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Hello, I also am a 100% Vet.  I started making payments on my student loans in late 2006.  In June 2007 I purchased a house in  Sequim, Wa.  I used my VA Loan and got a high-6.375%- interest rate.  Just last December 2009 I refinanced and got a rate of 4.875%.  Saved $300 per month. 

 I  am just making my payments on auto-pay and don't think about them.  You could probably arrange a low repay schedule like I did.  By the way I just shopped for the RE-Fi loan on the web and got the good rate.  I took just 3 weeks to turn around and cost me very little, like $1200 (rolled into the loan) to do it.  I went to First National Bank of Kansas City.  (I don't know or work for them).  Wells Fargo wanted to charge me $5600 to do the Re-Fi and just for a 5.6% rate.  Imagine my pleasure when Wells Fargo bought the loan from FNB of Kansas City.

 I just started paying and worked the system.  I am a 100% Vet with PTSDF and a not-so-sharp brain.

Hi everyone,my name is Roger,I made some mistakes and bad decisions and judgement in my past,and it cost me,I now have bad credit and am in need of advice and help.I am on social security disability,I get paid 1650/month and my wife and I would like to buy a different home or refinance our house.The house we live in needs some work and some improvements,we need our gas turned back on,we need new stove(oven quit workin),we also would like to pay all our debt on credit report.We cant get a improvement loan and have that monthly payment on top of our other payments.by getting new home or refinancing,we can do the above mentioned things and have our property tax and insurance all in 1 monthly payment,I really hope someone can help me or tell me someone that can,I am workin towards makin a better life for my family.we also have started sellin avon,and I know if I can get this house improved or get into another house,and get all things mentioned done with one monthly payment,our lives will improve,our business will grow,and as we prosper,it is truly our goal to help others in need do the same.

Most of you that have a mortgage are not aware of how much dropping your interest rate can truelly save you.  I would like to share some information with you guys that shows you just how much lowering your interest rate can truely save you. To do this I am going to use a base loan amount of 150,000.00 and a starting interest rate of 6.5% and a term of 30 years.  For this senerio your mortgage payment (just your principal and interest, do not compare with taxes and insurance because those are the same where ever you go) would be 948.10.  I am going to show you how much your payment would drop by lowering your interest rate in intervals of a quarter percent.  Most people beleive that you should only refinance if you can lower your interest a full percent but this is not usually the case.

Starting Payment 948.10 

6.25% - 923.58

6.00% - 899.32

5.75% - 875.36

5.50% - 851.68

5.25% - 828.30

5.00% - 805.23

LOOK AT THE DIFFERENCE! The difference is huge!  If you think about savings in a hole you are saving almost 20 each time you lower your rate by a quarter of a percent, now this might now seem like a lot but....what if you multiple 20 by 360 (the number of months a normal 30 year mortgage is) that's 7,200! just for a 20 difference.

So here is the best part about refinancing.  Let's say that you started with 150,000 for your loan amount but sense you started your loan you have paid it down 10,000.00 so you owe 140,000.00 with an original interest rate of 6.5%. Now let's see how much of a payment difference each of the above interest rates makes.

6.25% - 862.00

6.00% - 839.37

5.75% - 817.00

5.50% - 751.55

5.25% - 773.08

5.00% - 751.55

So let's see if I can help this make sense.  In the first examples of payments I showed you how much lowering your interest rate by .25% could change your mortgage payments.  In the second examples I showed you how much lowering your loan amount by 10K and your interest rate by .25% each time could do.  To sum this up, you can safely estimate that for every 10K you lower your loan amount by you are saving $61.58.  With this you can make a guess as to how much you will save just by how much you've paid off your loan sense you started it.  10K - 61.58, 20K 123.16, 30K 184.74, and so on. 

So really quick, and then I'll be done, let's say that you started with 150,000 and you've paid off your loan to 140,000 and you decide to refinance and at the time you can get it to 5.5%.  You're original payment was 948.10.  Your new payment will be, roughly, 751.55 for a total savings of 196.55!  But, it's going to cost around 3,000 to do the refinance (mind you that you can add this into your total loan amount, thus not having anything out of pocket).  Does this refinance still make sense?  The answer, YES! If you figure you are saving 196.55 each payment and it's costing you 3,000 to do that; if you divide 3000 by 196.55 it equals 15.26 this means that in just under 16 months you will actually save up the 3,000 that it cost, from month 16 on up for the next 344 months you will be saving 196.55 each month for a grand total savings of........67,613.20!!!!!

This is why I love my job!  To be able to save someone that much money is amazing!

So I guess this is where I try to make all you interested in me!  Well that is normally easy for me to do because I never Shut Up and everyone knows everything about me after they meet me.  Well first off I am a mother and love it!  I have two beautiful kids and a pretty ok husband that drives me crazy most of the time, but you still gotta love him.  I work for a highly repitable mortgage company, you can see my web page by clicking on the link.  I love family work and play.  The most rewarding part of my job is the fact that I get to help people buy their first home or help someone get out of trouble with their current mortgage.  We each get to help eachother out.

I love what this site does for others and I hope that I might be able to help some of you out.  I too am in financial trouble because of the current economy.  I would love to help any one that needs help which in turn would help me out financialy.  Thanks all for your interest!

For those of you needing help with mortgage relief before loosing your homes....here is another website to check out...it may help you save your house!  Good luck and God Bless! 

https://www.naca.com/index_main.jsp

For all of you who are having a crisis with mortgages and cannot afford your house or are afraid of losing your house....here may be a solution!

I contacted my mortgage company many times and finally found someone there recently that gave me a break. Apparently President Obama has put through this new plan that started at the beginning of May called "Making Homes Affordable" (according to the paperwork I got from my mtg company).

Call your mtg company TODAY if you are in trouble and ask them about this plan!!!!!!!!!!!!

The government is trying to allow us to keep our houses. It cut my mtg payment into 1/3 and it created an escrow account for me when I didn't have one. Not too bad for someone who went from working full time to now only having income from unemployment.

If you run into issues with your mtg co, the governmental agency's phone number is 877-SIG-2009. (I would only try that as a last resort though.)

I wish you all  the best of luck and God Bless.

Hi,

   I'm 51 year old father of 2 daughters 10 & 16 and have been disabled since 2004. I have chronic pancreatitis and a diabetic. I have been going to the hospital and doctor visits to try and control my problems, and now they're talking surgery again and that I might have cancer in my gall bladder, which is a death sentence for me. Paying for the prescriptions, and the co-pays are just adding up. I'm paying cobra, which will run out at the end of the year, I'm on Social Security diablility which doesn't pay the bills, and my wife works a job she hates, but it brings a few dollars in. And there's nothing else that she can look for that is better and the job she has. We are always in the red, and now my yougest daughter has a kidney problem. In 2004 I got Staph, and was in Coma for 3 months and was not expected to live then, but I'm a survivor. We had to refinance our house, and now we're upside down with the economy being bad and not able to pay the full amount using that variable payment plan we're getting more and more in debt. Both my vehicles are wearing out and don't have the money to maintain them, tires,brakes,oil changes,and things are breaking around the house. Just to have some plumbing fixed would be great! It's getting unsafe for my wife and kids with things falling apart.Anyone that could just help us a little bit would be greatly apprieciated. I need insurance for all our medical problems and if I have another major medical problem after I don't have insurance, it would just break us. I'm not one to go out and ask or beg for money, but these are unusual times for us, and I would normally be working and taking things that come and handling it myself with hard work and effort, but physically I'm not in any condition to do that right now, and it hurts me that I can't do what I should be doing to help my family. No life insurance, and no back-up to financially cover any additional costs. I tire easily and take many drugs to keep me going day to day.  THANK YOU for your kind heart and generosity!

I am a 57 year old disabled male.  I have lived in my condo for 14 years, but the last 7 years i became disabled and now I have fallen behind on my mortgage.

I owe about 15,000 dollars. Is there any government grants that I can apply for.

I am trying to negotiate with the mortgage company- they are Countrywide Mortgage.

Any advice would be helpful.  Thanks

Bob

DO NOT BE TAKEN! 

The following is JUST AN EXAMPLE OF THE VALUABLE INFORMATION from the web site of:

http://www.mortgagenewsdaily.com/mortgage_fraud/predatory_lending.asp

Mandatory Arbitration
Another practice that falls within the definition of predatory lending happens when a lender hides words in the fine print that make it illegal for the homeowner to take legal action against the lender. The borrowers sign away their rights to sue the lender for any fraud, predatory actions or illegal actions. The only right the borrowers have is to take their grievances to arbitration. The arbitration process is totally in the hands of the lenders, usually conducted in secret without the borrowers having adequate representation. Although the borrowers can usually have legal counsel, they find it difficult to find anyone who will represent them because the lawyers are not guaranteed payment of their fees in arbitration like they are in court. Many arbitration cases are handled over the phone and when a small individual is pitted against a large corporation and the proceedings are confidential with no stenographic or written record of the facts, the borrower is at a true disadvantage. Most arbitration decisions are binding and the borrowers cannot appeal them.

More than 50% of the lenders are now including mandatory arbitration in their loan documents, and the borrowers remain unaware of the implications. Lenders favor arbitration because it eliminates a borrower's rights to do a class-action suit against the lender. The Fair Credit Reporting Act and the Truth in Lending Act have no bearing in an arbitration situation, only if one can go to court. And, some lenders keep their right to go to court but prohibit the borrower from doing so. The fees for arbitration can also be more expensive than filing a small claims court suit. Overall, the borrowers who sign a mandatory arbitration contract are bound to a very lopsided arrangement that rarely is in their best interest.

The major arbitration administrators that a borrower can utilize are the National Arbitration Forum, the American Arbitration Association (ADR), and Jams Endispute.

I am in Taylor, Michigan. I use to work at Farmer Jack. My wife did also. We both lost our jobs when Farmer Jack shut down and sold the stores. I need someone that will give us direction on how to get a refiancing loan with poor credit. Please if anyone can help us, please email me  Yabber2006@yahoo.com. Thanks!

                                                                                                         Paul

I KNOW YOU CAN HELP ME,

I NEED LOANS;

 FOR MY TWO RENTAL PROPERTY, BOTH ARE ADJUSTIBLE RATE, ONE OF

THEM IS FORCLOSED IN PROGRESS. I REALLY WANT TO KEEP THEM, I OVERDUE.

BUT IF SOMEONE WILL TRUST ME WITH REFINANCING THEM I KNOW, I CAN SAVE

THEM AND KEEP IT.