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Mortgage and Home Financing Articles
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- 3, 2, 1, and Gone is the First Time Home Buyer Tax Credit - by Submitted on Aug 23, 2009 from Betsy MooreAt the beginning of this year, President Obama signed into law the Recovery and Reinvestment Act of 2009. One provision is the first time home buyer tax credit. More specifically, it is opportunity for an $8,000 tax free check to you. However, this tax credit ends on November 31, 2009. ...
Views: 892(7 votes) - First-Time Home Buyer: Obama's Tax Credit, Home Values, & Mortgage Interest Rate - by Submitted on Aug 15, 2009 from Betsy MooreIn today's economy, it is easy to be gun-shy about buying a home, especially if it is your first home. Who wouldn't be? This is your biggest debt but, remember, it is also your largest asset. There are five major reasons why the time is now: First Time Home Buyer Tax Credit ...
Views: 1567(3 votes) - Stopping Foreclosure at the Right Moment - by Submitted on Aug 07, 2009 from Anne MingWhen facing foreclosure, it may seem hopeless for your financial situation to be salvaged. While the prospect of losing your home is certainly discouraging, it's extremely important not to give up on getting your finances in order. Having a home foreclosure on your credit history is extremely ...
Views: 897 - Foreclosure's Effects on Personal Credit - by Submitted on Aug 07, 2009 from Anne MingIn current times, many families have found themselves facing one of the potentially most damaging financial events possible – foreclosure. Home foreclosures have been gaining publicity recently, as they are a sign of the dire financial situation around the world. Countless home loans were issued ...
Views: 1191 - Seven Myths Concerning Credit Card Usage That Can Affect Your Ability To Obtain A Mortgage - by Submitted on Aug 06, 2009 from David LeachIt has been my privilege to work with hundreds of people over the many years I have been involved in the real estate and mortgage business. My experience and expertise have helped them buy their dream home when they thought their circumstances would prevent it. It has been a joy to help so many. ...
Views: 4080(3 votes) - What is a Loan Modification & How Can I Successfully Negotiate One? - by Submitted on Aug 05, 2009 from Justin BartlettWhat is a Home Loan Modification? A successful mortgage loan modification is a process whereby the terms of the existing mortgage are modified to new terms that are more agreeable to the homeowner and lender. What’s the basic idea behind loan modification agreements ? How does this ...
Views: 1356(2 votes) - Credit Repair FAQ's - by Submitted on Jul 30, 2009 from Steve De la RosaHere are some basics facts and tips on consumer credit repair and why you should look into having it repaired. "What is a credit report, and why is it important?" A consumer credit report is a factual record of your credit activities. It reports all your credit accounts and outstanding ...
Views: 1811(2 votes) - Pros and Cons of Debt Consolidation - by Submitted on Jul 28, 2009 from Pragya KatariyaDebt consolidation means that you can take one huge loan to pay off your smaller multiple loans. Now you may well wonder why take one loan to pay off other loans? Advantages of debt consolidation Lower rate of interest In most cases, a debt consolidation loan is a secured loan, or a ...
Views: 945 - Proper Mortgage Planning for Beginners - by Submitted on Jun 29, 2009 from Krista ScruggsCongratulations on your decision to buy a home! With the home, the initial mortgage is most likely a sobering occasion, especially considering just how much money you agree to pay over the next few decades. When you add the financial responsibility that comes with home ownership to the amount of ...
Views: 1095 - Evaluating Loan Products When Refinancing - by Submitted on Jun 29, 2009 from Krista ScruggsRefinancing your home loan is an important consideration, especially in the face of so many different loan products. The loan you choose for the most expensive asset and debt has the power to greatly influence your overall fiscal health – either in a good way or in a negative manner. For ...
Views: 995(3 votes) - Questions to Ask Yourself Before Refinancing Your Home - by Submitted on Jun 29, 2009 from Krista ScruggsDoes a refinance of your home loan sound like a good idea to you? If so, make sure you answer a few simple questions before you get the ball rolling. Since a refinance in many ways mimics the process you went through when applying for your initial mortgage – with the exception that now you are ...
Views: 1081(3 votes) - Mortgage Acceleration Made Easy - by Submitted on Jun 17, 2009 from Garry RichardsonWouldn't it be nice to be debt-free? The American dream of homeownership has traditionally come with a 30-year mortgage. Add to that credit cards, car loans, college tuition, and the average consumer is drowning in debt. Over the last few decades this has become our way of life, buy now, pay ...
Views: 1501 - Four Ways to Avoid Foreclosure - by Submitted on Jun 15, 2009 from Neil TercAlong with the economy and the financial sectors, the housing market is in a free fall and home mortgage lenders are tightening the purse strings. In the foreseeable future and recent past, experts estimate nearly three to four million people (1) will be unable to avoid foreclosure and will lose ...
Views: 1398 - Home Loan Refinance Considerations - by Submitted on Jun 14, 2009 from Krista ScruggsWho is a good candidate for a home loan refinance? Obviously a consumer who is paying more in interest than the current interest rate that is being advertised. General wisdom dictates that a homeowner should consider refinancing when interest rates drop by at least two percentage points, but ...
Views: 927 - Crucial Questions to Ask When Shopping Around for a Mortgage - by Submitted on Jun 14, 2009 from Krista ScruggsShopping around for the most advantageous mortgage product is a crucial endeavor when planning on purchasing a home. There is a lot at stake, and the odds of losing out financially for the duration of the loan is huge if the loan product turns out not to be what you had anticipated. Most ...
Views: 1269 - 7 Ways to Avoid Foreclosure - by Submitted on Jun 09, 2009 from Steve TetaThrough no fault of your own, you may be facing one of the greatest challenges of your life; how to prevent your property from being foreclosed upon. Why let the bank take your most valued asset and leave you with nothing? Fortunately, alternatives exist. In fact, there are seven ways you can ...
Views: 1532(14 votes) - Seller Financing: Better for the Seller Than for the Buyer - by Submitted on Jun 08, 2009 from Khayyam JonesOne of the most misunderstood topics in real estate is "Seller Financing". This is probably because the topic of seller financing is usually discussed from the perspective of the buyer. And in most cases the buyer is a beginning investor who is trying to get a "good deal" or they are starting to ...
Views: 1112 - Credit Scores - 10 Things Every Home Buyer Should Know - by Submitted on Jun 06, 2009 from Brandon CornettStart researching credit scores online, and you will soon find yourself overwhelmed with conflicting information. Save yourself the trouble. This article tells you exactly what you need to know about credit, mortgage loans, and the relationship between the two. You would be amazed at how much ...
Views: 1215(2 votes) - Prequalifying for a Mortgage - by Submitted on Jun 05, 2009 from Krista ScruggsPrior to obtaining a mortgage, consumers generally seek to prequalify. This is the process of having a lender look at the consumer’s credit profile, debt to income ratio, and from there make an educated guess about how much money the lender is willing to give to the consumer as a mortgage loan. ...
Views: 1218 - How to Stop Foreclosure: Extended Right of Rescission - by Submitted on Jun 03, 2009 from Khayyam JonesWith the wave of people facing foreclosure there are many who are asking for help. What can be done to stop the foreclosure process. Many of our clients have decided to use the powerful extended Right of Rescission which immediately terminates the foreclosure process permanently. Let me ...
Views: 8453 - Why You Should NOT Repay the Mortgage on Your Home - by Submitted on Jun 01, 2009 from Clayton MooreThe traditional view of a mortgage is a loan to buy your home, which you spend the next 25 to 30 years paying back, with interest. Finally, close to retirement age, you’ll be free of this debt and will own your home. Here’s a more radical approach: Mortgages are a key tool that can help ...
Views: 1561 - Why Prequalify for a Mortgage Loan? - by Submitted on May 28, 2009 from Krista ScruggsIn the past it was easy to apply for and receive a mortgage loan. Lenders were open to entertaining loan applications that showed no verifiable income and that could have been rather risky investments. As the loan market tightened significantly over the last few years, prequalifying for a ...
Views: 1335 - Why the Bank Doesn’t Want Your House - by Submitted on May 24, 2009 from Karla Jo HelmsOnce upon a time, collateral was king when it came to borrowing money. And your home was typically the crown jewel of your collateral assets. Home ownership gave you instant credibility to a lender who could quickly pull up your payment history and deduce from past payment schedules that, yes, ...
Views: 1082(4 votes) - Financial Steprs to Buying a Home - by Submitted on May 23, 2009 from Deon SwiggsThis is a small excerpt from an interview I did with a guy named Bill James. Bill is a great financial adviser and I have been working closely with him in creating a book and a workbook that should be ready for print in a few months. I thought this was important for buyers and sellers to ...
Views: 1326(3 votes) - Do You Qualify for a Pre-Foreclosure Loan? - by Submitted on May 23, 2009 from Mei FontanaFinding out your house is in pre foreclosure is something that is very scary, stressful and also very emotional. However, there are things you can do to stop the foreclosure process and save your home. You may be able to qualify for pre foreclosure loan from a bank or another lender. No bank or ...
Views: 1667(8 votes) - Have Mortgage Delinquencies Hit Rock Bottom? - by Submitted on May 18, 2009 from Krista ScruggsIt is baffling just how many homeowners are going belly-up in their loans, especially considering that there are copious mechanisms in place to save those who are facing foreclosure or even see themselves nearing the road to foreclosure. The foregoing not withstanding, there is a school of ...
Views: 948 - First Time Homebuyers Profit from the Falling Market - by Submitted on May 14, 2009 from Krista ScruggsHas the housing market bottomed out? Is it possible that home prices are going to continue falling? Will mortgage rates continue to go down? Will they go up? Aspiring homeowners most likely wonder what the market future holds and whether or not they should buy now or wait a month or longer. It ...
Views: 1088(17 votes) - Will Home Equity Make a Comeback? - by Submitted on May 12, 2009 from Krista ScruggsWhether it was the artificial inflation of home values or the sudden drop in the market, home prices fell so severely that years of built up equity virtually disappeared overnight. What used to be considered a failsafe investment, for many homeowners has now become a huge albatross around their ...
Views: 1130 - Saving Property from Foreclosure - by Submitted on May 10, 2009 from mike greavesLegal foreclosure is the process in which a bank or other creditor takes over the borrower’s property in lieu of the debt they have to pay, using legal means. A foreclosure step is normally taken by the creditor only when the borrower has not paid the loan dues for a very long period. There are ...
Views: 1247(4 votes) - How to Handle Foreclosure - by Submitted on May 10, 2009 from mike greavesForeclosure is a legal process in which a lender like a bank or mortgage company attempts to take over the debtor’s property to satisfy an unpaid debt if the property has been kept as a collateral security for securing the debt. The lender may claim ownership of the property or sell the property ...
Views: 2530(17 votes) - Don’t Think About Buying a House without Reading This First - by Submitted on May 06, 2009 from Menno SpijkstraBuying a house isn’t as easy as many think it to be. There are plenty of suckers falling for the sweet sales pitch of some bozo trying to sell them something for the sole purpose of getting “their share” of the transaction. Don’t play a fool for these goofballs – it’s important that you sit back ...
Views: 1024(4 votes) - Coralling Home Appraisal Fraud - by Submitted on May 05, 2009 from Krista ScruggsWho has not had that moment of nail biting when trying to refinance a property with cash out option, hoping that the appraisal will come in high enough to persuade the bank to part with the much needed equity? Have you ever wondered how it is that the appraisal came in just exactly what you ...
Views: 1052 - How to Simplify the Mortgage Process and Make it Easy to Obtain Financing - by Submitted on May 01, 2009 from GERTRUDE J CHAPMANIf you ask the average person what was the most stressful part of seeking a mortgage, most will tell you the diversity of products. The mortgage industry has come a long way from a few basic programs to an array of financing options. There are products to accommodate most any of life’s ...
Views: 1572 - Can a Bankruptcy Law Adjustment Stop the Mortgage Meltdown? - by Submitted on Apr 28, 2009 from Krista ScruggsWith the number of home foreclosures spiraling out of control, Congress is desperate for a means to stop the hemorrhaging of the losses banks and investors undergo. At the same time, the taxpayer underwritten cash infusions are doing precious little to counteract the financial disaster and while ...
Views: 1141 - The Merits of Buying Your Own Home - by Submitted on Apr 24, 2009 from Samantha GregoryWith interest rates currently at a forty-year low, many people that rent their homes are now contemplating the feasibility of purchasing their own house. As the real estate industry slumped considerably over the past 2 years, it may now be cheaper to own rather than to rent. For households ...
Views: 1027(3 votes) - Is Affordable Homeownership Going By the Wayside? - by Submitted on Apr 22, 2009 from Krista ScruggsIt is an open secret that the current mortgage meltdown finds its roots in the creation of subprime mortgages that were marketed heavily to those who would not ordinarily qualify for a home loan. This has sent minorities and the fiscally somewhat unstable in droves to eager loan brokers who ...
Views: 882 - Beware Foreclosure Rescue Scams - by Submitted on Apr 20, 2009 from Cindy MorusThe possibility of losing your home to foreclosure can be terrifying. The reality that scam artists are preying on the vulnerability of desperate homeowners is equally frightening. Many so-called foreclosure rescue companies or foreclosure assistance firms claim they can help you save your home. ...
Views: 1294 - How to Get Government Grants for Housing - by Submitted on Apr 16, 2009 from Jason ArnoldPeople who want a home can get government grants for housing which are available in most states. You will have to do some paperwork but this will help you from becoming homeless due to nonpayment of rent or mortgages. There are several kinds of programs. Most of the states have a program to ...
Views: 1286 - Have You Heard About the Mortgage Holiday Proposal? - by Submitted on Apr 15, 2009 from Krista ScruggsImagine the impact a year long mortgage holiday could have on the American economy. 12 long months without the need to make even one mortgage payment; the money consumers could keep in their pockets could be used for much needed purchases and also bill payments to help consumers get back on ...
Views: 1549(2 votes) - Mortgage Driven Bankruptcy Filings Against the Backdrop of an Amended Bankruptcy Code - by Submitted on Apr 14, 2009 from Krista ScruggsBankruptcy used to be the stigma laden option for consumers who were simply too deep in debt to find a way out. In the past Chapter 7 filings could lighten the debt load for filers by simply doing away with credit card bills and other unsecured loans. In some cases, homeowners could even keep ...
Views: 1086(1 vote) - All About Foreclosure Defense Secrets - by Submitted on Apr 08, 2009 from Paul RodgersIt’s sad, but it’s true. Whether you are a homeowner who experienced a sudden loss of job or income, a first home buyer stuck with a mortgage you can no longer afford, a person who suffered a critical injury or illness and now has overwhelming medical bills, or even an investor who was unable to ...
Views: 1131 - Refinance Bad Credit Home Mortgage - by Submitted on Apr 08, 2009 from Paul RodgersWhat Bad Credit Means to Your Refinance Home refinancing is very easy for people with good credit scores, but can be challenging for someone with a less-than-desirable credit history. This doesn’t mean you should give up, though, because while applying and qualifying for home refinancing is ...
Views: 1607 - *** You Can Do Well by Doing Good - by Submitted on Apr 06, 2009 from John AOVArizona's housing crisis was deepening. Homeowners were losing their houses. But that got Kevin Andrews thinking. Andrews, a Trump University real estate student, started to wonder whether he could help homeowners and help himself at the same time. And then he hit on a way. Kevin heard about a ...
Views: 1161(85 votes) - Mortgage Debt Elimination Secrets - by Submitted on Apr 01, 2009 from Timothy DereyThe mortgage debt elimination process that we're going to share with you will, without a doubt, put you on the right path towards eliminating your mortgage payment. Once you begin putting these strategies to use, you'll be much happier as you rid yourself of that burdensome debt. ...
Views: 2170 - Mortgage Reaffirmation After Chapter 7 - What's it All About? - by Submitted on Mar 24, 2009 from jessica bannetIf you'd like to reaffirm your personal liability for a secured debt even after a discharge from Chapter 7 bankruptcy, a reaffirmation agreement is what you need to sign with the lender. Reaffirmation agreement is usually executed for secured debts such as mortgage, car loan, RV loan etc. ...
Views: 7141 - 5 Mistakes That Can Cause Your Loan To Be Denied - by Submitted on Mar 15, 2009 from Julian JacksonThe loan modification portion of the stimulus package will provide millions of people with the opportunity to obtain financing which will allow them to keep their homes. However, just applying for a special home loan program doesn’t necessarily mean you’ll be approved. Regardless of which types ...
Views: 2298(10 votes) - Many Often Learn Too Late About Home Financing and Credit - by Submitted on Mar 10, 2009 from Julian JacksonForegoing the opportunity to obtain a basic understanding of the home financing process in a timely manner has often resulted in the home buyer being exploited by lenders. This predicament has subsequently placed many homeowners in very precarious situations. In response to the issues that ...
Views: 1049 - Why Your House May Be Worth 5 Times More In 5 Years - by Submitted on Feb 08, 2009 from Arthur LevineThis economic crisis we are in may end up making you a fortune if you just have the staying power to stay in your home, or the buying power to buy a new home. The facts are one way or another we have been and are going to spend trillions getting us out of this economic disaster. Someone down ...
Views: 1028 - Mortgage Brokers Welcome Government help for vulnerable Borrowers - by Submitted on Jan 27, 2009 from Darrell JoyceA major body, which represents mortgage brokers and other housing market specialists, has welcomed the government's proposed extension of a scheme which will help struggling families to pay their mortgages and avoid the threat of repossession. The Association of Mortgage Intermediaries (AMI) ...
Views: 760 - You've Come a Long Way, Girl - by Submitted on Jan 22, 2009 from Julie CochraneMore and more women today are taking the plunge … and I’m not talking marriage. No, the plunge I’m referring to involves taking on something that even just a few short decades ago women weren’t even permitted to do on their own. The fact is, women are getting into the ...
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