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Lend America offers stimulus package aimed at borrowers

National Mortgage Professional
Mar 24, 2014

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 closing.

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.

Mar 24, 2014