True story of a Short Payoff Refinance

This a story about a family in Illinois. The case is not unique because all over the country, property values have taken a nose dive. Many responsible home owners are burdened by legacy mortgage rates and balances. Unable to sell or refinance, they continue to fork out thousands of dollars every month knowing that what they are paying for is not worth it.

These underwater or upside down home owners, many of them do not have Fannie or Freddie mortgages or exceed the 125% loan-to-value to qualify for the Making Home Affordable, are left to fend for themselves.

Let's return to the story.
This family was carrying two Adjustable Rate Mortgages on their home. Combined, the balance was $450,000. When the mortgages adjusted late last year, their two payments simply doubled. They were now paying a cool $4,605 every month! They contacted their lender who had both the first and second mortgages to modify the terms of those loans so they can afford them. The lender denied their request in three separate occasions! This was to be expected; why bother when the payments are automatically debited every month?

When I was contacted by the family, I introduced them to a service that I have pioneered called the SHORT PAYOFF REFINANCE.
Never heard of it I was told, is it a scam like so many out there, a loan modification or what?

Well, the SHORT PAYOFF REFINANCE is actually two transactions:
First transaction: negotiation of a principal reduction. (short payoff)
Second transaction: refinance. (getting a new loan under new terms)
As I said earlier, the combined mortgage balance was $450,000. The appraisal that we ordered for the refinance came at $400,000, that's $50,000 less than the family owed! Where do we go from here?
Again using our skills, we were able to get the family approved for a refinance based on 95% of the appraised value or $380,000. We then contacted the lender and offered to pay him with the proceeds from the refinance minus the closing costs. After a few rounds of offers and counter-offers, the lender agreed to take $370,000 and pay the closing costs!

Here is the final outcome: on June 12, 2009, the refinancing funded. two wires totaling $370,000 were sent to the old lender, the family received a brand new FIXED mortgage. Their new payment set to begin August 1, 2009 is $2,855, taxes and insurance included. As a bonus, the family has 5% equity in their home!
The whole rescue operation was done without government intervention, expensive Lawyer's fees or litigation.

This story shows that those home owners who are underwater but keep paying their mortgages stand a very good chance of getting relief, it's all about finding the right person to guide them through. I am that person, my service is unique, in fact it is a proprietary product that cannot be found anywhere else.
My advice to you is simple: I will do for you what I did for this family. Call me today at 773-551-7255 or apply online at www.p2funding.com