National Mortgage Debt Forgiveness Town hall meeting
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Town Hall Meeting slides presented by Troy Sage regarding the National Mortgage Debt Forgiveness for homeowners
National Mortgage Debt Forgiveness Town hall meeting
- 1. Town Hall Meeting Knowing Your Home Loan Rights
- 2. Homeowner Advocate Troy Sage Troy Sage Over 25 years experience Nationally Acclaimed Top Educator and Negotiator Certified Distressed Homeowner Advocate
- 3. Your Home Loan How many Loans do you Have? What kind of Loan? Conventional FHA VA Other 1.How much do you Owe? 2.Current with Payments? 3.What’s your Home Worth? 4.What can you do with your current Loan?
- 4. Servicer & Note Holder
- 5. HARP 3.0 Must be Current on your Loan Payment Primary Residence or Investment Property Note Holder is Fannie or Freddie Loan obtained by Fannie or Freddie on or before May 31, 2009 Current Loan to Value MUST be 80% or greater
- 6. Beware of Loan Mod Scams Never pay for Loan Mod Help Loan Mods are a Simple Process Protect your Assets and Financial Information
- 7. Debt to Income Ratios DTI must be between 31% - 42% Perfect situation 32%36% Can Not have hidden assets
- 8. DTI Equation What are your numbers?
- 9. Debt to income reality Most Homeowners will not Qualify. This is the Harsh Reality!
- 10. Most Loan Mods are Rejected Start with a Trial Loan Mod 90 Day Trial Bank Collects Financial Information Homeowner has missed payments If the bank can NOT make money from you they reject the Loan Mod
- 11. The shocking truth Banks Don’t want to Modify your Loan
- 12. Re-Default Loan Mods Loan Mods Re-Defaulting
- 13. Your Options 1.How much do you Owe? HARP 3.0 2.Current with Payments? Loan Modification 3.What’s your Home Worth? Forbearance Short Sale Foreclosure 4.What can you do with your current Loan?
- 14. Town Hall Meeting Knowing Your Home Loan Rights Q&A