If you are current on your mortgage payments and have no more than two 30 day late payments over the last 12 months we can offer you an FHA insured fixed interest rate loan. What you need to qualify:

1. At least 10% equity remaining on the value of your home

2. Minimum of 530 on your middle FICO score for loans up to $417,000.00 and 580 on jumbo loans to $625,500.00

3. Debt ratios up to 60% acceptable

4. Provable income

5. Non-owner co-borrowers accepted

6. Cash out refinances up to 85% of lending limits

Don’t wait until you fall behind on your mortgage payments or have no equity left, do to a declining housing market. If you are currently in an adjustable rate mortgage or have a 1st and 2nd mortgage, now is the time to take advantage of our Hope for Home Owners Program through the FHA. Call now to find out more about this program. We will pre-qualify you absolutely free of charge. Talk to one of our FHA mortgage consultants and start lowering your monthly mortgage payments in 2009.

Aequor Funding Corp. is an approved FHA mortgage company and can be found on the Governments Hope for Home Owners web site (www.fha.gov).

In this new American economy many companies in a broad range of industries must have the capability to adapt to their ever changing markets. Aequor Funding Corp. (AFC) is no different. We are realizing very quickly that both the focus and the needs of our clients are shifting towards FHA lending. We are noticing more and more that an FHA insured loan is the only feasible solution for a client to consider. We are aiming to fulfill that need and become the premier originator of FHA loans in the state of NJ. With this comes the great responsibility of making sure that our clients, partners and colleagues are correctly informed and aware of how these loans are structured and how they can benefit our clients. In utilizing an FHA loan for the purchase of a home, the potential buyer has more flexibility with their down payment and may qualify with putting as little as 3% down. When looking at a possible refinance scenario, an FHA loan program will allow a homeowner to utilize more of their equity to fulfill any immediate need they may have. FHA loans also enhance our capability of getting loans approved for those clients who may not have a perfect credit history. This alone is crucial in stabilizing our real estate market and our economy. It’s these programs that may allow for a person with blemished credit to stay in their home or to take advantage of the tremendous real estate deals presently available and become a homeowner. At Aequor Funding Corp. (AFC) we take pride in the fact that the Loan Officers you or your family or friends will be speaking with are highly experienced and knowledgeable on the FHA programs, products and process. In addition we are constantly staying ahead of the curve in regards to the new government recommended programs that are emerging daily. We will make it our responsibility to keep our clients up to date on these program roll outs as they hit the market. Please remember that Aequor is still your home for your conventional, commercial and specialty financing needs and will now add an increased focus and energy on the very popular FHA loan. All the best!

October 2008 has truly been an exciting and progressive month for Aequor Funding Corp. as we have become the exclusive HUDEXCHANGE representative to offer loans on HUD owned properties for sale in Middlesex County. Please visit our web site www.aequorfunding.com for more details or simply click the HUDEXCHANGE banner below to begin searching for a foreclosed or bank owned property today.





If you are interested in any properties for sale through out the State of New Jersey by the HUDEXCHANGE, we can pre-qualify your loan request and put you in contact with the assigned realtor for that county. Aequor Funding Corp. can arrange various financing plans for your purchase, from conventional loans to FHA loans; including investment properties, primary residences or 2nd homes. Call us now, whether you’re a first time home buyer or a seasoned investor, Aequor Funding Corp. will guide you through the process of purchasing HUD-owned properties for sale in the State of New Jersey.

The White House has announced that they are taking a new direction in regards to the Troubled Asset Relief Program (TARP) or bailout as it is otherwise known. The initial plan called for the purchase of troubled mortgage-backed securities (MBS) and mortgage loans. The government has now decided to use the initial $350 billion to purchase preferred stock in the nations largest banks. This will include ownership stakes equaling $125 billion in banks such as Bank of America, JP Morgan Chase and Wells Fargo acquiring $25 billion each. President Bush added that the program has been “carefully designed to encourage banks to buy these shares back from the government when the markets stabilize and they can raise capital from private investors.” The goal of the government is the purchase an additional $125 billion in hundreds of smaller and mid-sized banks by the end of 2008. This program should help alleviate the liquidity fears that the banks have had recently. This has caused the banks to stop lending to one another and in turn has had disastrous effects on both the economy and interest rates. The banks capacity to lend to one another is tremendously important to our markets. We should begin to see a return to normalcy in the coming weeks. We will continue to monitor the markets and as always be well informed for our clients.

*HOPE FOR HOMEOWMERS (H4H)
*FHA Secure
*FHA Streamline

Effective October 1, 2008 HUD has initiated the H4H program as another loss mitigation option to keep borrowers in their homes on sustainable and affordable terms. These loans are available to home owners of single family dwellings who have fallen behind on their mortgage payments. Borrowers who are current on their mortgage payments are also eligible. The maximum amount of the loan is limited to 90% of the current market value of the property up to a maximum dollar amount of $550,440.00 nationwide. Any type of mortgage can qualify, as long as it was originated on or before January 1, 2008. This program usually requires the original lien holder to write down their existing loan balance, which they will find as being less expensive than foreclosure and disposition of the property. There are special underwriting requirements for the H4H program.
• The borrowers total existing mortgage payment must be in excess of 31% of the gross monthly income in March of 2008.
• The new total monthly mortgage payment must be determined to be less than the total existing mortgage payment.
• Debt ratios should not exceed 31/43; however they may be expanded to 38/50 under special circumstances.

Basically the H4H loan program is an expansion of the FHASecure program which limited homeowners to recasting only ARMs after their reset dates. In most cases the existing mortgage has to be current.

FHA Streamline refinancing is available to all borrowers who currently have an existing FHA loan. There is a minimum of six months required before you can refinance under this program. It is designed to reduce interest rates to home owners. There are no credit checks, income checks or reserve requirements. Basically the home owner needs to be current on their existing mortgage with no late payments for the last six to twelve months (depending on how long the loan has been held). HUD is encouraging home owners to refinance their adjustable rate mortgages before they reset to higher rates even if your current teaser rate is below current fixed rates. By allowing FHA borrowers to refinance within six months to a lower rate with little or no documentation HUD is preventing payment shock to borrowers who have ARM mortgages.