Help for Idaho

There are many homeowners who are late on their mortgages due to a variety of reasons. Some of them have been lulled into a loan modification offered by their lenders. Usually, the loan modification path is very frustrating and leads to a denial even after several attempts. I have included some links below that may be helpful for those attempting a loan modification.

Bank of America - Loan Modifications
Wells Fargo - Loan Modifications
Citimortgage - Loan Modifications
Chase - Loan Modifications 
Fannie Mae - Loan Modifications
Freddie Mac - Loan Modifications

Unfortunately, the odds are stacked against you in obtaining a loan modification. Banks are in the business of collecting money, not modifying loans. They either want the money or your home.

If you have truly exhausted all your means of paying your mortgage and you have been denied a loan modification once, twice or even three times, the best solution may be a short sale. Here are links to shot sale information from the top four lenders.

Making Home Affordable
Bank of America Short Sale Information
Wells Fargo Short Sale Information
Citimortgage Short Sale Information
Chase Short Sale Information

We hope this information help. Stayed tuned for our new website, http://www.HelpForIdaho.org.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor

Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan!
Click Here to Pre-Qualify for a Loan Online!

Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Idaho Foreclosure Information - Foreclosure Help - Are You in Foreclosure?

Thank you for taking the time out to watch this video

The severe economic downturn that we as a nation have experienced over the last few years has caused many homeowners to default on their mortgage payment. You may be one of them.

Although banks may seem like they are trying to help you by offering a potential loan modification, in reality less than 10 percent of those attempting a loan modification actually succeed. In reality, banks are in the business of collecting money, they don’t benefit by modifying your loan terms.

If you are about to stop paying your mortgage, or have stopped paying or are in foreclosure, The Iron Eagle Realty Team can help.

A foreclosure will stay on your credit report for up to 7 years. This will have an adverse affect on your credit, severely limiting your ability to obtain a loan, credit cards, and potentially employment. In addition, your bank may even pursue you for the deficiency on your loan after they foreclose.

We have helped many homeowners avoid foreclosure, minimize the effect on their credit, negotiate to eliminate the banks right to pursue them for the deficiency in the future and assisted with eliminating any tax consequences. Best of all, this help comes with no upfront costs to you.

If you are interested in a no-cost consultation, please call us at 208 939 9033 or email us at info@ironeaglere.com. We look forward to helping you avoid foreclosure.

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor

Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan!
Click Here to Pre-Qualify for a Loan Online!

Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com

Big Four Set to Participate in HARP 2.0

Here's an article from DSNews about the new HARP program. Another government sponsored debacle waiting to happen paid for by you and me!

Big Four Set to Participate in HARP 2.0
10/27/2011 BY: CARRIE BAY

The industry’s four largest mortgage servicers all say they will be taking part in the revamped Home Affordable Refinance Program (HARP).


Bank of America, Chase, Citigroup, and Wells Fargo have each expressed their support of the program and the changes that will allow more underwater homeowners to refinance at today’s lower interest rates.
Government officials expect the program’s revisions – particularly the GSEs’ waiver on representations and warranties – to increase competition for mortgage refinancing.
An executive with JPMorgan Chase told the company’s investors this week that HARP 2.0 will facilitate “cross-servicing refinancing” because with the rep and warranty waiver, the new lender is not required to assume responsibility for underwriting deficiencies that may have occurred with the original loan.
Chase explains that HARP may be used to replace an adjustable-rate or interest-only loan with a standard fixed interest rate loan, and typically reduces the borrower’s monthly payment.
Frank Bisignano, CEO of mortgage banking at Chase, estimates that with the new HARP guidelines, thousands of Chase customers could lower their mortgage payments by an average of $2,500 a year.
Citi said in an emailed statement that it “supports the program and expects to participate.”
Wells Fargo, likewise, said in a statement that it “welcomes the addition of the new HARP features.”


Veronica Clemons, a spokesperson for Wells Fargo Home Mortgage, says the company is waiting for specific guidelines and requirements from Fannie Mae and Freddie Mac in order to put the changes into practice.
She adds that once the company’s mortgage servicing team has the guidelines in hand, “it will take us some time – depending on the complexity of the guidelines – to make the necessary systems changes to begin offering the new enhancements to our customers.”
The GSEs’ regulator, the Federal Housing Finance Agency (FHFA), says Fannie and Freddie plan to issue guidance with operational details about the HARP changes by November 15th.
“Since industry participation in HARP is not mandatory, implementation schedules will vary as individual lenders, mortgage insurers, and other market participants modify their processes,” FHFA said.
Bank of America says it will participate in the enhanced Home Affordable Refinance Program announced by the administration, and it expects the new guidelines and eligibility criteria to go into effect after December 1st.
“Despite ongoing economic challenges, nearly 90 percent of our customers remain current on their mortgage,” BofA spokesperson Rick Simon said. “HARP helps these homeowners who remain current on their mortgage with options to lower their monthly payment when, otherwise, conventional funding options are limited.”
The GSEs have removed the 125 percent loan-to-value (LTV) cap under the program. Now any borrower with an LTV ratio above 80 percent is eligible for a HARP refinance, as long as the loan was sold to Fannie or Freddie prior to May 31, 2009, and the borrower is not delinquent on their payments.
Since HARP was launched in 2009, nearly 900,000 loans have been refinanced through the program. Government officials estimate that an additional 1 million homeowners will receive assistance under the new guidelines.
In its announcement of the program changes, FHFA encouraged borrowers to “contact their existing lender or any other mortgage lender offering HARP refinances.”

The Iron Eagle Realty Team's mission is to assist you, our client, in the sale and acquisition of real estate properties in the state of Idaho, specifically the Boise Idaho Real Estate Market. Whether you are buying or selling a home, whether it is a foreclosure, short sale or equity property, we handle our customers and clients with empathy and honest truths so they can make informed decisions as they advance in the process of buying and selling real estate that meet specific needs.

PS: We've Helped More Buyers and Sellers than 99.8% of any Local Realtor

Click Here to Search 24/7 for The Best Real Estate Deals in Boise!
Click Here to Download Our Free "Selling Your Home" Pre-Listing Plan!
Click Here to Pre-Qualify for a Loan Online!

Regards, Michael Hon, REALTOR®
CEO, The Iron Eagle Realty Team
Associate Broker, Silvercreek Realty Group
Certified Short Sale Specialist®
Investment Property Consultant
Direct: 208.919.0458 Office: 208.939.9033 Fax: 208.514.1422
www.IronEagleRE.com Michael.Hon@IronEagleRE.com