Loan Modification Is Not Working!  

Principal Reduction May Be Possible for You!

According to a December 11, 2009 article in the Washington Post, "The government's foreclossure relief program is sputtering, according to government data released Thursday showing that the pace of help being offered to struggling homeowners slowed last month and many borrowers are at risk of losing the aid they have already received."  In other words, the American Dream, home ownership, is being taken away by banks that the American people bailed out.  So many people are asking, "Where is my bail out?"  

Statistics that came out on December 11, 2009 show that only 4% -- let us repeat that -- only 4% of all loan modifications are working!  That represents only 31,382 of the 728,000 homeowners currently in the program, because most homeowners in the trial program are turned down for the permanent loan modification.  Why is this happening? Because banks are paid by the government to place people in the trial phase, but they are not paid to accept homeowners in the permanent loan.  Sounding more fishy, doesn't it!  And even if you are one of the very few lucky homeowners to obtain a permanent loan modification, and get approval for a low interest rate, you may will still owe more on your house than what your house is worth.  What do homeowners do when they have nowhere else to turn.

Fortunately for today's homeowners, we have the program available that not only lets you stay in your home, it also reduces the principal balance of your mortgage.  The National Note Association Principal Reduction Program works like this:

1.  We obtain your information and evaluate your eligibility for our Principal Reduction Program.  We are looking for homeowners which have homes that are worth much less than the first mortgage note balance, normally more than 125% upside down.  And while we NEVER tell anyone to not pay their mortgage, this program also works best when the mortgage has been in a non-payment status for many months.  The homeowner would enter their information at our NNA Principal Reduction Website.  There is a payment due to pay for our negotiation, the appraisal, and our processing fees.  Please see our FAQ for more information.

2.  We contact the Asset Management department of your mortgage lender.  

3.  We offer to purchase your mortgage from your mortgage lender.  If you are not paying your mortgage loan because of  problems with your mortgage, it is likely that your mortgage lender will jump at selling us your non-performing loan.

4.  Once the mortgage loan is purchased, National Note Association restructures your mortgage loan, reducing the principal debt to a balance commencerate with the real value of your home.  We actually try to give you EQUITY in your home if we have purchased the mortgage loan at a price that makes that possible because we will want you to refinance the mortgage as soon as possible, usually no later than 3 years.

5.  When we structure the note, you will receive a Principal Reduction of up to 50% of the CURRENT MARKET VALUE.   The interest rate will be higher, likely making the payment equivalent to your current loan payment, but we have no prepayment penalties and will assist you in finding a new, lower interest rate mortgage as soon as you (and your credit report) are eligible.

6.  Once you (and your credit) are eligible, you refinance your home, with equity at a lower principal balance, into a lower interest rate, and you remain in your home.  You will get all of the negative equity reduce, receive instant equity, a lower monthly payment once your refinance.  

Click Here for Answers to Frequently Asked Questions.

PROPERTY OWNERS:  If you are a property owner - whether commercial or residential and wish to create an account for your own property so we can purchase your mortgage note and restructure it for you, go to www.NNAPrincipalReduction.com and click on Loan Modification and enter your information.  We will be in touch with you shortly regarding required agreements and payment.  

BECOME AN NNA AFFILIATE:  Email us at PRP@NationalNoteAssociation.com to create an Affiliate account on our system so you can submit homeowner files to National Note Association.  To become an Affiliate your must pay a fee of $1,497, which will also provide you membership to our training site and access to our software that can quickly prepare principal reductions, short sales, and loan modifications.  An Affiliate of NNA will be paid 3% of the closed restructured note for assisting property owners in this process.