Lend America offers stimulus package aimed at borrowers MortgagePress.comFHA, stimulus package, consumer assistance
Lend America has
announced, in conjunction with the new Federal Housing
Administration (FHA) higher loan limits now in place, the launch of
an additional stimulus package to provide further assistance to
consumers dealing with the current mortgage crisis. At the end of
2007, nearly three million homeowners were behind on their
mortgages, according to the Mortgage
Bankers Association, and Lend America's stimulus package is a
proactive response to help these struggling borrowers.
Michael Ashley, chief business strategist of Lend America said,
"Against a backdrop of lower interest rates, this increase in FHA
loan limits is a significant development for both consumers and
communities struggling with the current credit crisis and the worst
housing slump in more than two decades."
Lend America is now licensed to do business in 33 states,
recently entering Oregon and New Hampshire, and anticipates being
approved to originate in 14 additional states. This stimulus
package is designed for FHA refinances. Homeowners who refinance
with Lend America using FHA financing will receive a $1,200 housing
stimulus closing cost credit, or in some cases, cash at
Melville, N.Y.-based Lend America is a privately-owned
residential mortgage lender. For more information, call (800)
227-0114 or visit www.lendamerica.com.