No Document Loan Modification. Flex Loan Modification. Understand Formula When You Get the Offer.
Автор: Motivational Esquire
Загружено: 2021-04-05
Просмотров: 9478
Did you know that some banks offer loan modifications with no application. They are called Streamline and Flex Loan Modification from Fannie Mae and Freddie Mac. People who are late on their mortgages for more than 90 days are sometimes offered a mortgage modification with no application! What controls is the MTMLTV and the Fannie Mae Mortgage Modification Interest Rate that is usually 2% less than most contract mortgage interest rates. Learn the secrets of a No Document Loan Modification from Fannie Mae. If you are late on your mortgage over 90 days, the bank will instantly offer you a Streamline or Flex Loan Modification without an application. The modification terms depend on what you owe and the property value.. not your income!!
@MotivationalEsquire
00:00 Introduction
02:33 Flex Loan Modification (MTMLTV)
03:53 Determining Unpaid Principal Balance
05:40 Determining Property Value
07:46 Fannie Mae Modification Interest Rate
09:35 MTMLTV Formula
10:35 Underwater Mortgage
13:15 Less Than 20% Equity
14:56 More Than 20% Equity
16:59 Payment Went Up!
19:00 Closing Thoughts on Flex Loan Modifications
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