Refinancing or getting a home loan modification through Ditech (GMAC) is now easier, and more beneficial for a homeowner than is has ever been. President Obamas housing stimulus plan allows millions of homeowners the opportunity to refinance or modify their home loan into a fixed rate 4% mortgage, and Ditech is participating. Here are some helpful tips which should help you get a mortgage modification or refinancing from Ditech (GMAC).
The following are items of interest from the report: At month-end November of last year there have been 405,700 HAMP trial and permanent home loan modification implemented. This does not make the government's aim of having 500,000 modification closings done by November and does not seem to be on target to assist the three to four million borrowers the modification program was supposed assist.
Homeowners everywhere across the country have seen the prices of their homes sink dramatically as a direct result of the distressed economy, and the even tougher home marketplace. At Present, these homeowners are able to get a fixed 2% interest rate when their home loan is modified or refinanced by using Obamas program.
Some positives about new foreclosures, they dropped 15 percent in the third quarter. Starting a new trend to replace foreclosure are short sales and deeds in rising by 39 percent in the third quarter from 12,300 to 17,400. This is also good news and the success of foreclosure alternatives and home loan modification, like these mentioned is the reason for the drop in foreclosures.
A lot of homeowners at present have a home loan that is more valuable than their houses market place value. Now applying this plan, a homeowner can refinance or get a home loan modification even if they owe up to 5% more on the mortgage than the houses actual market value. Homeowners looking to refinance or modify their home loans will have a much better chance of getting approved. This plan form Obama can easily spare a homeowner hundreds of dollars per year, and is super easy to get.
The following are items of interest from the report: At month-end November of last year there have been 405,700 HAMP trial and permanent home loan modification implemented. This does not make the government's aim of having 500,000 modification closings done by November and does not seem to be on target to assist the three to four million borrowers the modification program was supposed assist.
Homeowners everywhere across the country have seen the prices of their homes sink dramatically as a direct result of the distressed economy, and the even tougher home marketplace. At Present, these homeowners are able to get a fixed 2% interest rate when their home loan is modified or refinanced by using Obamas program.
Some positives about new foreclosures, they dropped 15 percent in the third quarter. Starting a new trend to replace foreclosure are short sales and deeds in rising by 39 percent in the third quarter from 12,300 to 17,400. This is also good news and the success of foreclosure alternatives and home loan modification, like these mentioned is the reason for the drop in foreclosures.
A lot of homeowners at present have a home loan that is more valuable than their houses market place value. Now applying this plan, a homeowner can refinance or get a home loan modification even if they owe up to 5% more on the mortgage than the houses actual market value. Homeowners looking to refinance or modify their home loans will have a much better chance of getting approved. This plan form Obama can easily spare a homeowner hundreds of dollars per year, and is super easy to get.