"You Could Get Cheated And Ripped Off On Your Next Refinance And You Can Lose AT LEAST $8,000 If You Are Buying A Home Without Reading This FREE Insider Tips & Secrets Report About Connecticut FHA Mortgages"

Dear Neighbor,

What the heck is going on? Everyday on the news all you hear is gloom and doom about the real estate, mortgage and housing markets. We are constantly bombarded with messages of how thousands of people are losing their homes, jobs and now just the other week I received the memo that we are officially in a recession (regardless of what the politicians are saying).  How in the world can anyone make a clear decision about refinancing or buying a home based on all of the negative news we are seeing all around us? Furthermore....

How do we protect our finances and family in this crazy economy?

Well my name is Chris Rivers and I have been a mortgage professional for the last five years and I also live in Connecticut so I know that times are tough and that we are paying through the nose for gas, oil and food. To be honest with you if you aren't looking for every possible way to save more of your money or invest it in a safe place then I want some of the ice tea you are sipping on! 

You must save every possible dollar that you can in this expensive state of ours!

Over the last five years I have helped many people take the first step towards financial freedom through purchasing a home and have helped many more have peace of mind by ditching their adjustable rate mortgage and save thousands of dollars per month by refinancing into lower fixed rate mortgage.

Here's what I've done for so many of our neighbors, and I am now offering to do the same for you!

• Show you how to get a unbelievable low interest rate on up to a $700,000 mortgage even if you don't have a 700 credit score. No longer do you have to get a 9% jumbo mortgage rate!

• I'll show you how to get up to tens of thousands of dollars in FREE money when buying a home! (and no I'm not talking about a seller's concession...I'm talking about FREE money!)

• How to wipe out all your credit card balances! Without bankruptcy, credit counseling, or damaging your credit in any way! You'll even get better rates and higher limits as a result!

• How to get 2 months no bills to pay to anyone! No mortgage, no car notes, no credit cards! Just think what that'll save you! Some save as much as $7,635.24 right there alone!

• I'll wipe out your car loans! And hand your car titles to you free and clear! No more car payment! Now you can say "it's paid for!".

• I'll save you hundreds to thousands of dollars every month! Money you now throw down the toilet! And not only that, but you'll live better than you do now! This is no "coupon clipping" type of thing!

• I'll get you as much as $100,000.00 in CASH! While still saving you money each month! I've even gotten folks more than that in the past! Some "only" want $10,000.00 in cash, or none at all. Hey, it's your choice...just tell me which way you want it!

• I'll scour your credit! And boost your "credit score!" In less than 57 days! No sweat! (By the way, did you know that every creditor now discriminates against you by a computerized credit score?  If you're not using my SECRET tactics to keep that score up, then you're throwing away thousands of dollars a year in unnecessary interest charges!)
  
  (And a lot more I can't tell you about here and now! Call me at (203) 483-0061 for the rest of the story!

I have been able to help families because I separate fact from fiction about the widely popular FHA mortgages. In this report I reveal the insider secrets about FHA programs that thousands of families all over the nation have quietly been using for years to get five and six percent interest rates without having great credit scores.

Keep reading the information below, but if you want to go ahead and get pre-qualified for your lower interest rate and eliminate your debts or buy your first home give me a call right now and I will have an answer for you within 48 hours. You can reach me at 203-483-0061 and ask for Chris Rivers.  I promise to be down to earth, simple and honest with you about where you stand.

Alright that's enough of that so let’s jump right in…

FREE REPORT

Myth and Fact About Connecticut FHA Mortgages: Don’t Believe The Hype!

If you listen to all the confusing babble and talk on TV or the radio you then it’s no wonder that people don’t know if they really can qualify for a FHA mortgage or not. So below I break down the myths and facts that I commonly hear about FHA mortgages.

Myth #1 - The Government Loans The Connecticut FHA Mortgage Money

The first common myth of FHA loans is that the US government's Federal Assistance Mortgage (FHA) program actually loans out money.

This isn't the case.

FHA is an insurance program. An FHA loan is simply a bank/credit union loan that is backed by a guarantee from the government. If you fail to pay the mortgage, the government guarantees that they will repay the bank instead. Because of this guarantee, the bank's lending requirements used to be much more friendly, because they're taking less risk.

Myth #2 - Your Credit Doesn't Matter Much With A Connecticut FHA Mortgage

This is half myth, half truth.

Let me explain. While technically FHA rules state that they won't base your loan on your FICO score alone, lenders have the ultimate decision on their credit score requirements.  (Remember I said earlier that FHA is an insurance program that lenders use...FHA is not a mortgage lender) Unfortunately over the last couple of month's I have seen hardworking families that have perfect payment history on their credit reports for the previous 24 to 36 months get turned down for a mortgage because they have a 579 middle credit score!

This is ridiculous that banks do that to honest folks.

The real advantage that FHA gives lenders and you with your credit is that they allow you to be approved with as low as a 580 middle credit score and will qualify you for up to 95% on a refinance or 97% on a home purchase. HOWEVER, your payment history must be perfect over the last 24 - 36 months with all collections and charge-offs being paid. 

Myth #3 - An Connecticut FHA Mortgage is a Better Deal

While it's true that an FHA loan entails less risk for banking institutions and therefore they can charge less, an FHA loan may not always be a better deal for you as the borrower.

The reason why is because FHA is designed to be a self-sustaining institution, and therefore has to make money as well, in the form of insurance paid to the FHA which can increase the monthly payment.

Regardless of what program you choose research and comparison for conventional mortgages is necessary to be sure whether FHA is for you or not. Don't worry if you want to compare both because I can do a comparison chart for you.

Myth #4 - Connecticut FHA mortgages take longer to get approved.

I can't believe people are still falling for this one. The truth is that in today's world of automated underwriting and paperless processing, FHA loans take no longer than conventional loans to close if you are being helped by a loan officer who understands FHA loans.

The real secret to cut the time in half is to be prepared when you begin the buying or refinance process.  You don't want to spend two weeks waiting on a duplicate W2 because you can't find your secret shoe box that you use for storage.

Myth #5 - Connecticut FHA mortgages require a lot of extra paperwork.

The documentation required for an FHA loan is almost exactly the same as that required for a conventional loan. FHA requires only a few extra documents more than a conventional loan, and the extra documents that FHA requires take little extra time and are there to protect you during the process.

The way I see it, even if FHA required twenty more pages of documents (which FHA doesn't) the monthly savings, equity and peace of mind that you would enjoy for the next 15 to 30 years would be well worth it.

Myth #6 - Connecticut FHA mortgages cost more than conventional loans.

Rubbish...FHA loan interest rates are based upon the same market factors that conventional rates are based on. As a matter of fact, even when considering the FHA mortgage insurance premiums added to your payment, FHA loans are often less expensive than conventional mortgages especially for first time borrowers and borrowers with past credit issues and low scores.

Let me see you walk into a regular bank with a 600 credit score and see if you qualify for their 6% interest rate on a thirty year fixed.  Heck...with a 600 credit score these days you will be lucky if a conventional lender even has ANY program.

Myth #7 - Connecticut FHA mortgages require mortgage insurance which is too expensive.

All mortgages above 80% of the value of the property being financed require mortgage insurance which pays off a portion of the loan if the borrower defaults. Prior to the invention of mortgage insurance programs, lenders all required 20 percent down payments to obtain a mortgage.

This is actually very inexpensive compared to conventional mortgage
insurance rates which took effect October 1, 2007 which can require almost 3% per year in mortgage insurance to be added to the typical borrower with lower credit scores!

Myth #8 - Connecticut FHA mortgages have very restrictive guidelines.

In fact, the exact opposite is true in many respects. FHA loans have higher maximum loan amounts and they don't have the income restrictions placed on Fannie Mae and Freddie Mac community lending products. Getting an FHA loan with limited or no credit history, or credit problems is much easier than obtaining a conventional mortgage. FHA allows for manual underwriting. This means that if the automated underwriting system does not approve your loan, an underwriter can actually look at your file and determine if common sense dictates that you
would be able to afford the mortgage.

The underwriter can approve your loan even if the automated system turned it down. Manual underwriting is common for FHA loans and very rare for conventional loans. In addition, if interest rates go lower, FHA loans allow for a streamlined, no re-qualifying refinance process.

"Some people 'doubt' me! Well they are the ones who are in a worse spot than they were last month!"

If you're unsure, then there's only one thing to do! Call me right now at (203) 483-0061!

I look so forward to helping you too!

Sincerely yours,

Chris Rivers

Chrysalis Funding of Connecticut
150 W. Main Street
Branford, CT 06405

Phone: (203) 483-0061
Fax: (203) 488-7519