Zero Down Home Loans
In a large portion of the housing markets across the nation, the increase in housing prices does not match the areas average household income.
Many individuals are not capable of saving money for an adequate down payment for a house in....read more
First Time Home Buyer
When you’re in the market for a new home, you can be overwhelmed by the process. This is especially so if you’re a first time home buyer.
You may not know what to do, where to go and who talk to so that the entire....read more
Foreclosure Help
- Hardship Letter Samples
- How To Write Hardship Letters
- How to Write a Mortgage Hardship Letter
- Loan Modification
- Three Common Mistakes When Writing Financial Hardship Letters
- Deed In Lieu of Foreclosure
- Foreclosure Timeline
- Loan Forbearance
- 5 Secrets To Successful Short Sales
- Partial Claim
- How to Avoid or Stop Foreclosure Quick
- Foreclosure Fraud Schemes
First Time Home Buyer
- How Much House Can I Afford
- Closing Costs on a House
- Yield Spread Premium (YSP)
- Private Mortgage Insurance (PMI)
- Types of Different Mortgage Lenders
- What is Amortization?
- Guide to Rate Locks
- Buying A House Checklist
- Annual Percentage Rate
- Loan Application Checklist
- Home Owner Insurance: 10 Ways You Can Save Money
FHA Streamline Refinance
The FHA does permit streamline refinances on insured mortgages. The term "streamline" refers to the amount of documentation and underwriting that needs to be performed by the lender, and does not mean that there are no costs involved in the transaction.
The requirements for a FHA streamline refinance are:
Read more: FHA Streamlined RefinanceLoan Modification Information
Loan Modifications are used for homeowners who have incurred a permanent financial hardship and can not afford the repayment plan.
Large numbers of homeowners end up using a loan modification program in order to put a stop to the foreclosure process.
If you are currently able to make your normal mortgage payments, but you find yourself unable to catch up with the past-due amount.
Read more: Loan ModificationCredit Rating Guide
This credit rating guide guide will help you assist you in assessing your potential credit grade and what type of terms you can expect from a mortgage lender.
Keep in mind this is merely a generic guide as some mortgage lenders have different grading based upon their own process of valuation.
The following primary components will determine your credit grade.
Read more: Credit Rating GuideLatest Mortgage News
Principal Reduction Is Just Too Expensive To Undertake
The distress state most homeowners find themselves has caused government to seek to roll out a number of mitigation measures that will help delinquent homeowners manage their mortgage problems.
Processes and measures aimed at helping distress homeowners have been in place for quite some time now unfortunately, these measures have not been effective at helping homeowners to deal with their mortgage debts.
Many homeowners continue to default in mortgage payments even after receiving mortgage modification terms.
Read more...Government Backed Mortgage Insurance against Private Mortgage Insurance
Borrowers who are, under the mortgage loan requirements of their lenders, obligated to purchase mortgage insurance on their home loans need to know the different forms of mortgage insurance available to them in order to make the right choice.
Just like the sharp rise in mortgage companies across the country, the need to purchase mortgage insurance has created a growing market in this sector of the economy.
Read more...A Variety of Mortgage Plans
A person looking to buy a home, unless the person has the financial capacity to afford an upfront payment for the home, would need a home loan.
The large number of people who prefer to own a home instead of settling for rental units has created a huge demand for home loans. It is this demand for home loans that continues to put mortgage companies in business.
However, paying back a mortgage can be a very herculean task to the borrower especially if the borrower is unable to secure an affordable mortgage rate from his or her mortgage servicer.
Read more...