Kevin B asked:


I have a mortgage blog that describes the mortgage process in detail to help people better understand what they can do to get approved.

I’m going to use the obvious keywords like “mortgage, loan, equity, etc.” but I know that my small little site has no hope of listing high with these VERY popular terms. I’m using these for Meta Tags but also with articles that I’m submitting for ezines.

Does anybody have any advice for me to get more hits on my articles and website?

Thanks.

Connie

terrigo2002 asked:


I’m interested in getting a home loan in chicago with a credit score of about 560 no debt money saved with my father who is disabled we would like to do this together but he gets a limited income from SSI . Anyone have any suggestions thanks so much

Loretta

deserae007 asked:


I am going to work as a loan originator for a small company but I am having trouble finding potential borrowers. I thought leads would get me off to a good start until I make better contacts. I am young and unexperienced and this is my first loan/mortgage related job, so I need as much advice as possible. Please help!!!

Samantha

Dispirited asked:


I am 20 yrs old I bought a duplex 4 months ago for 147,600 its appraised at 148,000 so I got it at top dollar. I got financing on 80/20 80%@7.5 adjustable rate (will go up in 2 years guaranteed) and 20%@10.75 fixed rate. I will be paying interest for the first 2 months. I am losing $200 on this monthly w/ tenants living there. It’s suppose to be my primary residence. Refi penalty for the 80 loan is $3600 and no penalty for 20%. So my question is I got a loan on stated income, I figured I am losing $200/month*24=4800 in 2 years interest only from my own pocket. If I refi now $3600 penalty and maybe $3000 closing cost (estimation) so that’s $6600 loss which I can live with 6600-4800=1800 difference I can live with that. But if I refi 30 yr fixed rate I have very low income i am a college student can I get possibly better rates to lower my down payment, I want to refi 0% down fixed 30yr rate is that possible? I want some advice plz I don’t want to go bankrupt in 2 yrs when rates go up!
I’v been reading lately on the internet about
the dangrous 0% down ARM loans mortgage companies
give out so easily, I thought I was just a lucky one
pft, no way, I got caught into it. But I want to keep
the property I don’t want to sell. Are my numbers correct
or am I just a bad dreamin investor wannabe? My credit
score when I got the loan was 700, I’v been paying
everything on time so it should have gotten up there
I hope I can get the fixed loan. I deeply appreciate
your advice. Thank You in advance

Annie

Richard Pettinger asked:




Rising house prices in the UK (and other countries) have made it very difficult for first time buyers in the UK. The ratio of house price to earnings has risen significantly. With average house prices rising to over

LocalBoy asked:


I have numerous credit cards, 2 mortgage loans, and 1 personal loan. I got enough money from tax return to pay off the personal loan OR 1 credit card. I don’t know which one to do. Any advice will help, thanks!!

Kathleen

Steven Clarke asked:




Re-mortgaging poses many financial risks, but it also poses an opportunity to increase your property investment return by increasing the value of your home. Many people re-mortgage their home and use the money that they have earned in property capital to go on holiday, pay off bills or spend lavishly for the short term. All that they are left with at the end is another full term mortgage. They are exactly where they were when they first bought their home.

There is another alternative. If you re-mortgage your property and use the capital earned to make improvements to your home, you can earn back all of the money that you refinanced plus some. The following are some of the smartest upgrades and improvements that you can make using the equity in your home:

o Kitchen – An upgraded kitchen among the best home improvement that you can do. The return for fully refurbished kitchens is nearly 100%. Additionally, buyers look for a great kitchen when they are shopping for a new home. A nice kitchen could mean the difference between your home selling quickly for top price or sitting on the market forever.

o Bathrooms – Master bathrooms sell homes. If your home does not have a master suite, it’s time that you create one. Not only will a master suite help you sell your home more quickly and for a higher price than you would otherwise have been able to, it will make living in your home more enjoyable. You should also make sure that there are plenty of bathrooms in relation to the number of bedrooms in your home. For example: A five bedroom home needs two bathrooms minimum, three is ideal.

o Addition – An addition to your home increases the size of your home which directly impacts its value. Adding a bedroom, family room or any other type of living space dramatically raises your selling price. You can expect to receive all that you invested plus some.

o Outdoor upgrades – Re-mortgaging to pay for landscaping is a smart move because it doesn’t take that much money to improve the outside appearance of your home, yet the return on your investment will be great. Outdoor living spaces such as patios and outside kitchens also attract buyers depending on which neighborhood your home is located.

o Premium upgrades – Premium upgrades such as granite countertops, pools, gyms and home theatres can increase the value of your home as well. Be careful, though. If your home is not situated in a high-priced neighborhood, premium upgrades could be overkill.

Re-mortgaging your home to pay for home improvements is a great way to increase the value and marketability of your home without investing money out of your pocket or savings account. Re-mortgaging allows you to enjoy a nicer home today and a higher selling price tomorrow. What better way to use the capital that you have built up in your home?

Kathryn

Nasim P asked:


hi,

I have mortgage with chase and I am trying to modify my loan for a lower interest rate. After talking to the loan modification department, adviced told to skip my payment for 3 months, and set the money aside. My question is
1) Will it hit my credit report and hurt my FICO score?
2) if so how long it will stay in my credit report.

Thanks in advance for the advice.

George

Carmen

Dispirited asked:


I am 20 yrs old I bought a duplex 4 months ago for 147,600 its appraised at 148,000 so I got it at top dollar. I got financing on 80/20 80%@7.5 adjustable rate (will go up in 2 years guaranteed) and 20%@10.75 fixed rate. I will be paying interest for the first 2 months. I am losing $200 on this monthly w/ tenants living there. It’s suppose to be my primary residence. Refi penalty for the 80 loan is $3600 and no penalty for 20%. So my question is I got a loan on stated income, I figured I am losing $200/month*24=4800 in 2 years interest only from my own pocket. If I refi now $3600 penalty and maybe $3000 closing cost (estimation) so that’s $6600 loss which I can live with 6600-4800=1800 difference I can live with that. But if I refi 30 yr fixed rate I have very low income i am a college student can I get possibly better rates to lower my down payment, I want to refi 0% down fixed 30yr rate is that possible? I want some advice plz I don’t want to go bankrupt in 2 yrs when rates go up!
I’v been reading lately on the internet about
the dangrous 0% down ARM loans mortgage companies
give out so easily, I thought I was just a lucky one
pft, no way, I got caught into it. But I want to keep
the property I don’t want to sell. Are my numbers correct
or am I just a bad dreamin investor wannabe? My credit
score when I got the loan was 700, I’v been paying
everything on time so it should have gotten up there
I hope I can get the fixed loan. I deeply appreciate
your advice. Thank You in advance

Dolores

Bruce Swedal asked:




Though Homeowners have plenty of choices to re-finance their homes, most of the homeowners find themselves very busy by this ample of options, even though this task or process may not be so difficult or tough.

A few easy steps can provide greater assistance to these homeowners in solving this task:

1. First it requires homeowners to resolve their re-financing goals.
2. Next, they should seek advice from a re-financing specialist.
3. Finally, they should take a firm decision on whether re-financing is necessary or not, since re-financing may not be a best solution.

Establish your objective for Re-financing:

Re-financing process requires the homeowners to establish or resolve their re-financing goals first and also to assure whether re-financing is necessary or not. As the answer to this question varies, none of the solutions are considered to be accurate or incorrect. The only reason for homeowners to consider re-financing is to achieve their economical objectives. There are certain motives intended for re-financing that are more common among all the homeowners.

The motives include:

1. Falling monthly finance payments
2. Strengthening accessible debts
3. Reduction in the sum of interest that is being paid over the period of loan
4. Gaining fairness earlier
5. Repaying the loan more rapidly.

Apart from these criteria or reasons, there are also few other popular reasons as to why homeowners consider for re-financing. For the intention of allowing the reader to think, few reasons are incorporated in this article. Either the reader may have a totally unique reason for re-financing or his re-financing approach may fit into any of the above strategies. As it is very difficult for a homeowner or a financial advisor to find out the best or pre-eminent re-financing alternative, the reason for re-financing is totally different from determining its reason.

Consulting a Re-Financing specialist:

In order to resolve the appropriate re-financing approach, homeowners are recommended to visit a re-financing specialist and this happens only after the homeowner has taken a firm decision on re-financing. Even-though this approach sounds economically feasible, it is still geared to satisfy the requirements of the homeowners.

The choice of consulting a re-financing specialist can be skipped off, if the homeowners are experienced in the area of re-financing. But a few homeowners may not be conscious of the latest re-financing choices, hence it is recommended to visit re-financing expert. Though the lack of complete knowledge for re-financing may not look like a big pact, it usually results in an important crash. Most of the homeowners may not be conscious about their mistakes, but they can get more complimentary conditions from their friends or relatives who re-financed over similar conditions.

Determining “Not Re-Financing” as a feasible Choice

Homeowners who consider re-financing may involve in estimating different re-financing alternatives to find out which alternative suits their goals. But a few homeowners fail to realize that it is also equally important to consider “Not-refinancing” as an alternative. This situation is referred as “does nothing” alternative, because it results from the conditions that occur, if the proprietor doesn’t alter his finance or mortgage situations.

Each re-financing alternative requests the homeowners to evaluate the monthly payment, rate of interest remunerated during the period of loan, the year in which loan will be entirely repaid and also how long he is required to stay in the residence to get back the outlay coupled with re-financing. These issues are very important for the homeowners in order to determine their current finance and also they serve as an essential factor for comparison principles. The numeric computation yields the best option or alternative that is obtained after comparing these results.

If this investigation does not defer a clear answer, then homeowners can estimate the secondary principles in order to make a best feasible decision.

Ryan

Susan V. Gregory asked:




Over

Michael A. Goldstein asked:




If you are behind on your mortgage payments or are struggling to stay current on your loan payments, you may have considered refinancing your loan. However, if you have been turned down for a refinancing, and your home is worth less then you owe on it, you may be able to modify your loan. Below are several tips to successfully modify your existing loan, even if you do not have good credit.

Prepare a detailed document listing all of your income, assets and debts both secured and unsecured. More specifically, you should list out any income from wages, investments, social security, etc. You should also list any assets you have, such as investments, stocks, bonds, money in any checking or savings account, 401K, and fair market value of any additional real estate. You should list out all secured debts, such as 1st and 2nd mortgages, car loans, and any credit cards that use property as collateral, such as jewelry. Finally, you should list your home expenses, such as utilities, credit card bills, educational expenses and any other monthly expense that you incur. Draft a short hardship letter. Every loan modification has a story behind it. You need to tell the most compelling story as to why you can not stay current with your mortgage, or why you need to modify the loan to enable you to conduct some other life necessity. Prepare all of your financial documents such as: two years of tax returns, six months of bank statements, three months of pay stubs, Proof of home insurance. Form your negotiation strategy You want the bank to believe it is in their interest to modify the loan. As such, you want to remind the bank that you do want to remain in the home, but should no modification be entered into, you may have to file bankruptcy and force the lender to foreclose on your home, thereby incurring all of the legal fees and financial losses of selling your home in a depressed market. Always ask for more then you expect or want (It never hurts to ask) You want to leave room to negotiate to your eventual goal Typically start at 70% of your goal. When forming your offer, make sure you have thrown in a few items, you do not need, but can use a bargaining chips by taking them off the table. When the bank makes their first offer, you want to counter without emotion. For example you can say “let me see if that number will work for me, I need to run my numbers and get back to you with in 48 hours. I will need to speak to my attorney or broker first.” As discussed earlier, when negotiating with a bank, you may want to imply that should the loan modification or short sale not work out at the walk away price, the bank will end up taking the property and incur all the foreclosure sale fees involved. This is especially important in a depressed market, where it is unlikely the bank will recoup their return on investment. Banks do not want to owe properties in this market.


If after talking with your lender you have not received the results that you need, please feel free to contact our law office.

Willie

Peyton asked:


Please Please go easy on me, I am hoping to be a first time house owner.

Two Questions:
1) If a house you are buying is appraised for $30,000 and you are buying the house for $20,000. Can you get a loan (mortgage) for $30,000 (so I can take the extra $10,000 to fix up the place)?

2) What would be one advice would you give a 1st time home buyer, that YOU wished you knew when buying a house.

Thank you!

Sue

Ivan A Cuxeva asked:




Anyone who has experienced problems clearing CCJ debts can apply for a mortgage. The product that may suit your circumstances is sometimes called a CCJ default mortgage. Although there are many products specifically designed for those with a bad credit history, a CCJ default mortgage scheme needs specialist professional advice. If you are incapable of clearing your CCJ debts, then mortgage lenders may see you as a high risk candidate especially when the loan amount is large such as a mortgage. You may find that lenders will apply higher interest rates or special restrictions on you. The easiest method of finding a product that suits your CCJ default mortgage requirements is to speak to a professional mortgage adviser that specializes in bad credit mortgages.

How Can I Get Professional CCJ Default Mortgage Advice?

If you have had any County Court Judgments against you, you are obligated to pay the debt as soon as possible. If you manage to pay the debt before it is registered on your credit rating, then you may circumvent adding the CCJ to your credit history. If you are unable to pay off the debt during this period, the CCJ will stay on your credit history for six years, whether you clear the debt or not. Defaulting on a County court judgment can be harmful to your credit rating, because the CCJ would have been issued for non-payment of debt in the first place. If you then neglect to attend to the CCJ, your credit rating can suffer.

If you are in CCJs default and you want to buy a property, mortgage advice is absolutely essential to your success. There are many specialist mortgage schemes available to CCJ default applicants, and because of the rise in the number of people who have CCJs issued against them the amount of products in the market is growing. It is estimated that every year over a million UK residents have County court judgments issued against them. Due to the increased demand for bad credit mortgage products, lenders have introduced a wider range of schemes for the various types of credit problems that now exist.

The best place to get CCJ default mortgage advice and information is by contacting a specialist bad debt mortgage broker. By law, mortgage brokers have to be professionally qualified, regulated and approved by the Financial Services Authority (FSA). These measures were introduced to protect consumers and all mortgage brokers must follow strict FSA guidelines. If you need a CCJs default mortgage, you should make sure that the mortgage broker you choose has experience of the bad debt mortgage market. These specialist products can be very complex so it is vitally important that the broker understands both your situation and all the schemes available before they recommend any products to you. Signing up for a CCJ default mortgage is a big obligation so you, the broker and the lender must be absolutely sure that you are able to meet the full criteria of the agreement before the loan is agreed.

Are CCJ Default Mortgages More Expensive?

You should be aware of the fact that that a CCJ default mortgage will cost more than a standard residential mortgage loan. From the lenders perspective there is more risk involved in loaning money to someone with a bad credit history than to people who have not had debt problems. However, interest rates and charges for bad credit mortgages are much more competitive than a few years ago, because the market is far more competitive. So although the cost to you will be higher than a standard mortgage, they may not be as high as you might think.

Samuel