Thursday, April 29, 2010

Loan Modification Scams

Loan Modification is a word that is thrown around quite liberally these days. In essence, a loan modification is a changing of the original terms of a mortgage note that; may or may not be permanent, may or may not negatively impact your credit, and that may or may not directly reduce the principle amount due on the note.
Everyone should be very wary of companies in the market place looking to "scam" current home owner's who are desperate to keep their home. You should look at the following website, which FHA, HUD, FANNIE MAE and FREDDIE MAC all support: .
Most loan modifications can be done by the consumer themselves, if they just have patience. It is a long, arduous process, but in the long run can be very beneficial for the homeowner.
HUD has Loan Counselors to help answer questions you may have and talking to your current mortgage holder is always good idea.

Monday, April 26, 2010

Things are a Changing!

Ability Mortgage has undergone some major changes in the last few weeks. The most important change is that we are now a direct lender. We have made this change to be more competitive for our clients. In the ever changing environment that mortgages are in, new laws make it harder and harder to close a file in a timely manner. This is just one step we have taken to keep ourselves competitive.
We are very excited about the change and even though we are learning a new system, we can already see the difference it is making for our clients. Feel free to give me a call or shoot me an email if you have any questions about our newest endeavor.

Also remember: to qualify for the $8k tax credit you must me in contract by Friday April 30, 2010.