If you have missed any payments on your loans you need to check if they are secured or unsecured on your home. If they are secured then they need to be dealt with urgently as the lender has the power to take possession of your property if they are not paid. We are going to [...]
Posted in Blogging | Tagged arrears, escape, how, Mortgage, of, stress, the, to
Hundreds of thousands of Americans have either been foreclosed on, or are facing foreclosures. Neither the banks, nor the homeowners want this to happen. Banks don’t want it to happen because they’re forced to write down foreclosures, which runs the risk of the bank failing. Homeowners don’t want to lose their homes.
The root cause of [...]
Posted in Blogging | Tagged a, before, foreclosure, its, late, loan, modification, stop, too
Getting a loan pre-approval from a lender is a quick, easy process. Typically, you fill out a few pages about your financial situation, the bank runs the numbers through a computer approval system, and you’re pre-approved the next day.
So, how do so many people mess it up so badly? Simply put, people lie (either to [...]
Posted in Blogging | Tagged a, an, application, botch, builder, construction, example, from, Home, how, loan, Loans, owner, to
There are a couple significant reasons behind the current crisis in our mortgage market. One is that mortgage brokers haven’t been giving borrowers enough information to make an informed decision. The bigger issue is that borrowers haven’t been asking the right questions! And how are they even supposed to know what to ask? School doesn’t [...]
Posted in Blogging | Tagged 5, ask, broker, Mortgage, should, things, you, your
Before we talk about what happened with mortgage rates this week lets do a quick recap of what happened last week. Last week mortgage interest rates made a sudden jump over the previous week. For the entire month of June and July 30 year mortgage interest rates only fluctuated from 6.09 to [...]
Posted in Blogging | Tagged a, down, interest, little, Mortgage, nudge, rates
If you’re an older person who has been living in the same home for years then there is a good chance that your house desperately need some sort of home repair or home improvement but you simply don’t have the money to pay for the construction costs or home improvement professionals needed to make your [...]
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Considering the current state of the real estate market, it came as no surprise that the Federal Reserve would swoop in to regulate and tighten allowances on mortgages for homebuyers. The overhaul of the mortgage lending system is in full swing with consumer groups and lenders on both sides of the arguments.
The hope is that [...]
Posted in Blogging | Tagged fight, Mortgage, over, rules, the
There are certain steps that a lender can undertake when the mortgage foreclosure has started. One of the main steps is called the trustee’s sale or sheriff’s sale. In states that use deeds of trust, this process is called non-judicial foreclosure.
For example, the borrower misses a payment on his loan after the typical grace period [...]
Posted in Blogging | Tagged a, foreclosure, in, is, Mortgage, process, sale, the, trustees, what
Many homeowners are now finding themselves in a situation where they cannot afford to pay off their mortgage any longer. This maybe because they had taken advantage of the short-term interest-only loans or had their properties valued lower than the loan they have obtained. In such an event, there are some options available to them [...]
Posted in Blogging | Tagged 4, a, benefits, foreclosure, in, Mortgage, of, process, sale, short, the
