Foreclosure Bailout Program that is available in NJ

[mwgreco]

Hello everyone, some of you might find this of use... There is a Foreclosure Bailout Program in New Jersey that is available to people who are in foreclosure.. The parameters of the loan are as follows: The max LTV is 70% which means you need to have at least 30% equity in the home.. Stated income is ok and Your credit score dosn't matter... The interest rate you will get is 12.99% and the lender gets 1 point... Once you make 12 ontime payments you can refinance into a normal program with a normal interest rate... Just thought some of you would want to know this program exists.. It is available in some other states.. You can email me if you want to know a specific state.. Thank you, Michael

[mark]

What a deal! and you only have to have 30% equity. Stated income OK! The lower the better right. No chance you will make 12 on time payments is there since you can't afford the ones you have. Just think if you had no equity you might have to get an interest reduction. We wouldn't want that to happen would we? Bloodsuckers!

[mwgreco]

Think of it a different way Mark

Mark, Some people are in foreclosure because of a temp. Problem.. Perhaps they were ill, perhaps they got laid off.. There are lots of reasons.. This program is good because it allows them instead of having to pay several thousand at one time to catch up on the mortgage, It allows them to start off all over again so they can repair the mortgage history.... You need to be a little more open minded... Not everyone is in the same postion as you...

What a deal! and you only have to have 30% equity. Stated income OK! The lower the better right. No chance you will make 12 on time payments is there since you can't afford the ones you have. Just think if you had no equity you might have to get an interest reduction. We wouldn't want that to happen would we? Bloodsuckers!

[Minnymouth]

MARK - GET AN ATTITUDE ADJUSTMENT!!!!

People in the this forum are here to support and help, not listen to sarcastic remarks.
You have your problems, so do others.
There may be many that are glad they have this option open to them......
Nobody said BK was easy to go thru, so don't HELP make it more difficult than it already is.
CHILL OUT DUDE,
MINNYMOUTH