Todays Mortgage Rates

Todays Fixed Rate Mortgage
Current mortgage rates are much more attractive than I can ever recall. A qualified borrower may now be able to obtain a 30 year fixed rate mortgage for less than 5%. Todays rate is an incredible 4.87%. It's amazing.

Anyone with any type of adjustable rate mortgage taken years back should be taking a hard look into reducing or solidifying that mortgage payment for the long term. Considering that many of us will now be forced to remain in our current homes for many years to come a low fixed rate mortgage makes sense. Selling a home today is difficult. Market prices are below what most are willing or even able to accept. Homes selling are either foreclosed properties being discounted by lenders or short sale properties with a lenders agreement to accept less than what they are owed on the current mortgage. These sales make todays market and consequently todays market price. Buyers willing to take advantage of todays rates and prices are looking to foreclosed homes first. Unless a private seller is able to compete with these market prices thier home understandably will not sell.

Alternatively a homeowner may consider a loan modification. Many lenders today are willing to reduce the interest and monthly payments on mortgages that they currently hold in order to keep a good borrower in that home. A loan modification makes sense if your mortgage is higher than the market price of your home. In other words, as a result of the decline in home values and your lenders overzealous lending practices in the past, you are upside down in your home mortgage. Loan modification and refinance require similar documentation although they are completely different. For example with a refinance you can shop for a new rate, term and lender. A loan modification must be negotiated and provided by your current lender. In a modification the lender decides what to offer you, if anything and you than have some time to decide if you'll accept the newly presented terms. If you choose to accept, a new payment plan will begin on a predetermined date. Rarely will a lender reduce the principal amount owed on a loan. More likely the rate is lowered below current fixed rates for a period of 3 or 5 years reducing the monthly payment accordingly.

Refinancing until the market mends may be the best next step. A new fixed rate loan at todays historically low rates may reduce your present or future monthly payments considerably. The monthly savings on a $100,000 mortgage at 7% refinanced to 5% is approximately $125 monthly. On a $200,000 mortgage the savings is $257 monthly. That's more than $3000. a year. If you were to invest that same $3000 recieving a nominal 3% annual return will give you approximately $16,400 after 5 years. That makes sense. Lowering monthly payments in order to save money in a very tough economy is not just good, it's a giant step in the right direction.

Call me directly with any questions you have on refinancing, buying or selling a home, loan modification, or current mortgage rates and terms. I'll be glad to help. 561-306-6736.

Loan Modification & Credit Solutions

Is your property worth less than your mortgage?

Are you having difficulties keeping up with your mortgage payments? Are you carrying high credit card and other unsecured debt? Has your credit score been hurt as a result? Many of us today can answer yes to at least one of these questions and some are facing all of these problems with little or no help.

What if you could lower your mortgage payment to an affordable level? Would you take advantage of an opportunity to reduce the prinipal on your loan or to lower the interest rate?

If you could improve your credit score to a credit rating that you would find acceptable and beneficial would you?

If you could renegotiate most of your credit cards and debt would you?

The answer to these questions is obvious. Of course you would, we all would and with todays credit solutions now we can. As part of our committment to providing "Simply Better" client services GES Real Estate is offering the following additional services:

- Loan Modifications (reduce your payments and keep your home)

- Short Loan Refinance (refinance to a lower affordable mortgage)

- Short Sale Mitigation (sell your property for less than you owe)

- Deed in Lieu of Foreclosure (avoid foreclosure and further obligations)

- FICO Enhancement (quickly and effectively improve your credit score)

- Debt Settlement (free up cash and reduce your credit card debt 50% or more)

GES Real Estate together with a network of attorneys and credit specialists with many years of experience in the credit markets is able to offer any or all of these services designed to help clients emerge from very difficult times with a much stronger more positive financial position while enjoying immediate relief from the financial pressures and uncertainties they now face.

We have all the tools necessary to help in these very trying times. Here are some answers to commonly asked questions regarding Loan Modification:

- You do not have to be late to negotiate a modification or short sale

- Option ARM and negative amortization loans are negotiable

- Non owner occupied homes are negotiable as are duplex etc.

- Rates can be negotiated lower than normal or par

- Terms can be extended beyond 30 years

A loan modification can consist of any or all of the following;

A. Rate lock (i.e. 3 yr fixed, 5 yr fixed, 30 yr fixed)

B. Rate reduction (ie.7.25% to 5.5%, 5.95% to 3.25%, 11. % to 6.5%)

C. term extension (ie.15yr term to 30yr term, 30yr term to 40yr term)

D. Principal Reduction

If you or anyone you know need to lower your mortgage payments to an amount that you can realistically afford, improve your credit score or settle your unsecured debt please call 561-306-6736 or 877-566-2430 or email me at rebuygeorge@yahoo.com for a private consultation.