There are solutions for homeowners in almost all situations, but you have to be aware of them and you have to seek them out. If you don't you will be left with what you've got and that could spell disaster for you in the future. Get the facts and start playing the game like the big boys. The advantage is yours even if you don't realize it at this moment.
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The Relief You Have Been Waiting For
While Loan Modifications are all the rage right now, that may not be your bestoption. As a matter of fact, most Loan Modifications are only a short term fix and could leave you with much bigger problems later.
Sure, you may get a reduction in interest rate for a few years, giving you a lower payment for now, but if you don’t get principal reduction, you really don’t have any relief at all. You still have a mortgage that is much higher than the current value of your home.
That is where IFI comes in. We negotiate with the Bank to buy your Note from them at a very reduced rate (many times up to 1/2 of the current mortgage).
Once the Bank accepts our offer, you will receive your new mortgage details and have 72 hours to review them. Upon acceptance of our offer, your new Note holder will be IFI and you will pay us as you had previously paid the Bank.
You, the Homeowner, remain on the title for the entire process. You still own your home BUT the big difference is—that the mortgage you are paying on more clearly reflects the market value of your home today, rather than what you purchased it for 5 years ago.
HOMR™ Home Owner Mortgage Restructuring
Sample Transaction
| Typical Home Owner Transaction Home Purchased in 2005-2006 | $650,000.00 |
| Current Mortgage Balance 2009 | $580,000.00 |
| Estimated Including back payments & fees Current Monthly Payment estimated Principal and Interest | $3,665.09 |
| Today’s Market Value | $449,000.00 |
| Negative Home Owner Equity | -$131,000.00 |
| HOMR™ Restructured 1st Mortgage New Current Mortgage Balance | $449,000.00 |
| Monthly Payment (Fully Amortized P.I.T.I.) 30 Year Fixed Rate Term | $3,532.28 HOMR™ |
| Home Owner Restructured Savings - Equity | $131,000.00 |
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