What happens when you bought your house at the peak of a market and then saw your home's value drop to below what you owe on your mortgage? This is probably a very common situation these days as we've seen the market take a dive this past year. Now, I want you to combine that with many of the "interest rate only" or "no money down" lending programs offered at those times and where do you fall? The answer is "UPSIDE DOWN." Many homeowners are today facing interest rates that will begin to unlock and fluctuate making their monthly mortgage payments almost 30-40% higher.

There are a few options to you if you fall under this type of situation.

1. If your home's value is still higher than your mortgage, you may consider a Re-Finance. Many homeowners are unfortunately unable to refi their homes because they owe more on the home than its worth.

2. You can walk away from the home and hope for a short sale. In this case you face a foreclosure and destroy your well earned credit.

3. Or, you can try the now more common Loan Modification which we'll talk about below.

Loan Modifications are becoming increasingly popular these days due to the high percentage of foreclosures the industry is facing. A loan modification allows for a home owner to re-negotiate the terms of their loan to make the home more affordable and prevent foreclosure. The idea behind this is that "banks do not want your home" and never did want it. They only wanted the interest payments you promised to make. If you default on the terms of your loan, they foreclose on you and sell your house in an auction. This, in some cases, either gives the bank a gain or minimizes their losses.

Today, however, there is an entirely new story being painted. Your home is worth less than the money they loaned to you. If they foreclose on you, the banks are bound to lose big. That is why they are gearing up their loan modification departments to begin working with borrowers to keep them in their home.

Here are a few things to consider when attempting to modify your loan:

1. You can try to modify your loan yourself. It will require some patience, some faith, and a decent amount of knowledge. The problem is that banks are in this for themselves. They will try to negotiate a deal with you that best suits them. If you agree, you may never re-negotiate the terms of your loan again.

2. Let a professional negotiate for you. Vigio Lending and Miami Loan Modification are becoming more knowledgeable and experienced in modifying the terms of customer loans. We know the tricks, the limits, and the boundaries of how far banks are willing to go. Ask for too much, and you'll get nowhere. Ask for too little, and you may negotiate new terms that may hurt you in the long run.

3. Get a Forensic Audit on your loan. A forensic audit is an audit performed on your loan documents to ensure that there are no Truth in Lending, RESPA, or predatory lending violations that occurred when you were granted the conditions of your loan. More than 80% of the forensic audits we perform find some violation which we can use to negotiate more favorably on your behalf.

The first step in a Loan Modification is to determine what you can actually afford each month on your mortgage. One of our loan officers will guide you in putting together financial statements that will go into further detail on your income vs. expenses.

Once we determine what you really can afford each month on your mortgage, we'll put together a full and complete package to submit to the Loan Modification department of your bank. We have collected valuable data on each lender giving us phone numbers, representatives, guidelines, and common modifications on each lender.

After the package is submitted, our team will then call your lender on a daily basis to determine if any progress has been made. If we can't seem to negotiate a deal, we'll then use our attorney affiliate to push a little harder. The last resort will become the forensic audit. All three of these items will give us a strong advantage to modify the terms of your loans.

What can you expect from a loan modification if done correctly?

You can expect any of the three results described below. Remember, the goal is to negotiate the BEST terms for our customers. We represent you - they represent the Lender. We fight for you - they fight for their investors.

1. Decreases Interest Rate
The lender can decide to reduce your interest rate. This can be negotiated for a short term or indefinitely. The goal is indefinitely. If your interest rate is variable, they will grant a locked rate.

2. Decrease in the balance of your mortgage
This is the best and most valuable of all options. It is harder to acheive but holds the most value. If we can determine that its better for you to walk away from your home due to its depreciated value, the banks will consider a reduction in principal you owe on your mortgage. We are careful to also make sure this loss is not applied to your 1099.

3. Increase in the term of your Mortgage
If you increase your terms from 30 years to 40 years or 50 years, your payments will decrease. You will be paying your mortgage off for many more years, but at least you will be paying less each month.

In conclusion, if you know how to fight this game, you will guarantee better results. Our goal is to get you all three of the above. The trick is to know your limits. Our team is geared for success in this industry. If done correctly, YOU WIN and the BANK WINS. That makes us happy and we go to bed better at night.

Oh, we forgot to mention the best part. There is a money back guarantee if we don't succeed. If we can't negotiate a better term on your mortgage, we'll give you your hard earned money back.

Thank for reading my post. I wish you all the best in your ventures.

Sincerely,

Moses Nae (moses@vigio.com)
Vigio Lending Corporation
http://www.vigio.com | http://www.MiamiLoanModification.com
Call Toll Free 888-678-4446

Are There Any 30% Down Payment Foreign National Programs Left

In the last year, we've had numerous lenders either go out of business or leave the wholesale industry all together. Well that doesn't seem to be a good thing for us mortgage brokers. Every week more and more of our products are getting discontinued. What next?

We know that foreign nationals are in good shape to buy here in the United States. Usually the currency exchange rate is in their favor, making already super discounted prices even cheaper. Then on top of that you add lender financing and their initial investment capital is reduced to almost nothing.

In the past, it was easy to find lenders that offered foreign national programs which only required 10%-20% down payment. These days, we barely can find any left that do 30%. The norm is often a 50% loan-to-value ratio. There is obviously something wrong with that number. I don't think we can find too many investors who can put up 50% of their investment capital in cash.

We've found a few lenders left who are offering 30% down payment programs for foreign nationals. In one case, we've even found a lender offering 25% down. Since we haven't yet submitted to that lender, we can't tell you if they are real or not.

Here are some benefits you can offer to Foreign Nationals:

• Government supports foreign investments
• Various Tax Breaks to Encourage Foreign Investment
• Increase and/or Establish Credit Worthiness in the US
• Availability of Mortgage Financing
• Financial Leverage using US Financing Institutions

So if you know of any lenders that offer some better, please let us know. We have a decent incoming customer base of foreigners and we would love to help them invest more in our country.

Thanks,

Vigio Lending Corporation
http://vigio.com