Dead Sea sinkholes - Are you in one?

updated 4:29 p.m. CT, Sun., June 21, 2009

EIN GEDI, Israel - Eli Raz was peering into a narrow hole in the Dead Sea shore when the earth opened up and swallowed him. Fearing he would never be found alive, he scribbled his will on an old postcard.

After 14 hours a search party pulled him from the 10-meter-(30 foot-) deep hole unhurt, and five years later the 69-year-old geologist is working to save others from a similar fate, leading an effort to map the sinkholes that are spreading on the banks of the fabled saltwater lake.

These underground craters can open up in an instant, sucking in whatever lies above and leaving the surrounding area looking like an earthquake zone.

Are you in a sinkhole with your current mortgage?

Refinancing relief for customers with on-time payments
The newly developed Making Home Affordable program is part of President Obama’s strategy
to get the economy back on track. One part of this program, the Home Affordable Refinance
program, can help eligible homeowners refinance their mortgage to obtain a lower rate, lower
payment or more stable product (e.g., switching from an adjustable-rate to a fixed-rate mortgage).

Are you eligible for a Home Affordable Refinance?
If you have a consistent history of paying your existing mortgage on time, but have had
challenges refinancing due to market conditions, then you may be able to take advantage
of a lower mortgage rate or payment through this program.
Please refer to the checklist below for eligibility requirements.

__ I am current on my mortgage.
__ My property is a single-family dwelling or a 2-4 unit attached dwelling.
__ This is my primary residence, second home or an investment property.
__ I have income to support the new monthly payments.
__ I can obtain a lower interest rate, a lower monthly payment or a more stable loan
product (e.g., switching from an adjustable rate to a fixed rate) by refinancing.
__ I have not been able to qualify for a loan refinance previously becuase I owe more on my
mortgage than the current value of my home.
__ I understand that loan limits up to $417,000 ($729,750 in certain areas) apply.
__ My loan must be owned by Fannie Mae or Freddie Mac.

As your Loan Consultant, I can help you work through additional provisions of this program – for
example, appraisal requirements, and finding out who services your current mortgage –
to see if you qualify for the Home Affordable Refinance Programor another refinance option.

If you have questions about the Home Affordable Refinance Program – or to discuss other
home financing opportunities, click here!