FFFC MONSTA MORTGAGE NEWZZZ // FastFunds Financial

New Post Public Reply Private Reply Replies (1) Message Board

Apr 4, 2013 at 9:32 AM

FFFC >> MONSTA MORTGAGE NEWZZZ // FastFunds Financial Corporation and Net Life Holdings See New Mortgage Product Requiring No Credit Verification Suited for the Large Demographic Group of Boomerang Buyers
Boomerang Buyers Estimated at Approximately 6 Million

Press Release: FastFunds Financial Corp. – 10 minutes ago
Email
RecommendTweet
Print
RELATED QUOTES
Symbol Price Change
FFFC 0.0055

WEST PALM BEACH, FL--(Marketwired - Apr 4, 2013) - FastFunds Financial Corporation (OTCQB: FFFC) and Net Life Holdings reported today that its new innovative mortgage product will target the large demographic group of boomerang buyers, estimated at more than 6 million. These are previous homeowners who have experienced foreclosures, short sales and deed in lieu of foreclosure circumstances in their past. These buyers are referred to as boomerang buyers; people who bounce back from losing their previous home to become homeowners again.
The various government agencies have waiting periods for buyers who previously lost their home due to a foreclosure or similar event:
The waiting period for a Federal Housing Administration (FHA) Loan is 3 years for Foreclosure, 3 years for Short Sale, and 3 years for a Deed in lieu of foreclosure.
The waiting period for a FHA Loan if there were extenuating circumstances is 1-2 years for Foreclosure, and 1-2 years for a Deed in lieu of foreclosure.
The waiting period for a Fannie Mae or Freddie Mac is 7 years for Foreclosure.
The waiting period for a Fannie Mae or Freddie Mac, less than 10% down is 7 years for Short Sale, and 7 years for a Deed in lieu of foreclosure.
The waiting period for a Fannie Mae or Freddie Mac, 10% down is 4 years for Short Sale, and 4 years for a Deed in lieu of foreclosure.
The waiting period for a Fannie Mae or Freddie Mac, 20% down is 2 years for Short Sale, and 2 years for a Deed in lieu of foreclosure.
It is also estimated that nearly 3.4 million households potentially could qualify for an FHA loan because it's been three years since the loss of their home, but many people still do not have the sufficient credit to get a loan.
The Company believes the NET LIFE LCMO® (Life Collateralized Mortgage Obligation) could substantially improve the boomerang buyer get back into a new home and help alleviate America's banking and mortgage crisis. A NET LIFE LCMO® is a residential, business or corporate real estate mortgage which is not based on credit history; only on the collateral. All that is required for which to qualify is: (a.) that you are healthy, (b.) that the property maintains and sustains its stated value and (c.) that you have the income to pay your mortgage.
About FastFunds Financial Corporation
FastFunds Financial Corporation is a holding company that is publicly traded on the Over-the-Counter QB under the symbol "FFFC." The Company currently operates in the financial services industry segment with a single credit card services portfolio. The Company is currently seeking new business opportunities to diversify and complement our current services and products, enhance our technical capabilities or otherwise offer growth opportunities for our stockholders.
About NET LIFE
NET LIFE Financial Processing, Inc., a wholly owned subsidiary of FFFC, is a development stage company formed in 2013 and recently acquired the assets related to the processing and servicing of loans generated from NET LIFE Financial Holdings Trust (www.netlifefinancial.com). NET LIFE Holdings has developed unique financial products principally for the mortgage industry.
FORWARD-LOOKING STATEMENTS
This news release may include "forward-looking statements" regarding FastFunds Financial Corporation, and its subsidiaries, business and project plans. Such forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections. Where FastFunds Financial Corporation expresses or implies an expectation or belief as to future events or results, such expectation or belief is believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. FastFunds Financial Corporation does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contact:
For Further Information
Net Life Holdings
support@netlifefinancial.com

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Quantum Sky's Strategic Leadership Overhaul Targets Growth

Executive Shake-Up Aims for Stronger Federal Market Alignment Buckle up, folks—there's some major chess-piecing happening at Quantum Sky. They've just named not one or two, but three executive bigwigs to head up their core business groups. This isn’t just some ceremonial reshuffle. Nah, it’s bigger. They're redefining how they tackle the Department of War, Intel &...

CATL Opens Europe's Largest Battery Service Hub

A New Era for EV Batteries in Norway Stepping into Oslo's tech realm, CATL's grand opening is not just another corporate ribbon-cutting spree. It's a big splash in Europe's battery pool, boasting the largest NING SERVICE center outside of Asia. Here we are, folks, at the crossroads where the EV market meets the nitty-gritty of practical service. Norway's Electric...

United Apartment Group's Leadership Revamp Signals Growth

A Bold Leadership Expansion Big moves are afoot at United Apartment Group (UAG). They're not just refilling some roles here; they're rebooting their lineup with serious hitters—Woody Stone and Lenzie O’Connor are now steering the ship on business development and client services, eager to drive the company to new heights. Woody Stone: Fueled by Experience Stone isn't...

Unicycive's Legal Turmoil: Opportunity for Investor Action

Unicycive's Legal Headache: What's Brewing? Here we go again, folks. If you're holding shares of Unicycive Therapeutics, Inc. (UNCY), buckle up because it's looking like a storm's on the horizon. The Law Offices of Howard G. Smith have dropped the news that shareholders can step up to lead a securities fraud class action lawsuit against the company. That chance to be part...

Brands Must Choose: Cost or Value Leadership?

Navigating the Business Jungle: Strategic Choices Unveiled If you've ever found yourself tangled in a web of corporate doublespeak, then you'll nod along with this: all those lofty brand management strategies often boil down to a fight over dollars or dizzying customer satisfaction. What's the winning play? According to Info-Tech Research Group, it's about firmly standing...

Spotlight on AI-Powered Smart Homes for 2027

Gearing Up for the Connected Home Revolution Ah, the thrill of peering into the future of smart homes! That's what's cookin' as Parks Associates gears up for its annual CONNECTIONS™ Conference slated for May 4-6, 2027. This isn't just another routine pow-wow. Nope, this get-together is about seeing who's leading the pack in transforming our everyday spaces into...

AMD CEO, Global Leaders Converge At IMPERIA Summit

A Clash of Giants in New York The trade floors are buzzing in New York as the world's economic heavyweights and tech titans gather for the inaugural IMPERIA Summit. You can almost smell the pressure and ambition wafting through the streets when folks like AMD's CEO, Lisa Su, share the stage with geopolitical power players like President Trump and China's President Xi...

Starr Conspiracy Unveils AI Tool for B2B Tech Firms

AI-Driven Insight in Minutes: A Game Changer for B2B Hold onto your hats, because The Starr Conspiracy just lit a fire in the B2B tech world with its latest offering—Battle Card Builder. This free tool cranks out competitive intelligence in no time, literally about four minutes. Geared specifically for B2B tech marketing and sales teams, it combines decades of know-how...

Retirement Security Faces Global Headwinds in 2026

Grappling with an Uncertain Retirement Future Welcome to the 2026 Global Retirement Index (GRI), where it seems we're all being told to brace for a rough retirement ride. This year's results, crafted by Natixis Investment Managers and their pals at CoreData Research, spotlight just how shaky the ground has gotten. The core troublemakers? Aging populations, whopping public...

Lincoln Educational Services Faces Securities Fraud Suit

A Storm Brews Over Lincoln Educational Services You know, there's nothing quite like the stink of a good mess in the markets, and Lincoln Educational Services Corporation has found itself knee-deep in one. The buzz is all about some securities fraud allegations that could rope in a bunch of investors who got the short end of the stick. It’s lawsuits like these that make...