MortgageLoanRateUpdate
MortgageLoanRateUpdate
MortgageLoanRateUpdate
1-000-000-0000 BECOME A PARTNER
1-000-000-0000 BECOME A PARTNER
1-000-000-0000 BECOME A PARTNER
You're Now Reading:
Bank of America Prepares Mortgage Write Downs in California
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Bank of America Prepares Mortgage Write Downs in California
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Bank of America Prepares Mortgage Write Downs in California
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

March 29, 2011 (Jeff Alan)
mortgage- KYHBanner-image
Bank of America has announced that they will begin soliciting homeowners who are eligible for mortgage prinicipal write downs as part of the Treasury Department’s Hardest Hit Fund being implemented through the California Housing Finance Agency (CalHFA).

The state has received almost $700 million in funds as part of the Obama Administrations Hardest Hit Fund which provides additional funds for anti-foreclosure programs in the states that have been hardest by the current economic downturn.

As part of that program, Bank of America is beginning a pilot program allowing some California homeowners the opportunity to receive mortgage principal write downs.

A spokesperson for CalHFA said that there is no set funding limit at this time for the amount of loans that Bank of America is targeting “unless they blow us out of the water.”

“We’re really excited to get the program going,” the CalHFA spokesperson said.

CalHFA is in talks with other mortgage lenders and mortgage servicers and reports that they have also recruited Ally Financial and Guild Mortgage Company to participate in the mortgage principal write down program.

Bank of America announced at the beginning of March that it was ready to launch a similar program in Arizona and that they were finalizing plans with the state of Nevada to provide a mortgage principal reduction program there too. The state of Arizona hoped to be able to provide assistance for up to 8,000 homeowners.

“Since the Obama administration established the Hardest Hit Fund initiative one year ago, Bank of America has worked closely with both the Department of Treasury and state housing agencies to design and implement the program to provide interim payment assistance to unemployed borrowers, as well as funding for loan modification assistance to delinquent borrowers,” said Terry Laughlin, head of Bank of America’s Legacy Asset Servicing.

Tags: Bank of America, Hardest Hit Fund, CalHFA, anti-foreclosure programs, economic downturn, mortgage principal write downs, loan modification

Sources:
HousingWire.com
LoanRateUpdate
LoanRateUpdate

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

March 29, 2011 (Jeff Alan)
mortgage- KYHBanner-image
Bank of America has announced that they will begin soliciting homeowners who are eligible for mortgage prinicipal write downs as part of the Treasury Department’s Hardest Hit Fund being implemented through the California Housing Finance Agency (CalHFA).

The state has received almost $700 million in funds as part of the Obama Administrations Hardest Hit Fund which provides additional funds for anti-foreclosure programs in the states that have been hardest by the current economic downturn.

As part of that program, Bank of America is beginning a pilot program allowing some California homeowners the opportunity to receive mortgage principal write downs.

A spokesperson for CalHFA said that there is no set funding limit at this time for the amount of loans that Bank of America is targeting “unless they blow us out of the water.”

“We’re really excited to get the program going,” the CalHFA spokesperson said.

CalHFA is in talks with other mortgage lenders and mortgage servicers and reports that they have also recruited Ally Financial and Guild Mortgage Company to participate in the mortgage principal write down program.

Bank of America announced at the beginning of March that it was ready to launch a similar program in Arizona and that they were finalizing plans with the state of Nevada to provide a mortgage principal reduction program there too. The state of Arizona hoped to be able to provide assistance for up to 8,000 homeowners.

“Since the Obama administration established the Hardest Hit Fund initiative one year ago, Bank of America has worked closely with both the Department of Treasury and state housing agencies to design and implement the program to provide interim payment assistance to unemployed borrowers, as well as funding for loan modification assistance to delinquent borrowers,” said Terry Laughlin, head of Bank of America’s Legacy Asset Servicing.

Tags: Bank of America, Hardest Hit Fund, CalHFA, anti-foreclosure programs, economic downturn, mortgage principal write downs, loan modification

Sources:
HousingWire.com
LoanRateUpdate
LoanRateUpdate

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

March 29, 2011 (Jeff Alan)
mortgage- KYHBanner-image
Bank of America has announced that they will begin soliciting homeowners who are eligible for mortgage prinicipal write downs as part of the Treasury Department’s Hardest Hit Fund being implemented through the California Housing Finance Agency (CalHFA).

The state has received almost $700 million in funds as part of the Obama Administrations Hardest Hit Fund which provides additional funds for anti-foreclosure programs in the states that have been hardest by the current economic downturn.

As part of that program, Bank of America is beginning a pilot program allowing some California homeowners the opportunity to receive mortgage principal write downs.

A spokesperson for CalHFA said that there is no set funding limit at this time for the amount of loans that Bank of America is targeting “unless they blow us out of the water.”

“We’re really excited to get the program going,” the CalHFA spokesperson said.

CalHFA is in talks with other mortgage lenders and mortgage servicers and reports that they have also recruited Ally Financial and Guild Mortgage Company to participate in the mortgage principal write down program.

Bank of America announced at the beginning of March that it was ready to launch a similar program in Arizona and that they were finalizing plans with the state of Nevada to provide a mortgage principal reduction program there too. The state of Arizona hoped to be able to provide assistance for up to 8,000 homeowners.

“Since the Obama administration established the Hardest Hit Fund initiative one year ago, Bank of America has worked closely with both the Department of Treasury and state housing agencies to design and implement the program to provide interim payment assistance to unemployed borrowers, as well as funding for loan modification assistance to delinquent borrowers,” said Terry Laughlin, head of Bank of America’s Legacy Asset Servicing.

Tags: Bank of America, Hardest Hit Fund, CalHFA, anti-foreclosure programs, economic downturn, mortgage principal write downs, loan modification

Sources:
HousingWire.com
LoanRateUpdate
LoanRateUpdate

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.