Can it be TRUE? Principal Reduction: Upside-down Mortgages Reduced to Market Value

The Relief You Have Been Waiting For ...Where is the hidden Agenda?



HOME OWNER MORTGAGE RESTRUCTURING (HOMR) Program



The HOMR reduces the principal balance of an upside down mortgage to current market value. This is NOT a loan modification, it's NOT a shortsale... it is a TRUE principal reduction where the homeowner stays in their home and never relinquishes ownership. If the home is only worth $100k in today's market, the principal is reduced to $100k. Thousands of homeowners need this service and IFI is now looking for agents, brokers, and Marketing Associates to offer it to them.



How does the Home Owner Mortgage Restructuring (HOMR) principal reduction program work?
 How is it different from a short sale or a loan modification?



Investors Finance, Inc (IFI), a private lender since1960, negotiates with the bank to buy your note from them at a very reduced rate. Once the bank accepts IFI's offer, the homeowner will receive new mortgage details for a 30 year fixed mortgage from IFI and have 72 hours to review them. Once the homeowner accepts the new mortgage, their new note holder will be IFI and they will pay IFI as they had previously paid the bank. In a short sale the homeowner sells his/her home to someone else and has to move. With the HOMR program, the homeowner stays on the title and never relinquishes ownership. A loan modification rarely ever reduces the principal balance. Most likely a loan modification would lower the interest rate, lengthen the duration of the mortgage, and leave the homeowner with a principal balance that is far more than the house is worth. Loan modifications are a bandaid where as the HOMR is a true solution. In the HOMR program the homeowner's monthly payment is often lowered and the principal balance of the mortgage is reset to market value. Because there is no balloon or prepayment penalty in the HOMR program, the homeowner can refinance at any time or have a better chance at conducting a conventional sale if they choose to.



Regardless of how upside down a mortgage is or how far behind the homeowner is in their present payments, IFI can help. Homeowners can qualify for this program REGARDLESS of * Credit Score * Payment History * Foreclosure * Bankruptcy * Repossessions * Judgments * Liens.


Could this be the relief that homeowners have been waiting for? or another modification scandal?