On Time Payments Under 660 Score Stated

[Administrator]

Im wondering if there is giong to be a facelift for the stated loan product. Im not talking about the people who have defaulted or anything like that as much as im talking about the people who have 625 scores, 80 ltv or a bit higher, and were never late on anything in the past 5 years! There is no helping these people right now. Ive come accross my fair share of people who are stated borrowers who were put into adjustable rates a few years ago. the loans are now adjusting and there nothing we can do. doesnt matter if they pay their bills every month, make a million dollars, nothing. i hope someone takes a look at this soon and tries to fix it. at least for the ontime bill payer who just didnt know this was giong to happen... also fannie mae and freddie fell short on expectations for jumbo loans... could it be that 40% of all jumbo paper is stated or was stated? we have a serious problem here helping these people. does anyone have a lender left that will help or does anyone know of any relief in sight for this situation. its killing people...


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(Source: mortgagefit.com)