20 Jun 2012
Everyone who owns or wants to own a home owes it to their family to read this one.
Banks now have to eliminate credit score requirements for refinancing!
Don’t think they did it because they like you- Banks had no choice!
The Fed has demanded that refi requirements be loosened so that homeowners can take advantage of today’s historically low rates. With credit score requirements being eliminated and homeowners saving up to $145,000, now is the time to see how much you can save by refinancing.
Home owners with less than $625,000 owed on their mortgage are being encouraged to re-finance.
All of our research pointed to one site as the most comprehensive site to get you on the right path for home re-financing, debt consolidation and tax debt relief.
U.S. Attorney General Eric Holder, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced that the federal government and 49 state attorneys general have reached a landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses.
“This agreement – the largest joint federal-state settlement ever obtained – is the result of unprecedented coordination among enforcement agencies throughout the government,” said Attorney General Holder. “It holds mortgage servicers accountable for abusive practices and requires them to commit more than $20 billion towards financial relief for consumers. As a result, struggling homeowners throughout the country will benefit from reduced principals and refinancing of their loans. The agreement also requires substantial changes in how servicers do business, which will help to ensure the abuses of the past are not repeated.”
“This historic settlement will provide immediate relief to homeowners – forcing banks to reduce the principal balance on many loans, refinance loans for underwater borrowers, and pay billions of dollars to states and consumers,” said HUD Secretary Donovan. “ Banks must follow the laws. Any bank that hasn’t done so should be held accountable and should take prompt action to correct its mistakes. And it will not end with this settlement. One of the most important ways this settlement helps homeowners is that it forces the banks to clean up their acts and fix the problems uncovered during our investigations. And it does that by committing them to major reforms in how they service mortgage loans. These new customer service standards are in keeping with the Homeowners Bill of Rights recently announced by President Obama – a single, straightforward set of commonsense rules that families can count on.”
Drop the ball and sleep on this one! Get started securing you family’s future.