More and more homeowners turning to reverse mortgages as a financial solution. According to the Department of Housing and Urban Development FHA Outlook Report, the number of reverse mortgage applications increased by 11% from February to March this year, with 7,398 homeowners applying for such funding . March was the second consecutive month that showed an increase in loan applications. These figures indicate that most home owners...more
Endowment mortgage loans are one with the most controversial sorts of financial loans, and have received negative and positive press in equal calculate. If you're trying to find a property finance loan bank loan, then you must look at an endowment mortgage mortgage loan as one choice. Despite these loans being quite common, they can be complex to comprehend. If you would like to know a lot more about the rewards and pitfalls of an...more
So you want to pay off your mortgage fast? Well there is no better way to do it than with by making Bi-weekly payments. Though Bi-weekly payments can help you in paying your mortgage a lot faster, there are some barriers that might try to keep from doing so. Knowing everything that you need to know to pay your mortgage off a lot faster can help you to get past these barriers and is a great practice for keeping you ahead of the game.One of the barriers that you might face when you are trying to pay off your loan a lot faster is the fact that some banks can make a way to stop you from getting ahead with your payments. You don't won't to try to avoid the traps of the bank first which is something that many people opt to do, but you need to understand how the bi-weekly payments work first so that you will know how to make the payments. If you pay half of your mortgage payment on the same exact day of every second week of the month, then towards the end of the year, it will show that you paid more money than the original amount that you were supposed to pay.It is apparent that this will work to where you are paying more is because some months only have 28 days, some 30,...more
Some people might struggle while they are seeking to get approved for a mortgage modification for their home. Not to worry, there have been programs made available for people to help them when they need it the most because of these problems that they may face when getting a loan. It is unfortunate when a person has to face a job lay...more
You have heard it mentioned all over television and the news. That would be that the pricing on houses has dropped which has made it a great time to consider buying a home. During the times we are living in it has become harder to find the right mortgage lender to get into a home. The good news is that there is help out there that is...more
The Federal Housing Authority or FHA does have modification options available. However, these are not easy modifications to qualify for.The FHA HAMP modification eligibility requirements:How do I know if my loan is a Fannie Mae or Freddie Mac owned? You can visit www.makinghomeaffordable.gov webpage and click on loan look up.1). 1-4 unit primary home (FHA insured)2). You are at least 1 month behind but are not over 12 months behind3). A new mortgager can be added to the HAMP mortgage as long as 1 existing mortgagor(s) is retained.4). You must have not defaulted intentionally meaning: you have sustainable funds to pay the mortgage but did not do so.5). This is your only home you own6). Ownership due to death, divorce of current owners must be supported by legal documents.7). Seasoning of current mortgage: meaning you have owned your home for at least 12 months and have made 4 monthly mortgage payments on time.8). You must pass the 31% debt to income meaning: you are at or above 31% of gross income but are not less than 31% with a back end dti of (cannot exceed) 55%.Some of the benefits to having an FHA loan modification, the value of your home is not part of the...more
Our office often receives calls from potential clients who are caught by surprise when a savings or checking account is frozen and the funds are unable to be accessed as a result of a creditor's collection efforts. As a West Palm...more
HELOC means a kind of home equity line of credit. One of the major differences lies in the fact that with the average home equity loans, all of the money is available outright. With a HELOC, a line of credit is established and the...more
Most first time home buyers are very happy and eager to get into their new home, but the process of getting into the home can be quite a tedious task. The more prepared you are to get into your new home; the smoother the transaction...more
If you are looking to buy a home whether it is your first time to do so or not, the first thing that you will need to do is get your mortgage. There are some things to consider about the facts of getting a mortgage such is how you will...more
You have probably heard a lot of hype about payday loans. They have certainly become extremely popular as of late. The popularity of these types of loans has soared even more so online. A payday loan is a short term loan that is...more
Many companies think that in this day and age it is hard to find mortgage leads. Mortgages are becoming more and more difficult to acquire since the new laws came into effect after the economy crashed. However, new homes are being...more