Comments on: IRRRL- Interest Rate Reduction Refinance Loan http://www.aridni.com/managing-finances/irrrl-interest-rate-reduction-refinance-loan People are cashing in all around you, don't you think it's your turn? Mon, 06 Feb 2012 08:59:37 +0000 hourly 1 http://wordpress.org/?v=3.3 By: mike http://www.aridni.com/managing-finances/irrrl-interest-rate-reduction-refinance-loan/comment-page-1#comment-121295 mike Sun, 17 Aug 2008 23:43:34 +0000 http://aridni.com/2008/02/irrrl-interest-rate-reduction-refinance-loan/#comment-121295 I am sorry to e-mail each of you, but if you do VA loans, this could adversely affect you. VAs ability to guarantee Hybrid Adjustable Rate Mortgages expires 9/30/08. Funding is being pulled by Wells Fargo as of Monday for these loans. As soon as other lenders realize this is occurring they will follow suit. My company deals almost 100% with veterans and we are being told that we have to wait for congress to pass pending bills to extend VAs abililty to guarantee these loans. There is currently 1 bill with the House H.R. 6465 and 1 bill with the Senate S.3299 that has been introduced, but we have a very short time before we can no longer fund these loans. I am hoping that someone has contact info for Ginny Brown-Waite as she introduced the bill in the House or John Ensign who introduced the Bill to the Senate or Sherrod Brown who co-sponsored the bill in the Senate. I checked the GovTrack.us website and there are 100+ bills that still need to be reviewed when they return on 9/8 and am concerned that this matter has been overlooked due to the housing crisis. There must be something we can do to bring this to light as there is absolutely no national coverage on the fact that the bill that the 108 congress passed (Veterans Benefits Improvement Act of 2004) expires 9/30/2008. Any information or help or just bringing this light would be greatly appreciated. I am sorry to e-mail each of you, but if you do VA loans, this could adversely affect you.
VAs ability to guarantee Hybrid Adjustable Rate Mortgages expires
9/30/08. Funding is being pulled by Wells Fargo as of Monday for these
loans. As soon as other lenders realize this is occurring they will follow
suit. My company deals almost 100% with veterans and we are being told that
we have to wait for congress to pass pending bills to extend VAs abililty to
guarantee these loans. There is currently 1 bill with the House H.R. 6465
and 1 bill with the Senate S.3299 that has been introduced, but we have a
very short time before we can no longer fund these loans. I am hoping that
someone has contact info for Ginny Brown-Waite as she introduced the bill in
the House or John Ensign who introduced the Bill to the Senate or Sherrod
Brown who co-sponsored the bill in the Senate. I checked the GovTrack.us
website and there are 100+ bills that still need to be reviewed when they
return on 9/8 and am concerned that this matter has been overlooked due to
the housing crisis. There must be something we can do to bring this to
light as there is absolutely no national coverage on the fact that the bill
that the 108 congress passed (Veterans Benefits Improvement Act of 2004)
expires 9/30/2008.

Any information or help or just bringing this light would be greatly
appreciated.

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