There is hope for homeowners with underwater mortgages. Freedom USA Investing from Fargo, North Dakota has a new program which will lower the principle amount of the mortgage and create equity into an upside down mortgage.
The every growing housing market crash has left millions of people owing more than the property is worth. One company has taking on this challenge and has found a solution for homeowners in this situation. Freedom USA Investing has a program which will turn the upside down mortgage with no equity into a property with equity once again.
Underwater mortgage homeowners are struggling to find help. The HARP and the HAMP government programs are too restrictive and many homeowners are unable to qualify. Homeowners have tried to talk with their banks; however, the banks are less responsive to making any modifications to loans causing homeowners to be frustrated with no options available. Homeowners are forced to consider a short sale, foreclosure, walking away, bankruptcy, and other options that will have them move from their house and cause damage to their credit.
Freedom USA Investing’s program has them contacting the mortgage loan bank to negotiate a purchase of the loan at a discount. Once the loan is purchased at a discount, they restructure the loan and have the homeowner refinance the mortgage loan from them at a discounted amount, creating the equity. The homeowner now has a mortgage lower than the properties worth. A homeowner’s credit score is not affected negatively with this program. In some cases it has increased the homeowner’s credit score due to the lower debt-to-income ratio.
Freedom USA Investing’s hours are Monday through Friday 9am-5pm. For more information about this program please go to their website: www.refinanceunderwatermortgagehelp.com