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Home Affordable Refinance Program (HARP): Fannie Mae #monthly #mortgage #calculator


#harp loan program
#

Home Affordable Refinance Program (HARP)

The government’s Home Affordable Refinance Program (HARP) has been expanded to help more homeowners qualify for refinancing their mortgage. Even those with little or no equity available may take advantage of low interest rates, and other refinancing benefits.

“Whether you’re looking to refinance a property you live in, or an investment property, find out if you qualify for this amazing program.”

What is HARP?

HARP is unique—it’s the only refinance program that enables eligible borrowers with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits. There have been several changes to HARP, but the primary enhancement removed the limit on the amount that homeowners could be “underwater” (owe more on their mortgage than their home is worth). With that change, many homeowners who were not eligible will now qualify. Program ends December 31, 2016.

HARP may be an option if:

  • You have had a good payment history for the past 12 months. That means having no late payments in the last 6 months and no more than one 30-day late payment from 6 to 12 months ago.
  • Your home is your primary residence, 2nd home or investment property.
  • Your home value has decreased.
  • You have limited equity or your first mortgage exceeds the current market value of the home (i.e. your loan-to-value ratio must be 80% to be eligible).
  • Your loan is owned or guaranteed by Fannie Mae or Freddie Mac. Check the Fannie Mae Loan Lookup tool.
  • Your loan was closed on or before May 31, 2009 (this date can be found using the loan lookup results).

Take the HARP Quiz to see if you may qualify. For more information about HARP eligibility and requirements, go to HARP.gov or visit the Fannie Mae Loan Lookup tool.

Top reasons to refinance with HARP

  • Lower your monthly payment
  • Reduce your interest rate
  • Get a fixed-rate mortgage that won’t change over time
  • Build equity faster—shorter term options may be available
  • Save time and money with usually no appraisal required

Next steps

Gather your financial information —Make sure you have your basic financial and loan information on hand when you call your mortgage company. You’ll need:

  • your mortgage statements, including information on a second mortgage (if applicable);
  • your other monthly debt payments (e.g. car or student loans, credit card payments); and
  • your income details (paystubs and income tax returns).

It’s important to act quickly. As soon as you think you may have trouble making your mortgage payments or you think you want to refinance, contact your mortgage company to see if you are eligible for this option. If you need further assistance (before or after contacting your mortgage company), contact a Housing Counselor. Homeowners with a Fannie Mae-owned loan should contact one of our Fannie Mae Mortgage Help Network partners. English and Spanish advisors are available, and all services offered by the Fannie Mae Mortgage Help Network are FREE.

Frequently asked questions about the Home Affordable Refinance Program (HARP)

HARP is the Refinancing Solution You Need

1. What is HARP?

HARP stands for the Home Affordable Refinance Program. It was introduced by the Federal Housing Finance Agency (FHFA) and the Department of the Treasury in early 2009 as part of the federal government’s Making Home Affordable™ program. HARP provides eligible homeowners, who may not otherwise qualify for refinancing because of declining home values, the ability to refinance their mortgage into a lower interest rate and/or more stable mortgage product. The program was enhanced in 2011 to allow more eligible homeowners to refinance.

2. What does it mean to “refinance” my mortgage?

3. What enhancements were made to HARP that may make me eligible now?

4. What if I have an adjustable-rate mortgage (ARM)?

5. Is HARP the only refinance program available?

6. How can I find out whether my loan is owned by Fannie Mae or Freddie Mac?

7. How does the HARP refinance process work?


SALLIE MAE or ASTRIVE Student Loan? #bad #credit #loans #no #guarantor


#astrive student loans
#

SALLIE MAE or ASTRIVE Student Loan ?

Hi friends,

Jun 22, ’09 by jerror

DON’T even consider going through astrive!

I did. and believe me it has been a very negative experience. Astive is just a company that originates loans and sell them to other companies, these other companies are the trash of the student loan company that are so bad at customer service i’m sure couldn’t survive selling loans under their name.

My loan got sold to one company, and the another company, and for a while I was getting billed from two different companies for the same loan and both of them said I had to pay them! ORLY. after I was like you need to sort out who I should be paying they both put me in collections and I was getting collections phone calls from two different collection agencies about the same loan! Eventually fearing irreparable damage to my credit report, I paid one, and the other mysteriously stopped calling? I still don’t understand what the hell was going on.

Now I get late notices with two names on it National Collegiate Trust and American Educational Services which still baffles me, but whatever.

Notice I said late notices. yeah I don’t get regular bills from this/these companies I only get late notices usually with late fees attached.

When I called the company to ask what was going on with me not getting bills they told me that I was, and it must be my post office! I was like ummm lets see. I get the late payment bills but not the regular ones, logically it’s not the post offices fault he basically said O-Well. With a busy life I try to pay my bills as I get them in the mail to stay ahead, and stay organized. Getting only late fee notices freaks me out! So I asked for a payment booklet. the CSR said We don’t do payment booklets

What a junk company. Stay away from ASTRIVE student loans you’ll wind up with a gutter class company to service it.

  • Like?

K-12 Student Loans – Education Loans for Private School Tuition – Sallie Mae #aussie #loans


#educational loans
#

K-12 Family Education Loan

Paying for K-12 private school tuition expenses

Sallie Mae’s K-12 Family Education Loan is an ideal solution for families who need additional flexibility in paying for private education beyond financial aid, personal savings, or traditional payment plans. Get the money you need for tuition, books, computers, musical instruments, sports, room and board, and extracurricular activities.

Eligibility

Encouraging Responsible Borrowing

Sallie Mae has helped more than 30 million Americans pay for college since 1972. We encourage students and families to supplement their savings by exploring grants, scholarships, federal and state student loans, and to consider the anticipated monthly payments on their total student loan debt and their expected future earnings before considering a private education loan.

1 This informational repayment example uses typical loan terms available for the K-12 Family Education Loan and has a $10,500 loan with one disbursement, a 3% disbursement fee, and a 12.80% variable APR: 35 payments of $352.79, and one payment of $352.78, for a Total Loan Cost of $12,700.43. Variable rates may increase after consummation.

2 Upromise is a rewards service of Sallie Mae, the nation’s savings, planning, and paying for college company. Sallie Mae has helped more than 30 million Americans pay for college since 1972. To learn more about the benefits of Upromise, visit www.Upromise.com.

3 All institutions must be licensed or accredited by the department of education in the states in which they operate, if required by that state, or must be accredited by a recognized national education association. Applicants must be able to provide proof that the student is enrolled at an eligible school, either through school certification or by providing an enrollment agreement or tuition bill. You must be a U.S. citizen or permanent resident. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

A disbursement fee of up to 3% may apply.

K-12 Family Education Loans are made by Sallie Mae Bank.

Information advertised valid as of 10/26/2015.

WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.

Sallie Mae, K-12 Family Education Loan, and the Sallie Mae logo are service marks or registered service marks of Sallie Mae Bank or its subsidiaries.

Upromise and the Upromise logo are registered service marks of Upromise, Inc.


Citi Subsidiary The Student Loan Corporation Sells Securitized FFELP Assets to Sallie Mae #30 #day #loans


#student loan corporation
#

Citi Subsidiary The Student Loan Corporation Sells Securitized FFELP Assets to Sallie Mae

The Student Loan Corporation to be Acquired by Discover Financial Services

Transactions to Reduce Citi Holdings Assets by $32 Billion

New York Citi today announced that The Student Loan Corporation (“SLC”), an indirect subsidiary that is 80 percent owned by Citibank and 20 percent owned by public shareholders, has entered into definitive agreements that will result in the divestiture of Citi’s private student loan business and approximately $32 billion of its approximately $46 billion in assets to Discover Financial Services (“Discover”) and SLM Corporation (“Sallie Mae”).

“We expect that once this divestiture is completed in the fourth quarter, total assets in Citi Holdings will be less than 20 percent of our balance sheet as of year-end,” said Vikram Pandit, Chief Executive Officer of Citi. “We are very pleased with the progress we’ve made and the momentum we have in executing our strategy.”

“SLC is an outstanding institution with 52 years of education-based lending experience, a strong national distribution network providing student loan products, and a terrific track record of providing service to schools, students and families. Today’s announcement is an excellent outcome for this business. We are delighted that Discover will acquire SLC’s private student loan business and build on its strong foundation, and we are confident that Sallie Mae will provide high quality service to Federal Family Education Loan Program (“FFELP”) borrowers after the transition is completed,” said Michael Corbat, Chief Executive Officer of Citi Holdings.

The transactions are expected to result in an after-tax loss to Citi of approximately $500 million in the third quarter.

The transactions are subject to regulatory approvals, SLC shareholder approval, and other customary closing conditions and are expected to close by the end of 2010.

As part of the transactions announced today, Citibank, N.A. will purchase approximately $8.7 billion of assets from SLC and will explore opportunities to reduce these assets over time. Additionally, SLC will sell $4.7 billion in FFELP loans to the Department of Education, as previously disclosed by SLC, which will further reduce assets in Citi Holdings.

Citi’s Institutional Clients Group advised Citi on this transaction.

Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

Certain statements in this release, including without limitation the anticipated assets of Citi Holdings by year-end, the execution of the proposed transactions and the expected financial and accounting impact of the transactions on Citi, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including the continued successful execution of Citi’s strategy with respect to Citi Holdings, the actual completion of the proposed transactions, the receipt of regulatory approvals and required shareholder approvals, and the final analysis of the financial and accounting of the transactions. For more information about these factors and other factors that may affect Citi’s future results, see Citi’s periodic reports filed with the U.S. Securities and Exchange Commission and available on www.sec.gov or www.citigroup.com. Such factors should be read in conjunction with this release.


Sallie Mae student loan consolidation review #small #loans


#how to consolidate student loans
#

Sallie Mae student loan consolidation review

Figuring out how to pay for both college tuition and student loans is a problem plenty of undergraduates and graduates are struggling with, especially in this difficult economy, where less and less businesses are providing employment opportunities to recent graduates. With the increase of the number of loans students are taking out to be able to afford the costs of living associated with living at college, there is an increased opportunity for students to consolidate their loans and make it easier for them financially by making only one payment per month to cover the balance of all the other loans they have taken out.

One such loan consolidation is Sallie Mae, one of the largest student loan lenders and consolidators.

FREE CONSOLIDATION OPTIONS

Sallie Mae s private loan consolidation is fee free, allowing for graduates and undergraduates to lump together all of their private loans into one lump sum, with a period of thirty years to make repayments. Interest rates are variable instead of fixed, and are mostly based on the student s or cosigner s credit history.

FLEXIBLE REPAYMENT OPTIONS

Sallie Mae offers flexible repayment options in the form of:

ñ  standard repayment plan: this is the cheapest option available to private loan holders. as it has the lowest total interest expense. The minimum monthly pay is fifty dollars, over a period of fifteen years.

ñ  graduated repayment plan: this plan allows for students to make payments that can be reduced or be interest only for a period of four years. However, this will increase the costs after this period of time for the remaining balance on the loan.

ñ  extended repayment plan: graduates and undergraduates with more than thirty thousand dollars in loans can extend the time period for repayment to twenty, twenty-five or even thirty years, depending on the amount of balance remaining on the private loans. However, this does increase the costs of the interest rates.

NO MORE FEDERAL LOANS

Sallie Mae has stopped the consolidation of federal loans. This leaves a lot of graduates and undergraduates with even fewer choices for loan consolidation companies to choose from, especially with the fact that consolidated federal loans have a fixed rate that is much cheaper than the variable rates of consolidated private loans.

Sallie Mae still provides consolidation for private loans, however, which provide a longer time period of payment but at higher interest rates, at a minimum of five thousand dollars in private loans and there are not penalties for early repayment.

ORIGINATION FEES NOT WAIVED

Sallie Mae has ceased to wave origination fees for Stafford loans, making it more expensive for students to start consolidation accounts. This was one of the biggest discounts offered to students who are new to the loan and consolidation process, and with it gone, students have to suffer a further hardship of paying this origination fee if they are consolidating their federal loans .

It may be difficult for some graduates and undergraduates to find loan consolidators that deal with both private and federal loan consolidation, as most loan consolidators are no longer willing to provide services for federal loans. Sallie Mae is one of them, and elimination of these services as reduced the variety of their customers. Also with the lack of waiving the origination fee, it makes it more difficult to save money in the future to finally pay of what is owed on their loans.

Are you eligible for lower payments?

Check Eligibility Now


Refinance Calculator: Fannie Mae #secured #loans


#home loan eligibility calculator
#

Refinance Calculator

This calculator returns information based on your inputs regarding your existing mortgage information. It is important that you provide accurate information in order to receive more realistic results. This calculator can only provide a general overview of your situation based on the information you provide. Your mortgage company may use different information to determine eligibility and your individual results may vary from the results shown by this calculator.

Calculate Results

Please Note:

These results have been calculated based on your inputs regarding your existing mortgage information. Your mortgage company may consider additional factors in determining your eligibility and potential savings, which may result in a different payment or savings amount.

Please save this information (as a PDF document) or email it to yourself, so that you may have it as a reference when you speak with your mortgage company or a housing counselor.

FAQ

ANSWERS

Find the answers to common questions concerning your mortgage and the various options to avoid foreclosure.


Repayment Calculator: Fannie Mae #payday #loan #help


#loan repayment calculator
#

Repayment Calculator

This calculator returns information based on inputs regarding your existing mortgage information. It is important that you provide accurate information in order to receive more realistic results. This calculator can only provide a general overview of your situation based on the information you provide. Your mortgage company may use different information to determine eligibility and your individual results may vary from the results shown by this calculator.

Calculate Results

Please Note:

These results have been calculated based on your inputs regarding your existing mortgage information. Your mortgage company may consider additional factors in determining your eligibility and potential savings, which may result in a different payment amount.

Please save this information (as a PDF document) or email it to yourself, so that you may have it as a reference when you speak with your mortgage company or a housing counselor.

FAQ

ANSWERS

Find the answers to common questions concerning your mortgage and the various options to avoid foreclosure.


Citi Student Loan sold to Sallie Mae – myFICO® Forums #same #day #cash #loans


#citi student loans
#

I have so many student loan issues that I confused them. THIS IS A FEDERAL STUDENT LOAN!

I originally talked to a representative of Sal Mae that didn’t see the late payment, and told me to send a letter and copy of my CR showing the late payment.

I sent the letter and they confirmed the payment as 90 days late. I called Sal Mae again, and talked to a supervisor who confirmed that the bill was late when it got to Sal Mae. This sounds HIGHLY ILLEGAL to me. Correct me if I am wrong, but I thought Sal Mae purchased all of Citi Student Loan debt? They have different account numbers on my credit report.

My CR shows a: SLC Conduit I LLC with Transferred to another lender; Transferred to another office – a 60 day late on 10/2011

and then

Sallie Mae with Current; Paid or Paying as Agreed – a 90 day late on 10/2011 and current on 11/2011

Thoughts Anyone? Where is the law book that these companies operate or who is the governing authority? I would like to be able to call Sall Mae and and tell them where they are breaking the law. They have already confirmed the late payment when I sent them a letter directly so Im sure they would do the same to a CRA Dispute.


Sallie Mae – Smart Option Student Loan Calculator #paydayloans


#student loan payment calculator
#

For information on your existing Sallie Mae private loans, please log into your online account.

Legal:

All calculations are estimates only, based on information provided by you and Sallie Mae’s current Smart Option Student Loan terms. Your actual monthly payment amounts, annual percentage rate (APR), and payment schedule may vary from the results shown and will be based on terms in effect at the time your loan is approved.

The interest rate for your loan may be based, in part, on whether you have a creditworthy cosigner. Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate. Your interest rate may be higher without a creditworthy cosigner.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BORROWER BENEFITS (INCLUDING INTEREST RATE REDUCTIONS) AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE SALLIE MAE WEBSITE CLOSE TO THEIR LOAN APPLICATION DATE AND AGAIN PRIOR TO DISBURSEMENT TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING PRODUCTS, SERVICES, AND BORROWER BENEFITS.

The Sallie Mae Smart Option Student Loan is made by Sallie Mae Bank® or a Sallie Mae lender partner.

2015 Sallie Mae Bank. All rights reserved. Sallie Mae and the Sallie Mae logo are registered service marks of Sallie Mae Bank or its subsidiaries.


Home Affordable Refinance Program (HARP): Fannie Mae #personal #loans #for #bad #credit


#harp loan program
#

Home Affordable Refinance Program (HARP)

The government’s Home Affordable Refinance Program (HARP) has been expanded to help more homeowners qualify for refinancing their mortgage. Even those with little or no equity available may take advantage of low interest rates, and other refinancing benefits.

“Whether you’re looking to refinance a property you live in, or an investment property, find out if you qualify for this amazing program.”

What is HARP?

HARP is unique—it’s the only refinance program that enables eligible borrowers with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits. There have been several changes to HARP, but the primary enhancement removed the limit on the amount that homeowners could be “underwater” (owe more on their mortgage than their home is worth). With that change, many homeowners who were not eligible will now qualify. Program ends December 31, 2016.

HARP may be an option if:

  • You have had a good payment history for the past 12 months. That means having no late payments in the last 6 months and no more than one 30-day late payment from 6 to 12 months ago.
  • Your home is your primary residence, 2nd home or investment property.
  • Your home value has decreased.
  • You have limited equity or your first mortgage exceeds the current market value of the home (i.e. your loan-to-value ratio must be 80% to be eligible).
  • Your loan is owned or guaranteed by Fannie Mae or Freddie Mac. Check the Fannie Mae Loan Lookup tool.
  • Your loan was closed on or before May 31, 2009 (this date can be found using the loan lookup results).

Take the HARP Quiz to see if you may qualify. For more information about HARP eligibility and requirements, go to HARP.gov or visit the Fannie Mae Loan Lookup tool.

Top reasons to refinance with HARP

  • Lower your monthly payment
  • Reduce your interest rate
  • Get a fixed-rate mortgage that won’t change over time
  • Build equity faster—shorter term options may be available
  • Save time and money with usually no appraisal required

Next steps

Gather your financial information —Make sure you have your basic financial and loan information on hand when you call your mortgage company. You’ll need:

  • your mortgage statements, including information on a second mortgage (if applicable);
  • your other monthly debt payments (e.g. car or student loans, credit card payments); and
  • your income details (paystubs and income tax returns).

It’s important to act quickly. As soon as you think you may have trouble making your mortgage payments or you think you want to refinance, contact your mortgage company to see if you are eligible for this option. If you need further assistance (before or after contacting your mortgage company), contact a Housing Counselor. Homeowners with a Fannie Mae-owned loan should contact one of our Fannie Mae Mortgage Help Network partners. English and Spanish advisors are available, and all services offered by the Fannie Mae Mortgage Help Network are FREE.

Frequently asked questions about the Home Affordable Refinance Program (HARP)

HARP is the Refinancing Solution You Need

1. What is HARP?

HARP stands for the Home Affordable Refinance Program. It was introduced by the Federal Housing Finance Agency (FHFA) and the Department of the Treasury in early 2009 as part of the federal government’s Making Home Affordable™ program. HARP provides eligible homeowners, who may not otherwise qualify for refinancing because of declining home values, the ability to refinance their mortgage into a lower interest rate and/or more stable mortgage product. The program was enhanced in 2011 to allow more eligible homeowners to refinance.

2. What does it mean to “refinance” my mortgage?

3. What enhancements were made to HARP that may make me eligible now?

4. What if I have an adjustable-rate mortgage (ARM)?

5. Is HARP the only refinance program available?

6. How can I find out whether my loan is owned by Fannie Mae or Freddie Mac?

7. How does the HARP refinance process work?