of Freddie Mac or Fannie Mae. But you deceptions so soon then although you do not create Freddie Mac and Fannie Mae is owners of more or less half of the hypothecating loans of the country. Surely not even you know if Fannie Mae or Freddie Mac is the owners of your mortgage.
In order to know if your mortgage is of some of these two banks you can call them or consult its page Web. Here the numbers and the connections for the pages estan.
1-800-7FANNIE (8am-8pm EST)
1-800-FREDDIE (8am-8pm EST)
One thinks that 7 to 9 million people will benefit from this one program that will be available until the 2012 for mortgages that were signed before the 1 of January of 2009.
The program will permitará that it enters 4 or 5 million people can refinance his houses to the present interest rate or those people who at the moment have a variable interest rate they will be able to refinance to a fixed interest rate.
3 or 4 million people at the risk of hypothecating execution will be able to avoid reducing it their monthly payments.
Some of the requirements will be:
- The house must be your main residence
- Your present debt will have to be smaller to $729,750
- You must of being able to demonstrate that you have financial difficulties
- You will have to present/display your last declaration of taxes
If you fulfill the requirements it can be that you describe and the best thing will be than you begin to join the following documentation:
- Information on your monthly entrance, including documentation like the elbows of your checks or any other income
- Your last declaration of taxes
- Information on your goods
- Information on any other loan that you have on the house
- Minimum balance and payments that you must on all credit cards
- Balance on other loans, like of student vehicles, loans
- A letter detailing the circumstancias of a reduction of your income (like for example by disease, loss of work, divorce, etc.
To this you will have to present/display it documentation to the financial institution that gave the loan nevertheless you you must have patience since the documentation for the program as soon as it was presented/displayed to the banks 4 of March and they is working to put all it in sequence details each loan and to see which will be the mortgages that will caliificarán.
If you have some question on this one article you do not stop leaving your commentaries.
By the way, much taken care of with the fraud of programs of aid for the hypothecating execution. Recueerda that exists many inescrupulosas people whom they solely look for to take advantage your situation.
