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Exposing the Unbelievable Mortgage Ads
2007-02-21 14:07:03
Despite all the honestly sincere mortgage brokers in the world today, there are so many others that are doing anything it takes to make money. Open up your local Homes Magazine. The one that’s free at your supermarket. The ads are nothing short of ridiculous and they’re about to be exposed. Mortgage companies have been analyzing their sales statistics and realize this: The more applications they take, the more loans they can fund. So, they do anything they can just to get more applications. How they get these applications is what defines them. The “bad ones” resort to ads like these: (more…)
More About: Expo , Sing , Unbelievable , Exposi

Inflated Appraisals Cause Problems
2007-02-21 14:07:03
Amid all the disclaimers about mortgage fraud, homeowners are now starting to have to worry about a different problem. During the real estate boom of the past few years, appraisal values of homes were inflated beyond market value. (more…)
More About: Problems , Problem , Cause , Late , Flat

Foreclosures Remained High in January
2007-02-18 14:05:01
The pace of pending foreclosures remained high in January with more than 103,000 foreclosure notices filed, adding to the nearly one million filings reported during 2006. According to data released today by Foreclosure S.com, nearly every region in the U.S. is facing the prospect of increasing foreclosures, but no region has been more impacted than the Southwest. Just one month into the first quarter of 2007, already 50,404 foreclosure filings have been reported in the Southwest ? more than half the 94,631 filings for the region during the entire first quarter of 2006. The rest of the story
More About: Foreclosures , Main , High

Understanding your credit report
2007-02-18 14:05:01
Credit is the single most important factor when it comes to getting a good rate on any type of loan, especially a mortgage, and can determine whether you?ll get one at all! If you?re credit score is too low, or you have very little established credit, there?s a good chance you?ll have trouble finding a lender or bank to offer you a mortgage. This may sound scary, but credit is an easy thing to keep track of and to subsequently improve. It just takes a little bit of work and responsibility. A FICO score is another way of saying your credit score, a scoring system which was developed bv Fair Isaac & Co. in the 1950s. It looks at a variety of different factors and comes up with scores between 300 - 850, with the highest score being the best. Three bureaus then report the scores, all a bit differently, and the middle score is used as your average, and determining score. (more…)
More About: Credit , Report , Port , Your , Edit

Interest Rates Will Remain Stable
2007-02-18 14:05:01
Ben Bernake, Federal Reserve Chairman, testified today that the economy is doing well with inflationary pressures in check. This has been taken by Wall Street that interest rates will remain stable or go lower. Obviously, this will impact the housing market. Many have been sitting on the sidelines waiting for the combination of lower interest rates and pricing to stabilize. Additionally, those that have been in Adjustable Rate Mortgages will breathe a big sigh of relief as they will not be facing additional increases in their loans, and may be in a better position to trade their ARMs for a Fixed Rate Mortgage.
More About: Interest Rates , Inter , Main , Tabl , Will

For Sale By Owner Safety Guide
2007-02-18 14:05:01
Sellers need to keep their safety in mind when prospecting potential buyers. The real estate industry has seen a problematic climb in assaults towards Realtors, and so is the concern for those who are selling their own homes. Here are just seven ways designed specifically to protect you, your family, and your home, from being victimized: (more…)
More About: Safety , For Sale , Sale , Guide , Owner

Which Loan is Best for me?
2007-02-18 14:05:01
As the competition in the lucrative mortgage market increases lenders are offering more niche market products, which target transactions outside the norm, to gain an edge on their competitors. This influx of specialized products creates wider loan availability to borrowers than ever before; increasing the possibility to each individual borrower that a product exists that really serves their needs perfectly. Obviously, these products present a a benefit to borrowers when applied to the proper situation. However, this same range of products that bring benefits to clients can also make a consumer?s head spin. Without careful consideration and good guidance a borrower could end up with a loan that simply does not suit their needs. With the dizzying array of loans available to choose from consumers are faced with a difficult choice when selecting which mortgage loan is right for them. A bad choice made on the loan program can cost a borrower immensely. What’s worse, is that the pro...
More About: Loan , Best

Exposing the Unbelievable Mortgage Ads
2007-02-18 14:05:01
Despite all the honestly sincere mortgage brokers in the world today, there are so many others that are doing anything it takes to make money. Open up your local Homes Magazine. The one that’s free at your supermarket. The ads are nothing short of ridiculous and they’re about to be exposed. Mortgage companies have been analyzing their sales statistics and realize this: The more applications they take, the more loans they can fund. So, they do anything they can just to get more applications. How they get these applications is what defines them. The “bad ones” resort to ads like these: (more…)
More About: Expo , Sing , Unbelievable , Exposi

Gang Member Leads Mortgage Fraud Ring
2007-02-18 14:05:01
Mortgage fraud used to be a small time white collar crime. However, with lenient sentences and much less risk than other forms of illegal money making schemes, the gangs and organized criminals have moved in. And why not, you can go to jail for 20 years for extortion or dealing drugs, but mortgage fraud will get you only 3?5 years in the pokey. (more…)
More About: Fraud , Mortgage Fraud , Leads , Mortgage , Gang

Inflated Appraisals Cause Problems
2007-02-18 14:05:01
Amid all the disclaimers about mortgage fraud, homeowners are now starting to have to worry about a different problem. During the real estate boom of the past few years, appraisal values of homes were inflated beyond market value. (more…)
More About: Problems , Problem , Cause , Late , Flat

Types of Mortgage Loans
2007-02-08 14:02:01
If you are in the process of refinancing your home mortgage loan, choosing the right type of mortgage for your situation could save you thousands of dollars. There are two basic types of mortgage loans to choose from when refinancing depending on your financial needs and tolerance for risk. Here are several tips to help you choose the right type for mortgage when refinancing your home loan. Mortgage loans come in two varieties: loans with fixed interest rates and those with adjustable interest rates. Fixed Rate Mortgages come with term lengths of ten to fifty years and have payments based on an interest rate that does not change for the duration of the loan. Adjustable Rate Mortgages on the other hand, are based on a specific financial index and will include the mortgage lenders margin. There is another type of mortgage known as hybrid loans; however, hybrid mortgages are really just a combination of Fixed Rate and Adjustable Rate Mortgages. The interest rate on your Adjustable Ra...
More About: Loans , Loan , Type , Types

Real estate agency's abrupt closure stuns agents
2007-02-08 14:02:01
PORT RICHEY - Re/Max Advantage Realty, once a dominant real estate agency in Pasco County, abruptly shut down Tuesday. Nearly 25 affected agents did not learn of the decision until Tuesday morning. At least some of them were notified by e-mail from a representative of company owner Donald J. Hachenberger. The e-mail said agents needed to collect their personal belongings Tuesday afternoon. There was no explanation for the office’s closing. The rest of the story
More About: Agent , Estate , Real Estate , Agency , Agents

Which Loan is Best for me?
2007-02-05 01:59:01
As the competition in the lucrative mortgage market increases lenders are offering more niche market products, which target transactions outside the norm, to gain an edge on their competitors. This influx of specialized products creates wider loan availability to borrowers than ever before; increasing the possibility to each individual borrower that a product exists that really serves their needs perfectly. Obviously, these products present a a benefit to borrowers when applied to the proper situation. However, this same range of products that bring benefits to clients can also make a consumer?s head spin. Without careful consideration and good guidance a borrower could end up with a loan that simply does not suit their needs. With the dizzying array of loans available to choose from consumers are faced with a difficult choice when selecting which mortgage loan is right for them. A bad choice made on the loan program can cost a borrower immensely. What's worse, is that the problems...
More About: Loan , Best

Inflated Appraisals Cause Problems
2007-02-05 01:59:01
Amid all the disclaimers about mortgage fraud, homeowners are now starting to have to worry about a different problem. During the real estate boom of the past few years, appraisal values of homes were inflated beyond market value. Even if you manage to complete a purchase, sale or refinance on a home without falling prey to the many mortgage scams out there, a new, very legal, problem has crept up. The current housing market has cooled and home values have leveled, but many homeowners are left with a mortgage for much more house than they have. When the boom started, appraisals went up as sales prices went up and the housing market followed suit. This is normally not a problem; unless the market tapers the way it has in the past year. The result is an inflated appraised value of the home, and a price tag that few are willing to pay. Homeowners that bought their house for $500,000 in 2004 may be paying the mortgage of a home that has a resale value of $400,000, leaving them, in eff...
More About: Problems , Problem , Cause , Late , Flat

United States December Foreclosure Report
2007-02-05 01:59:01
RealtyTrac® reports that "...109,652 properties nationwide entered some stage of foreclosure during the month, a decrease of nearly 9 percent from the previous month but an increase of 35 percent from December 2005." Around the US ... "Colorado posted the nation?s highest state foreclosure rate in December ... Nevada?s foreclosure rate of one new foreclosure filing for every 392 households dropped to second highest in the nation ... Georgia also reported a decrease in foreclosure activity, but the state?s foreclosure rate ? one new foreclosure filing for every 480 households ? ranked third highest in the nation for the third month in a row ..." As far as new foreclosures, "Texas recorded the most new foreclosure filings of any state in December ... California?s monthly foreclosure total fell to second place ... Florida documented 8,321 properties entering some stage of foreclosure in December, the third most of any state but 11 percent below the number reported in the previous mon...
More About: United States , Report , Port , Foreclosure , United

For Sale By Owner Safety Guide
2007-02-05 01:59:01
Sellers need to keep their safety in mind when prospecting potential buyers. The real estate industry has seen a problematic climb in assaults towards realtors, and so is the concern for those who are selling their own homes. Here are just seven ways designed specifically to protect you, your family, and your home, from being victimized: 1. Fully screen callers before allowing them an appointment for seeing your home. Ask all the questions: name, existing address, and telephone number. Where are they employed? Why are they looking to buy? Do they have a family in the area? Any children? Ask as many questions until you feel comfortable with this person. 2. Do not let unannounced visitors into your home unless you have their information first. If you are alone in the house, have them come back later when there are others home. There is no reason why someone cannot be professional and make an appointment with you. Make sure there is more than one person in your home when showing yo...
More About: Safety , For Sale , Sale , Guide , Owner

Tips For Selecting a Mortgage Lender
2007-02-05 01:59:01
Mortgages are available from many different sources: large national banks specialty lenders online lenders mortgage brokers Each of these options has its advantages and disadvantages. Most mortgages used to be done by financial institutions. Because of down-sizing, many financial institutions are now happy to get their loans from mortgage brokers. This lets them cut down their full-time staffs. Mortgage brokers bring them loans that are fully prepared (application, supporting documentation), and the financial institution only does the loan if it makes sense. This keeps their overhead down, because they don?t have to pay an in house staff to do all the work a mortgage broker does for them. In a sense, the financial institutions have ?outsourced? a huge portion of the mortgage industry to brokers. Most financial institutions, although not all of them, work with mortgage brokers. This is their ?wholesale? channel, and their offices where customers can come in and talk to them direc...
More About: Tips , Mortgage , Selec , Gage , Ender

Is an Interest- Only Mortgage Right For You?
2007-02-05 01:59:01
If you?re looking to purchase a home anytime in the near future, I?m sure you?ve at least heard of a mortgage program that is gaining popularity known as an Inter est- Only Mortgage . Unlike more traditional mortgage programs that require you to repay a portion of your principal with each payment, these programs only require interest payments. The payments are, therefore, much less. Does having a lower payment make this the right choice for you? The answer depends on what I call your financial discipline. Do you have the ability to take the amount you are not paying back on your mortgage each month and put the money to some better use? Ask yourself these questions. 1. Do you pay your credit cards in full each month or at least make substantially more than the minimum monthly payment? 2. Do you contribute from every paycheck to your 401K plan or some other tax deferred savings plan? 3. Do you have a personal financial adviser such as a CPA, investment adviser, or financial planner? 4...
More About: Interest , Right