Loan Modification Forum - LoanSafe.org - View Single Post

Moe Bedard · 03-19-2009, 09:25 PM

Hi Melanie702,

Welcome to the forum and thank you for joining..........

What Ginnie Mae does is guarantee investors the timely payment of principal and interest on MBS (Mortgage Backed Securities) backed by federally insured or guaranteed loans mainly loans insured by the FHA or VA. So the FHA would be the one approving a modification workout.............the options with an FHA loan for modification are limited.........going through the servicer.

If this is the only property that you own.........you may be able to get a more affordable workout using the HUD approved counseling agency NACA......their services for the Home Save modification program are free............and we have had many recent low fixed rate modification successes through NACA and CW.
here is the link for the info.........
https://www.naca.com/refinance/refinanceTenStep.jsp

03-19-2009, 09:25 PM	#2 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	re: FHA/NACA In Las Vegas Hi Melanie702, Welcome to the forum and thank you for joining.......... What Ginnie Mae does is guarantee investors the timely payment of principal and interest on MBS (Mortgage Backed Securities) backed by federally insured or guaranteed loans mainly loans insured by the FHA or VA. So the FHA would be the one approving a modification workout.............the options with an FHA loan for modification are limited.........going through the servicer. If this is the only property that you own.........you may be able to get a more affordable workout using the HUD approved counseling agency NACA......their services for the Home Save modification program are free............and we have had many recent low fixed rate modification successes through NACA and CW. here is the link for the info......... https://www.naca.com/refinance/refinanceTenStep.jsp __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.