It is my duty as a Mortgage Banker to inform you of changes ahead that can possibly affect some of you - Those of you who currently hold a (IO) Interest Only Loan need to realize that you are sitiing on a dinosaur in the Home Loan Product Industry.To be direct your loan will most likely no longer be available by summer 2010.If you were one of the unlucky ones 5 - 7 years ago who listened to your Mortgage Broker and went along with his suggestion not only do you still owe the same on your mortgage as you did many years ago but your home most likley has dropped in value too  !!! Again listen to me please because I don’t know what I’ll be doing around Labor Day, but Freddie Mac will be eliminating its Interest Only product. the company announced that on or about September 1, it will cease purchasing and securitizing (IO) mortgages, including Freddie Mac Initial Interest fixed-rate and adjustable-rate mortgages. As agents and brokers know, what Fannie or Freddie do, the other usually follows, and with them, most investors. This will leave portfolio and hard money lenders as the only entities possibly offering IO products by late summer.Please call me now so I can help .... I would even be willing to drop my fees just to get you out of that product and hope you will even up with me once your new loan is paid down.

Thank you !!

Jeffrey Martino Young  - Toll Free # 1(800) 784-0196