FHA's NEW LOAN PROGRAM OFFERS "NO FREE LUNCH"

    /24-7PressRelease/ - PEORIA, IL, September 05, 2007 - Laure Feld, President of American Mortgage Lending, Inc announced on Friday (August 31st) that she has been notified by The Federal Housing Authority (FHA) of a new program called "FHA Secure" that she can offer immediately to homeowners who are having trouble making mortgage payments as a result of ARMs (Adjustable Rate Mortgages).

Feld's company has never recommended ARMs or other so called "toxic" mortgages and she has spent most of her time in the mortgage business helping her clients finance out of these programs.

This is not a "free money" program where the Government is handing out cash. The FHA program is insured by an "up front mortgage insurance premium" as well as monthly PMI (Private Mortgage Insurance) which builds a segregated fund for use in the event of default or foreclosure.

The "FHA Secure" program is available to mortgage holders who have at least 3 percent equity, continuing employment history and a good record of payment prior to the ARM increase in interest and payments. The program will re-finance these homeowners into conventional, fixed rate loans and rates of 7% or less.

Feld expects a huge demand for this product and encourages ARM holders seeking relief to call her office at 309-688-LOAN (5626) as soon as possible. While other brokers and banks may also offer this FHA product, Feld specializes in placing clients in Government Guaranteed, or Government backed loans and has a higher success ratio of qualifying clients for these programs than most brokers and banks.

For more information, contact Laure Feld at 309-688-LOAN (5626). [email][email protected][email] American Mortgage Lending, Inc has offices at 3709 N. Sheridan in Peoria Illinois. [URL]http://www.financelady.net[url]

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