Gs4 Security: Car Payment Calculator

Monday, 17 December 2012

Car Payment Calculator

With the loan modification calculator, you will be able to tell if you qualify and find out what your new payment would be. This is a great little free tool that only takes a few seconds to use.The guidelines for the calculator are the Obama mortgage plan guidelines. Under these guidelines, homeowners mortgage payments will be capped off at 31% of their net monthly income. This is accomplished by lowering your interest rate to as low as 2%, extending the terms of your loan and reducing the principal balance. Don't get your hopes up for a balance reduction, usually the first two options take care of the payment cap. The thing to remember is that your payments are going to go way down and you will be able to afford your home once again.Also, if you are in danger of losing your home to foreclosure, this plan will help. When you get approved, it takes some time to work out the paperwork, but your lender will not be able to foreclose on your home for 90 days. So, if you are WAY behind on your payments and scared about losing your home,