With the number of foreclosures touching unprecedented highs each month, home owners are desperately seeking options which may help them to save their homes. One such option is a home loan modification. Even though the requirements for securing a mortgage modification are not as stringent as the requirements for refinancing, a home loan modification hardship letter will be a deciding factor. So it is important to learn about the do's and don'ts...more
It is not what you make, but how much you keep - "Wealth Building 101" By: Jamie Grant About the Author Jamie enjoys hunting, traveling, snowboarding and spending time with family. He is married to Kizuwanda G. Grant. Currently, Jamie serves on the Fort Worth Metropolitan Black Chamber of Commerce Board of Directors, the city of Fort Worth Pension Committee and has served on the North Texas Commission. In 2002,...more
Making Home Affordable is part of President Obama's comprehensive strategy to get the housing market back on track. Through the Making Home Affordable Program, up to 9 million American families may be eligible to refinance or modify their loans to a payment that is affordable now and into the future.The problem is that millions of American families wont qualify. Yes, on the surface it sounds like everyones got a new lease on life, but lets look at the details.Eligible borrowers who are current on their mortgages but have been unable to take advantage of today's lower interest rates because their homes have decreased in value, may now have the opportunity to refinance. Through the Home Affordable Refinance Program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they own or that they placed in mortgage backed securities. Now thats sounds good right, well only if your loan is backed or owned by Fannie or Freddie and if its not you dont qualify.You can find out if you have a Fannie or Freddie backed loan through the following links: 1-800-7FANNIE (8am to 8pm EST). www.fanniemae.com/loanlookup Freddie Mac 1-800-FREDDIE (8am to 8pm EST)...more
All About Mortgage Insurance Cover A mortgage is an fixed agreement that is made when we take some loan from the bank and keep our property or house papers with the bank so that if we are not in the condition to pay back the loan than the government has all the rules to take the property or house, sell it and take the money. mortgage...more
When applying for home equity mortgage loan, lending institutions will look into your credit reputation. Your credit reputation determines whether you are eligible for a loan or an extension of a loan. There are three criteria for this.Lenders evaluate your credit history, your income, and your loan-to-value ratio. Most financial institutions allow...more
Investing in rentable property is one sure way to bank. You don't need to own a lot of money to own a property, the ease at which lenders provide tailored mortgages makes it even more feasible. Buy to let mortgages are designed for investors who want to buy property for the purpose of letting it to tenants for periodic fees. Although buy to let mortgage rates, are significantly higher than other types of mortgages, the increase in rental demand has led to a significant increase in investor interests. In most cases, all that is needed to offer such mortgage is the rent potential of the property, the size of your income can be overlooked. Before you jump at the idea, it is necessary to understand that every investment not matter how economically viable it is comes with a certain level of risk. It is very pertinent to shop for the best buy to let mortgages rates as the risks for this type of investment are significantly higher than over forms of property investment. Property value rarely depreciates but the assurance that the value will continue to appreciate over time is loosely vague. Most people are tricked to believe that earning potentials of property owners are...more
The first Reverse Mortgage in the United States was done in 1961. In 1991, FHA introduced the Home Equity Conversion Mortgage (HECM), also known as the Reverse Mortgage. Liberty Mortgage is the expert in these governments insured and regulated...more
There are many reasons to get a mortgage refinance. Due to the long terms of most mortgages, chances are good that your original terms no longer suit you. Whether you want to pay off the loan faster, stretch it out, pay lower interest rates or wring...more
Today Property in Noida becomes the most demanding real estate place. Property in Noida is a planned green belt city that is connected with New Delhi, Gurgram, Faridabad, and Ghaziabad.Noida city is connected with many express highways such as Yumana...more
When you are looking at how to successfully refinance things may seem very complicated and confusing, but it really is a lot simpler when broken down. To make this work well you just need some planning with a calculator, pencil, and paper.The first...more
Author: Hector MillaThere are ways to stop foreclosure, and there are many different programs that can help, but you have to get out there and ask for them. You need to modify your mortgage to stop foreclosure, and, if not, find other ways to stop...more
You may wonder how you can get rid of those mortgage payments and finally own your property fully without owing anything to any lender with your home guaranteeing that loan. A good solution to that situation is to obtain a biweekly refinance program...more