Freedmont Mortgage CEO Carl Delmont explains the good and bad of today’s mortgage climate, including what it means when you’re upside-down on your home investment

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I read an article on Yahoo! today about underwater mortgages — the situation you’re in when you owe more on your house than it’s worth. I don’t get why this leads to foreclosure. If you can afford to keep on paying your note every month, what difference does it make how much your home is actually worth? Isn’t this the exact situation that everyone with a car loan is in? Your car is a depreciating asset — but nobody "calls in" your car loan just because it’s worth less than the day you bought it.

It also depends on how much deprecation takes place. In some states house values have dropped hundreds of thousands of dollars. The values were inflated way more than they should have been. It was like musical chairs and some of the flippers got caught holding the loans. Then you add to that the trouble in the sub-prime group who were hoping that adjustable rates wouldn’t go up until their income increased over time. Then they could at least afford their costly homes. It didn’t happen. I can see why they walked away. Think about it. How do you sell the house at current market value? Also, if you continue to make payments your amortization is based on an inflated value. Stupid loaners in that case.

http://keepmyhouse.us/

Are you “underwater”, behind in mortgage payments or afraid of losing your home? You are not alone!
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Eliminate changing schools & uprooting children

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It Takes only 15-20 mins to save your home from foreclosure. We believe people and not banks should own homes.
http://keepmyhouse.us/

Duration : 0:14:21

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Reducing home owners principle would immediately stimulate the economy more than waiting for banks to decide what to do with the 7 billion or more that they were given in bail out money.
Guidelines: The home must be the owners primary residence. Only 1 home per family. The home was purchased between 8 and 2.5 years ago since 8 years ago is approximately the time period that reflects a homes value today.
Why should banks be required to lower the principle value of a home? Because it was their investment practices in mortgage default swaps and the easing of guidelines to borrowers that caused inflated home values. Banks were giving loans to anyone who could sign a mortgage contract whether they had a steady job or not. That practice drove the demand for housing and the price of housing soared. It was the investment practices of banks that caused the housing bubble not the home buyer.
Can we provide some security for home owners?
We need people in their homes not in foreclosure.

Nice dream. But what do you think the government is more concerned with: ensuring consumers get to keep their homes, –or– ensuring banks turn a profit. If you guessed consumers, then all hope is lost for you.

http://www.amerifirst.com/

Will President Obama’s refinancing plan work for America and the U.S. housing market? From HARP to HARP 2.0 (a.k.a. HARP Round 2) to HAMP, Find out what’s going on with underwater borrowers and refinancing at lower interest rates. This episode of Mortgage Minute TV features AmeriFirst Home Mortgage President & Co-founder Mark A. Jones talking about Refinancing America 2012.

http://blog.amerifirst.com/amerifirst-blog/

Duration : 0:7:56

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Technorati Tags: Barack Obama, Hamp, HARP Obama, HARP round 2 Obama, refinancing, refinancing America 2012, underwater mortgage help, underwater mortgages

Homeowners can now reduce their monthly payments and stay in their homes. Here’s how…

It’s a simple two-step process:

1. Sell your house for what you owe, then lease it back with a monthly payment typically 40% to 60% lower than your current mortgage payment!

2. After the lease ends, you can purchase the home at 90% of the current value, with owner financing!

The residential SLB program works for mortgages from $200,000 to $10,000,000. Some restrictions may apply.

Duration : 0:0:47

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Technorati Tags: foreclosure, funding, Home, house, mortgage, OneTrueMedia, OWN, partners, real, realty, rent, sale, smart, to, under, water