TFC Tricont Mortgage

Obama (sotu) Purchase and Refinance Homeowners Incentives

2012-02-15T09:16:00.009-05:00

By Aideyan Omoregbee
FICO REQUIRED (NA)

Obama New Home Purchase and Refinance Incentives
During the January 31, 2012 State of the Union message, President Obama announced a brand new plan to help responsible homeowners buy or refinance their home and heat up the housing market that is beginning to see some improvement but still sluggish.

As with previous announcements by the president, if this plan is effectively executed, a lot of homeowners who are now confused about how they will get out of the jam they are in will get help. With this incentives giving them the needed boost to their confidence, they will be able to do all they can to hold on to their homes. We at Tricont Mortgage, believes that this plan will help more of our homeowners get out of this limbo and we urge you to do so.

To learn more about this plan Please call (803) 317-2500 or click on the following link to read Obama's Plan to Help Responsible Homeowners and Heat the Housing Market

MORE INFORMATION
For more information on different mortgage loan types, purchases, refinances, blog posts, please visit us at any of our following sister sites @ Tricont Mortgage www.tricontmortgage.com, Tricont Buzz www.tricontbuzz.com, Tricont Post www.tricont.posterous.com Tricont Blog www.tricontblog.com and Tricont Mortgage Blog www.tricontmortgage.blogspot.com before closing on your purchase or refinance mortgage loan.

Hope we can earn your trust and help you with all your mortgage and financial needs..... PLEASE RATE & LEASE US A COMMENT.

NOTE: .......As always, please call your Tricont Mortgage Client Advisor @ (803) 317-2500 for any additional help on how you can take advantage of this latest plan or email us @ aomoregbee@tricontmortgage.com

USDA 100% RURAL HOME LOANS 3

2012-02-02T09:07:00.002-05:00

By Aideyan Omoregbee

Fico 620 Require

Part III

DIFFERENCES BETWEEN THE SECTION 502 (USDA) GUARANTEED AND DIRECT LOAN PROGRAMS

There are several other Section 502 loan programs, but the only one that approaches the guaranteed program in number of loans made is the Homeownership Direct Loan Program.

LENDER

1. The lender for Section 502 guaranteed loans is a private savings and loan institution, bank, or mortgage company which also handles all the loan servicing.

2. The lender for the direct program is the Rural Housing Service (RHS); Rural Development (RD) handles the servicing.

INCOME LEVELS

Income levels for Section 502 guaranteed borrowers are capped at 115 percent of the area median income (AMI)

Income levels for the direct program must be no more than 80 percent of the AMI.

PAYMENT ASSISTANCE

1. Payment assistance subsidy is not available through the guaranteed program.

2. Payment assistance, which can reduce the interest paid on the mortgage to as low as 1 percent, is available for borrowers in the direct program and is based on the borrower’s income as a percent of AMI.

BORROWER PROTECTION

Borrower protections differ between the programs. Applicants for guaranteed loans do not have the rights of moratorium or of appeal that accompany the direct program.

Also, in the case of default, Section 502 guaranteed loans are liquidated by the commercial lender, while direct loans are liquidated by the government.

MORE INFORMATION

For more information on different mortgage loan types, purchases, refinances, blog posts, please visit us @ Tricont Mortgage www.tricontmortgage.com, Tricont Buzz www.tricontbuzz.com, Tricont Post www.tricont.posterous.com Tricont Blog www.tricontblog.com and Tricont Mortgage Blog www.tricontmortgage.blogspot.com before closing on your purchase or refinance mortgage loan …..I can be reach @ (803) 317-2500 or email me @ aomoregbee@tricontmortgage.com........Thank you very much and Welcome.

Hope we can earn your trust and help you with all your mortgage and financial needs..... PLEASE LEASE US YOUR COMMENTS.

NOTE: Approximately 30% of Guaranteed 502 loans are made to families with incomes below 80 percent of AMI... A decision on your application should come within 30 days of receipt of your file at the Rural Development office. Rest assured! Your new home may be right in front of you

FHA 203(b)

FHA 203(b) POOR CREDITS MORTGAGES (Fico 580 Require)

To follow soon…..Please come back, thank you

USDA 100% RURAL HOME LOANS 2

2012-01-31T07:17:00.010-05:00

By Aideyan Omoregbee

Fico 620 Require

Part II

USDA 100% LOANS REQUIREMENTS

1. Loans must be from lending institutions that have been approved by RHS.

2. Be a 30-year terms and fixed rates at present market interest rates.

3. Loans may be for up to 100% of the market value or the purchase price, whichever is less.

4. The maximum loan amount is based on the homeowner or household (adjusted) income.

5. Loans may include closing costs, legal fees, title services, escrow account setup fees, prepaid items fees, etc. as long as the appraised value is higher than the sales price.

6. RHS charges the lender a one-time guarantee fee of 2 percent of the loan amount which the lender may decide to pass on to the borrower.

7. No private mortgage insurance is required and Fannie Mae and Ginnie Mae accept the loan on the secondary market.

8. RHS guarantees the first 35% of the loan at 100% and the remaining 65% at 85 percent of loss respectively. The maximum loss payable by RHS cannot exceed 90% percent of the original loan amount.

TERMS
Loans are for 30 years. The promissory note interest rate is set by the lender. There are no required down payments. The lender must also determine repayment feasibility, using ratios of repayment (gross) income to PITI and to total family debt.

Loans are for up to 33 years (38 for those with incomes below 60 percent of AMI and who cannot afford 33-year terms). The term is 30 years for manufactured homes. The promissory note interest rate is set by HCFP based on the Government cost of money at time of approval. However, that interest rate is modified by payment assistance subsidy.

STANDARDS:
Under Section 502 program, housing must be modest in size, design, and cost. Modest housing is property that is considered modest for the area, does not have market value in excess of the applicable area loan limit, and does not have certain prohibited features. There are no restrictions on size or design. Typical amenities, except in-ground swimming pools, are allowed.

The house (residence) constructed, purchased, or rehabilitated to be purchased with the guaranteed loan must conform to the voluntary national model building code adopted by the state and HCFP thermal and site standards CABO Model Energy Code and to the structure, facility, and termite standards established by the U.S. Department of Housing and Urban Development.

Manufactured homes must be new and permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards.

Approval

Interested, please contact a mortgage client advisor at Tricont Mortgage (803) 317-2500. You can also visit our low rates warehouse page @ www.tricontmortgage.com or email us @ aomoregbee@tricontmortgage.com to complete an application.

Hope we can earn your trust and help you with all your mortgage and financial needs..... PLEASE LEASE US YOUR COMMENTS.

Part 3 of 3

DIFFERENCES BETWEEN THE SECTION 502 (USDA) GUARANTEED AND DIRECT LOAN PROGRAMS

To follow soon…..Thank you

USDA 100% RURAL HOME LOANS

2012-01-17T10:17:00.007-05:00

By Aideyan Omoregbee

Fico 620 Require

Part I

GUARANTEED AND DIRECT LOAN PROGRAMS

The Rural Housing Service (RHS) is a part of Rural Development (RD) in the U.S. Department of Agriculture (USDA). RHS operates a wide range of programs that were once administered by the Farmers Home Administration to support affordable housing and community development in rural areas. RHS provides direct loans (made and serviced by USDA staff) and also guarantees loans for mortgages extended and serviced by others.

USDA 100% Rural Home Loans is Booming throughout SC

A USDA Government guaranteed and insured loan is a loan that offers purchase or fixer upper borrowers a 100% financing in the rural areas of the country. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. Some urban areas also qualify for these loans. More than 75% of South Carolina qualifies for USDA mortgage loans.

With a USDA loan program, an individual or family may borrow up to 100% of the appraised value of the home. NOTE: Many USDA loans are available with:

No Money Down.
No Mortgage Insurance
Affordable by Low Income Borrowers
Come with Low Monthly Mortgage Payments.
Borrower only Needs 620 Credit Score

Important Characteristics of USDA Guaranteed Rural Housing Loans (Section 502) (U.S. Dept. of Agriculture) Mortgages

PURPOSE

The USDA (Section 502) loans are primarily used to help individuals or households with steady, low or modest income, but are unable to obtain adequate housing through conventional financing to purchase homes in rural areas.

Funds can be used to build, repair, renovate or relocate a home, or to purchase a new or existing dwelling or the purchase of a new manufactured home and prepare sites, including providing water and sewage facilities. RHS does not make a loan directly to an eligible applicant, but reduce the risk by guaranteeing a loan made by a commercial lender

ELIGIBILITY

Applicants for direct mortgage loans from Rural Development Housing & Community Facilities Programs (HCFP) must have very low or low incomes. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI.

Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance, which are typically within 22 to 26 percent of an applicant's income. However, payment subsidy is available to applicants to enhance repayment ability. Applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories.

ELIGIBLE ACTIVITIES

An eligible applicant must have an adequate and dependable income (up to 115 percent of adjusted area median income, [AMI]) a decent credit history and be unable to qualify for conventional mortgage credit.

To qualify the applicant, RHS uses two formulas to determine a family’s ability to undertake the responsibility of a mortgage loan.

First, the burden of principal, interest, taxes, and insurance (PITI) must be 29 percent or less of the applicant gross monthly income.
Second, the total of monthly debts must be 41 percent or less of gross monthly income.

MORE INFORMATION

For more information on different mortgage loan types, purchases, refinances, blog posts, please visit us @ Tricont Mortgage www.tricontmortgage.com, Tricont Buzz www.tricontbuzz.com, Tricont Post www.tricont.posterous.com Tricont Blog www.tricontblog.com and Tricont Mortgage Blog www.tricontmortgage.blogspot.com before closing on your purchase or refinance mortgage loan….. I can be reach @ (803) 317-2500 or email me @ aomoregbee@tricontmortgage.com........Thank you very much and Welcome.

Hope we can earn your trust and help you with all your mortgage and financial need..... PLEASE LEASE US YOUR COMMENTS.

Part 2 of 3

USDA 100% LOANS REQUIREMENTS

To follow soon…..Thank you

Rates Drop @ Tricont

2012-01-15T22:08:00.001-05:00

Rate Drop @ Tricont
1) - If your mortgage, credit cards, auto loans, medical bills, etc. rates are 3% or higher, visit www.tricontmortgage.com or call (803) 317-2500, or complete our 3 easy steps product matching interview and take advantage of our "Low Rates Warehouse".

Name Your Own Rate
2) - Call (803) 317-2500 or visit us @ www.tricontmortgage.com for our 9 popularly acclaimed reasons people Tricont their mortgage loans every time

Tricont Promotions
3) - Free Credit Pulls & $100 - 500 off Closing Fees with Closed Loans time

WHY TRICONT YOUR MORTGAGE
4) - At Tricont, we have a "9 Popular Reasons people Tricont Their Mortgage Loans" every time. Click www.tricontmortgage.com to see for yourself, take advantage & THREE TIMES YOUR SAVINGS (3xYs) @ our LOW RATES WAREHOUSE. Email or call me @ aomoregbee@tricontmortgage.com (803) 317-2500

“Three Times Your Savings” Now @ Tricont Mortgage “Low Rates Warehouse”

Hope we can earn your trust and help you with all your mortgage and financial needs ..... PLEASE LEASE US YOUR COMMENTS.

Home Affordable Refinance Program (HARP) Allows Homeowners to Refinance into Today’s Low Interest Rates.

2011-12-18T00:19:00.018-05:00

On November 15th, 2011, Fannie Mae and Freddie Mac released guidelines for the Home Affordable Refinance Program (HARP). This comes less than a month after the October 24th announcement by The Federal Housing Finance Agency (FHFA) about expanding HARP.

The goal of expanding HARP in the new guidelines is to allow more borrowers who are behind on their home loans or who have little equity to be able to refinance at today’s low interest rates. Fannie Mae and Freddie Mac hope that this will:

Stabilize the housing market. A market that have seen frustration for a long time

Boost the economy by putting extra spending money in the pockets of consumers who are likely to spend them.

HARP BENEFITS FOR QUALIFIED HOMEOWNERS

Homeowners can refinance from now through December 31, 2013.
No maximum Loan to Value LTV is required (this applies to all homeowners refinancing into a fixed rate mortgage).
Homeowners refinancing into an adjustable rate mortgage can go up to a maximum LTV of 105%.
Appraisal is not required as long as an automated value can be determined.

At Tricont Mortgage, we are optimistic that these benefits will bring the much awaited relief to our borrowers. However, we are waiting for clarity on how the new HARP program will be implemented. The Fannie Mae and Freddie Mac November 15 announcements offer more encouragement for all borrowers with low to no equity on their homes.

There are approximately 4 million Fannie Mae and Freddie Mac borrowers with mortgages larger than today’s market values for their homes. Across the country, there are about 11 million homeowners or about 22.5% of all outstanding loans who have fallen behind on their loans, according to CoreLogic, a data provider to mortgage underwriters. Of these, about 2.4 million hold less than 5% equity in their homes.

WHAT IS HARP?

HARP is a Federal Housing Finance Agency (FHFA) program that allows homeowners facing difficulties refinancing their mortgage through conventional methods to apply for a refinance of their mortgage. Homeowners that are current with their monthly payments but are unable to refinance because of a drop in the market value of their homes are the ideal candidates for HARP program. HARP goal is to allow a homeowner to refinance their mortgage into a lower interest rate and monthly payment.

HARP ELIGIBILITY GUIDELINES:

The loan must be owned or guaranteed by Fannie Mae or Freddie Mac
The loan was sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
The loan was not refinanced under HARP previously, unless it is a Fannie Mae loan that was refinanced under HARP from March through May, 2009.
The loan’s current loan-to-value (LTV) is greater than 80%.
There is no loan-to-value cap in the new HARP for fixed-rate loans. Previous cap/limit was 125%. Fixed Rate refinance borrowers can now go beyond 125%. LTV
Loan on borrower’s property must be owned or guaranteed by Fannie Mae or Freddie Mac. Call us if you are not sure who own or is guaranteeing your mortgage (803) 317-2500
Borrowers must be current on their mortgage monthly payments at time of application. They can have one 30-day late payment in the past 12 months, as long as it is not within the last 6 months before application.
Borrowers must have a reasonable ability to pay the new mortgage monthly payments.
The refinance must improve the borrower’s long-term affordability or stability of the loan.

For details on this and/or other mortgage loan types, refinancing, blog posts, please visit us @ Tricont Mortgage www.tricontmortgage.com, Tricont Buzz www.tricontbuzz.com, Tricont Post www.tricont.posterous.com Tricont Blog www.tricontblog.com and Tricont Mortgage Blog www.tricontmortgage.blogspot.com before closing on your purchase or refinance mortgage loan.

Good luck on your investment and enjoy your house…..I can be reach @ (803) 317-2500 or email me @ aomoregbee@tricontmortgage.com........Thank you very much and Welcome.

Hope we can earn your trust and help you with all your mortgage and financial needs ..... PLEASE LEASE US YOUR COMMENTS.

Your 9 Popular Reasons to TRICONT your Next Mortgage Loans.

2011-12-17T00:20:00.003-05:00

- Get your Lowest Rates @ our "Low Rates Warehouse"
- "Three Times Your savings" (3xYs)
- "Name Your Own Fees and Rates"
- Get a "No Cost and Lowest Rates" mortgages
- Get Your Final Loan Approval within "72 Hours"
- Close Your Loan within "21 Days"
- Get a "No Down Payment" purchase mortgages
- Get a "No Closing Cost" mortgage Refinances
- Payoff (Consolidate) Your High Rates Debts

HELLO TRICONTNEERS

2011-11-21T16:04:00.003-05:00

Please allow me to take some of your time here to again introduce myself and my company. Tricont Mortgage is a Division of Tricont Financial Corporation. Tricont blog is one of our earlier media to try and connect with you our MVP (Most Valuable People). Besides the summary below, Tricont Mortgage prides itself on its rich quality, tradition, culture and above all its relationship with you, our MVP. Please take some time to visit us @ www.tricontmortgage.com or simply call (803) 317-2500 or email us @ clientcare@tricontmortgage.com for detail about our company…….Thank you very much.

WHO I AM & WHY PEOPLE TRUST ME

2011-11-21T16:03:00.007-05:00

My name is Aideyan Omoregbee. I moved from New York to the Carolinas in 2007. With the move, my contacts and reputation in the mortgage industry was left In New York, I was very well-regarded in my community, to mortgage consumers, my peers and other industry leaders.

Since starting as a mortgage loan officer in 1996, I have worked for only four companies before joining Tricont mortgage. For the 11 years I worked as a Loan Officer in New York, I never had to seek a job but was constantly approached by banks and other mortgage companies in need of my service.

I was very successful because I treated my customers as I would treat my mother, as my MVP (most valuable person). I won top national awards at Bank of America and at Fidelity Mortgage where I won the national Eagle and other bank awards year after year. When I moved to the Carolinas, I was surprised by the way banks and mortgage company’s owners and loan officers treat their customers. I couldn’t fit in and didn’t want to.

As luck would have it, I ended up here at Tricont Mortgage. Tricont Mortgage lends and prides itself as a place where good relationship, respect and treatment of our customers not only matters but really does come first. I hope I will be able to retire here. ……..Thank you very much.

TRICONT COMPANY PROFILE

2011-11-21T10:36:00.008-05:00

TFC Tricont Mortgage, the designer and publisher of “Low Rate Warehouse” & “Three Times Your Savings” is a nation’s #1 place’, consumers go to take advantage of the lowest no costs, no down payments, low fees and the lowest rates in the mortgage industry by completing a 3 easy steps product matching interview.

Tricont Mortgage, is also a nation’s premier home for quality no closing costs, no down payments and low rates refinances, purchases, Home Equities, Commercials, Reverse Mortgages, VA loans, FHA Mortgages, USDA Mortgages, Government Loans and Mortgages, Interest Only Mortgages, Jumbo Mortgages, Balloon Mortgages Loans, Home mortgages, First time Homebuyers Programs and Debt Consolidation mortgages.

Tricont Mortgage specializes in mortgage lending products ranging from Conventional Mortgages, Residential Mortgage Loans, Fort Mill SC Mortgages, Home Equities Mortgages, Commercial Loans, Debt Consolidations, SC Mortgages, Fixed and Adjustable Rates Mortgages, My Community 100 & 97, Etc.

Tricont Mortgage is a one stop refinance, purchase, home equity, commercial, Government and debts consolidation mortgage provider with a relationship with many, many lenders nationwide that enable us to three times the savings of our refinancing, purchasing, home equity or debts consolidation customers with the lowest fees and rates every time.

WHAT MAKE TRICONT DIFFERENT FROM OTHER MORTGAGE LOANS LENDERS IN THE COUNTRY

At Tricont, we have a “9 Popular Reasons people Tricont Their Mortgage Loans” every time. Click www.tricontmortgage.com to see for yourself, take advantage and “Three Times Your Savings” (3xYs) at our “Low Rates Warehouse”. You may also email or call me @ aomoregbee@tricontmortgage.com / (803) 317-2500.

USDA Rural Home Loans is Booming throughout South Carolina

2011-11-15T12:38:00.009-05:00

With a USDA loan program, an individual or family may borrow up to 100% of the appraised value of the home.
NOTE: Many USDA loans are available with:

· No Money Down.

· No Mortgage Insurance

· Affordable by Low Income Borrowers

· Come with Low Monthly Mortgage Payments.

· Borrower only Needs 620 Credit Score

For details on this and/or other mortgage loan types, please visit/email us @ www.tricontmortgage.com / aomoregbee@tricontmortgage.com or call us @ 803) 317-2500

Dealing with Debt Collectors

2011-11-06T11:56:00.002-05:00

Sometimes life throws us a curve ball when we least expect it. This video by the FTC is a good teaching on how to deal with debt collectors. Take a few minutes to listen: http://www.youtube.com/watch?feature=player_detailpage&v=Yv-I-x-X6gk

For OTHER financial or mortgage needs, please call us @ (803) 317-2500 or visit our website @ http://www.tricontmortgage.com/ to obtain a no closing costs, no down payments and a low, low rate mortgage to "Three Times Your Savings" at our "Low Rates Warehouse"

Don’t Forget to Change Your Clocks This Weekend

2011-11-05T10:57:00.004-04:00

On Sunday, Daylight Saving Time officially ends at 2:00 a.m. local time. You’ll need to set your clock back one hour to adjust for the change.

Daylight Saving Time ends on the first Sunday of November, and begins on the second Sunday in March. Not all places in the United States observe Daylight Saving Time. In particular, Hawaii and most of Arizona do not use it, so if you live in those areas, you don’t have to change your clocks.

Standard time was instituted in the United States and Canada by the railroads in 1883, however, Daylight Saving Time was not established in U.S. law until the Act of March 19, 1918, sometimes called the Standard Time Act.

Obama 125% FHFA Refinance Program

2011-10-25T03:07:00.002-04:00

Good news for homeowners with mortgages greater than their home present appraised values. With Obama FHFA program, you can now refinance your home for up to 125% of its present value. Click here http://www.bloomberg.com/news/2011-10-24/obama-said-to-promote-changes-for-home-loan-refinance-in-nevada.html for detail.......Thank you

Note......the plan is now before congress for passage.

Tri-Savings at Tricont

2011-09-24T15:56:00.005-04:00

Did You Know? Tricont Mortgage is offering:

Free Credit Pulls with closed loans.
$100 – 500 off your closing costs with closed loans.
A “customer’s right” to request a house visit for applications.

All loans are closed at your home or a place of your choice.
-Afa Omoregbee
.

Low Rates Warehouse Launched

2011-02-12T23:34:00.003-05:00

TFC Tricont Mortgage has just launched an engine called “Low Rate Warehouse” for consumers to take advantage of the lowest mortgage fees & rates in the mortgage industry and “Three Times Their Savings” at the same time. Visit http://www.tricontmortgage.com/ to see for yourself. Thanks again for visiting us.
February, 11 2011

Homeowner's Emergency.......

2011-01-14T00:06:00.003-05:00

Homeowners EMS

***If your mortgage, credit cards, car loans, etc interest rate(s) is/are 3% or higher, you need to call a Mortgage Client Advisor at TFC Tricont Mortgage, A Division of Tricont Financial Corporation and Take advantage of our "Three Times Your Savings" “3xYs” program......... Call us at ***(803) 317-2500 or email/visit our website at *** www.tricontmortgage.com to complete our 3 easy steps mortgage questionnaire and we will be happy to call you back. Together, we will build the bridge to your world......Thank you