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 off and they have of paying their mortgage according to the terms and agreements that the originally...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 ready and available for you take advantage of and that help would come with a great mortgage...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 Beach bankruptcy attorney and lawyer I am often contacted to assist these potential clients to regain...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 borrower can take out sums provided that they don't exceed the credit limit similar to a credit card....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 will go when you're going through the process. You need to have all of the documents that you need ready and in order for when you get ready to take out your loan. Having documents ready ahead of time will make this whole process go by faster.Being responsible and prepared would mean that you need to be pretty stable with your job, because lenders will look at your job history to see how long you stayed at each job. It is best to have been at one job for many years than to have been at several jobs in a short period of time. They will also look at how much money you currently make to determine with or not you will be able to handle your mortgage payments.A smart idea that you will want to do is write out your budget and set goals for your spending and how much you will need each month to pay your bills. You also need to check out your credit score to see if your credit meets the standards of you being approved to get this loan. Lastly and...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
While it is important to understand your foreclosure rights, it is equally important to understand what the rights are of your mortgage company. That way you know what is coming and it can make it easier to prepare yourself. The most...more
The battle to save Russia's Pavlovsk seed bankScientists and conservationists are waging an international campaign to save Russian botanist Nikolai Vavilov's Pavlovsk seed bank from being turned over to housing developersRussia launches...more
If borrowers cannot meet the requirements of traditional lenders, they resort to getting private money loans. This type of loan is better known by many as hard money loans. Usually, people who are struggling for their properties that...more