Besides casting defaulting mortgages to new 40 year loans, FHA is also cutting out 30% of the mortgage balance! #Mortgagebailouts #housingmarketupdate #realestatenews Todd Sachs is a Maryland Real Estate Broker and not a Lender, CPA, Attorney, or Financial Advisor. Any information provided in this and any of Sachs Realty's videos and/or descriptions are for entertainment purposes only and not to be construed as broker representation, legal, financial or tax advice. All content written, spoken or implied is for informational purposes and deem to be accurate, but not guaranteed. It is your sole responsibility to verify any and all information for accuracy and correctness. Todd Sachs or Sachs Realty is not representing you unless you have a written representation agreement. This is not an advertisement for a property for sale, and if you're currently represented by another Real Estate Brokerage, this is not an attempt to solicit your representation. Sachs Realty is REAL ESTATE WHEVER YOU ARE! Looking to buy or sell? We efficiently assist buyers, sellers, landlords and tenants in Maryland with both residential and commercial real estate services. NOT IN MARYLAND? We offer nationwide assistance to buyers and sellers through our PREFERRED BROKER REFERRAL of great real estate professionals like us! If you're in need of residential or commercial assistance, you can always expect timely, reliable and top-notch service from Sachs Realty or any referral agent we recommend. What's your real estate need? We want to hear from you! Email Todd Sachs directly at ts@sachsrealty.com with your inquiries. Main Office: Sachs Realty 443-318-4514 Maryland Broker License Number 607720 Equal Housing Opportunity Get Social With Sachs Realty: Follow Sachs Realty On Your Favorite Audio Podcast: ...(read more)
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The Federal Housing Authority (FHA) has come out with a new plan to help homeowners who are struggling to pay their mortgage. The plan, called "FHA Chops Defaulting Balances," is a mortgage bailout program aimed at keeping people in their homes and avoiding foreclosures. Under this plan, the FHA will reduce the amount of money owed by homeowners who are delinquent on their mortgage payments. The program will forgive up to 30% of the outstanding balance, allowing struggling homeowners to catch up on their payments and avoid foreclosure. This is a major step forward for homeowners who have been hit hard by the economic downturn. Many people have lost their jobs, or have seen their hours cut back, making it difficult to keep up with their mortgage payments. The FHA Chops Defaulting Balances program offers a lifeline to these homeowners, giving them the support they need to keep their homes. The FHA has stated that the program is aimed at homeowners who have suffered a financial hardship that has made it impossible for them to keep up with their mortgage payments. This includes people who have lost their jobs, suffered a serious illness, or who have experienced a significant reduction in their income. The program is not designed for people who simply don't want to pay their mortgage or who have taken on more debt than they can handle. One of the biggest benefits of the program is that it is open to all homeowners who have an FHA-insured mortgage. This means that even if your credit score has taken a hit, or you have equity in your home, you can still qualify for the program. Another big advantage of the FHA Chops Defaulting Balances program is that it will not hurt your credit score. Unlike a foreclosure, which can stay on your credit report for up to 7 years, the program will not negatively impact your credit. The program will also help to stabilize the housing market by reducing the number of foreclosures. When people lose their homes to foreclosure, it puts additional pressure on the housing market, reducing demand and driving down home prices. By helping homeowners to stay in their homes, the program is helping to stabilize the market and prevent further declines in home prices. Overall, the FHA Chops Defaulting Balances program is a welcome relief for struggling homeowners. It offers a real solution to the problem of delinquent mortgage payments, giving homeowners the support they need to keep their homes and avoid foreclosure. If you are struggling with your mortgage, it is definitely worth looking into the program to see if you qualify. https://inflationprotection.org/fha-reduces-default-balances-mortgage-bailout-plan/?feed_id=97161&_unique_id=645f9436a54e5 #Inflation #Retirement #GoldIRA #Wealth #Investing #FHAMortgages #housingmarketnews #HousingMarketUpdate #MortgageModifcations #realestatenews #BankFailures #FHAMortgages #housingmarketnews #HousingMarketUpdate #MortgageModifcations #realestatenews
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