Principal Reduction Program
Florida Principal Reduction Program
You Gain 10% Instant Equity,
and "Eliminate" Negative Equity
Once your mortgage has been through our Principal Reduction Program, your property will be refinanced. Qualified buyers will be offered a new conventional loan at the new refinanced amount.
If you do not qualify for the Conventional Loan due to damaged credit or for any other reason you will be offered a loan through our private partners. The following terms will apply:
a. 30 year fixed rate
b. Prime + 4%
What's in it for you?
Case study of our principal reduction program
Current Mortgage:Loan Amount
Interest Rate
Monthly Payments
1st Loan $150,000
7.5 %
$ 1,048.82
2nd Loan $ 50,000
9.0 %
$ 449.86
Total Loan $200,000
$ 1,498.68+ T/I
New Mortgage Estimates:
Current Market Value (CMV) / Broker Price Option (BPO): $100,000
Loan Amount
Interest Rate
Monthly Payments
Loan $90,000 (90% CMV)
7.25 %
$ 613.96 + T/I
Instant monthly savings = $884.72
Eliminate $110,000 of NEGATIVE EQUITY!
You Gain 10% Instant Equity
OLD mortgage payment
Homeowner Save
$ 1,498.68+T/I / month
$ 884.72 month
NEW mortgage payment
That's
$ 613.96 + T/I / month*
$ 10,616.64 / year
*BASED ON 7.25 % INTEREST (APR 7.431%)
Mortgage Principal Reduction News
Mortgage Principal Reductions Would Cost Fannie, Freddie $100 Billion - LoanSafeTue, 24 Jan 2012 01:55:01 GMT
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Meet the Obscure Federal Regulator Who's Not Helping Homeowners - ProPublica
Mon, 06 Feb 2012 21:19:38 GMT
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Consumer Confidential: Mortgage deal, Redbox service, Clint rules - Los Angeles Times
Mon, 06 Feb 2012 18:04:39 GMT
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More incentives for principal reduction - Baltimore Sun (blog)
Mon, 30 Jan 2012 11:19:27 GMT
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California may join multi-state mortgage settlement - Los Angeles Times
Mon, 06 Feb 2012 17:09:07 GMT
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