Everything I read is that you are trying to help people like me with a adjustable loan ready to adjust in a couple of months,but these Mortgage Companies who are offering these FHA loans are making it impossible for even people who have paid their loan on time never missing a payment to get these loans.

Our mortgage will increase to 600.00 more making it really difficult for my wife and I .I am on Social Security Disability ,and if we can’t get a FHA loan we could be possibly facing foreclosure.This is the second Mortgage company telling us we where approved and FHA loan only to come up with some lame accuse why they can’t close the loan.The last one told us that my wife needed to make 35.000,and she did this year a year ,but they said she only made 30.000 in 2006.What I read today on line that hardly anyone is being approved for these loans causing foreclosures through out our nation.

If possible after reviewing attached appraisal and you feel it can be used ,could you call Ocean Side Mortgage to tell them the loan can be approved with this appraisal.

The owners name is Steven Stone .His number is 609-994-3496 extension 14.His cell is 732-616-0876.This company has made the loan process very drug out and stressful and has taking a toll on my wife and I physically and mentally heath ,as I am disabled already. Please forward this to anyone that may be able to help us. Thank you .Ken and Cindy Tedesco. Phone number 856-222-0280 or cell 609-502-2091

“A day after the Federal Reserve disappointed investors with a modest cut in interest rates, central banks in North America and Europe on Wednesday announced the most aggressive infusion of capital into the banking system since the terrorist attacks of September 2001.”

“Economists said the move was intended to deal with specific problems in the interbank lending market and would not allay the biggest problems in the credit markets related to the weakening American housing market, where prices are falling and defaults and foreclosures are rising.”

“Central bank officials first discussed the plan as early as September, but discussions were put aside when markets appeared to stabilize in October. They were revived this month in conference calls among officials of several nations.”

THIS PART IS VERY INTERESTING:

“When markets are functioning properly, banks easily and regularly borrow money from each other at rates that are only slightly higher than what the United States government, considered one of the world\’e2\’80\’99s safest borrowers, pays when it issues Treasury bills. Like homeowners who borrow against the value of their property, banks borrow against the securities they own. But with markets increasingly uncertain about the quality of banks\’e2\’80\’99 holdings, lending between banks has slowed and become more expensive. Banks are also less likely to extend loans because they need to hold more capital on their books.”

Read the full article here:

http://www.nytimes.com/2007/12/13/business/13fed.html?pagewanted=1&th&emc=th