Obama's Mortgage Assistance Program - How to Get the Government to Help You With Mortgage Refinance [mortgagerates-tips.blogspot.com]
Two specific types of mortgage insurance include PMI, or private mortgage insurance, and the government-backed MI. Find out why MI costs a half to a third of what private mortgage insurance can cost with help from a financial specialist in this free video on mortgage assistance and personal finance. Expert: Matthew McKillen Contact: www.innovativefg.com Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients. Filmmaker: Christopher Rokosz
mortgagerates-tips.blogspot.com Mortgage Assistance : Types of Mortgage Insurance
Obama's mortgage assistance program was recently passed to help consumers that are struggling to pay their monthly mortgage payments. The program provides homeowners who are currently experiencing economic hardship the ability to refinance into a better rate mortgage. The best part of it is that you can actually get government subsidies that will pay your mortgage refinance expenses. These government subsidies and incentives along with record low interest rates make this the best time in history to refinance your home. This article will teach consumers how to get the government to help pay for your mortgage and refinance your home to a low fixed rate at the same time.
The eligibility requirements for Obama's mortgage assistance program are not that strict. To qualify for government subsidies all homeowners must prove is that they are experiencing economic hardship and are having trouble paying their monthly mortgage payments.
After you fill out an online application the government will review it and if you qualify they will pay a majority of your costs to refinance all the way up to $ 5,000. The funds will be sent directly to your mortgage lending company of choice and you then will have much more flexibility on getting a mortgage refinance.Obama's mortgage assistance program is a multi-billion dollar program and therefore there are plenty of funds to go around however it will not be around forever. It is definitely worth your time to see if you qualify for the program. A mortgage loan professional will help you further identify other benefits of refinancing your home by analyzing your existing mortgage and giving you a cost/benefit analysis on whether refinancing is a good idea for you.
The great part about Obama's mortgage assistance program is that, if you qualify, the cost to you could be zero.You will definitely want to talk to a few mortgage loan professionals before you refinance your home. The most efficient way to do this is by utilizing an online multiple lender site. You only have to fill out one online application and then you are paired with 3-4 lenders in your area who were able to offer the most competitive rates. After talking with a few professionals it is then your decision to go with the one who was able to offer the best deal and seemed most knowledgeable about the industry. All of this is free and you should never have to pay a fee for their services until you decide to go ahead and refinance your home.
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