• Buying a Home With Bad Credit - Get Approved With a Recent Bankruptcy or Foreclosure

     
    A few years ago, if you had a bankruptcy or a foreclosure on your credit report, you could forget about trying to get a mortgage loan. If you were lucky enough to find someone who would finance you, your interest rate would be through the roof and plan on putting 10-20% down. But today, this is not the case. There are many programs available today to help people who have recently suffered a bankruptcy or foreclosure to get a mortgage loan or mortgage refinance loan. There are two things to do if you are in this situation: 2....
     

    Reasons To Get A Home Equity Loan

     
    Using a home equity loan really depends on what your needs, wants and desires are that prompt you to take the home equity loan in the first place. As expected debt consolidation is the primary reason many people obtain a home equity loan. The thinking is sound especially if they're stuck paying anywhere from 17% to 21% in credit card debt. Department store cards are another money eater that using a home equity loan to pay off could be considered smart. Paying for an education with the loan could prove beneficial in the long run but I'm hesitant to advocate taking out a loan for that reason....
     

    Stop Foreclosure - 7 Tips to Save Your Home

     
    Faced with the threat of a foreclosure on their home, with all the weight of the mortgage industry and its army of attorneys against them, the average homeowner might feel like David facing Goliath. But David defeated Goliath ! David had a sling and some pebbles. You have an armory of tactics and options which can enable you to stop foreclosure proceedings in their tracks. There are certain basic rules to follow if you want to stop foreclosure on your home. *** Do not leave your home. If you do, you may lose your eligibility for assistance....
     

    Non-conforming Home Loans vs Conforming Loans

     
    The simple definition of a "non-conforming home loan" is: You have a job and can make the payments. Your credit is used only to determine your interest rate and the loan amount to value of the home ratio. This ratio is referred to as your "LTV" or "Loan To Value". There are many lenders who will lend to borrowers who are in foreclosure or who are currently in a bankruptcy. Borrowers who are in these situations often have the worst possible credit. Lenders protect themselves by keeping the LTV low, about 65% to 70% of the appraised price of the property....
     

    Home Equity Loan - Good Choice for Luxury Purchases?

     
    Home equity loans or lines of credit have increased dramatically in popularity in recent years. One of the reasons is that interest rates are at or near historic lows; borrowing money has rarely been more affordable. Another reason is that Americans are enjoying record amounts of equity as home values have skyrocketed in recent years. Given that the loans are affordable and the equity is available, many homeowners are wondering if a home equity loan would be a good way to finance expensive lifestyle items....
     

    Sorting through mortgage elimination programs

     
    Mortgage elimination programs are all the rage these days. In the event that you don't know what they are, it's a really basic concept. You apply more money to the principal balance on your loan or you make payments at times other than once per month, and ultimately you lower you balance and pay your mortgage off sooner than the original term. It sounds great, but be careful what you read, because there are a lot of these mortgage elimination programs that either don't make sense or just plain scams....
     

    Home Improvements Turn Average Homes into Dreams Come True

     
    If you're thinking about taking out a home improvement loan, there are several options to consider. First and foremost, your mortgage consultant needs to know why you want a home improvement loan. Here are some factors to take into consideration. ? How long have you been in the home? ? Will the improvements increase the property value? ? Are you making improvements to increase energy efficiency? ? Will improvements be made in one fell swoop, or in stages? ? What is the current outstanding balance on your mortgage?...
     

    The Top 5 Things You Must Know Before Applying for a Mortgage

     
    You've been thinking about buying your own home for quite a long time, and now you're ready to take the plunge. You've been saving money for a down payment, and you know the next step is preparing to apply for a mortgage. But where do you start? Here are the top 5 things you need to know before approaching a mortgage lender. 1. Understand Your Options All mortgages are not created equal. There are several different types, which vary based on interest rates and payment terms. For example: ? With a fixed-rate mortgage, your monthly payments remain the same during the entire length of the mortgage....
     

    Fixed Rate Mortgage

     
    With a fixed rate mortgage, you have a set interest rate for the entire life of the loan. The interest rate that you pay for your loan won't change - which means that you'll pay the same monthly payment for the entire length of the loan. This protects you from unexpected rises in interest rates that would increase your monthly payment. At the same time, should the interest rates drop, you will have the option of refinancing at a lower interest rate. Because the protections are largely on the side of the buyer with a fixed rate mortgage, interest rates on them are generally slightly higher than they would be on other types of mortgages....
     

    Mortgage Free In 15 Years!

     
    Imagine paying your mortgage off in 15 years! Think of all the great things you could do with that extra money. What would you do? Retire early? Buy an R. V.? Travel around the world? If you could eliminate your mortgage in half the time, then your options would be wide open. Let's take a look at 3 benefits and 3 considerations when evaluating whether or not the 15 year fixed rate mortgage, is right for you: Lower Interest Rate Huge Savings on Interest Paid Mortgage Paid in 15 Years Affordability Expendable Income The 15 Year Loan as an Investment 1....
     
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