Mortgage Loan Modification by Residential Wholesale Mortgage, Inc

Let one of our advisors assess your ability to qualify for a loan modification or other options that might present a better fit for your unique situation.

What is a Loan Modification?
A loan modification is an agreement between a borrower and a lender to change the terms of an existing mortgage loan in order to improve the borrower's ability to repay. The modification agreement generally results in a reduced monthly loan payment amount to make loan payments more affordable for the borrower, help them stay current, and keep them in their home.

An Expert Mortgage Professional on Your Side
Having an experienced mortgage professional on your side can make all the difference. While any homeowner may initiate a loan modification, we have found that having an expert to handle the negotiation with your lender is often preferable.

	more favorable borrower terms - we know the rules
	faster results - we know how to get their attention
	less borrower stress - we do it all for you

How Does a Loan Modification Work?
Many large mortgage companies are participating in government programs that help them offer assistance to homeowners who are struggling to make their mortgage payments. Upon request a loan servicing company will work with a borrower in an "at risk" situation to negotiate modifications on an existing mortgage loan by changing various terms of the original loan agreement. More information on government programs is available at www.makinghomeaffordable.gov.

Will I Qualify
Homeowners who can prove hardship situations such as income loss, increased expenses, mortgage interest rate increases, and serious home value decline are generally good candidates for loan modification relief.

	Owner-occupant in a one to four unit property,
	Unpaid principal balance that is equal to or less than $729,750 for one unit properties
	Loan that was originated on or before January 1, 2009
	Mortgage payment that is more than 31% of gross (pre-tax) monthly income
	Mortgage payment that is not affordable due to hardship situation

With a call to one of our advisors we can quickly assess your ability to qualify for a loan modification or other options that might present a better fit for your unique situation. If you decide to use our expert services we will advise you up front what our services will cost and what we will deliver.

Put a Mortgage Professional on your side. Call now for a free consultation to get started on a loan modification.

European Concerns Increase

Increased concerns about Europe helped mortgage rates improve this week, although the impact of the recently passed extension to the payroll tax reduction is beginning to push up mortgage rates for certain loans (discussed below).

The news from Europe was mostly negative this week. Economic growth in Germany was slower than expected. Negotiations on restructuring Greek debt did not progress as planned, increasing the risk of default. S&P is downgrading the debt of several European countries, including France. Finally, the European Central Bank (ECB) provided no relief, as it gave no indication that it would increase the level of aid available to troubled countries. As a result, investors shifted funds to relatively safer investments, including US mortgage-backed securities (MBS), which helped mortgage rates move lower.

The recently passed extension to the temporary payroll tax reduction contained a lightly publicized revenue raising provision to increase the guarantee fees charged on Fannie Mae and Freddie Mac loans. This fee results in higher rates for borrowers, and mortgage rates for loans not expected to close within the next month or so have begun to reflect this coming increase in guarantee fees.


	800.865.6266

Call 800.865.6266 for current interest rates. Each rate quote we provide is custom & we offer the most competitive products and programs available in the market place when considering your specific situation.

Rates are subject to change.