Has anyone been thru the Florida Mortgage Modification Program? What can one expect?
April 17th, 2009
Surely I’m happy.. asked:
Considering Florida Mortgage Modification Program, but fear my expenses maybe too high to qualify.
Considering Florida Mortgage Modification Program, but fear my expenses maybe too high to qualify.
All mortgages will be paid with invisible money.
As I understand Obama’s loan modification, the mortgage lender has to bring your debt to income ratio down to 38 per cent by extending the loan term, allowing you to pay interest only or be lowering your interest rate to as low as 2%. Then the deep pickets government will kick in to get the ratio to 31 per cent, i believe the cap on the mortgage amount is in the $75,599 range. Sweet deal. There is another plan for those wanting to refinance but is too complicated for my feeble mind to comprehend.Google Obama’s Loan Modification for all the gory details.
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