3 things you should watch out for when shopping for home-finance products on the Internet revealed by West Palm Beach Florida Mortgage Broker Christian Penner 561-373-0987.

West Palm Beach, FL -- (SBWIRE) -- 05/10/2013 -- 3 Things Lenders Don't Want You to Know About Shopping for a Mortgage Online Revealed by West Palm Beach Florida Mortgage Broker

Anyone who's even remotely interested in shopping for a home mortgage loan has probably paid attention to all those commercials on TV touting the ease of using any of a variety of Internet services to compare mortgage offers from the comfort of your home. You may even have tried a couple of them yourself. But Christian Penner 561-373-0987, a West Palm Beach Mortgage Banker, says West Palm Beach, Florida residents need to watch out when trying to use the Internet to do the heavy lifting for them.

Christian Penner 561-373-0987 says the problem with these services is that they never really get to know anything about your financial situation other than your credit history and income level. "So basically what winds up happening is that you're reduced to a number to them. And if they don't like whatever that number is, you're out of luck."

"Sometimes, these Internet services might work fairly well for certain people." "But the one-size-fits-all approach they offer is going to leave a lot of people with loans that aren't the best for them, or even worse, they may be shut out of the process altogether."

Here are three things you should watch out for when shopping for a Home Mortgage Loan on the Internet – things most online mortgage sites hope you ignore:

- What do they offer people in special financial circumstances – such as the self-employed or people with damaged credit? Most of these sites don't even want to work with you unless you meet their stringent criteria.

- Do they take the time to find out about your unique situation, or are you just a cyber-borrower in their eyes? Most of these sites simply don't have the manpower to individually work with every borrower. So a lot of times you wind up with a bad loan simply because there was no one to check if they could have gotten you a better deal.

- Do they provide advice to help when choosing between loan products? Most sites simply gather offers, throw them in your lap, and pressure you to choose between them. Unless you're a pretty experienced mortgage pro, deciding on the best offer can be difficult, if not impossible.

West Palm Beach Florida - based Mortgage Broker Expert Christian Penner 561-373-0987 specializes in providing information to Florida residents that allows them to make informed decisions about their Mortgage Financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

So, what's the solution? Use the Internet to educate yourself and then work with a real human being. You may not have thought about "old-fashioned" methods of finding the best deal, such as working with a mortgage broker. "But for anyone who values a real person sitting down with you and working through the process, there's no better option," says Penner 561-373-0987.

Christian Penner, Mortgage Broker Florida is available for FREE consultation and will welcome all your mortgage related questions.

Call 561-373-0987 for your Free No-Obligation Consultation or visit:

Christian Penner Mortgage Banker
Christian@YourMortgageSolutionsNow.com
561-373-0987
http://ChristianPenner.com
http://YourMortgageSolutionsNow.com
http://VAMortgageCompanyFlorida.info
http://HarpMortgageCompany.com
http://FHAMortgageSolutions.us
777 S Flagler Dr. #800
West Palm Beach, FL 33401

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Finally Real help For Florida homeowners, with a FHA Mortgage Loan, is now available through the new FHA Streamline Refinance Program.

West Palm Beach, FL -- (SBWIRE) -- 08/15/2012 -- Florida Mortgage Banker, Christian Penner 561-373-0987 has finally announced the release of the FHA Streamline Refinance program which can really help struggling local homeowners since qualifying for this program is easier than ever.

Many homeowners have become weary after years of promises that real help was on the way which would make their mortgage payments more affordable and enable them to avoid falling into foreclosure. However, until now initiative after initiative seemed unable to provide real assistance to property owners with FHA Home Mortgage Loans.

HARP 2.0 delivered relief for some homeowners, but only for those with mortgages backed by Fannie Mae or Freddie Mac.

Thankfully, a real effort has been made to assist Florida borrowers with FHA mortgages to reduce their monthly payments and take advantage of low interest rates.

This now means there are no appraisals being required to qualify so being underwater or upside down on their mortgage will not prevent homeowners from refinancing. The FHA has also announced that it is waiving the necessity for credit reports and income verification to enable more Florida homeowners to qualify. However, it is important to note that individual mortgage lenders all have their own underwriting guidelines which may mean some income verification is needed as well as a credit check but most will still be far more lenient than trying to get approved for any conventional home loan today.

What is really different about the new FHA Streamline refinance program is the reduction in mortgage insurance for those who had their loans endorsed on or before May 31st, 2009. Until now, recent rate increases had eliminated much of the savings for those attempting to refinance or meant they had to bring cash to closing. Now 'no-cost' refinancing is available and that coupled with lower mortgage insurance rates can equal thousands of dollars in savings.

When asked about the new FHA streamline program benefits: http://FHAMortgageWestPalmBeach.com/ Christian Penner 561-373-0987 West Palm Beach Mortgage Banker said "This program finally delivers really substantial savings to underwater homeowners and anyone with an FHA loan who has not refinanced in the last six months should seriously consider this option, even if turned down before".

Those interested in finding out more about the FHA Streamline Refinance Program or would like to see if they qualify can discover more details on eligibility and receive a customized rate quote by visiting http://YourMortgageSolutionsNow.com/FHA_Streamline_Quote_Form.htm

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

West Palm Beach Mortgage Broker Christian Penner 561-373-0987 reveals 3 things you should watch out for when shopping for home-finance products on the Internet.

West Palm Beach, FL -- (SBWIRE) -- 07/26/2012 -- West Palm Beach Mortgage Broker Reveals 3 Things Lenders Don't Want You to Know About Shopping for a Mortgage Online

Anyone who's even remotely interested in shopping for a home loan has probably paid attention to all those commercials on TV touting the ease of using any of a variety of Internet services to compare mortgage offers from the comfort of your home. You may even have tried a couple of them yourself. But Christian Penner 561-373-0987, a Loan Officer with Christian Penner Mortgage Banker, says Jupiter, Florida residents need to watch out when trying to use the Internet to do the heavy lifting for them.

"Sometimes, these Internet services might work fairly well for certain people." "But the one-size-fits-all approach they offer is going to leave a lot of people with loans that aren't the best for them, or even worse, they may be shut out of the process altogether."

Christian Penner 561-373-0987 says the problem with these services is that they never really get to know anything about your financial situation other than your credit history and income level. "So basically what winds up happening is that you're reduced to a number to them. And if they don't like whatever that number is, you're out of luck."

Here are three things you should watch out for when shopping for home-finance products on the Internet – things most online mortgage sites hope you ignore:

*Do they take the time to find out about your unique situation, or are you just a cyber-borrower in their eyes? Most of these sites simply don't have the manpower to individually work with every borrower. So a lot of times you wind up with a bad loan simply because there was no one to check if they could have gotten you a better deal.

*What do they offer people in special financial circumstances – such as the self-employed or people with damaged credit? Most of these sites don't even want to work with you unless you meet their stringent criteria.

*Do they provide advice to help when choosing between loan products? Most sites simply gather offers, throw them in your lap, and pressure you to choose between them. Unless you're a pretty experienced mortgage pro, deciding on the best offer can be difficult, if not impossible.

So, what's the solution? Use the Internet to educate yourself and then work with a real human being. You may not have thought about "old-fashioned" methods of finding the best deal, such as working with a mortgage broker. "But for anyone who values a real person sitting down with you and working through the process, there's no better option," says Penner 561-373-0987.

West Palm Beach, Florida - based mortgage expert Christian Penner 561-373-0987 specializes in providing information to Florida residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Christian Penner 561-373-0987 is available for interviews and will welcome all your mortgage related questions.

Call 561-373-0987 for a Free No-Obligation Consultation or visit:

http://YourMortgageSolutionsNow.com or
my Blog at: http://www.ChristianPenner.com

Christian Penner, Mortgage Broker West Palm Beach talks about Real Estate West Palm Beach Florida. He serves the entire State of Florida but has a focus in South Florida as well as other Local Areas and provides home Mortgage Solutions for most of South Florida, Palm Beach Gardens, Jupiter, Boca Raton, Tequesta, Stuart, Wellington, Fort Lauderdale and Miami. Christian Penner Mortgage Broker Jupiter has the lowest mortgage rates and the best home mortgage programs like; Jumbo loans, FHA Home Loans, VA Home Loans, Reverse Mortgage Home Loans, Freddie Mac Home Loans, Fannie Mae Home Loans and HARP Mortgage Loans. Christian Penner Mortgage Banker Palm Beach Gardens has Served the area for over 15 years with his Home Loan Lending Needs and Works with FEMBI Mortgage. You Can Also Find Him On Facebook at: http://Facebook.com/YourMortgageBanker

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Updated HARP 2.0 Government Mortgage Refinance Program provides refinancing options to Florida homeowners who are living under negative equity by allowing them to refinance at lower interest rates.

West Palm Beach, FL -- (SBWIRE) -- 07/20/2012 -- In October 2011, Fannie Mae and Freddie Mac along with the Federal Housing Finance Agency (FHFA) announced modifications to the Home Affordable Refinance Program to make it easier for lenders to refinance mortgages in Florida that are HARP Eligible.

The Home Affordable Refinance Program is a financial aid program announced by the US federal government in 2009 to help millions of homeowners who are either near-underwater or underwater (means you have zero - or even negative - equity in your home) to refinance into a fixed loan with lower monthly payments.

With the changes announced to the HARP eligibility guidelines (now called HARP 2.0), more and more homeowners are now eligible to refinance at lower interest rates.

The elimination of the 125% loan-to-value for fixed rate Freddie Mac or Fannie Mae mortgages and the exclusion of appraisals for new properties where there is already a reliable Automated Valuation Model or AVM are two such major changes that help make more people eligible.

The goal of the newly modified HARP 2.0 Program is to help stabilize the real estate market and encourage more people to buy homes on loans.

You May Be Eligible For A HARP Refinance If:

1) Fannie Mae or Freddie Mac owned or guaranteed your home loan.

2) Your loan was sold to Fannie Mae or Freddie Mac before May 31, 2009.

3) Your mortgage has not already been refinanced through HARP in the past, unless it happens to be a Fannie Mae loan that underwent a HARP refinance between March and May 2009.

4) You owe more than your home is worth, or is there minimal equity in your home.

5) You have been current on your mortgage for the last six months.

6) You have no more than one late payment over the past 12 months.

7) Your loan is not a USDA, FHA or Jumbo Mortgage.

Call Christian Penner 561-373-0987 at or visit our HARP Refinance Center and fill out our Quick 1 Step Eligibility Form to see if you qualify for this new program.

For Answers to Your HARP Questions: http://harprefinanceflorida.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Florida Refinancing Expert Christian Penner 561-373-0987 explains all about the revamped government program that provides refinancing options to homeowners who owe more on their mortgage that their house it worth called HARP 2.0.

West Palm Beach, FL -- (ReleaseWire) -- 05/03/2012 -- Help has finally arrived for Florida Home Owners whose property values have dropped over the past couple of years. In order to lower costs of Mortgage installments today and get a good fixed rate plan underway for repayment, many people are turning to the Home Affordable Refinance Program (HARP or HARP 2.0), also known as the Making Home Affordable Program.

However, as new information appears on government sites, people are finding the documentation to be lengthy and somewhat confusing.

Florida HARP 2.0 Mortgage Broker West Palm Beach Christian Penner, has released a new web site at: http://HarpRefinanceFlorida.com designed to remove the confusion about this latest government program.

This new HARP 2.0 resource site shares details about the basics of this mortgage lending solution and answers questions like:

* What are HARP 2.0 loans all about, in a nutshell – in layman's terms? 
* What are the benefits of the HARP 2.0 loans? 
* What kind of mortgage loans can HARP 2.0 funds be used for?
* Do I qualify for the HARP 2.0 program?
* What documents do I need to bring to the lender when I apply?
* And much more…

The new resource site showcases pages of information to help Florida Home Owners realize that HARP 2.0 loans are an ideal way for Families with Homes that have Dropped in Value to rebuild their investment, creating equity faster under a new structure.

Florida HARP 2.0 Mortgage Broker West Palm Beach Christian Penner 561-373-0987, says "readily available and with low interest rates, these HARP loans are an exciting way for people to enjoy double savings with lower monthly mortgage installment loan payments and increased equity over the long term restructuring."

Christian Penner 561-373-0987, is available for interviews and will welcome all your mortgage related questions. Email him at Christian@YourMortgageSolutionsNow.com

Call or visit http://HarpRefinanceFlorida.com to see if you qualify for this new program.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

West Palm Beach & Jupiter, Florida Based Mortgage Broker Christian Penner reveals Changes to the FHA Mortgage Insurance Premiums, from the Mortgagee Letter 2012-04 announced to all standard single family forward mortgages. The Obama administration is offering some relief to homeowners who have government-backed mortgages. There are the 5 important Things You Need to Know About These Changes.

West Palm Beach, FL -- (ReleaseWire) -- 03/12/2012 -- FHA Changes Mortgage Insurance Premiums

Mortgagee Letter 2012-04 announces changes to all standard single family forward mortgages.

This ML makes official the announcements made via recent HUD press releases.

Here are the 5 Things You Need to Know About These Changes:

1. Effective April 9th, 2012, Annual MIP will increase for all standard FHA loans < $625,000.

2. Effective June 11th, 2012, Annual MIP will increase for all standard FHA loans > $625,000.

3. Loans with a 15 year term and an LTV < 78% remain exempt from the Annual MIP.

4. Effective June 11th, 2012, for streamline refinances of loans that were endorsed on or before May 31st, 2009, qualify for an Annual MIP of 0.55% and an Up Front Premium of 0.01%.

5. Effective April 9th, 2012, the Upfront MIP is increased to 1.75% for all standard FHA loans.

To read this update in full and view the new MIP rate charts.*

* Please note that the effective date of June 11th, 2012 for loan amounts < $625,000 (listed on the chart on page 3 of the Mortgagee Letter) may actually be April 9th, 2012; FHA will need to clarify this.

Decrease to Annual Mortgage Insurance Premium on Certain Streamline Refinance Transactions For all SF Forward Streamline Refinance transactions that are refinancing FHA loans endorsed on or before May 31, 2009, the Annual MIP will be 55 bps, regardless of the base loan amount. The endorsement date is on the Case Query screen in FHA Connection. This change is effective for case numbers assigned on or afterJune 11, 2012.

Decrease to Up-Front Mortgage Insurance Premium on Certain Streamline Refinance Transactions For all SF Forward Streamline Refinance transactions that are refinancing existing FHA loans that were endorsed on or beforeMay 31, 2009, the UFMIP will decrease from 1 percent to 0.01 percent of the base loan amount. The endorsement date is on the Case Query screen in FHA Connection. This change is effective for case numbers assigned on or after June 11, 2012.

HUD No. 12-045
HUD Public Affairs
(202) 708-0685
FOR RELEASE
Tuesday
March 6, 2012

FHA ANNOUNCES PRICE CUTS TO ENCOURAGE STREAMLINE REFINANCING
Millions of FHA borrowers could save average of $3,000 a year

WASHINGTON – Today, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA's Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA. Beginning June 11, 2012, FHA will lower its Upfront Mortgage Insurance Premium (UFMIP) to just .01 percent and reduce its annual premium to .55 percent for certain FHA borrowers.

To qualify, borrowers must be current on their existing FHA-insured mortgages which were endorsed on or before May 31, 2009. Late last month, FHA also announced it will increase its upfront premiums on most other loans by 75 basis points to 1.75 percent. In addition, FHA will raise annual premiums 10 basis points and 35 basis points on mortgages higher than $625,500. Read FHA's new Mortgagee Letter.

"This is one way that FHA can make a real difference to help homeowners who are doing the right thing, paying their bills on time and want to take advantage of today's low interest rates," said Galante. "By significantly reducing costs for these borrowers, we can make certain they cut their monthly mortgage burden which will benefit the housing market and the broader economy in the process."

Currently, 3.4 million households with loans endorsed on or before May 31, 2009, pay more than a five percent annual interest rate on their FHA-insured mortgages. By refinancing through this streamlined process, it's estimated that the average qualified FHA-insured borrower will save approximately $3,000 a year or $250 per month. FHA's new discounted prices assume no greater risk to its Mutual Mortgage Insurance (MMI) Fund and will allow many of these borrowers to refinance into a lower cost FHA-insured mortgage without requiring additional underwriting. FHA-insured homeowners should contact their existing lender to determine their eligibility.

Last month, the Obama Administration announced a broad package of actions and legislative proposals to help responsible homeowners save thousands of dollars through refinancing. This includes the changes announced today that will benefit current FHA borrowers – particularly those whose loan value may exceed the current value of their home. By lowering monthly mortgage costs for home-owners, FHA hopes to help more borrowers stay in their homes, thereby decreasing the potential for future default and reducing losses to the Mutual Mortgage Insurance (MMI) Fund.

The changes outlined in today's mortgagee letter apply to all mortgages insured under FHA's Single Family Mortgage Insurance Programs except:

Title I

Home Equity Conversion Mortgages (HECM)
Section 247 (Hawaiian Homelands)
Section 248 (Indian Reservations)
Section 223(e) (Declining Neighborhoods)
Read FHA's Mortgagee Letter on new premium changes.

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.

HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business.

More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov. You can also follow HUD on twitter @HUDnews, on facebook at http://www.facebook.com/HUD, or sign up for news alerts on HUD's News Listserv.

WASHINGTON -- The Obama administration is offering some relief to homeowners who have government-backed mortgages. Under a program President Barack Obama unveiled Tuesday, the government would cut the fees it charges to insure those borrowers.

The idea is that lower fees would persuade millions to refinance their loans while interest rates are near record lows. It's the administration's latest attempt to minimize the damage from the foreclosure crisis and help more people keep their homes.

Here's a look at the program:

Q: What has the administration proposed?

A: Borrowers with mortgages insured by the Federal Housing Administration could refinance at half the current fee. A lower fee would follow years of rising mortgage insurance premiums. FHA is also reducing an up-front premium when it initiates a loan. The FHA charges the fees on top of standard interest rates because it backs riskier borrowers.

Q: Who's eligible?

A: The administration estimates 2 million to 3 million homeowners. Most are first-time or low-income homebuyers. The FHA requires only a 3.5 percent down payment. And borrowers don't have to prove that they're employed. FHA borrowers can also refinance even if they're "underwater," or owe more on their mortgage than their home is worth.

Q: How much will those who get the reduced fees actually benefit?

A: The fee is now 1.15 percent of the mortgage balance each year. Those fees are unappealing to many borrowers who want to refinance. The plan would cut the fee to 0.55 percent. The current up-front premium would also be lowered, from 1 percent of the loan balance to .01 percent. As a result, a borrower who owed $175,000 on their mortgage could save about $1,750 in one-time fees and more than $1,000 per year in annual fees by refinancing. The borrower could save nearly $150 a month more if the interest rate declined from 5 percent to 4 percent.

Q: Can those who are eligible be excluded from other government housing programs?

A: Most of the other federal housing programs, including its signature refinancing and mortgage modification programs, target other types of homeowners. So there's little overlap with the FHA's refinancing plan. For example, the administration's refinancing and mortgage modification programs are for homeowners whose mortgages are owned or backed by government-controlled Fannie Mae and Freddie Mac, not the FHA.

Q: Will it work?

A: Possibly, if the reduced fees are well-advertised and borrowers are confident of saving on their mortgage payments by refinancing. If homeowners are wary of paying even a small amount to refinance, the program could fail to reach millions who are eligible. Economists said the lower fees are a modest way to help the troubled housing market but won't turn it around. "The only thing that will do that are low interest rates and job growth," said Susan Wachter, a professor of real estate at the University of Pennsylvania's Wharton School. Stan Humphries, chief economist at the real estate website Zillow.com, predicted that a separate plan to compensate military service members who were wrongfully foreclosed upon would be a big help to that group. It's unclear how many military service members would benefit.

Christian Penner, Mortgage Broker West Palm Beach talks about Real Estate West Palm Beach. He also serves other Local Areas and provides home Mortgage Solutions for Palm Beach Gardens, Jupiter, Boca Raton, Wellington and Tequesta. Christian Penner Mortgage Broker Jupiter has the lowest mortgage rates and the best home mortgage programs like; Jumbo loans, FHA Home Loans, VA Home Loans, Reverse Mortgage Home Loans, Freddie Mac Home Loans, Fannie Mae Home Loans and HARP Mortgage Loans. Christian Penner Mortgage Broker Palm Beach Gardens has Served the area for over 15 years with his Home Loan Lending Needs.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Mortgage Broker West Palm Beach Christian Penner reveals mortgage refinancing secrets at a new web site that is full of free reports, a home buying guide and free mortgage calculators. The site is designed to give Florida residents all the facts about mortgage refinancing so they can make an educated decision when obtaining a mortgage.

West Palm Beach, FL -- (ReleaseWire) -- 08/22/2011 -- It seems like everyone in Florida is jumping on the mortgage refinancing bandwagon. Maybe you're thinking about it yourself? After all, with rates as low as they are, the promise of lowering your monthly payments, sometimes significantly, is a great attraction for many homeowners.

But before you sign on the dotted line, there are a few things you should know about the way refinancing works so you don't make a mistake that could wind up costing you big time.

"With refinancing as popular as it is right now, Florida residents have to be even more careful about shopping for the best loan," says Christian Penner - Mortgage Broker West Palm Beach , a , Florida based Mortgage Consultant. "Even the most attractive offer can wind up being a disaster once you realize how much the loan is really costing you."

Chrisitan Penner offers these tips when considering refinancing:

* You should get a significantly lower rate for refinancing to make sense. Don't rush to refinance unless it's truly worth your while. If you're working with a mortgage broker rather than going it alone, you can be assured that they're bringing you the best offers out there. If you're going it alone, you'll have to do the legwork for yourself.

* Consolidating unsecured debt with a refinance loan can be a dangerous idea. You may not be in financial trouble now, but if in a few years things change, instead of simply missing a credit card payment or two, you'll now be in danger of losing your home as well.

* Your credit score counts... big time. If you've had credit problems in the past like a bankruptcy, it might make sense to wait a while for your credit score to recover before trying to refinance. Most lenders make it hard for people with less than perfect credit to get the best deals. But, again, if you choose to let an expert like mortgage broker west palm beach get involved in the process, he can often find loan options that most homeowners didn't even know existed - which can save you thousands over the long haul. We can also work with you on a complete credit makeover that can take less than 90 days.

Mortgage Broker West Palm Beach a Florida - based mortgage expert Christian Penner specializes in providing mortgage information to Florida residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Christian Penner is available for interviews and will welcome all your mortgage related questions.

Call 561-316-6800 for a Free No-Obligation Consultation or visit http://www.AmericasMortgageSolutions.com or
http://www.ChristianPenner.com

Follow me on FaceBook at:
http://www.ChristianPennerHOmeLoans.com

or on my Blog at:
http://www.ChristianPennersBlog.com

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm