Mortgage Principal Reduction Program

If your home is underwater by at least 20%, I have a program that is not a loan modification. Credit is not an issue. We negotiate a principal reduction with your bank; purchase the note and give you a new loan at 95% of the CURRENT value of the home. Contact me for more details.

Is that the 125% loan program?

No, it's not the Harp or Hasp program. In order to qualify for those your current loan has to owned by Fannie Mae or Freddie Mac and you have to have good credit and no late payments. This program has no credit requirements but your loan balance has to be at least 20% more than the current value of your home.

Steve...........
A mortgage company will not negotiate the sale of a loan the way in which you are insinuating. Who have you bought mortgages from??

Apparently principal reductions happen quite quickly, take a gander http://modificationpackage.com/

Neither Fannie Mae or Freddie Mac allow note sales; This sounds like a scam! They do however offer short sales, so are you buying the house from the mortgager and allowing them to take a hit on their good credit for a short sale and then selling it back to them?

He never did respond to the last post.