• 10

    Feb

    Mortgage, refinancing & Debt Solution

    As the mortgage crisis continues and you begin to look for a solution to be able to keep up with your mortgage payments and your beginning to realize that it’s becoming next to impossible. You start to prioritize your bills and you slowly start to fall behind on your credit card payments. You start scrambling for a solution and you cant seem to stay afloat any longer. You know you need to keep your mortgage and secured debts current, but cant afford the alarming interest rates that your credit card companies are charging you each month. So you sit down and start to prioritize your bills and quickly come to the realization that something needs to be done soon or your about to drown. If you haven’t thought about Debt Consolidation as a way out, then now is the time. If your prim
  • 9

    Feb

    U.S. banks in trouble

    In recent times, the status of our economy has really been questioned. From the weakening of the American dollar to an increasing amount of debt, the countries current financial crisis has continued to dwell and even breed. Now, in recent weeks, concerns are being rose up about the status of our banks. From local institutions to corporate lending companies, companies are feeling the effect all across the board. One of the nations largest companies to close in recent history, Indymac, symbolizes the sorry state of our economy and the dwindling industry. This company contained almost 32 billion dollars in assets off of savings and loans accounts. In addition to, it was also connected to the Countrywide Financial Corporation. Such a giant taking a K.O is not good news for us American citizen
  • 8

    Feb

    Let the lawsuits Beginning - Banks prepare for the storm Litigation

    In an article in The San Francisco Chronicle in December 2007, attorney Sean Olender suggested that the real reason for the subprime bailout schemes being proposed by the U.S. Treasury Department was not to keep strapped borrowers in their homes so much as to stave off a spate of lawsuits against the banks. The plan then on the table was an interest rate freeze on a limited number of subprime loans. Olender wrote: “The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth. The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual
  • 8

    Feb

    Cheap houses: the government seizure of Homes For The Taking

    There is no better way to acquire you property than buying off from cheap government repo homes. This is simply a trend in the U.S. where people want to purchase real estate thru the help of the government. Imagine a hefty 20 percent off the price tag on the market. From time to time, the government auctions a lot which have been foreclosed due to the owner’s inability to pay for the mortgage. This might sound a little awkward in purchasing the lot which was seized by the government. But it all comes to the reality that it is being sold at a very low price and might fall into your possession if you play your cards right. Government repo homes come good if you have a plan. These are all needed to get the best out of your eyed property. Your motives can be acquiring it for your usage
  • 8

    Feb

    Ensure Speedy mortgage

    The world of real estate is constantly changing. Today we hear the term “Buyer’s market” but it was not that long ago that the world was the Seller’s oyster. You can’t get comfortable because the rules keep changing. Such is the also the case for the mortgage market. As the Government imposes stricter rules on our lending institutions to make up for the boom of the overly creative financing methods we have seen, it is important for you, the Buyer, to be proactive in the processing of your loan. New restrictions are popping up every day, just like the changing interest rate, and if you drag your feet during this process it is very possible that your window for financing that house you have fallen in love with, will be lost. Here are a few things you can
  • 7

    Feb

    Bad news related to Equity Release and Home Reversi by Demographics Alone

    Upon hearing the relentless bad press related to equity release and home reversion, combined with everybody seeming to discuss equity release very tentatively, I couldn’t help wondering whether all this stems from the demographics of those taking out equity release. On the one hand, suspect and pseudo-rogue ’sell house fast’ companies have been relatively ignored, swept under the rug if you may, and regarded as a less worthy cause of concern. On the other hand, equity release and home reversion are entirely regulated by the Financial Services Authority yet still carries a certain stigma. I then asked myself, what is the difference between the two? I came to the conclusion that the difference is the age specific targeting of equity release. Whilst anybody with a house can
  • 7

    Feb

    H4H program - hope or hopeless?

    For the moment, the H4H program stands for “Hopeless for Homeowners Program”, I am sorry to say. But on the other hand, any large rollout or government program requires time to adjust. Procedures, processes, protocols, software, hardware, and people all need to change to fit this new program. So, with my laptop and phone in hand, I decided to look more closely at the H4H program. Theoretically the H4H program sounds great. Banks will write down the principal of the loan to equal 90% of appraised value. Let’s take the following example: First Mortgage $ 400,000 Property Appraises $ 300,000 New Mortgage Amount $ 270,000 The Positives The homeowner gets to stay in their home and pay an affordable mortgage. In addition, the homeowner receives 10% percent equity (the equity
  • 6

    Feb

    Different types of mortgage to your financial needs

    If you are thinking about making a real estate purchase, you may find the financing options quite confusing. Before you can proceed, you have to know your terms, and understand what your options are. There are two variables to consider - mortgage type, and interest rates. These are the most important considerations when deciding on real estate, so it is essential that you have a basic understanding of what they are. Your two main options are repayment and interest-only types, and under those are more specific kinds. Repayment Mortgages This type of financing operates like a simple loan. Every month, you make a payment and the money goes to both the capital (the actual home itself) and the interest. The loan lasts a certain period of time, and if you make all of your payments according to
  • 6

    Feb

    Can I refinance my house with bad credit?

    One of the more challenging aspects about working in the mortgage business these days is the inability to help everyone that deserves it. Todays mortgage market is very unforgiving to those who have stumbled on hard times. One of the questions I am asked by my clients most often is can I refinance my home with bad credit? Early 2000 through last year millions of people with poor credit took out two and three year adjustable rate mortgages. These loans were used to either refinance or buy their homes. These 2/28s or 3/27s, as they were called, were much easier to qualify for than conventional FHA mortgages. The Quid pro quo from the lenders was make your payments on time and we can refinance you into a better mortgage before this loan begins to adjust. Unfortunately, by in large,
  • 5

    Feb

    What to consider when checking current mortgage refinancing Rates

    Refinancing your mortgage is a very important financial decision and when done incorrectly can cost you thousands of dollars in closing costs and interest payments. When most people begin their loan process the first thing they do is to call local mortgage companies and banks and ask what the current mortgage refinance rates are. While interest rates are a very important part of the mortgage refinance process they are not the only part and by focusing only on rate you could be headed for trouble. In most cases when you call a mortgage company to check current mortgage refinance rates they will quote you an interest rate that requires points to be paid on the loan. Points are a percentage of the loan amount, so one point is one percent of the total loan amount. Generally a loan where a p

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