Acinc Mtg Group Principal Reduction-Short Pay Refi (Acinc Mtg Group) Mortgage and Lending

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Acinc Mtg Group Principal Reduction-Short Pay Refi
location_on Deerfield Beach, FL — Acinc Mtg Group
Get to Know Acinc Mtg Group Principal Reduction-Short Pay Refi

Acinc Mtg Group Principal Reduction- Short Pay Refinancing

    As we all know the current housing market has made a turn for the worse over the last 30 months. This has put clients like you that pay on time and handle your debts correctly in a position that you have no control of. Our company will help you put control back in your hands.  We do this by working directly with the nation's leading serving companies and banks.  They allow us to submit your transaction to a new bank or lender (refinance you) and will take a loss on the current mortgage loan balance (upside down) called a short pay, loan settlement or principle reduction loan. The reason the big name banks and lenders are allowing this process to take place is for the following reason.

1. Takes all risk off their book (the banks know that you are considered high risk because essentially you are renting your home from the bank because of being upside down in equity.  People in this situation are at a higher risk of walking away from their home instead of paying their bills statistically)

2. It increases the banks cash flow

3. They receive stimulus money to assist you and to compensate the loss they take 

4. They have to take part in helping adjust the Real Estate market.

5.They feel they may have put you in a loan you could not afford in the first place such as a 100% loan also know, as a 80/20, a STATED, NO DOC LOAN or adjustable rate loans.                       

If you fall under any of these above categories you are eligible for a short pay or loan settlement.  We achieve this for our clients by doing the following steps: 

•1.       Contact a client with a mortgage with bad equity

•2.       Explain the new loan process (the client will be getting a new mortgage below their current market value direct with the Federal Housing Administration at a fixed rate at today's lowest rates)

•3.       Gather clients loan documents (last 2 years income documents, current pay stub, copy of driver's license and social security card, proof of insurance or insurance declaration page and 2 most recent banks statements. Last we will help the client prepare the hardship letter to submit to you current lender.

•4.       We will then do an automated value search on you property to get a strong idea of current market value

•1.       Our company simultaneously submits you for a new FHA loan while we are obtaining the approval on your short pay/settlement/principal reduction from your current lender.  At this point we order an appraisal (only out of pocket cost.  approximate cost is $350.00) 

•2.       We will have both your approvals and short pay approved within 40 days and will close your new loan inside of 60 days. 

When all is complete your overall situation should look like the following: 

Example: Client will get an interest rate at current market between 4.875%-6% on a 30 year fixed or 4.25%-5% for a 15year mortgage.   Client will have Loan to value adjusted down below current appraised value.  Client will be in a federal backed loan from FHA.

Please contact me if you have any further question involving this process.  In addition our company offers the lowest interest rates and closing cost in today's market.  Please allow me to assist you in all your home financing needs.  

Arthur Candler- Mortgage Banker-SHort Pay Specialist

954-934-5422 Phone direct

ArtC@AcincMtg.com    ArthurCandler@aol.com

Acinc Mtg Group

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