Bank of America Mortgage Refinance - Will You Qualify? [mortgageinsurance-101.blogspot.com]
easyhomeloanmod.com for more information. Getting approved for a Bank of America mortgage loan modification can be tough. In this video, i show you exactly how you can get approved for a bank of america mortgage loan modification.
mortgageinsurance-101.blogspot.com Getting Approved For a Bank Of America Mortgage Loan Modification
US Treasury Department's Making Home Affordable plan is the best solution to get Bank of America mortgage refinance:
Hope you know that the US government has introduced the Making home Affordable plan which is facilitating the approval of the refinance solutions. This has been a good move by the government which is trying really hard to stabilize the housing market of United States. Hopefully we will be seeing results soon. The advantage of getting the bank of America mortgage refinance under this plan is that the home owners who were earlier rejected for the refinance would now be able to qualify since the requirements are much less now. Thus people who have a little or no equity have very high chances of getting approved for these solutions and save your home from the foreclosure. I will explain more about this topic below.
What are the Requirements and Guidelines for Bank of America mortgage refinance?
1.
These are solutions introduced for people who have got mortgages owned by Fannie Mae or Freddie Mac,2. You need to be current on your mortgage payments to get qualified. People who are delinquent will not get qualified. But you can try to get the mortgage modification to solve your home problems,
3. The mortgage must not exceed 105% of your current market value of the home.
More Advantages:
Another advantage of getting these solutions is that the mortgage insurance will not be required by the lender if the first mortgage did not carry the insurance. Moreover there is no limit on the credit score to get qualified. Thus people with a bad credit can get qualified easily to receive the mortgage refinance.
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