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These days lots of folks are considering mortgage refinancing as a consequence of these challenging financial times.

There are a lot of home refinancing plans so be sure shop around before you make a decision. Check the posts here for more information

With millions of Americans “underwater” on their mortgages and millions of homes facing foreclosure, President Obama unveiled a revamped home-loan refinancing program Monday during a stop in Nevada, which has the country’s highest foreclosure rate. Judy Woodruff and guests examine the politics and substance of the plan.

Never the less refinancing can be a wise course of action both in bad and good financial times. It is very important to be aware of issues needed for refinancing, when it can be useful and all you absolutely need avoiding. This is often a little complex if you're having their first go at it but the material you'll find here can help.

These days nearly everybody are looking at changing a mortgage thanks to these difficult financial times.

There are a lot of refinancing solutions so make certain shop around before you make a decision. Check the posts here for more information

Brookstone Law, PC: Obama’s Housing Plan Is a Red Flag for Homeowners Seeking Relief

Newport Beach, CA (PRWEB) November 05, 2011

Although the Obama administration’s recent efforts to help homeowners could bring relief to millions who owe more than their homes are worth, the measures being considered by Washington are clearly designed to benefit banks more than homeowners, according to Vito Torchia, Jr., managing attorney of Brookstone Law, PC.

“The President’s proposal is purely political and will probably boost spending more than avert foreclosures. He intends to placate the Banks at the expense of homeowners who clearly need loan modifications, which banks have been reluctant to provide,” said Vito Torchia, Jr.

According to media coverage, the collapse of the housing market has left an estimated 11 million Americans owing more on their mortgages than their homes are worth. Although about 70% of those borrowers have loans with interest rates higher than are available today, their lack of collateral prevents them from refinancing into new, more affordable loans.

“It is becoming increasingly obvious that homeowners without expert legal counsel are going to have to deal directly with banks that are empowered by the government to offer solutions not likely to give homeowners what they need,” said Vito Torchia, Jr.

Recent media coverage shows that although a reduction in monthly payments could prevent some homeowners who aren’t in default today from going into foreclosure, experts expect an estimated 2.2 million borrowers to lose their homes in 2012.

“If the President’s plan is intended to help homeowners who are under water, helping the Banks while pushing more than two million people over the cliff is clearly the wrong way to do it,” said Vito Torchia, Jr.

According to media coverage, lenders could cut their losses significantly by modifying mortgages to lower the monthly payments of defaulting borrowers, but Banks are doing so because it lowers their bottom line profits.

“There’s no shortage of homeowners whose property values and incomes have collapsed through no fault of their own while lenders claim there is a moral problem in bailing out borrowers who can’t pay off their debts. This is ludicrous considering the Bank’s pushing of toxic loans, then consistently victimizing hardworking people throughout the country trying to keep their homes as has been well documented in the media,” said Vito Torchia, Jr. “This clearly shows the Banks don’t care about consumers, who must have effective counsel in order to protect their rights when dealing with the Banks.”

Recent media coverage has included reports that FannieMae, FreddieMac and most national banks have refused to participate in a California program that offers to pay half the cost of principal reductions for lower- and moderate-income homeowners with a demonstrable hardship, such as a severe illness or a layoff.

“If they won’t help low income homeowners with hardships, it is obvious they won’t help other homeowners suffering from the toxic loans, lack of due diligence and wrongful foreclosures for which the banks are initially responsible,” said Vito Torchia, Jr. “Homeowners trying to save their homes are at greater risk than ever of not being able to fix the problems caused by the banks that threaten them with the loss of their homes.”

According to media coverage, state prosecutors from around the nation are pursuing mortgage fraud claims against the major banks and may persuade them to commit billions of dollars to writing off some of the debt owed by borrowers.

“Fannie and Freddie, which have already been rescued by Washington, need to help homeowners under water, but if their consistent leaning towards a solution that benefits the banks at the further expense of homeowners continues the victimization of millions of people in our country who are just trying to keep their homes,” said Vito Torchia, Jr.

ABOUT BROOKSTONE LAW, PC

Headquartered in Newport Beach, Calif., and with offices in Los Angeles, Calif., and Ft. Lauderdale, Fla., Brookstone Law, PC is a law firm comprised of attorneys with experience and success in business, corporate and personal finance, employment, entertainment and media, art and museum, intellectual property and real estate law. The firm has a network of more than 40 affiliate attorneys nationwide and employs highly trained specialists, paralegals, paraprofessionals and administrative staff dedicated to serving clients. For information, call (800) 946-8655 or visit Brookstone Law.com (http://www.brookstonelaw.com).

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

But the truth is refinancing could actually be a wise course of action in both bad and good financial times. It is crucial to be aware of issues associated with re-financing, when it can help plus all you definitely should try to avoid. This can be a little confusing for anyone new to it but the details you can get here should help.

These days many of us are planning on refinancing as a result of these trying times.

There are plenty of home refinancing possibilities so make certain shop around before you commit. The information you find here should help

Quicken Loans Joins Stewart-Haas Racing

Detroit, MI (PRWEB) November 01, 2011

Quicken Loans Inc., the nation’s largest online retail mortgage lender, has formed a partnership with Stewart-Haas Racing (SHR), the NASCAR Sprint Cup Series team co-owned by two-time series champion Tony Stewart and Gene Haas.

Quicken Loans will be the primary sponsor of SHR’s No. 39 team and driver Ryan Newman for nine races in 2012, and when not serving as a primary sponsor, will be an associate sponsor. Additionally, Quicken Loans will be an associate sponsor on the No. 14 Office Depot/Mobil 1 Chevrolet Impala of Stewart throughout the 2012 Sprint Cup season.

To kick off this partnership, Newman and the No. 39 team will carry a special paint scheme to highlight the upcoming Quicken Loans Carrier Classic during this weekend’s Sprint Cup event at Texas Motor Speedway in Fort Worth.

The Quicken Loans Carrier Classic pits the No. 1 North Carolina Tarheels against the Michigan State Spartans in an unprecedented season-opener to the NCAA Division 1 Men’s Basketball schedule, as the game will be played on the flight deck of the U.S.S. Carl Vinson on Nov. 11, 2011 – Veterans Day. The game will be held at Naval Base Coronado in the San Diego Harbor in front of 7,000 military personnel and spectators while being televised live on ESPN at 7 p.m. EST/4 p.m. PST.

“As a company that prides itself on the speed and ease of its loan process, it only made sense for Quicken Loans to partner with NASCAR – a sport built around amazingly fast cars and extremely talented drivers,” said Jay Farner, president and chief marketing officer of Quicken Loans. “More than just sponsoring Ryan Newman, we’ve found a perfect partner in Stewart-Haas Racing. Right from the first conversation with them, we knew we had found a team as driven to amaze as we are.”

Quicken Loans will share space on the No. 39 Chevrolet Impala with the U.S. Army, which has sponsored Newman since the inception of SHR in 2009.

“It’s an absolute pleasure to share the No. 39 car with the U.S. Army,” Farner added. “We’re one of the nation’s largest VA mortgage providers and a company that appreciates the selfless sacrifices our military make for us every day. It is why we are the title sponsor of the Quicken Loans Carrier Classic and why we’re leveraging the NASCAR Sprint Cup Series race at Texas Motor Speedway to promote this one-of-a-kind experience on the flight deck of the U.S.S. Carl Vinson.”

Newman, winner of 15 Sprint Cup races, including the 2008 Daytona 500, will carry Quicken Loans branding this weekend at Texas and during the 2012 Sprint Cup season.

“It’s an honor to represent the U.S. Army and it’s great to have Quicken Loans join our team, because now we can do even more to help active Soldiers and veterans alike,” said Newman, winner of the 2003 Sprint Cup race at Texas. “There’s such a parallel between what we do in NASCAR and what our Soldiers do. They go to battle, and their only goal is to win. To partner with a company as engaged with the military as SHR is something that makes us all very proud.”

This year, Quicken Loans will improve the financial situation of nearly 150,000 American families and more than 11,000 active and retired military clients by providing assistance in purchasing or refinancing their homes.

“We’re very proud to partner with Quicken Loans,” said Stewart, who in his three years as a Sprint Cup team owner has qualified for the Chase for the Sprint Cup each time while scoring nine of his 42 career Sprint Cup victories. “They’re new to the sport and we aim to make their entry into NASCAR a positive one that will grow their business, and ultimately, grow their involvement within the sport and Stewart-Haas Racing.”

In honor of Veterans Day and the millions of people who have served in the Armed Forces, Quicken Loans recently made a 1,111 (Veterans Day falls on November 11, 2011) donation to the Navy-Marine Corps Relief Society, which provides financial, educational and other assistance to members of the Naval Services, family members and survivors. For more information, please visit http://www.QuickenLoansCarrierClassic.com.

About Rock Holdings Inc.:

Rock Holdings Inc. is the parent company for several financial services related businesses and employs more than 4,000 team members. These client-focused and technologically-driven companies include Quicken Loans, the nation’s largest online home lender and One Reverse Mortgage unit, the fastest growing reverse mortgage lender in America; Title Source, a nationwide leader of title insurance, property valuations and settlement services; Quicken Loans Mortgage Services (QLMS), a mortgage origination platform servicing community banks and credit unions across the country; In-House Realty, the preferred real estate partner of Quicken Loans that matches clients with trusted real estate agents in all 50 states; and, Quizzle.com, the online innovator and website where consumers manage their home, money and credit. Rock Holdings Inc., also recently moved its headquarters to downtown Detroit.

About Quicken Loans, Inc.:

Quicken Loans Inc. is the nation’s largest online retail mortgage lender and among the five largest overall retail home lenders in the United States. The company closed a record billion in retail home loan volume across all 50 states in 2010, and closed its 1 millionth loan. Quicken Loans generates loan production from five Web centers located in Detroit, Ohio and Arizona. The company also operates a centralized loan processing facility in Detroit as well as its San Diego-based One Reverse Mortgage unit. “QuickenLoans.com” has been named “Best of the Web” by Forbes and Money magazines. The company also has been named to FORTUNE magazine’s list of the country’s “100 Best Companies To Work For” eight consecutive years, ranking as high as No. 2, and named in the Top-15 of Computerworld magazine’s “100 Best Places to Work In Technology” for six years in a row. Quicken Loans ranked No. 1 in the Detroit Free Press’ ‘Top Workplaces of 2010’ List. Last year, the company moved its headquarters and 1,700 of its 3,700 full-time team members to downtown Detroit. For more information about Quicken Loans, visit http://www.QuickenLoans.com.

About Stewart-Haas Racing:

Stewart-Haas Racing is the NASCAR Sprint Cup Series team co-owned by two-time Sprint Cup champion Tony Stewart and Gene Haas, founder of Haas Automation – the largest CNC machine tool builder in the western world. The team fields two entries in the elite Sprint Cup Series – the No. 14 Office Depot/Mobil 1 Chevrolet Impala for Stewart and the No. 39 U.S. Army/Tornados/Haas Automation Chevrolet Impala for 2008 Daytona 500 winner Ryan Newman. Based in Kannapolis, N.C., Stewart-Haas Racing operates out of a 140,000-square-foot facility with more than 150 employees. For more information, please visit us on the Web at http://www.StewartHaasRacing.com, on Facebook at http://www.facebook.com/StewartHaasRacing and on Twitter at @StewartHaasRcng.

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Related Home Refinancing Press Releases

However refinancing can be a wise course of action in both negative and positive financial times. It's important to be familiar with issues needed for refinancing, when it can be useful in addition to whatever you absolutely need to avoid. This is often a little confusing for anyone who is new to it but the particulars you'll find here will help.

At this moment a lot of us are thinking about changing a mortgage as a result of the trying times.

There are many of home refinancing remedies so you should definitely do your research before you decide to make a decision. We hope this site helps you make the best decision for you

National Mortgage Complaint Center Warns Homeowners About Mortgage Refinance Scams & Explains How Homeowners About To Refinance Can Save Money

(PRWEB) November 01, 2011

The National Mortgage Complaint Center is urging homeowners thinking about refinancing their home to not fall for a slick radio, or Internet advertisement offering interest rates that do not exist. The group says, “As we write this press release we are looking at a phoney Internet pop up ad that says, quote en quote Mortgage Rates hit 2.6%. Its not a 30 year fixed interest rate, and we think this is misleading. If a homeowner wants to see what the current best interest rates are nationwide, Google American Interbanc, go to their web site, and click on their rate page. We have endorsed this company five years in a row, and while they may not lend in your state, their rate sheet will give you an accurate picture of national mortgage interest rates.” http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center is also urging homeowners about to refinance their mortgage to reuse their existing title insurance company, because most states require title insurance companies to offer what is called a reissue title insurance rate, at a significant discount. What this all translates into hundreds of dollars in savings to an average homeowner, about to refinance their home loan. http://NationalMortgageComplaintCenter.Com

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Attachments

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Find More Home Refinancing Press Releases

But the truth is refinancing could actually be a great idea in both negative and positive real estate markets. It is crucial to pay attention to issues associated with re-financing, when it might be useful as well as what you need to look out for. This is always a little challenging if you are new at all to it but the important information you will discover below will assist.