Mortgage

    2nd Mortgage Suggestions

    Q: I bought my first house (Southern California) in January 98. I have excellent credit and have been swamped with 2nd mortgage offers (and mortgage spam). I like the idea of paying off high interest credit cards with money whose interest will be tax deductible. I've cautiously responded to a few of the offers. I responded to Providian and they have been extremely agressive in their calls. The terms of their loan seem high - 15 year, 13% interest, 4...

    2nd Mortgage Question

    Q: I have a home worth 150K, owe 125K on the home, and have 65K in credit card debt. I have excellent credit (honest) and pull down about 100K in combined salaries. I know a mortgage officer at a local bank who I trust not to screw me. Her solution is to first refinance my house for 135k, pull out 10K and pay off two credit cards leaving the first mortgage payment approximatly the same. Then I would apply for the second mortgage for 55K and pay off the other...

    Adding Extra To Your Monthly Parment? Is So Where Can I Get It?

    Q: Is there software that shows how much you save on your mortgage by adding extra to your monthly parment? Is so where can I get it? A: If you have a spreadsheet available, you can figure it out yourself. You know the principal and interest payment, the interest rate, the initial principal, and the term of the loan. Suppose that the interest rate is 6% annually; your monthly rate is 6%/12, or 0.5%. Multiply the initial principal amount by 0.5% to get the first interest payment. Next, subtract this interest payment from the P&I payment to get your...

    After Bankruptcy Mortgage Second Information

    Q: I owned a home in North Carolina that was filed in Bankruptcy in 1998. I retained the home. I placed the home on the market and got a potential buyer. I informed the agent selling the home there might be a second mortgage. I was up front with this information and requested a title search on the home. The agent failed to accomplish this and proceeded with a sale of the home. Later finding that I was correct in the fact of second mortgage. The house fell threw, as I could not...

    A Mortgage

    Q: I was wonder how common it is to use a 30 year home equity loan to refinance a mortgage. Specifically I referring to this ad by Bank One: http://www2.bankone.com/presents/30year/ I've sent in the application, so I suppose I'll hear what they have to say. It seems like a great idea because they claim there are no fees. I assume though that the interest rate will be a bit higher. And if I pay off the mortgage I'll probably be responsible for paying my own taxes and insurance; I'm not sure if the home equity would have a escrow or not. I'm wonder...

    Any One Tell Me Some Informaion About It?

    Q: does anyone have recommendations on mortgage brokers. We are in the kapiti area ?I heard about Mortgage Brokers Association og New Zealand. Any one tell me some informaion about it? A: Mortgage Brokers Association of New Zealand (NZMBA). Their website has some good tips (www.nzmba.co.nz). They have an ethical code which members must follow and if there are any problems they are subject to a strict complaints procedure. Also ask if you are going to be charged a direct fee and avoid those who want to charge a fee before they do anything. Most of all - make...

    Any Recourse To Collect The Debt From Us ?

    Q: I am looking at a house going to foreclosure auction in Georgia (to live in) and have some questions regarding the title. Any help would be appreciated. 1. The house has a first and second mortgage. The foreclosure is on the first mortgage. If we buy the house will the second mortgage holder have any recourse to collect the debt from us ? 2. I have been to the local courthouse and traced the title in the deed records for liens. Other than the first and second mortgage, nothing has been recorded. Is there any other way there could be other liens against this property and where...

    Around For Mortgage Broker Rates And Applying Directly To A Bank?

    Q: We are about to buy a house. Our agent gave us the name of a mortgage broker. Is this a good way to get the best rate or could I save money by calling around for Mortgage Broker rates and applying directly to a bank? A: Mortgage brokers are very competitive and paid on commission. Banks have various ways they earn money and generally do not pay on commission. I have heard stories of slow moving loans in banks, but the incentive of a commission usually takes care of that when using a mortgage broker. ...

    As A Home Equity Loan?

    Q: Does that get affected if we do the refinancing with the second loan as a home equity loan? A: Sounds like a reasonable plan. Any "catch" would be in the interest rate, since you seem to have asked the other common questions. Ask about loan servicing and escrow terms -- to whom will you make your monthly payments, and who will be responsible for maintaining the records, escrow account, etc? How will your escrow payments be determined, so you aren't forced to keep excess money in a non-interest-bearing escrow account? If a local company services...

    At The Time Told Us To Stop All Payments To These "alleged"

    Q: need some suggestions on this subject but please NO marketing attempts, just advice. As some of you may know, we want to convert our Chap. 13 to a 7. We are actively seeking a new place to live. We have never been late on any mortgage payments except the "allegedly" crooked "equity line of credit", "secondary mortgage loan", "personal mortgage loan" (all phrases used by these #$%^&*), which before we decided to file bankruptcy to strip them down we were going to sue them and our lawyer at the time told us to stop all payments to these "alleged" #$^&*. Even though they were stripped...

    Bad Credit Mortgage Broker - Make Money.

    Q: Bad Credit Mortgage Broker - Make $$$$$?!? A: 50% of American's Cannot Qualify for Traditional "Agency" - FNMA or FHA loans! Stanford Mortgage Acceptance Corporation, Dallas' fastest growing lender, #8 out of 400 in only 3 years! Dallas Business Journal 1996. We are one of the top traditional FNMA / FHA lenders in Texas, but we also specialize in making loans that other lenders cannot. We can close loans in almost every state. Portfolio lending is the hottest thing in the mortgage industry. We realize almost 50% of American?EUR(TM)s do not meet current FNMA...

    Bad Credit Second Mortgage San Diego?

    Q: Spent time looking on the Internet for private placement second mortgage bad credit san diego? Seen those sites that use hype to sell their products? You can't miss hype, with its exclamation points, bold and capital letter, with the enthusiasm through the roof. But is all the hype really appropriate and will it really help you with your search for private placement second mortgage bad credit san diego ? A: If you visit a lot of sites on the net regarding private placement second mortgage bad credit san diego, you'll begin to notice that the majority of them...

    Bankruptcy Second Mortgage. Any Ideas?

    Q: I have a home that has a first and second mortgage. The first was recorded with county registar and the second was not. If i go to sell this home will the second be discovered on the home. Last part of this is the fact that I declared bankruptcy and declared the second mortgage as part of the bankruptcy. I just wish to get out from under this debt. A: Between you and the second mortgage holder the loan may still be secured despite the bankruptcy and despite having not been recorded unless you...

    Be Held Each Year?

    Q: Hi, is there anyone who can tell me how to become a Mortgage broker and loan agent? Basically, I would like to know: 1. Do I have to actually take any course in community college or can I study at home by myself? 2. Where can I get any information about the Mortgage Broker Exam? When will it be held each year? 3. Is there any difference license for loan broker and real-estate broker? Any information is appreciated. A: Licensing varies from state-to-state. R.E. brokers and agents are licensed by the state -- most states have a minimum classroom...

    Be Responsible For The Late Charge?

    Q: My mortgage was sold and transferred. The insurance company had sent the bill to the first mortgage company, who failed to send it to the second mortgage company. The first I heard of it was when I got a cancellation notice and a $10 late fee charge. The second mortgage company told me since they never got the bill, they would have to take the late fee out of escrow.My question - second mortgage company should be responsible for the late charge? A: No!!second mortgage company should responsible for the late charge, and you too. Hopefully the insurance company...

    Best Websites To Keep Up To The Date With Mortgage Rates And Deals?

    Q: I just got signed off from a remodel I am doing. I have about $200K out in credit card debt, mostly low interest fixed. My first and only mort is about $500K and is an adjustable. I did not realize that rates have been climbing since the beginning of the year. Is it smarter for me to refi, maybe with a 5 yr fixed or to get an equity line to cover the credit card debt and wait until the market cycles back to 5.5% +/-. I notice that a 10 and 30 fixed now seems to cost the...

    Broker Know That You Are Paying Attention To The Bond Market.

    Q: How about this: pay attention to the bond market, and let the broker know that you are paying attention to the bond market. If the broker is honest, then you might get nothing more than a few extra conversations about the bond market. If the broker is a sleaze, then s/he may be deterred from trying to falsely tell you that "rates just went up", because you can kind of figure out whether that is true by looking at the bond market. A: Usually you can call the broker and ask what the rate for the...

    Brokers In Pa, Nj, And De.

    Q: Can anybody tell me what the licencsing requirements are for mortgage brokers in PA, NJ, and DE. A: - In alt.org.mtg-broker Fred sez: : Can anybody tell me what the licencsing requirements are for mortgage : brokers in PA, NJ, and DE. You can call those states' banking departments or mortgage banking trade groups ...

    Business Management).what Is A Typical Day For A Mortgage Broker ?

    Q: My son is thinking about becoming a Mortgage Broker (he got a degre in business management); I am curious about this job. What is a typical day for a mortgage broker ? Is there a lot of sales to do ? Finding new customers? Do they meet with customers, or mostly over the phone ? A: I am a mortgage broker in Arizona and I have been in the busines for the last six years. I can tell you that starting out as a mortgage broker is not easy. It's mostly a 100% job and requires...

    Calculate Loan Monthly Mortgage Payment

    Q: I'm trying to calculate a monthly mortgage payment in Access using one of their built-in functions. I noticed the following functions exist... Pmt PPmt and a few others... What I'm trying to do is have Access calculate a monthly payment based on input fields where the user provides LOAN AMOUNT, INTEREST AMOUNT, and PAYMENT TERMS. Using my financial calculator: LOAN AMOUNT = $167,750 INTEREST AMOUNT = 4.5% PAYMENT TERMS = 360 My MONTHLY P&I on my financial calculator amounts to $849.96. This is...

    Calculate Monthly Mortgage Payment

    Q: My mortgage is calculated daily, using 360 days a year. How do I calculate monthly, principle, and interest payments? I can use MS Excel to calculate monthly mortgage payment and the numbers agree with bank's numbers to cents. But this bank I do business with calculate mortgage daily and use 360 days a year. My numbers simply do not agree with theirs. Does anyone know the equation for calculating daily mortgage? For example, for a fifteen-year loan of $100,000 at an interest rate of 8.75%, using a monthly calculation, I get...

    Calculate Mortgage Payment Refinance

    Q: I have been using a system recommended by "ERA Answers", a publication for home buyers put out by ERA Real Estate, to pay off my mortgage early. For a 30 year mortgage, the book says to pay the regular P&I payment the first year the 2nd year you pay the P&I payment + 3% the 3rd year you pay the ( P&I payment + 3%) + 3% and so on Supposedly, your 30 year mortgage is paid off in "about 1/2 the time". The trouble is, I have no idea how...

    Calculator Consolidate Debt Mortgage?

    Q: I need a mortgage calculator similar to the one on Loanworks.com where you enter your income, debt, etc and then it not only calculates info but produces a graph. Is this tough to do? Can anyone lead me to a tutorial that would help me in developing a calculator like this? A: are you sure it's not a java aplett ? well there is then definitely to do with creating layers and positioning them... some Dynamic HTML references dont do harm then .... it should not be very hard, but with NNAV it would be very crappy and slow. ...

    Calculator Extra Free Mortgage Payment

    Q: My mortgage lender is trying to get me to do the twice a month payment instead of one monthly payment. According to the sheet, I'll be saving big buck. Has anybody had experience with this type of mortgage payment? Does it work out the way they say?A: I recently looked into this. For a bit under $400 our mortgage holder will convert our existing loan to one of a few programs (bi-weekly or semi-monthly [ 14 or 15 days ]). It will save big bucks over time, assuming you...

    Calculator Interest Mortgage Payment

    Q: Will somebody please email me a formula (so I can make a spreadsheet) to calculate what a mortgage payment would be? Obviously the variables are Principle, Interest per year, Frequency of Payments (Monthly), # of years. I am not interested in a table, I am interested in the formula that will derive the monthly payment.A: calculate what a mortgage payment would be? Obviously the variables are Principle, Interest per year, Frequency of Payments (Monthly), # of years. I am not interested in a table, I am interested...

    Calculator Interest Mortgage Payment Uk

    Q: can anyone email me a spreadsheet that will calculate mortgage repayments based upon interest being charged on a daily basis rather than the old anachronistic annual way most lenders used to use in the UK. Ideally, I would like to be able to enter test figures for the mortgage period, the interest rate & the ammount borrowed. Then see what the repayment amounts are when the interest is calculated daily & how it alters when monthly fixed or variable repayments are made. Alternatively if anyone can point me in the...

    Calculator Mortgage Payment Repayment Schedule

    Q: I'm working on a CDrom for a real estate company, and they'd like to be able to put a "Mortgage Payment Calculator" on the disc. This would allow a prospective home buyer to enter his/her purchase price, or rather the amount of the loan, along with interest rate and length of the repayment schedule and the calculator would estimate their house payment with a reasonable degree of accuracy. For example they'd type in $50,000 loan at 7.25% for 20 years, click an "enter" button, and the program would return the amount of...

    California Reverse Mortgage

    Q: I am in the planning stage for a Silvercrest home in southern California in a 55+ park where I will own the lot. The property is very well maintained with great amenities and mostly newer nice homes with enclosed garages, more like a winter resort than the stereotype M.H. Park. Does anyone know if getting a reverse mortgage will be a problem in such a situation? It's probably hard for those in some parts of the country to believe the high cost of property here in California. Imagine a...

    Canadian Version (p=12, C=2)

    Q: i am a Canadian mortgage broker and can only use the US version, Is there an Excel canadain version Loan Amortization template. The original Excell loan amortization is the US version (P=12, C=12). while i would like to use the Canadian version (P=12, C=2) A: I cannot find a ready-made template, but you might be able to make the following modifications to the US template -- if the Canadian mortgage payment is still monthly. (I see other options online.) First, the payment can be computed as follows: =PMT((1 + rate/2)^(1/6) - 1, months, -loan) where "rate" is...

    Can Anyone Lead Me To A Tutorial That Would Help Me In

    Q: I need a mortgage calculator similar to the one on Loanworks.com where you enter your income, debt, etc and then it not only calculates info but produces a graph. Is this tough to do? Can anyone lead me to a tutorial that would help me in developing a calculator like this?A: are you sure it's not a java aplett ? well there is then definitely to do with creating layers and positioning them... some Dynamic HTML references dont do harm then .... it should not be very hard, but with NNAV it would be very crappy and slow....

    Can I Still Use The 2nd Mortgage As A Tax Deduction?

    Q: I am looking to pay off my home mortgage in a few years. I also own a houseboat, which I use as a second mortgage. If I pay off the 1st mortgage, can I still use the 2nd mortgage as a tax deduction? A: If you can itemize, yes. ...

    Carolina.

    Q: My wife and I are looking at buying our first home and are trying to figure out which mortgage product is best for us. We decided that we should get a pre-approval before we started seriously looking at several houses. My wife called a broker and expressed to her that we would prefer to not put much down: the broker immediately started talking to her about an FHA loan and sent over a Good Faith Estimate (after pulling our credit report and saying that our credit was great and salary was good) with numbers that look...

    Charges Too?

    Q: We've had a 70+ day nightmare with the mortgage broker we got pre-approved with and tonight I find out that my brother (located in another state) was able to change mortgage lenders in the middle of processing a loan due to the initial lender failing to complete paperwork in a timely basis. He stated all his VA paperwork was transferable and none of the fees would be due until he actually closed. Does anyone know if we can change to a new mortgage broker in the state New Jersey without incurring excessive extra charges too? We should have...

    Cheap Mortgage Payment Protection Uk

    Q: Scottish Amicable have informed me that my endowment policy has been mis-sold under PIA regs and are offering full re-payment of all premiums + interest. Given terrible press for endowments, I'm considering using an ISA as my re-payment vehicle but am not too sure which UK financial institutions offer them?? I've heard of Abbey National, but does anyone know of any other good providers?A: there are a staggering amount of ISAs available. What I'm thinking of is a equities Mini-ISA (more than liklely a FTSE100 or 250 tracker) combined...

    Choosing A Mortgage Lender

    When you decided on what home to buy you did not simply buy the first property you saw, and this should also be the case when deciding which mortgage lender to use. However, many people are still locked into the assumption that the financial institution which they have used for a long time is the right choice for a mortgage lender, and this is not always the case. With the interest rates being so low, the competition amongst mortgage lenders is fierce, with all mortgage lenders looking to hold onto their existing business. It is of great...

    Christian Consolidate Debt

    Q: Lately I've been getting this spam about Christian Debt Removal and Christian Mortgages. I don't know what's in it, because stuff like that goes unopened to my Deleted Items folder, but I wonder if anyone else knows that these are about. Is it really some kind of Christian thing, or is it just some kind of fraud playing to Christian sympathies? ...

    Circumstances, This Would Constitute Legal Malpractice.

    Q: Was there a formal reaffirmation, approved by the Court? If not, there was no reaffirmation. Did your Foreclosure Attorney advise you to reaffirm? In some circumstances, this would constitute legal malpractice. I strongly recommend discussing your situation with an experienced bankruptcy attorney. A: The attorney's didn't advise it. We had no where else to go so we went in wanting to keep our house. As far as the reaffirmation agreement by the courts I'm assuming there was. There was never any question by the lenders that we were keeping/would continue paying our mortgage. On another...

    Colorado Reverse Mortgage

    Q: "An increasing number of new-car buyers are finding themselves owing more than their trade-ins are worth. In the car industry, this phenomenon is known as the upside-down car loan, and it has escalated during the car-lending spree of the last three years." In the mortgage industry a "reverse mortgage" is one where the value of the home exceeds the loan at the time it is made and no loan payments have to be made by the owners, but by the beneficiaries in a Will. I suppose if real estate values collapse...

    Commissions?

    Q: What type of range does one usually find for mortgage broker's commissions? It seems that around here (bay area in California), 1 point is fairly common, though there are many who charge more and a few who charge slightly less (e.g. 0.875 point). Note that in cases where a no-point loan are involved, the lender is actually making it at negative points to pay the commission (and closing costs, if the loan is also no-fee). This comes with a higher rate than a loan with points. A: - Regardless of the points charged, the brokerage firm is...

    Countrywide Mortgage Online Payment

    Q: If I make an additional mortgage principal payment in Quicken does it do anything special to notify the bank that the online transaction is additional principal? I always see recommendations to clearly mark your payment as additional principal when doing this, so I was wondering if doing it online will work. I know Quicken asks you if the payment is additional principal. Any advice ???A: You must specify what the extra payment is for unless the mortgage has a clause that specifies extra payments will always go to P....

    Cover The Second Mortgage Payment? Any Ideas That Work Quick Welcome

    Q: 3 years before the divorce we opened our own business funded by a second mortgage on our home. The business grew dispite our problems. The final decree orders that funds from the business (the company pays us for its value in 12 equal payments) first repay the second mortgage and any additional profit be split 50/50. My spouse hid the first two payments and the company tells me a "Final divorce decree" is not recognizied to them as enforceable to redirect funds. My lawyer sent the company an IDO but they say they read it as the funds...

    Dallas Mortgage Reverse

    Q: I'm beginning to get more than a little frustrated with the people who I do credit card business... ie AT&T Universal. When I got back from my recent trip, it was shortly after the first of the month... went down, picked up my mail and paid all my bills... and of course they were all 3 or 4 days late. Now with AT&T, I knew there would some finance charge... so I tossed in an extra $10... My balance was quite small... Today I brought up my account on the "puter... They...

    Deciding On Refinance Mortgage Loans

    Refinance mortgage loans allow you to use home equity to loan you money. These loans, also called "cash-out refinance loans," "refinance loans," "debt consolidation loans," and "home equity loans" have the same rate as your current mortgage but put money in your pocket. Refinance mortgage loans can be attractive for many reasons. They can be used to help you pay off debts, they can help you be prepared for emergencies or needed home repairs, and they can even be used to invest money against the future. Better yet, refinance mortgage loans have the same rates as...

    Deducting Interest And Property Taxes In 2005?

    Q: A second home was purchased from a related person at fair market in 2005. In Nov 2005, steps were taken to sell the second home, such as signing a listing contract with a real estate agent. The home was not rented during 2005. The home is currently unsold, but listed for sale. Is the home a qualified second home for purposes of deducting interest and property taxes in 2005? The question relates to IRS Pub 936 which contains the following: "Second home not rented out. If you have a second home that you do not...

    Depression (was Mortgage Rates (was Momentarily Verbal)) ?

    Q: I am aware of two major types of depression: (a) topical depression, which has an external cause that may or may not have a predictable life span (e.g., your husband is a drunk and your mother-in-law, who hates you, lives with the two of you, as was the case with one of my acquaintances), and (b) clinical depression, which is caused by some internal hormonal imbalance (that may or may not be chronic or cyclically acute and then non-existent) that adversely affects one's emotional balance.A:I'm sure there are other types of depression. For example, just as some of us...

    Difference Between Home Equity Loan, Second Mortgage, Etc?

    Q: Hi all, I am thinking of taking out a home equity loan or a home equity line of credit or a second mortgage. My wife and I have lots of confusion on what is what. Is a Home Equity Loan the same animal as a Second Mortgage? Does a Second Mortgage carry a bad name on your credit report? Help. A: Let me try.... home equity loan is a loan on your home. second mortgage is a home loan that is on the second lien position. I think home equity loan can be the first or the second...

    Does Anyone Else Know Christian Debt Reliefthese Are

    Q: Lately I've been getting this spam about Christian Debt Removal and Christian Mortgages. I don't know what's in it, because stuff like that goes unopened to my Deleted Items folder, but I wonder if anyone else knows that these are about. Is it really some kind of Christian thing, or is it just some kind of fraud playing to Christian sympathies? ...

    Do I Capable To Do If I Acquire That?

    Q: does anyone know what exactly is a mortgage license and what do I capable to do if I acquire that? A: Contact your state or provincial government. You don't say where ytou are located, but licensing of mortgage brokers is a function of the state or province in North America, not the federal governments. And not all states and provinces license mortgage brokers. And even those that do frequently exempt mortgage brokers unless they sell mortgages to the public. The only way to figure out the story is to contact your state regulatory agencies. let's assume you are...

    Experience With Trying To Buy A Home After Bankruptcy?

    Q: We recently filed chapter 7 and it will be discharged at the end of January. Has anyone had any experience with trying to buy a home after bankruptcy? Are there special lenders who deal with this(do you get stuck w/high interest and have to have large down payments)? How long after bankruptcy do you need to wait before even trying to obtain a loan? This seems like it's probably hopeless to be able to buy a home after filing bankruptcy. Any advice is much appreciated. A: -The answer(s) are varied and multiple.. The most direct answer is: yes,...

    Financial Advisor Who Owes A Duty To The Borrower?

    Q: Under what theory does a mortgage broker become an independent financial advisor who owes a duty to the borrower? A: A mortgage broker recommends a particular mortgage. A mortgage is a financial product. Therefore it seems to make sense to consider a mortgage broker to be a financial adviser of sorts. That may or may not mean that the broker is an FA in the sense of consumer protection legislation surrounding the financial services industry. A broker, as distinct from somone selling just one lender's products, is able to advise on a range of products from a...

    Find Cheap Or Free Mortgage Broker Training?

    Q: I want to become a mortgage broker in either South Carolina, North Carolina, or Georgia. But I know next to nothing about what it takes to be one- ie. Where can I find cheap or free mortgage broker training? I know, an education is important, but I am below poverty level (illness) and need to find a way out of my situation. I have been also looking at becoming a real estate sales person, but brokering seems like a good idea to me, as I have a friend of a friend in the buisness now. That FOAF...

    Finding A Good Mortgage Rate

    Many people are aware just how important finding a good mortgage rate can be. After all, the mortgage rate that you commit yourself to has a massive financial impact on your life. It can be the difference between living comfortably and just scraping by. Your mortgage rate is probably one of the most important factors that will affect your lifestyle; so understandably, it is worth shopping around for a good rate. Many experts in the field will give you this advice, but what they fail to tell you is how to shop around for a mortgage...

    Finding A Mortgage Company

    A great place to look for a good mortgage company is on the internet. It has been noted that many people are now turning to the internet to find a great mortgage company, as it offers so much flexibility in when you can get information on interest rates and loans. However, online mortgages are still new to the internet because a mortgage company would traditionally only offer mortgages through established financial institution. People who were looking for a mortgage company rarely went far when looking for a home loan and usually used the institution that did all of their...

    Finding A Mortgage Loan

    A mortgage loan is an important decision in anyone's life. It is the biggest loan that most people ever take on, so it is worth doing some research into the market and finding out exactly what your options are before committing with a particular mortgage lender. Most people will look at a few different lenders before deciding in their final mortgage loan agreement, but not many people know the difference between the types of mortgage lenders that there are available. Today there are a number of different people who are willing to provide you with a mortgage loan....

    Finding The Right Mortgage Broker

    Your mortgage broker is the bank you choose to give you your mortgage. So it is obviously important to have a strong relationship with your mortgage broker. They are the ones that will give you your mortgage rate, and also the sum of money that you will use to buy the house. Even though everything simply seems to be paperwork, you are making a major decision and want to be able to trust your mortgage broker. The relationship with your mortgage broker can help save you money - both on the initial sale transaction and on your monthly payments. Your mortgage...

    Form Websites Available On The Net Today?

    Q: How can we be sure they're the best second mortgage form websites available on the net today? We've visited every site about second mortgage form that we could find, and have studied them to sort the good from the bad. A: Look, we're good at getting ranked well in search engines. second mortgage form may be our big interest, but we'll be the first to admit that out site doesn't come anywhere to the standards of the websites we're linking to. So we therefor suggest you follow one of the links. You won't be disappointed. Thanks for taking...

    Ge Broker Bussiness Websites?

    Q: I'm interested in mortgae broker business.Can anyone help me some mortga ge broker bussiness websites? A: Many websites claim that they use information to personalize your experience on the site . For instance, if a mortgage broker business site learns that you are interested in mortgage broker business, the next time you visit the site, you might be presented with an article or advertisements for that and related products. But some mortgage broker business websites sell this information to marketers, which means that you may find yourself receiving unwanted catalogs from garden suppliers. Our preferred retailer does not do this....

    Getting A Good Mortgage Quote

    Buying a house really depends on what kind of mortgage quote you can get. And getting a good mortgage quote can go a long way in saving you money when you buy a house. Not only up front, but also for your future spending on the house. A good mortgage quote is one of the most important things to look into when purchasing a house. Getting a good mortgage quote starts even before looking for the house. A good mortgage quote depends heavily on the interest rates that come from the government, and though they can change at any given...

    Getting A Good Mortgage Quote

    Getting a good mortgage quote is very important to today's homeowner. A good mortgage quote will give freedom and flexibility to the individual and could have a great impact on their quality of life. In fact, a good mortgage quote could change any homeowner's life, and when you look at it like that, it's worth taking the time out to get a good mortgage quote. Many people don't tend to shop around for a mortgage quote and that is a shame. It seems that once some people have committed themselves to a certain lender, they are...

    Getting A Home Mortgage

    Renting can have its advantages. Spending a monthly amount for a place to live and have some assurance that things will be fixed if it breaks can go a long way to settle the mind. However, renting means you are not using your money to invest, you are paying to use something. Looking to buy a house and not only are you investing money into something you can ultimately own, you are also investing your money, in hopes of turning it into more money. Once you have decided to purchase a house, you have to look into getting a home...

    Getting A Mortgage If You Have Bad Credit

    So you've had some rotten luck over the last year, or few years. A bad divorce or serious medical problems. Your boyfriend took you for everything. You got involved in junk bonds, and lost everything. The outcome is- your credit stinks. And you'd love to stop paying rent and buy a house, get some equity, have some security in knowing that the place you live in is going to stay put. You can. It's not as easy as it would be if your credit smelled like roses; it's not going to be as cheap as if you had perfect credit. But...

    Getting The Best Deal With A Mortgage Company

    Unless you have money to pay cash for a new house, you are almost certainly going to deal with a mortgage company when you buy a new home. Mortgage companies are there to loan you cash in exchange for a lien on your new house, or to loan you cash in exchange for a second lien when you need more money to pay off credit card debt, to make home improvements, or to have more cash available. In today's low interest economy, there are lots of great deals available from mortgage companies. But you should still shop around. There are several...

    Getting Your Mortgage Rate

    Buying a house really comes down to what kind of mortgage rate you can get. Very few people or families have the assets to be able to purchase a house with cash. And if that's what it took, then very few people would own houses. That is why the mortgage rate is so important in the process of buying a house. To buy a house most people have to borrow money, and the mortgage rate drives just exactly how much money people are going to have to pay to borrow the money to buy a house. The mortgage rate is...

    Gmac - A Sensible Choice For Your Mortgage

    GMAC Mortgage is one of the largest and most stable mortgage companies in America. It's owned by General Motors Acceptance Corporation (a wholly-owned subsidiary of General Motors), and its primary business is financing American homes. Over 2 million people carry a mortgage through GMAC. GMAC is currently the leading commercial banker in the United States, with a significant presence in Canada, Mexico, the UK, the Netherlands, and Japan. GMAC has a presence in a total of 41 countries today and is still growing. General Motors has serviced car insurance since their inception in 1919, when people first realized a need for...

    Go Into The Bankruptcy?

    Q: Is it possible that I'll lose my car, equitable distribution and house in the accident case? Should I try to refinance immediately or let the mortgage go into the bankruptcy? I am not currently employed. When I bought the house with my ex, we had an agreement that if I did most of the work on the house he'd pay the mortgage and expenses. When he left I decided that I would probably earn more by working fulltime to increase the equity in the house than I would with a local outside job and had planned to use...

    Harrasment From Ameriquest Mortgage

    Q: Almost weekly I receive mortgage mail from Ameriquest wanting me to take a loan from them. I have sent mail repeatedly requesting to be removed from their mailing list. Finally, getting no where I called the company headquarters. THere response was "There is a Do Not Call list but no Do Not Mail list. Therefore we can send all the mail we want." The clerk may refuse to take it saying its not obsene. Get a supervisor if so. The USPS regs say that they must accept it and that the definition of obsene is completely...

    Have Paid Down Some Of The Mortgage?

    Q: I have an asset account for my house. It is tied to a mortgage loan account. I also made a down payment from my checking account. How do I calculate the equity in the house using Money since it has appreciated and I have paid down some of the mortgage? A: figure out what your house is worth. Nothing internal to Money will provide much help with that. with a calculator, subtract sum of the current balance of all outstanding loans from the value determined in step 1. The remainder is the equity. ...

    Hearsay?

    Q: Have you actually spoken to any mortgage company or are you going on hearsay? If a high street mortgage bank or building society will not help then go and see a mortgage broker.Take care with those that will offer you a mortgage for a fee. Their fees can be enormous and usually linked to an uncompetative mortgage rate A: Im going to have to take issue with you there Eric. SOME fee charging brokers are as you describe, but the vast majority are not. For a broker to rely merely on a lenders procuration fee is likely to...

    Home Buying With Bad Credit Mortgage?

    Q: My husband and I are starting to look at buying a home. However, our credit is very bad. It is improving, what with paying off the Visas (less than 10k to go!) the cars (one paid for!) and getting a start on the student loans. Is there any way to get a mortgage with absolutely lousy credit? Short of going to Shylock's Usurer and Meat market? A: Yes, there is, although you shouldn't expect a bottom-dollar interest rate if you have a bad credit history. Read up on land contracts. I'm holding two of them at...

    Homes,can Anyone Help Me?

    Q: I am searching for a template to calculates refinancing of motor vehicle or homes. I cant find any on the template gallery. Any one has this type template and willing to give me a copy? A: you use the PMT function to calculate loans, whether you are borrowing for the first time or refinancing for the nth time. I have no idea how exhaustive your search has been but there are numerous templates and files available for free download. Among many other site, you can download here: http://search.officeupdate.microsoft.com/TemplateGallery/ct139.asp or http://myweb.cableone.net/twodays/ Download the "Mortgage" file ...

    How Are California Mortgages Different?

    California is a huge housing market - not only are there many homeowners in the state, but many of the homes are very luxurious, pushing the home cost average up. There are many companies in California and nation-wide that cater to the large California housing market. If you are in the market for a California mortgage, you certainly have many choices ahead of you. However, California is also a very competitive housing market - demand for residential housing is high, ensuring that prices remain high while inventory stays low. California mortgages are popular - while in 2000 over 11% of...

    How Does National Debt Affect You

    If you read the newspapers or watch the news, you likely hear a lot about national debt. Politicians routinely accuse one another of contributing to national debt and the issue certainly plays a key role at election time. Is there any reason for the average person to worry about national debt outside of election time, though? The simple answer is yes. The national debt is money owed by the government. Since the country's citizens pay taxes and are a part of the nation, national debt affects them. While many people talk about national debt, however, it...

    How Do I Calculate The Equity In The House Using Mone

    Q: I have an asset account for my house. It is tied to a mortgage loan account. I also made a down payment from my checking account. How do I calculate the equity in the house using Money since it has appreciated and I have paid down some of the mortgage?A: figure out what your house is worth. Nothing internal to Money will provide much help with that. with a calculator, subtract sum of the current balance of all outstanding loans from the value determined in step 1. The remainder is the...

    How Do You Calculate Mortgage Payments

    Q: I'm interested in knowing exactly how it is that mortgages are calculated. The internet is no help because all search attempts point to mortgage calculators, not the method of mortgage calculating. Any explanation or comments for me???A: If the interest is compounded monthly, the mortgage payment can be computed by: PMT = PV * r / (1 - 1/((1 + r)^n)) where PV is the loan amount, n is the length of the loan in months, and r is i/12, where i is the nominal annual interest rate (not the...

    How Is A Countrywide Mortgage Different?

    Countrywide Home Loans is the name of a national home mortgage lender. A Countrywide mortgage that can allow you to enjoy better rates and better policies on a mortgage no matter where you live. Since the company has a national presence, with offices in every state, Countrywide can offer great deals and can be especially useful for people looking to move from one state to another. Since they were first introduced in 1969, Countrywide mortgages have been held by both commercial customers and families who have found the mortgages to offer good terms and good rates. ...

    How Much Can You Afford On You Home Mortgage?

    A home mortgage is the biggest financial commitment that many of us make in our lives. If you think about the responsibility involved in taking on a home mortgage, it's no wonder that the whole business scares a lot of people. Many who take on a home mortgage struggle within the complicated arena of finding good deals and deciding on how big of a home mortgage to take on. It is a subject that is often not talked through, and because the amount of financial commitment scares a lot of people, they tend to shy away from...

    How To Find A Mortgage Brocker In Lasvegas?

    Q: I am employed as a W2 contractor. My income numbers look good but I have no stable job, and I assume that prospective lenders would take this into consideration. I don't have a clue how big a mortgage I can get, and that makes house shopping difficult. I have heard one can get a pre-approved mortgage. Assuming this is true, how does one go about getting one? Given my situation, would you recommend contacting local banks first, or going through a mortgage broker? I'm living in LasVegas? How to find a mortgage Brocker in LasVegas? A: - ...

    I Need To Know If Its Possible To Combine My Mortgage

    Q: I need to know if it's possible to combine my mortgage ($55,000/30yr.) and my home equity loan ($20,000/line of credit). I'm 24, single and didn't have a clue about mortgages and loans and still don't. I remodeled my grandmother's old house that she signed over to me and that ended up costing me the 55K which, of course, was loaned as a mortgage. The house was mine, free and clear, until I remodeled it which *had* to be done seeing as how it was built in 1899. Anyway, I was...

    Interest?

    Q: Is the use of a Colorado second mortgage on a primary residence to finance the purchase of a car completely legit in terms of writing off interest? I have a second mortgage on my home. Is that mortgage recorded at the County's Deeds Office? If so, may I inspect it? And what do I ask for when I go? A: What you cannot do is use the funds to purchase tax-exempt securities and then deduct the interest. As long as the total of "equity" mortgage loans does not exceed $100K. Also, don't get caught in...

    Interest Only Loans

    Interest only loans are the types of loans that many people are opting for these days. What this is, is a loan that you take out that requires you to pay only the interest payments for the first few years of your loan and then you move on to the actual re-payment of the loan itself. These loans are designed to help you to get the best house for the lowest payment possible. It is a really deal for those people who are starting families but don't have a great deal of initial money. Interest only loans often do...

    Investment Property Mortgage?

    Q: I bought a condo in Hawaii, and plan to use it for about 2-3 months of the year, and rent it out for the remainder 9-10 months of the year. My question is about which type of mortgage to get: Second-Home mortgage, or Investment Property mortgage? Currently, I'm going through the lending process with this property as a second home mortgage. The stipulation by the lender is that I stay in the home for at least 2 weeks per year. This will be easy for me to do as I will be using it 2-3 months of the...

    Leaving The Mortgage Home Loan As Secondary?

    Q: Is it possible, in California, to refinance a first mortgage in place, leaving the Mortgage Home Loan as secondary? The detailed situation. I have a fixed-rate first mortgage, and a home-equity line of credit as the second mortgage. I'd like to refince the first mortgage for a shorter term and lower interest rate, while leaving the line of credit intact. A: It's possible, but only when the amount of the debt is not increased, the current lender does the refinancing, and it doesn't require a new deed of trust. If they will substitute a new...

    Leaving The Second Mortgage As Secondary?

    Q: Is it possible, in California, to refinance a first mortgage in place, leaving the second mortgage as secondary? The detailed situation. I have a fixed-rate first mortgage, and a home-equity line of credit as the second mortgage. I'd like to refince the first mortgage for a shorter term and lower interest rate, while leaving the line of credit intact. A: It's possible, but only when the amount of the debt is not increased, the current lender does the refinancing, and it doesn't require a new deed of trust. If they will substitute a new note...

    Licensed Mortgage Broker Business Or Any Licensed Lender

    Q: An individual person who acts as an associate for either a licensed mortgage broker business or any licensed lender? A: A licensed mortgage broker is authorized to solicit mortgage loans on behalf of a borrower, to accept an application, and to negotiate terms and conditions of a mortgage loan on behalf of a lender. The *primary* difference between an *unlicensed* loan officer and a *licensed* mortgage broker is that a mortgage broker can "negotiate terms and conditions of a mortgage loan on behalf of a lender" - a loan officer who is *not* a licensed...

    Listing Service Which Will Match Mortgage Brokers.

    Q: Using the Internet, AMERICAN MORTGAGE LISTINGS-The Most Exciting Revolution in the Mortgage Brokerage Business-has launched an all new listing service which will match mortgage brokers, institutional lenders, and private investors with borrowers in need of real estate loans around the world??? A: Elizabeth K. Scott, a hard money mortgage broker, and Michael M. Sherer, a Certified General real estate appraiser, each with over 16 years in their respective fields, have created a source for borrowers and lenders to find each other 24 hours a day, 7 days a week, using the vast resources of the World Wide Web....

    Loan Calculator>

    For anyone who is currently considering or already has a loan, having a good loan calculator in your possession can make all of your loan payments etc. easier to calculate for yourself and can even help you manage the money that you do have available. Loan calculators can help you calculate the interest rates and convert them into real money for you. That can certainly make it easier for you to determine what you can afford to pay in interest rates and what you requested loan amount should be. You can find a loan calculator that will specifically help you...

    Loans Only?

    Q: I am not sure I understand the limitation on $100,000 in non-purchase debt. If the loan amount is $176,000, are you saying I can only deduct interest on the $100,000 and not the $76,000? Is this a limitation on Home equity loans only? Also what is "non-purchase debt". A: As long as the loan is secured by the home, it will be deductible as home mortgage interest, BUT, it will be subject to several limitations. One being $100,000 in non-purchase debt. So if you re-fi say, $250,000 then the interest that is deductible is limited...

    Look For In A New York Mortgage Broker?

    Q: I go for my New York State test on Tuesday. What should new licensees look for in a New york mortgage broker? I have some real estate experience I have done 4 preforeclosure rehab and quick turn sales before. I am also a mortgage broker. So I don't totally need my hand held. I am a new agent, but not new to real estate. What kind of commission split should I be looking for? I have an offer to work at ReMax in southern Queens, NY. I know the broker, as she is a friend. Any suggestions? A: ...

    Looking For A Good Mortgage Lender

    It is a great idea to establish a good rapport with you mortgage lender. That's because your mortgage lender can save you a great amount of money and help you with your finances - especially with real estate transactions. Real estate can be a huge investment, but only if you have a decent mortgage rate that you can take advantage of. A mortgage lender can help you achieve this and get you to save money in the process. But it is important to research the topic and find the right situation. A good mortgage lender doesn't simply just give you...

    Loomis Mortgage Reverse

    Q: How many tracks does PEI hold the total wins crown at ? Without looking, I'd have to say more than half. Speaking of sucking, Loomis' magic is starting to work. 2 weeks in a row Jeff puts the right front into a wall. Oh, nevermind, it wasn't Loomis' fault, it musta been the driver's fault ... A: Yeah but at times in both '98 and '99 they were very competitive with a string of top 10's. This year has been a disaster. Losing Loomis, as much I hate to admit it, made a bad situation (Dodge...

    Low Closing Costs?

    Q: Who has the best mortgage refinance rates in town....preferably with zero or low closing costs? A: - www.fatwallet.com and check their financial forum.. -Look in the Friday business section of the Dallas Morning News. They lists several local mortgage lenders and their respective rates. ...

    Makine The Decisions To Refinance A Home Mortgage

    Making the decision to refinance a home mortgage is a difficult one. Before you refinance a home mortgage you should consider all the benefits and drawbacks. If you have an adjustable-rate mortgage and refinancing can provide you with a lower-rate fixed-rate mortgage, then the decision to refinance a home mortgage may be the right one for you. On the other hand, if you plan to move within three years, an adjustable-rate mortgage may be the right option for you and the trouble you have to go through to refinance a home mortgage may simply not make sense...

    Mortgage?

    Q: Does anyone have any recommendations on how best to shop for a home mortgage? We're looking at renewing our mortgage on May 1, and there are some interesting offers floating around. I can't see going to all the banks, and speaking with the Mortgage Officer, but I'm not sure whether they'd respond to a letter?! A: This works in the US.. I assume Canada is similar but I could be wrong. Whether looking for an initial mortgage or seeking to refinance, the way to do it is with phone calls... lots and lots of phone...

    Mortgage After Bankruptcy

    Many people have the belief that they cannot get approved for a mortgage after they file for bankruptcy and to some degree they are right. However, the days when filing for bankruptcy meant that you were virtual leaper to creditors are over. Mortgage finance companies are starting to realize that the average American has bad credit or credit problems and many more are being forced to file for bankruptcy every year in order to recover from their debts. Because finance companies are realizing that this is the norm, they are beginning to make allowances for those that wish to finance...

    Mortgage Bad Credit San Diego?

    Q: Spent time looking on the Internet for private placement second mortgage bad credit san diego? Seen those sites that use hype to sell their products? You can't miss hype, with its exclamation points, bold and capital letter, with the enthusiasm through the roof. But is all the hype really appropriate and will it really help you with your search for private placement second mortgage bad credit san diego ? A: If you visit a lot of sites on the net regarding private placement second mortgage bad credit san diego, you'll begin to notice that the majority of them are...

    Mortgage Broker Course In State Of Florida?

    Q: I'm wondering if anyone knows of a distance class for the pre-license mortgage broker course? The state of Florida, where I am, requires the taking of a 24-hour course before someone can take the exam. What I haven't been able to figure out, despite many e-mails, is whether or not they allow for the course to be taken online or through correspondence. I haven't yet been able to find a distance provider of the course, so I'm beginning to doubt it. A: You might try contacting a World Marketing Alliance (WMA*) rep near you. They do mortgages, refinancing...

    Mortgage Calculator

    A mortgage loan calculator is used to help you to determine the factors that will help you to get a mortgage and buying your own home. When you have a mortgage loan calculator you can compare all of the different loan company offers in terms of the monthly payments, interest rates, and you can even calculate what your different payments would be should your personal circumstances change. Your loan calculator will also estimate your available loan in accordance to your finances, dents and expenses. It will also help you to determine exactly what you can afford to borrow. In essence;...

    Mortgage Compared To The First One?

    Q: I have a question about taking second mortgage, say you bought a house at $200K (with most of the money borrowed from the Bank, of couse), does it mean that you can borrow another $200 K from the bank by taking the second mortgage? What are the criteria that lenders use to judge if you can qualify? I have a perfect credit record. How much interest rate will I be paying back the second mortgage compared to the first one? A: More. How much more depends on your particular circumstances. Second mortgage interest rates...

    Mortgage Leads

    When you are looking to mortgage your own home, you will likely want to shop around for the perfect home before you even try to take out a loan. If this is the case for you, you will also want to shop around for the best mortgage companies as well. When this situation comes up, you will want to search around for the best mortgage leads that you could find. You can get good mortgage leads on the internet at websites like mortgageleadsusa.com. It is at web sites like these that you can find high close out rates that you...

    Mortgage Loans

    trying to get approved for various mortgage loans can take a great deal of work on your part, but there are many ways that you can make it a little bit easier. You can sign up for any number of mortgage leads memberships who are geared to taking almost all of work away from you. Mortgage leads websites can hook you up directly with lenders or can put you on the right track in finding your own lenders. You can also look around for the private investors and try to make a good deal for yourself. Private mortgages can sometimes...

    Mortgage Payment Calculation

    Q: I know that Excel's PMT, IPMT, and PPMT will calculate Mortgage Payment, Interest Payment, and Pricipal Payment correctly to the penny. I am trying to find out how to duplicate these calculations without the built-in functions. Can somebody tell me how it is calculated, or at least let me know where I can research this. This is driving me crazy because I want to figure it out, but it is taking me a long time. I have a mortgage of $158,381, and interest rate of 7.625%, 180 payments...

    Mortgage Payment Calculator

    A mortgage payment calculator is used to help you to determine the factors that will help you to get a mortgage and buying your own home. When you have a mortgage payment calculator you can compare all of the different loan company offers in terms of the monthly payments, interest rates, and you can even calculate what your different payments would be should your personal circumstances change. Your loan calculator will also estimate your available loan in accordance to your finances, dents and expenses. It will also help you to determine exactly what you can afford to borrow. In essence;...

    Mortgage Payment Calculator

    A mortgage payment calculator is used to help you to determine the factors that will help you to get a mortgage and buying your own home. When you have a mortgage payment calculator you can compare all of the different loan company offers in terms of the monthly payments, interest rates, and you can even calculate what your different payments would be should your personal circumstances change. Your loan calculator will also estimate your available loan in accordance to your finances, dents and expenses. It will also help you to determine exactly what you can afford to borrow. Basically; a...

    Mortgage Rates

    When you are looking to get your own home, you are likely going to need to apply for a mortgage loan as well. The amount that you could wind up paying for mortgage rates can be very high depending on your credit rating and the local real estate economy in your area. For example, if the economy in your area is high your interest rates will also be high and if the economy low, so your mortgage rates will be high as well. By the time you have finished your mortgage's term, you could end up paying more for your...

    Mortgage Rates Are Only Around 8%??

    Q: Tired of low paying investment or stocks losing money. Try an investment the banks use to get rich - real estate mortgage investments. Switch & Save more money with a real estate mortgage investment. Receive 10% interest instead of 5% CD's. Double the amount of interest you are making today. We even pay your early withdrawl penalities when you Switch & Save more with us. How do you propose to offer 10% on a mortgage investment when current mortgage rates are only around 8%?? A: This may not be a scam. I don't know anything about the person...

    Mortgage Refinance (including Closing Costs, Etc) In Ms Money03?

    Q: does anyone have step by step as to how to successfully account for a mortgage refinance (including closing costs, etc) in MS Money03? I've tried the MS website and found the suggested approach to be inadequate. Thanks - A: I'll be updating the FAQ soon, if my mortgage company does their thing. Until then, here's today's version of the FAQ: --- Q): I just refinanced my mortgage; how do I enter all of this into Money? A): There's a wizard of limited utility, you can navigate to it by going to your current loan page, click Analyze Loan|Consider...

    Mortgage Refinance Loans

    Mortgage refinance loans let you take advantage of the home equity you have via your current mortgage and let you borrow against your current equity. For example, if your home is worth $200 000 and you have a mortgage outstanding $100 000, you have $100 000 that you can potentially access. If you get mortgage refinance loans called "cash-out" refinance, you can get your hands on all or some of this money. If you need $50 000 for home renovations, for example, you can get a mortgage refinance loan whereby you owe $150 000 and the lender...

    Mortgage Sales Training?

    Q: As a numbers person I see where you are going. This is a great concept for car dealers and sellers of other high ticket items that are trained to think in terms of "low monthly payment." This is usually a part of what most folks call "sales training." Real estate agents are not considered sales people by most of the selling community, and for good reason, they lack sales skills and sales training. Besides that they lack the people skills to get that intimate with a customer regarding their finances. Last year at this time...

    Mortgage With One Bad "09" Entry On My Trans Union And Equifax?

    Q: Can anyone give me some advice on the wheres and wherefores to get a mortgage with one bad "09" entry on my Trans Union and Equifax. TRW is clean. I can't get the 1 negative removed but not for lack of trying. The best they would do is report it settled. I don't want to get a mortgage with higher than the going rate for interest because an old girlfriend got a Visa in my name but never told me. That was three years ago. I don't know any other way to get that removed. The banks won't budge as...

    My Loan Because I Think Something Is Goofy?

    Q: I applied for and was approved for refinancing through Washington Mutual (a large banking institution) over 3 and half months ago. The loan officer told me up front that it was going to take over the 60 days and that they'd honor the lock because they were so backlogged (I got in on the massive rush). But its 3 and a half months now and I'm getting worried. I call every two weeks and get the same line - its going through, everything is fine, they're sorry for the delay but they're just swamped. The problem I have...

    Need To Get The Second Mortgage Lender To Agree To. Any Thoughts?

    Q: I'm in the process of purchasing a new home, and I'm not going to able to put 20% down. I've spoke to 3 different mortgage houses, and each one has pitched this 80-15-5 home payment process. This is what I know today about this type of home payment. Please correct me if I'm wrong on any of these statements. 1. I won't have to carry PMI 2. I can claim the interest on each mortgage 3. I can get the house re-appraised in a five years, and potentially pay down the 2nd mortgage. 4. The 2nd mortgage is...

    Negotiate With The Second Lien Holder For A Discount??

    Q: I am trying to work on a pre-foreclosure right now and the owner has a second mortgage. Should I wait to purchase the house at the auction? Or should I try to negotiate with the second lien holder for a discount?? A: - You cannot close the purchase until the 2nd is paid off. Consult your local closing agent or title company for specifics in your area. - That's just one option. There are dozens of ways to structure a deal to make a buck, but each situation is unique and there is no one...

    Nj Mortgage Broker To Deal With This?

    Q: We need to find financing for an unusual situation. In order to avoid a partition sale, we want to buy out a 1/3 owner, using both the 1/3 being bought and the 1/3 we have as collateral, but still leaving us with only a 2/3 ownership. The property is commercial, in New Jersey, and is currently rented. The purchase price is approximately 20% less than 1/3 the appraised price, so it's a good deal for us - almost certainly better than the results of a forced partition sale. The propery is an inheritance, and neither of us actually...

    No Down Mortgage

    The real estate boom combined with historically low mortgage rates has made real estate one of the best investments nowadays. However, while getting a cheap mortgage has become easier than ever, most prospective buyers find themselves against a wall when it comes to making the down payment on the mortgage. If you are one of those who would like to buy a house but are despairing of finding enough money to make the down payment, there is some good news for you. It is indeed possible to get a no down mortgage, meaning a mortgage with no down payment, in...

    Mortgage Note

    Q: If a person can not get a full mortgage for a house there is an option for the person to get a 2nd mortgage from another source or the seller. Is this a common option for someone to buy a house and what are the ramifications?? seller wants to sell house for $235,000 but buyer can only get mortgage for $200,000 what options do you have. The seller can 1) tell buyer to get a second mortgage from another source or 2) finance the...

    Of State Loans As Well As Florida Loans.

    Q: I'm a licensed mortgage broker in Florida and I'm looking to originate out of state loans as well as Florida loans. I'm also looking to work from my home office. Is anyone aware of a company out there that meets the following criteria: 100% commission with very reasonable per-loan fees Close to 100% commission with no or small fees Licensed in all/most states (important) Does business with major lenders No sign-on fees to start up A: We are a Mortgage Banker in California that is licensed in multiple states, Florida being one of them. Are you interested...

    Of The Money Recovered Would Be Ideal ?

    Q: I'm looking for some advice as to the best way to recover a debt. Just over two years ago, my girlfriend's father was having trouble paying his mortgage. It got to the stage that he was about to lose the house. I offered to get a loan out in my name for 5,000 pounds to help him and we agreed that he would pay the payments. The payments started for the first couple of weeks and then never came again. As the girlfriend was living with me at the time, this made it impossible to hound him as she said she to me she would...

    Opportunity In This Field To Make A Nice Living?

    Q: I've also considered a career as a Mortgage Broker. Is there opportunity in this field to make a nice living? A: while your taking wild swings at career choices, why not look into becoming a brain surgeon? An auto mechanic? An Ice-cream flavor-tester? What a silly question "is there money/opportunity in this career choice". What, are you 15? There is opportunity where you make opportunity. I've seen dirt-poor stock market traders, who simply don't take advantage of opportunities, and I've seen millionaire farmers. Life is what you make it. If you count...

    Or Is It More Convenient To Collapse Your Ira's .

    Q: Is it better to keep on paying down the debt as much as you cash flow allows or is it more convenient to collapse your IRA's (or RRSP's) to pay off most of the debt, take the tax hit, and then resume contributing once you are debt free? A: The first thing to do is to change your lifestyle so that you do not accumulate consumer debt. Your income is adequate to pay off the debt but only if you change your lifestyle. You seem to be looking for a simple solution of juggling money to make the...

    Ours Recently Died?

    Q: Just a general question here. I have 2 mortgages currently. Is it possible to refinance or take out another home equity loan to pay off existing mortages, credit card and use cash for a new car purchase as ours recently died? And if so what are my options. I'm confused with the options I have found (LTV, line of credit, etc.) My goal is to lump everything into one mortgage payment. Is that possible? A: In the credit arena, just about anything is possible. The big question is why you like...

    Pay Cash For The House And Then Take Out A Homeequit

    Q: - pay cash for the house and then take out a home-equity loan? - pay some cash and mortgage the rest in order to use the remaining cash toward renovations? use some other combination?A: As this is a tax related group, I'll deal only with the tax issues. Obviously, the underlying economics are another issue entirely, which depends on the various terms being offered for each type of loan. From a tax perspective, if nothing more happens than you have described, then it...

    Pre Payment Penalty

    Q: One mortgage company is offering to consolidate 1st mortgage, 2ndMort(line of credit), few credit cards into one loan without the "Pre-payment" penalty at 7.95% fix for 30yrs. The current situation is as follows: 1st mortgate at 5.10% 30yrfixed 2nd mortage(line of credit) at 9.10% variable (1.75%+ prime) creditcards apr ranging from 11- 24.99% Would it be beneficial to REFI at this point ? or just wait for another few months (say 4months) where equity would be much higher and total ...

    Prevention Questions

    Q: My neighbor has been out of work and now his house is up for forclosure sale on January 2nd. He got a card in the mail from a company in L.A: " called, "Goldman, Wilson, Drew & Associates" that claims to be able to "buy him time" from month to month. They said that he needs to go to the courthouse in his city (Houston) and transfer a 5% portion of his deed to a trust that they set up. Then they file bankruptcy in the trust's name and this stops the sale. The fee is $475 per...

    Private Mortgages

    Private mortgages are fast becoming a very popular form of investment for many people that are interested in making real estate their chosen money making venture. If you re interested in the possibilities that a private mortgage can offer, I would suggest that you seek out a licensed broker to help you with it because going it alone could be catastrophic. Most private mortgages are set up for those who are looking to flip the property. Flippers are those who seek to purchase a property for a low price, make a few add ons or fixes and then re-sell it...

    Property At 90% Ltv And I Can Take Out My Equity?

    Q: I have recently purchased a Forclosed Property for say 40,000 and fixed it up and I am guessing the Appraised value to be 78,000. Does any one know of a South Carolina lender that will refinance the property at 90% LTV and I can take out my equity? Better yet does anyone know how I can work a deal to do the above? I always hit a brick wall when I ask lenders on this issue. Any comments would be welcome A: What your looking for is quite common, normally considered a very easy...

    Questions?

    Q: Does anyone know of good places to get a 125% second mortgage without any questions. I would like to take the money and use it as a down payment on a second investment property. Any help anyone can give would be much appreciated. A: If you are trying to find 125% mtg on a non-owner occupied property, good luck! It is simply too much risk for the banks to take! It will be much easier for you to find a 100% financing program for the new property. For this you have a couple options....

    Rates Available.

    Q: Do you know how much money you can save on your home mortgage by refinancing your house and getting the lowest rates available. A: You can literally save thousands upon thousands of dollars. Now is the time to refinance and save the money you deserve Maybe you want to open that business or add on to your current business but lack the funds to do so. Well we can help We will help find you a low rate loan all you have to do is fill out the no obligation form by clicking on the link below...

    Real Estate Agent, Mortgage Broker, And Appraiser?

    Q: Could someone please share his valuable information on how to become a real estate agent, mortgage broker, and appraiser? Are their any schools by mail that one can attend? I am interested more in the San Francisco Bay Area. A: Many ways to get the most up to date information you ask above. Real estate agents and mortgage brokers are licensed by the State's Department of Real Estate. Contact your local office of DRE, visit your local community college book store for DRE Reference book (less than $20), or inquire at any real estate...

    Refinance Loan

    When you have a current mortgage loan that you are paying on, it is relatively inevitable that you will eventually want to refinance your mortgage loan. That is going to take some real consideration beforehand. When you're making your decision, there are several things to keep in mind. First of all, you need to know that even a small rate cut can pay off quickly. That's because you can easily find mortgage companies that are dying to waive routine refinancing charges such as application, appraisal and legal fees just to be your loan representative. Of course, in exchange for low...

    Refinance Mortgage Rate

    When you refinance, your mortgage rate will likely become a key concern. As you refinance, you may start paying more attention to federal funds rates on the news. These rates are the interest rates at which banks lend money to each other. This is a "short-term" rate. When you refinance your mortgage, however, you are dealing with a "long-term" rate, since mortgages can last up to thirty years of even longer. Your mortgage rate, although long-term, can be affected by short-term rates, a fact you need to be aware of when you opt to refinance....

    Refinancing Your Home Mortgage

    Mortgage refinancing can be an intimidating thing for some people. Lack of education is the prime reason that people never consider using this to save money and time on their loans. What does refinancing a mortgage entail, what are the benefits of it, and how does someone go about refinancing? The first thing to consider in refinancing a mortgage loan is the current interest that you are paying versus the interest rate that is being offered. A lower interest rate will save money both on the monthly payments, as well as resulting in a lower overall loan amount....

    Remaining Cash Toward Renovations? Use Some Other Combination?

    Q: - pay cash for the house and then take out a home-equity loan? - pay some cash and mortgage the rest in order to use the remaining cash toward renovations? use some other combination? A: As this is a tax related group, I'll deal only with the tax issues. Obviously, the underlying economics are another issue entirely, which depends on the various terms being offered for each type of loan. From a tax perspective, if nothing more happens than you have described, then it makes no difference. The interest paid on either...

    Researching A Finance Mortgage

    A finance mortgage is a great way to be able to purchase a house. It is the American Dream, to buy a house and raise a family, and without the opportunity to get a finance mortgage, it might be impossible for people achieve their dream. While the finance mortgage of course simply means is paying to borrow someone else's money, with a few tips and tricks you can turn the finance mortgage into an investment for yourself. The right finance mortgage can easily differ from person to person; from situation to situation. While general tips can help people understand the...

    Restraining Order???

    Q: I am 54 yrs, live in Massachusetts and currently have a 1 year restraining order against my husband for assault. The restraining order will expire in Jan. and I have to go back to court to request a 1 year extension - the most I can expect but no guarantee I'll get it. This was all handled in criminal court last Jan. He pled guilty and was convicted. He was ordered to pay all my expenses which I declined. Although I pay all bills, I am living in the house which is under both our names and I...

    Reverse Mortgage

    A reverse mortgage is very much like a forward mortgage, but with some very overt differences. When you take out a reverse mortgage you will be the homeowner, however, when you are finished paying on your mortgage loan, your heirs have to repay all of your cash advances that were taken from your loan and the interest as well. Your lenders are going to want your house, they are only going to want their money back. One thing that you can do with a reverse mortgage is use the money that you get from the reverse mortgage to pay the...

    Rookie?

    Q: Happy Tuesday everyone! I just got my Mortgage Broker license for Florida state, very happy about that... does any one have any marketing tips for a rookie? please help A: - Getting started in this (or any) business is tough, especially in the current economic climate, with rates going higher every 6 weeks, thanks to the Federal Reserve Bank under Greenspan and Bernanke.And especially in Florida, which has more Mortgage Brokers per capita than any other state. I can tell you this, 2-3 years down the road your lifeblood is probably going to be referrals and repeat customers,...

    Second Mortgage Loan

    There are many reasons why someone would want to take out a second mortgage. Most commonly, the reason is money. Sometimes it is money to pay off some bills or maybe you just want to lower your monthly payments on your current mortgage rates. Just like the name implies, when you take out a second mortgage, you are generally taking out another loan against property that you already own. When it comes to getting a second mortgage you have to be ready to go through the same steps as if you were applying for a first mortgage. You can also...

    Second Mortgage Options

    If you are considering borrowing money and looking for a useful source of credit, a second mortgage may be the answer. A second mortgage may provide you with a large amount of cash at a relatively low interest rate. A second mortgage could also have tax benefits that wouldn't apply with other types of loans, but this may have to be verified by your tax advisor. A second mortgage will require you to use your home as collateral. This may put your home at risk if you struggle to keep up with the monthly repayments, so it is...

    Second Mortgages: Buy Them Smarter

    Sometimes you build up equity in your house, cheerfully paying off the mortgage you took when you bought it, and then you run into a wall. You lose a job; someone in the family becomes catastrophically ill; you are sued by someone. Hundreds of things happen that can cause you to suddenly need a large amount of money. Or you might decide you'd like a swimming pool, or that the roof needs to be replaced, or that your growing family needs to have another bedroom and bathroom built onto the house. Or you have got to get out from under...

    Should I Refinance, Or Get A 2nd Mortgage??

    Q: Should I Refinance, or get a 2nd mortgage?? A: yes, it is always wise to put your home at risk to 'utilize' your equity for that family vacation or new car or hey even a new outfit and a night on the town the way to wealth, health and happiness is debt ...

    Should You Refinance Home Mortgage Loans

    When you refinance for home mortgage loans, you take out a loan for which your home acts as collateral in order to provide for repayment in case of default. Many companies make it seem that a refinance in order to take advantage of home mortgage loans is a smart financial decision which can save you money in the long run and can provide you with more spending power. This is true - to a point - but you need to understand all the facets of a refinance to take a home mortgage loans before you put your home...

    Should You Refinance Your Home

    If you want to refinance your home, you may be nervous about all the decisions you have to make and you may be nervous about the many options you have. When you refinance a home, you renegotiate the payments and loans on your home, generally getting out of your current mortgage in order to opt for a new, more beneficial mortgage. Many experts now suggest that considering whether you should refinance your home should be part of your overall strategy, and you should consider your options to refinance your home as frequently as you reconsider your investment portfolio. There...

    Should You Take Out A Debt Consolidation Mortgage?

    A debt consolidation mortgage is now seen as one of the hottest ways to consolidate debt. It is true that there are many advantages to a debt consolidation mortgage. In a debt consolidation mortgage, you basically take out a home equity loan in order to pay off your debts. Let's say that you have a home worth $200 000 with a $150 000 mortgage. Your home equity is $50 000. Let's say that you owe more than $25 000 in credit card debts, auto loans, personal loans, and other debts. The payments on these debts likely have all sorts of...

    Software For Calculating "accelerated" Mortgage Payment

    Q: Does anyone know of software that can calculate "accelerated" mortgage payment? "Accelerated" means paying an additional amount towards the principle each month. What I want to know is how much additional payment I have to make in order to shorten the life of my mortgage loan by X number of years. Any comments???A: The expression to calculate loan/mortgage payments is: Payment = P*r/(1-(1+r)^(-n)) where: P = Principle amount (amount borrowed) ...

    Summarises Uk Mortgage Rates ?

    Q: Can anyone point me in the direction of a site which summarises UK Mortgage rates ? Does such a beast exist ? I've trawled the net for discounted rate deals from the major lenders but it nice to check over my findings with another resource so I can create a shortlist of lenders to talk to. (Best rates found so far seem to be C&G with 3% off a base rate of 6.85% for first year then 2% off for the second year but with a 5 year tie in - anyone found a better deal ?) A: ...

    Synonymously. Is There A Difference?

    Q: Is a Mortgage Broker the same as a Loan Officer? I hear them being used synonymously. Is there a difference? A: Under the state of FL the following applies: Mortgage Broker: An individual person who acts as an associate for either a licensed mortgage broker business or any licensed lender. A licensed mortgage broker is authorized to solicit mortgage loans on behalf of a borrower, to accept an application, and to negotiate terms and conditions of a mortgage loan on behalf of a lender. The *primary* difference between an *unlicensed* loan officer and a *licensed* mortgage broker is...

    The Benefits Of Mortgage Refinancing

    You took the plunge. You went out and decided enough was enough, renting is for suckers, and purchased a house. You took some courses, did the research, found the ideal house and put the down payment down and now own the house. The mortgage rate was decent, if a little high, but you thought there would be no better time than now to lock a rate in and buy your home. Except now, mortgage rates have gone down, and you are spending a lot of money - a lot of money that you wouldn't have to be paying if you...

    The Best Mortgage For Me ?

    Q: I'm a UK resident looking to purchase a property in Co. Louth. I'm also a computer contractor working through my own limited company. Could anyone recommend any good UK mortgage brokers who could hunt out the best mortgage for me ? I could obviously go around all the banks/building societies myself, but I'd rather have someone do all that for me (lazy sod that I am). A: Try the Irish Mortgage Corporation, 3 Ely Place, Dublin 2. +353-1-676-3654 . Haven't used them myself, but several colleagues have, and they seem pleased. On a general note, the (few...

    The House To Pay For The Fert Treatments....!!!!some Question

    Q: After maxing out all our credit cards and taking a second mortgage on the house to pay for the fert treatments, we now have six twitching little fleshloafs in the ICU -- the seventh didn't make it so we're looking at about $15,000 for its funeral, but we're hoping the mourners will contribute to the burial fund so we won't be out too much money. We also hope the PayPal link on the memorial web site will bring in enough money to pay for the upkeep of the site. I make about $40,000 a year and my wife...

    The Idea Of The Mortgage Loan

    It is very difficult to purchase a house with cash for the average person. It's not impossible, and it can be done, but without an inheritance or some other large windfall of money to help. Real estate (which is basically a home) prices are high because purchasing real estate is not seen as a product - it is seen as an investment. That is a distinguishing factor that everyone has to look at when buying a house. It is more of an investment than a product. So while a mortgage loan is simply a way for banks to charge us...

    The Mortgage Broker.

    Q: Chances are you don't have a contract or an "Agreement to Lend" from the mortgage broker. A: The Loan Officer should have contacted you when the program went away and at least denied your application to free you to look elsewhere. Looking at the date and hearing the story I am quite sure that it was a national program offered by a major lender and it did indeed go away. They still could have kept you in the program for a few weeks (if you were locked) but even to get into the program the house would have...

    The Mortgage Corp?

    Q: Paid RE Tax through my mortgage company in the form of escrow. The mortgage company miscalculated the escrow amount and I ended up underpaying the tax. Here is the situation with approximated numbers: Escrow Deposit, Tax paid by the mortgage corp., Escrow balance In '95 - $3000 $6000 -$3000 In '96 - $9000 $6000 $0 Now, which amount to I report on each year, the actual money that came out of my pocket or actual real estate tax paid by the mortgage corp? A: - Actual tax paid by the mortgage company - The tax...

    The Mortgage Refinance Boom: Is It Over?

    ______________________________________________________________________________ ...

    The Old Mortgage And Start The New One?

    Q: I'm in the process of refinancing my home mortgage. How do I in effect payoff the old mortgage and start the new one? A: There's a wizard of limited utility, you can navigate to it by going to your current loan page, click Analyze Loan|Consider Refinancing. This takes you to a page called Loan Worksheet. You can go through the steps, or, if you have already decided on if/where to refinance, skip to Comparison and at the bottom of the worksheet click on Refinance a Loan button. The wizard doesn't attempt to deal with all of the things like closing costs and escrow exchanges;...

    The Pre-license Mortgage Broker Course?

    Q: I'm wondering if anyone knows of a distance class for the pre-license mortgage broker course? The state of Florida, where I am, requires the taking of a 24-hour course before someone can take the exam. What I haven't been able to figure out, despite many e-mails, is whether or not they allow for the course to be taken online or through correspondence. I haven't yet been able to find a distance provider of the course, so I'm beginning to doubt it. A: You might try contacting a World Marketing Alliance (WMA*) rep near you. They do mortgages, refinancing...

    They Deduct Interest Payed On Their Mortgage.?

    Q: have heard of some people taking a loan out of their home equity line of credit to use for a car, so that they can deduct the interest payed on the car (essentially the line of credit) from their taxes in the same manner they deduct interest payed on their mortgage. I am wondering if that is a good idea or not, or if there are certain circumstances where it's a better idea than others. Any suggestions? A: There are some issues that may be worth considering: 1. A home equity loan or home equity line of credit...

    Things To Consider Before A Mortgage Refinance

    A mortgage refinance is a major financial decision and you should consider several factors before you go ahead. You should consider, first of all, whether there are any financial penalties for your mortgage refinance. A mortgage refinance could cost you substantial penalties for breaking out of your current loan, or origination fees. In addition, when considering a mortgage finance, you need to consider the costs of credit reports, legal fees, and even mortgage insurance and extra life insurance costs, depending on the terms of your current mortgage. These fees may cost thousands of dollars and comparing...

    Thinking About Mortgage Refinancing?

    If you are considering mortgage refinancing, its important to know exactly what you are doing and what costs are involved. Many people believe that mortgage refinancing will save them money before they have really looked at their financial situation and all that mortgage refinancing will involve. Research is the key as it will allow you calculate exactly what costs you will generate, and if this will be beneficial to your situation. When you first take part in mortgage refinancing, you usually pay off your original mortgage, and then agree to start a new loan. With the new...

    Through!!!

    Q: I'm tired of putting time, energy and money into mortgage broker marketing just to end up with an agent that never seems to follow through!!! any advice? A: OK!!I can understand your problem!!!Let us say you meet with an agent and feel like you have made a connection. But weeks go by without hearing from that agent. You make follow up calls, it all sounds good, but the agent still does not call, return your calls, or send you clients. What is going on? It sounds like you have just encountered the passive Realtor. A passive Realtor can...

    Understanding Mortgage Loans

    Most people need to face mortgage loans. Few of us can afford to pay cash in full for a house. The problem with mortgage loans, though, is that there are so many options. Fixed rate, adjustable rate mortgage loans, mortgage loans which offer greater flexibility - how to choose? Plus, when you decide on a mortgage loan, you need to decide how much money to put down and how much to pay off. The problem is that most people have a strange fear of mortgage loans, when in fact your mortgage can help you financially. Every...

    Understanding Mortgage Rates

    Mortgage rates refer to the interest rates which are calculated on mortgages. Anyone who is currently paying off a mortgage or is contemplating buying a house needs to worry about mortgage rates. Mortgage rates vary widely depending on the interest rates set by banks. However, mortgage rates also vary from homeowner to homeowner, based on past credit rates, lender, and other variables. It is important to consider mortgage rates, since the interest on a mortgage generally adds up to many thousands of dollars over the course of a mortgage term. While there may not...

    Using A Mortgage Broker

    Deciding when to invest in the services of a mortgage broker can be tricky. If you have found your dream house and you need to find the right mortgage to make the dream a reality, it could be wise to use a mortgage broker instead of shopping around for the best mortgage rates yourself. The decision is ultimately up to you, but a few things to consider is what the mortgage broker has to offer. The mortgage broker will provide you with low rates that will save you money with almost no hassle or effort on...

    Using A Mortgage Calculator

    Mortgage calculators are not just an ordinary calculator. They are a special type of financial calculator that will help you plan for a home purchase. They operate by giving you a general idea of the total amount of your mortgage repayments, based on the interest rate, down payment and length of mortgage that you decide upon. Mortgage calculators have been invaluable in helping people who are looking to move home, or become first time buyers. Previously, people in this situation had to make an appointment to see a professional in the chosen area, but with mortgage calculators,...

    Using Mortgage Calculators Effectively

    If you have a mortgage or will be getting one soon, you should have several mortgage calculator bookmarked on your Internet browser. These free tools can help you find the best mortgages and can help you manage all the complex financial details associated with mortgages. If you are new to mortgages, especially, mortgage calculators with useful graphic components - can help you figure out the ins and outs of mortgages. In general, mortgage calculator will take information from you - such as the value of the house, the down payment, the term of the mortgage, the type of...

    We Have Never Been Late On Any Mortgage Payments Excep

    Q: need some suggestions on this subject but please NO marketing attempts, just advice. We are actively seeking a new place to live. We have never been late on any mortgage payments except the "allegedly" crooked "equity line of credit", "secondary mortgage loan", "personal mortgage loan" (all phrases used by these), which before we decided to file bankruptcy to strip them down we were going to sue them and our lawyer at the time told us to stop all payments to these "alleged" . Even though they were stripped off in the Chapt. 13, they were investigated...

    What A Mortgage Calculator Can Do For You

    Buying a first house can be a daunting task. There are so many things that you have to understand, and quite often all those things can hit at once and be very confusing. There are so many things that can make someone apprehensive about buying a house. It is a huge investment and can be very scary. Of course, it is something that doesn't have to be so scary, and there are many tools and experts out there to help first time buyers ease into the transition of buying a house. The first place to start, even before making the...

    What Are Countrywide Home Loans?

    Countrywide Home Loans is a home mortgage lender that can help you get a good deal on a mortgage - no matter where in the country you live. With offices around the country, Countrywide Home Loans helps both commercial customers and families find mortgages that suit their needs. Countrywide Home Loans is a very reputable lender because it is a large, well-established company as well as a subsidiary of Countrywide Financial Corp, one of the largest mortgage lending companies in the nation. First formed in 1969, Countrywide Home Loans has developed into a large company that can...

    What Are Mortgage Leads

    Mortgage leads help brokers find clients and help homeowners find mortgage lenders. If you understand how mortgage leads work, you can make better choices about your mortgage options. In essence, mortgage leads are bits of information gathered about people who may be seeking a mortgage or who may be looking to refinance an existing mortgage. In today's world, mortgage leads are generally generated via the Internet, although print, radio, and television advertising also play a role. Mortgage leads work in a straightforward way. Mortgage brokers or lenders buy mortgage leads from firms that produce mortgage leads,...

    What Are Private Mortgages?

    Private mortgages, quite simply, are mortgages that are lent and held in Private. They are financed by private money held for loans and mortgages. Sometimes, this private money is called hard money to differentiate it from investments, securities, and barter. Private mortgages are not offered by Banks, Savings and Loans companies, Insurance Companies, and commercial companies, but rather from private citizens. Sometimes, private mortgages are funded by trusts, associations, or retirement funds. Anyone with cash and a little business and legal knowledge can offer private mortgages. Private mortgages can be a great investment, since there is great security with...

    What Exactly Are Mortgage Loans?

    Mortgage loans - or mortgages - can help people afford a home. Few people can afford to pay cash for the entire price of a home. After all, even the most modest homes generally retail for more than one hundred thousand dollars, while the average income earner earns far less than that a year. If there were no such things as mortgage loans, people would have to save up to pay the full price for a home. Not only would this be unviable - after all, couples or individuals would have to put a lot of money...

    What Is A Mortgage Broker?

    When you're shopping around for your mortgage, you may be asked by your real estate agent whether you're going to get your loan from a bank or a mortgage broker; or he or she may recommend a mortgage broker to you to expedite a loan, or even make it possible when you're suffering the effects of bad credit. A mortgage broker is a financial agent who acts as a go-between for you when you're trying to navigate the often-confusing paths of getting a loan. Mortgage brokers know what a variety of lenders are looking for in customers, and they are experienced...

    What Is A Mortgage Calculator?

    A mortgage calculator can be a very useful tool in helping you to determine whether your current mortgage is working for you and to help you determine which mortgage is best for you. You can easily access a mortgage calculator on a number of websites - including websites for companies offering mortgages. In most cases, using a mortgage calculator is free. In the mortgage calculator, you simply enter a number of fields. The computer shows you how much you can afford each month, or how much you can save by choosing a specific mortgage. In most...

    What Is An Auto Refinance?

    An auto refinance is simply a process through which you can refinance your car payments in order to take advantage of lower costs and better terms. If you have an auto loan, an auto refinance can help you save thousands of dollars - if done right. Many companies specialize in auto refinance and will compete for your business, so if you do your research and approach the auto refinance business properly, you can save considerably, especially over the long term. Many auto refinance companies currently out there work by paying off your current auto loan and then having you...

    What Is A Reverse Mortgage?

    A reverse mortgage is a type of loan whereby the homeowner gets back the money they have invested into their mortgage. In some cases, this can be a real boon for homeowners in their retirement years, especially since no repayments have to be made on the loan as long as the homeowner is alive and still living in the house affected by the reverse mortgage. In fact, most reverse mortgage programs are marketed directly at older homeowners; most stipulate that home owners must be at least 62 years of age and must most of the year in the...

    When To Refinance A Home Loan

    Deciding when to refinance your home loan or mortgage is a tricky business. Wait long enough and you may get a good deal. Wait too long and you may not be able to take advantage of good rates. Most mortgage experts agree that such market timing is a mistake many people make when they want to refinance a home loan. You should not look to only the overall market rates when you want to refinance a home loan. So when is a good time to refinance a home loan, you may ask? Here is...

    Where To Get My Best Home Equity Loan

    Q: where to get my best home equity loanA: now we need cash... as much as possible (pls don't ask me why:). the first thing in our mind is the 45k downpay on the house. we have asked few banks arround here for home equity loan. most of the places only willing to loan up to 75% - 80% of the appraised value less mortgage. in our case will be 162*80%-117=12.6k. the rate will be prime+1.25%=7.25. only city bank will take 100% of my equity... however the max is 25k with prime+4.5=10.5...

    Who Should Finance Your Mortgage?

    When you're buying a house, or when you find yourself in need of cash and you're looking around for a loan, you should think carefully about where you get the financing for your mortgage. Several types of lenders offer mortgages: traditional banks, credit unions, savings and loans, and mortgage brokers, to name a few. When you decide who to go with, you should consider several different expenses you'll incur. Mortgage Broker Fees First, mortgage brokers make a broker's fee; much like a real estate agent makes a commission on a house, because they are there to find you the best lender, and...

    Why Choose An Interest Only Mortgage?

    An interest only mortgage may not seem to make much sense at first. After all, on an interest only mortgage, you only pay the interest for a specific amount of time - up to several years. That means that for the first several years, you are not paying off the base sum of your mortgage. If you have an interest only mortgage of $100 000 that has an interest only term of five years, for example, at the end of five years you will still owe $100 000. That initial sum will remain untouched by your...

    Why Get A Second Mortgage?

    A second mortgage is primarily a loan using your house as collateral. It can also be called a home equity loan or home equity line of credit. If you immediately need some extra cash for some reason, a second mortgage might be the way to go. However, make sure you understand just exactly what it means to you when you decide to do this. As with all loans, borrowing money costs you in the long run, and you have to decide if it's crucial to spend more money in the future to get your hands on some money right now....

    Why Refinance A Mortgage

    There are many reasons why you should consider the move to refinance a mortgage. In many cases, if you refinance a mortgage, you can save money or generate money for yourself. Despite the possible benefits, many homeowners are reluctant to refinance their mortgage because they associate doing so with risking their home or with a lot of hassle. In today's financial environment, both these things are less of a worry. Most homeowners today do choose to refinance a mortgage at least once in their lifetimes. If you have had your mortgage for more than four years,...

    Commercial Bankruptcy

    Q: To keep it short, we trusted the wrong person, and are now deeply in debt. I've looked up a few bankruptcy (in Canada) sites, but am still a bit confused. So I have a few questions. How exactly is the debt paid off? Does commercial bankruptcy affect my 'personal things'? (eg. house with mortgage) A: I am unfamiliar with Canadian bankruptcy law. Here in the US, creditors are paid anywhere from nothing to 100%, depending on the details of the case. Your personal assets,...

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