Las Vegas, NV (PRWEB) January 5, 2010
At a time when one in five American mortgages are upside down in worth, an investment group is offering homeowners a unique new answer.

Pegasus Investor Group, LLC, is launching a new service offered at mortgage reduction, which purchases homeowners’ mortgages and refinances them so that property owners end up owing significantly less than market place worth on their home – which is a lifesaver to the millions of homeowners who at the moment owe more on their residences then their residences are worth.

Based on the house and the terms of the loan, the homeowners could find themselves owing tens or even hundreds of thousands of dollars less on their mortgage beneath the terms of their new loan.

“The new mortgage will be for 60 % to 95 % of the market place value of the property, which will permit the homeowner to commence building equity in their house and also will considerably decrease monthly mortgage payments,” explains Carlos J. Acosta Jr., managing general partner of Pegasus Investor Group, LLC.

Their mortgage reduction program doesn’t involve tricks like stretching the loan out to 40 years and it doesn’t require ideal credit. It’s a conventional 30 year loan, offered even to home owners with less than ideal credit and with missed mortgage payments.

The plan also is not a loan modification only a extremely small percentage of loan modification attempts function, so they aren’t a practical answer for most distressed homeowners, Acosta explains.

A standard example of how Acosta’s program performs would be:

A individual who owes $ 300,000 on their home, but the home is now worth only $ 200,000. Pegasus Investor Group, LLC, pays off the note (they do not own the deed to the property) and establishes new terms with a new mortgage balance of $ 190k, saving the homeowner $ 110,000 and created $ 10,000 in instant equity.

Acosta’s group is generating a new style of true estate investment which, alternatively of taking benefit of distressed homeowners by snapping up their properties after foreclosure, really advantages both homeowner and investor.

They do this by working with government agencies like the F.H.A. and Ginnie Mae, and make their profit by in the end reselling the refinanced loans to other agencies. The homeowner ends up owing significantly less income on their home and paying a reduce month-to-month mortgage payment, and Pegasus Investor Group LLC earnings by reselling the loan.

Pegasus is capable to negotiate with the bank in bulk quantities, which enables them to get massive discount on the homeowner’s note.

“This is a scenario exactly where everyone wins,” Acosta explained. “We weren’t interested in making a profit by exploiting folks and taking their properties. We want to assist individuals stay in their properties and rebuild their finances and their credit, and that is what this program does. It genuinely is a win-win solution for everyone.”

These searching for more information about the new plan could pay a visit to mortgage reduction.

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