www.floridahrm.info There is no credit check and no income verification. If you are a Florida property owner and your property is currently worth 0k or more, if your mortgage is upside down and your lender has changed one or more times, if you have not been served papers, or your lis pendens is over 12 months old, and if you can afford a new reduced monthly mortgage payment… it is likely that you may qualify. The following factors do NOT affect qualification: Bad Credit: Your credit score does not matter. A credit check is not required ! Late or Delinquent Payments: It does not matter if you have been late with your payments or even if you have stopped paying them altogether. Remember, this is NOT a modification. Short Sale: Perhaps you have tried everything that you knew and felt that you had no other option but to sell your home and move. If you have started short sale proceedings as a last resort, you have another option now. Find out if you qualify, get a new mortgage set below its current market value, and keep your home.
www.peoplestandup.ca by Terrence MdKenna’s voice that this is from “DocZone,” a CBC.ca The credit crunch The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead. The sub-prime crisis and housing bubble The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch. Although the housing collapse in the United States is commonly referred to as the trigger for the global financial …
