Cesar Swaby asked:




Starting in May home owners who borrowed mortgage loans from the Bank of America have the once in a lifetime opportunity to have their loan repayment arrangements modified. Mortgage principal reduction is a program initiated during president Obama’s restructuring initiative targeted towards helping people struggling to pay back their loans. This loan modification program is regulated by state law even though banks are not actually forced to implement it.

By and large this state stipulation is open to every single American resident finding him/herself in a stressful position of indebtedness owing to the great world financial crisis. However, a small class of borrowers finds it a lot easier to get their principal loan reduced. Therefore if your loan is backed by the federal bank or safely insured you should at least find the modification application approved with great ease.

The process of reduction might appear to be complicated for those of us who are not so well versed with economics and core principles of lending and borrowing. But in simple terms there are three different ways of having the balance reduced to at least 100% of the value. In more ways than one they actually lower the repayments expected to 30% of the borrowers gross monthly income.

In addition to this the interest on the loan can also be lessened to 2%, the repayment period can be extended to at least 40 years or the principal balance on the loan can be reduced to meet your financial capabilities. On top of this every borrower paying back their loan consistently gets to receive a nice $1000 every year for a period of five years. Therefore this is a great incentive program that affords any borrower the opportunity to get right back on track financially.

But do not be tempted to believe that every application will be approved. Sometimes the approval period can last for months on end. So you ought to make sure you have all the required paperwork to make your application smoother and faster.

Manuel

Frank W Ellis asked:




If you’ve been paying on your mortgage for awhile, now may be a good time to take a second look at your mortgage options. Exploring your options could save you a lot of money in years to come.

By refinancing your mortgage at a lower rate you could save a bundle of money over time. Simply put, you can most likely refinance your original mortgage with a new mortgage that has better rates and terms and save a lot of money. If interest rates have dropped since you last financed your home, a new refinance loan could save you 10 – 15 or even 20 thousand dollars or more in mortgage payments.

It costs you nothing to explore your options. In order to determine whether refinancing will save you money, you need only to weigh the costs of taking out a new loan against the savings you gain in reduced monthly mortgage payments.

Here’s the strategy: Comparison shopping. When looking at your options, compare several new loan offers to find the lender with the lowest interest rates, closing costs, and processing fees. That way you can get the lowest overall costs on a new refinance loan.

Here are 5 important questions you can ask loan officers, to determine the true costs of a refinance loan.

1. Are you being charged points?

2. Can you get your low rate locked-in?

3. What is the length of the loan you’re being quoted?

4. Will I be charged a penalty for prepayment?

5. What are the lenders closing fees?

With the information you get on interest rates, points being charged, length of loan, prepayment penalties, and closing costs you can then determine whether a mortgage refinance is in your best interest. Most lenders have quite a bit of flexibility in the area of rates, fees and closing costs. So, if you like to bargain, this is your chance to make a deal that could save you a pile of money. You have the aces, all you have to do is play them!

Lester

Mathew Gaurce asked:




Save yourself money and time with the right mortgage advice. The economic situation as you see today is rigid and allows little scope for flexibility. An insight into the kinds of mortgages and the interest rates will help you better. Those who are looking for mortgages for the first time should take a quick peek at the following advice.

Advice for Mortgage seekers on types of mortgages

Fixed-rate is a type of mortgage loan that maintains the interest rate consistent throughout the loan tenure. The deposit you own and your credit history determine your eligibility for fixed-rate type of mortgage and also the interest-rate. Some prefer to pay a consistent rate each month, irrespective of the conditions of market rate. The name ‘fixed-rate’ actually determines that the interest rate stays stable on repayment loan, unless there economical downturns like recession to plummet the fixed-rate.

First-time mortgage loan makes a first-time buyer to be aware of a few things. He should verify his credit report to provide transparency for creditors who are not going to lend him if they find fault in the report. Remember, the process is different for first time buyer mortgage loans than subsequent home loaning experiences. There is the benefit of maintaining good credit over holding a record of poor credit. Those holding poor credit can refinance their home mortgage when conditions start improving.

A certain percentage of down-payment of the loan for first time buyers is actually an advantage. This guarantees loans to those who are under financial distress and need some credit backing for getting loans. Hence, first time mortgage loan is a kind of mortgage that one should seek after knowing everything related to it in details.

Mortgage firms demand high deposit from buyers to prove their commitment towards mortgage loans. Hence, a first-time house buyer mortgage seeker has to be conscious of what is going round him.

Tracker mortgage is a kind of mortgage whose interest rate is based on the base-rate as provided by Bank of England. In today’s economic condition, the base-rate shows a low rate, which means that a person has to pay almost nothing against mortgage repayment. But the facility is meant only for a short period of time, since the base-rate tends to shoot up when economic conditions improve, thus triggering increased mortgage repayments.

If you are suffering from financial crunch, then ‘interest only mortgage’s can help you exactly. In times of financial distress you just need to be free of the mortgage loan by paying off the cost of interest. Hence, there is no need to worry about the interest and principal amount together that means hefty for you. You are relieved of all your debts but you get to enjoy the privilege for a limited period of time.

When you are trying to learn about the mortgage types, you need to focus on your credit score and verify that there have been no bad records in the past that can turn away creditors or mortgage firms.

Judy

S Kung asked:




Have you been trying to get an approval for a loan with no success? If you are interested in getting a low interest loan then you should consider using the equity in your home to get the loan. Second mortgage and home equity loans are perfect for people who are looking to get low interest rate loans. These loans both have low interest rates that are over the period of a few years.

People with a bad credit rating often find it very difficult to get approval for loans. A home equity loan can help you get that loan that you have been hoping to get. These are secured loans that use the collateral in your home to secure the loans. These equity loans are quite common for people who are looking for a source of finding.

If you are interested in trying to consolidate your high interest debt, you should consider getting a second mortgage loan. These loans are perfect for people who are interested in putting all of their high interest debts into a single low monthly payments loan. You should make sure that you can afford to get the loan before you apply because lenders use your home as collateral. If you fail to repay the loan, the lenders can foreclose your home.

People who are interested in seeking out a second mortgage home equity loan should start their search online. Due to the vast reach of the internet, you can find a variety of different lenders who are willing to give these loans.

Lloyd

Josh Riverside asked:




Florida offers a promising variety of mortgage loan programs. It is just a matter of choosing the right one for you and is largely dependent on your financial situation and circumstance. But with all the many options and terms and the confusing business of getting a mortgage loan, where do you start? Here are some basic things you should know.

3 C’s Equals LTV

Collateral, capacity, and credit. These are the three things banks and brokers look into to determine the rate of mortgage and the LTV or Loan to Value. To define the 3 C’s:

-Collateral is a property or asset that the borrower pledges to the lender to secure a loan. It is subject to seizure in the event that borrower is not able to meet the terms or agreement

-Capacity is the ability of the borrower to pay back the loan according to the terms and can be determined by the borrower’s income or employment

-Credit is the capacity to borrow which should entail a good or clean credit history

If the property is of great value and the capacity and credit are excellent, then there should be no problem in obtaining a loan. However, if one or two is unsatisfactory, the lender will make some adjustments and set more conditions, and this could mean interest bumps.

Online help and tools

One of the best resources for mortgage loan programs in Florida is the Internet. Hundreds of brokers and firms have websites that are very informative and outlines their available programs. What is most useful as well is the on-site Internet tools that can help you determine if you are pre-qualified for a loan and help you estimate your mortgage value. These websites also offer a checklist that you can go through to know what documents and other requirements you need.

Finding a mortgage broker

Hiring a mortgage broker to scout the best options for you is also a wise move. Since mortgage brokers find the best deals for mortgage loans for a living, chances are they know the inside stuff that could help you with your decision. Looking for a mortgage broker could be a daunting task, though. Just make sure that the broker is trustworthy, looks out for your best interest and is not just pushing a program on you for the sake of selling and reaping higher profits. A good broker “custom-fits” services by assessing what you need and reviewing your financial situation, and recommending the most suitable program accordingly.

Richard

Antonio Easter asked:




Do you need money now?
Then looking at a reverse mortgage could be your ticket to removing your financial problems, and retiring stress free.

A Reverse Mortgages loans allows Seniors to leverage the equity in their home. This can be very powerful when one considers the years of sweat equity invested in their home, now becoming an income stream which provides financial comfort for them through their latter years.

The first step to beginning a Reverse Mortgage loans is no different than any other beginnings which so many Senior have experienced through life. They must gain knowledge about a Reverse Mortgage, from a professional trusted advisor. This may mean picking up the phone and calling a financial firm that specializes in Reverse Mortgage, or requesting further information by visiting a Reverse Mortgage website. Those both are great and highly effective ways to get started.

The most important asset that a Senior who is considering a Reverse Mortgage can have on their side, is an expert who specializes in Reverse Mortgages, and who will give them a clear understanding of Reverse Mortgages, along with enough information so that they are able to make an intelligent, and informed decision.

This is very important due to the vast misleading information about Reverse Mortgages that is available online today. This also will free Senior from any misleading information that they may receive from loving but misinformed friends and family.

Get a Reverse Mortgage Expert Advisor on your side!

Reverse Mortgages have been designed with the Seniors benefit in mind. Reverse Mortgages provides Seniors with a couple of options as to how they desire to receive their cash. Not only this, but they also make sure that Seniors clearly understand their Reverse Mortgage without question. This is accomplished through a third party source, who has no interest, or relationship with the financial firm of the Seniors choice. Seniors are required to attend a counseling session with the third party, to ensure their 100 percent understanding of their Reverse Mortgage. Seniors can relax in the fact that the process is on their side.

A Reverse Mortgage is different from a traditional mortgage in many ways. Seniors can qualify for a Reverse Mortgage with less than perfect credit, no income, and a list of other would be requirements in the world of traditional home loans. Allow me to give comfort to you who are saying “wow, less than perfect credit . . . my credit is shot!”. Yes, you too can get a Reverse Mortgage, even if your credit has suffered from a wild, wild west shoot out.

Across the US, many Seniors are now reaping the benefits of many years of investing their lives into their homes, and you can too.

Warren

Ernesto Maitim asked:




Home owners in need of home mortgage refinance loans for the very first time actually need ample advice and assistance during the whole application process. Indeed, while a prospective refinancing client can get all the information from the internet by self-researching, it can certainly be a tedious if not long process.

Whether he learns all by himself or gets the information from a loan professional, what is important is to be able to acquire enough information that will help him properly refinance a home mortgage.

There are two effective ways by which one can get tips and advices on how to obtain home mortgage refinance loans without so much trouble. First of all, he can consult his friends and relatives, particularly those who have already gone through the process. Definitely these people who recently have just refinanced their mortgage gained a great wealth of information and experience that led to their obtaining a good mortgage.

Wise and helpful words of advice are surely what friends and family members can provide once they know that you are in the market to refinancing a mortgage loan. They are willing to share you the lenders who offer the best and lowest interests and as well as those who are truly concerned about the loan needs of their clients.

Another way to obtain sound advice on getting home mortgage refinance loans is to ask professionals on the field. However, expert advice are available but not without professional fees. Some experts might be expensive when it comes to their fees, but many home owners are more than willing to pay if only to get assurance that they are doing it the right way. Indeed, the process to refinance a home mortgage can be costly if accompanied by professional assistance. But still, such fees can be considered worthwhile if in the end it means significant savings for the home owner.

Marlene

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

Louie Latour asked:




Many homeowners fall on hard times with their finances at one time or another. Loss of a job, divorce, illness, or the death of a family member can quickly put your budget under water. Fortunately, you have a number of options to reduce or even defer your mortgage payments. Here are several suggestions that could help manage an unwieldy mortgage payment until you are back on your feet.

I. Contact Your Mortgage Lender

Believe it or not, contacting the mortgage lender before you are behind and explaining the situation could be the answer to your financial problems. Mortgage lenders will generally work with you as long as you contact them before you’re in serious trouble. The mortgage lender may work out reduced or even deferred payments for several months simply by asking. It is usually in the best interest of the mortgage lender to keep your home out of foreclosure. Remember, you will find the lender much more accommodating if you ask before you’ve dug yourself into a deep hole.

II. Mortgage Refinancing Could Lower Your Payments

If the mortgage lender is unwilling to help you with reduced or deferred payments, consider mortgage refinancing. There are a number of loans that can significantly reduce your payment amount for a number of years. Interest only and hybrid loans are two options to consider depending on your tolerance for financial risk. Interest only mortgages allow the lowest payment amount because you are not paying any of the loan principle during the interest only period; this interest only period often lasts as long as five years.

If you have less tolerance for risk, consider a hybrid mortgage. Hybrid loans are a blend of fixed and adjustable rates that will give you a low payment like an interest only mortgage, without the same level of risk. Extending the term length of the loan type you choose will further reduce your payment amount. Traditional mortgages come with thirty year term lengths; however, there are now forty and even fifty year mortgage loans. By choosing an interest only or hybrid mortgage with the longest term length, your payment will be significantly reduced. This new, significantly lower payment amount will allow you to take back control of your budget.

III. Shop Around for the Best Mortgage Loan

Once you have decided mortgage refinancing is right for you it is important to shop around for the best lender. Homeowners often make the mistake of assuming the mortgage with the lowest interest rate is best; these homeowners neglect to factor in lender fees and closing costs, often overpaying thousands of dollars for the new loan. You can learn more about mortgage refinancing while avoiding costly mistakes by registering for a free mortgage guidebook.

Eva

Louie Latour asked:




A well known author named Theodore Sturgeon once said “Ninety Percent of Everything is crap.” This became known as Sturgeon’s law and is even quoted in the Oxford dictionary. Sturgeon’s law is alive and well when it comes to the Internet and the mortgage advice you find online is no exception. Here are several tips to help you separate the wheat from the chaff when it comes to online mortgage advice.

I recently read an article online offering suggestions on how one could save money when refinancing. The article suggested that you should concentrate your efforts on finding a mortgage broker that worked on a non-commission basis. The author stated that non-commission loan representatives are less likely to overcharge you and have your best interest at heart when refinancing. While this sounds like good advice, it’s actually complete rubbish. If a mortgage company or broker tells you they work on a non-commission basis, you are guaranteed to pay too much refinancing with that company. Calling someone a “Non-commission loan representative” is just a slick marketing trick to gain your misplaced trust.

Here’s what that author doesn’t understand about the mortgage industry. Mortgage loans are simply retail products, just like televisions. Just as an electronic store marks up the price of your TV, the mortgage company or broker marks up your interest rate without telling you. This is in fact, how mortgage companies and brokers make the majority of their profits. It’s not commission; they make money from retail markup. You’re already paying origination points to this company for the new loan, so why should you pay double?

Here’s a summary of how it works. You qualify for an interest rate based on your credit and the details of your application. That interest rate is not set by the mortgage company; it comes from the wholesale lender. The mortgage company receives a written guarantee of your rate from that wholesale lender. Your mortgage company turns around and provides you a separate written guarantee for a higher interest rate. This markup by the mortgage company is called Yield Spread Premium. Homeowners that learn to recognize Yield Spread Premium when refinancing their mortgage loans can avoid paying it.

Can you see how the advice this author gave in their article could result in overpaying for a new mortgage loan? To learn more about mortgage refinancing while avoiding bad advice, costly mistakes, and Sturgeon’s law, register for a free mortgage guidebook.

Jo

Kelly Liyakasa asked:




If you’re like many homeowners, you dream of better days when your property is paid in full and you don’t have to make those dreaded mortgage payments anymore. But, getting back to reality, many are turning to mortgage refinance services in order to cut their monthly loan payments or to extend their loan periods. Keep these hints in mind before choosing a refinance plan:
When to Refinance: When you already have a mortgage and wish to apply for a second, be sure the amount you save on interest rates balances fees paid during refinancing. Lending Tree is a great resource when debating the ‘apply/not to apply’ question, as they offer certified lending and allow you to compare multiple offers online. Loan Options: Determine whether a fixed rate mortgage or adjustable rate mortgage is in your best interest. Fixed rate mortgage monthly payments tend to remain steady despite market conditions. E-LOAN allows you to compare both loan options and to outweigh the pros vs. cons before you make your decision. Cash-out refinances: These allow you to refinance with a loan amount larger than your current mortgage…while you keep the cash difference. The catch? Your home equity must qualify before you can go through with it. No Closing Cost Refinances: If you wish to save on up-front fees, this is probably your best choice. Depending on whether or not the prevailing market rate is lower than your existing rate by at least 1.5%, you are sure to reap the benefits.

Websites such as E-LOAN provide mortgage refinance loans, as well as useful information on home equity, home and auto purchasing, and personal loans. Utilizing features such as ‘The Loan Advisor’ allow you to enter information such as credit ratings, how much you intend on borrowing, estimated property values, and current mortgage balances. They, in turn, will recommend which loan route to take. Remember, saving money is key in your refinance loan search.

Caroline

John Preest asked:




There are many reasons why one may need professional mortgage advice. For example, you may be a first time home buyer, or you are not familiar with certain mortgage rules and regulations. Speaking with a professional mortgage advisor will help you avoid costly mistakes.

A mortgage is a huge and long term financial commitment. Obviously, being behind in mortgage payments is not exactly fun. In serious cases, the lenders will execute their legal rights and foreclose the property, leaving the owners homeless. Usually, such problems can be avoided with proper financial planning. That is the main reason for consulting a professional mortgage advisor.

Another good reason for engaging a mortgage advisor is because there are too many different types of mortgage loans in the market. This situation arises because different people have different needs. For example, there are first time buyer loans, self employed loans, variable rate loans, bad credit loans and more. A professional advisor will be able to make the proper recommendations to narrow down the scope for you. This is to ensure that you don’t end up with the wrong mortgage type.

In addition, professional advisors will also be on hand to offer you information that would have been difficult to obtain. For instance, you can ask about the maximum loan amount that you qualify for, the deposit required (if any), or whether there are other costs such as stamp duty. Such information will help you come up with better financial plans. Otherwise, you may find yourself coming up short of funds and having your mortgage applications rejected.

Also, since professional mortgage advisors are actively seeking out the right mortgage loans to fill the needs of their customers, they are more likely to be aware of the best deals in town. As they are in a better position to negotiate for competitive rates, you may get to enjoy lower interest rates.

Some buyers tried to apply for mortgage loans on their loan but their applications were rejected for some reason. The most likely reason for rejection is probably bad credit. Therefore, these loans are also commonly known as bad credit loans.

Professional mortgage advisors may be able to help these buyers get their loans approved. This is because there are lenders who specialize in handling bad credit mortgages, and mortgage advisors already have an existing relationship with these lenders. So it is easier for them to get a bad credit mortgage approved.

As the economy rises and falls, some homeowners find that they may not be able to cope. In such times, bad credit mortgage services become extremely useful.

Besides mortgage services, a homeowner may also require additional services such as debt consolidation services. This is another reason why professional mortgage advisors should be hired. They are able to provide comprehensive financial services to alleviate financial burdens.

Finally, when engaging the services of a mortgage advisor, make sure that the advisor is not tied to any lender. If so, the lenders may be paying them commissions to help promote their loans. As a result, they may offer advice that is biased.

Daniel

Ernesto Maitim asked:


tend to save money as you deal with your debts, the best way to achieve this is when you refinance mortgage loans. However, when going through the refinancing process, one should be prepared for all the right process to undertake as well as the necessary costs that are needed to be paid. Careful study of the possible options in refinancing should be done to maximize the financial benefits and avoid future problems. When it comes to the costs that go with the process, many are included such as fees of processing and settlement, points, the closing costs. To be aware of such loan beforehand will help the individual become ready to such costs. Once you refinance mortgage loans, these costs must already be considered even before your application; doing this will help in the reduction of interest rates and thereby increase whatever savings you may earn. If you have an adjustable rate loan, the interest rates are bound to increase. Refinancing helps in getting a new loan at a much lower rate. Apart from low rates, one can enjoy such other great benefits like better payment terms, less amount in yearly fees, shorter loan duration and best of all, reduced monthly installment. It is advisable to check if prepayment penalties exist. If so, then the process of refinancing is useless if the penalty exceeds saving, which is likely. Costs when you refinance mortgage loans are quite similar when applying for the original loan. There are the application deposits and the insurance policies. Other fees include those fees and costs for re-appraisal, and the process of transferring from adjustable to fixed rate. Many lending and mortgage services companies are not the same in charging costs accompanying the process of refinancing. It is best to consult your prospective lenders to really clear things up regarding refinancing costs and fees. For more refinance home mortgage and other mortgage and loan articles, do visit us at Refinance Home Mortgage for You blog.

Marion

natalya_sevastopol asked:


I ‘m tax preparer, and I did tax return for my client. I’m not sure that I did wright. I want to open Follow-up to case 30270 and fax 1099c, 1099A and Form 982.Can I do that? Can you help me for Federal and CA. It was the first house and two mortgage loans just for home. Client lost home. Please advise. Thanks

Norman

Diannelogan asked:


With an extremely large crowd of lenders ready to provide you with a mortgage loan for your house, getting a mortgage nowadays proves to be hardly a problem for anyone. But getting a low interest rate, affordable mortgage with flexible repayment terms is still a major problem. Considering the fact that you can end up paying thousands of dollars extra if you land with a bad mortgage deal, here is a list of a few things that you need to know in order to negotiate the best mortgage loan deal:

1. There Are Two Main Types Of Mortgage Loans: Mortgage loans are broadly divided into two main types: fixed-rate mortgages (FRM) and adjustable rate mortgages (ARM). While you will find that the conditions for applying for an ARM loan are easier and they come with lower initial rates, a fixed rate mortgage is generally advised for people who are planning long term periods. This is because a fixed rate mortgage loan, which may cost more than an ARM initially, requires the payment of the same rate of interest starting from today onwards till a period of twenty to thirty years. On the other hand, an adjustable rate mortgage’s payments will vary every month based on a number of indices. However, an ARM will provide you with a lower rate of interest initially which might go up later on.

2. Your Credit History Matters: Your credit score is a major determinant nowadays of the kinds of interest, terms and conditions that you will get on your mortgage loan. If you have already taken out a number of loans which you have paid or are paying back on time, you have a higher chance of getting a low rate mortgage than someone who has never taken credit for a car or a house. Secondly, having a high credit score and a clean credit history can often slash back a number of points off your mortgage loan’s interest. Therefore, it is advised that you clean up your credit report as much as possible and get your highest possible score before you apply for a mortgage loan.

3. The Best Mortgage Loans Are Available Online: Not only are most reputable banks and lending institutions now providing loans over the internet, there are a number of new but reliable companies that are also dispensing mortgages online. Online loan companies get the advantage of garnering an extremely large market for a very small cost when compared to brick and mortar lenders. But the competition on the web is also higher than that in real space. As a result, most online lenders will not only provide you with lower interest rates, they will also charge you lower processing and other fees. So make sure that you do your research well and get quotes from online mortgage providers before you sign on the dotted line. While you compare interest rates and term periods, do not forget to compare all the fees that different lenders charge you for the same loan.



Chester

Dilip asked:


These days, many banks and financial institutions are ready to offer mortgage loans to people with good credit history. Moreover, they are ready to offer different types of mortgage loans that suit different people with different needs. The following points present some of the different varieties of such loans that banks and financial institutions offer:

 

1. Term Loans with Fixed-Term Repayment : These are normal term loan schemes where you get a loan for a fixed duration. The rate of interest can be fixed or can vary based on some benchmark rate.

 

2. Overdraft-Loan : These are loans in the form of current account overdraft where surplus funds can be parked and therefore interest burden can be minimized. Every month, the overdraft limit is reduced as per the Equated Monthly Installment (EMI) amount.

 

3. Flexible-Loans : These are loans with a fixed rate of interest for one part of the loan and a floating rate of interest for the other part. It can be designed as per the convenience of the applicant and up to what is allowed under the rules of the bank/financial institution

 

4. Fixed Interest Loan: These are loans with a fixed rate of interest for the entire duration of the loan. It is well protected against market rate fluctuations. Generally, these rates are somewhat higher than the market rate.

 

5. Floating Interest Loan: Floating rate of interest is the rate that is linked to the Central Bank’s (Federal Reserve) prime lending rate. If the Central Bank increases (decreases) the prime lending rate, then the bank/financial institution also increases (decreases) its interest rate.

 

Generally, it is advisable to go for floating rate of interest as the rates will be lower when the economy

If you want to know more about getting a mortgage loan visit Mortgage Loanand it is always worthwhile to know about other alternatives that are available. To know about home loans visit Home Loan

 



Anita

J W asked:


Objective
Seeking a position in which I can use my work experience, focused education, analytical ability, communication
Skills, and strong work ethic.

Skills
Financial Ratio AnalysisFinancial Report CreationSpreadsheet Usage
Oral/Written PresentationsMulti-Tasking ProjectsSpecial Projects
Employee TrainingPersonnel SupervisionSales Skills
Clear CommunicationBudget Cost ControlsSoftware Knowledge
Problem Solving AbilityInterpersonal CommunicationAttention to Detail

Experience
2006-Present Empire LendingWest Covina, CA
Account Executive
* Analyzed borrowers’ repayment ability, degree of leverage, and collateral strength using financial ratios.
* Supervised the underwriting quality and regulatory compliance of an aggressively growing loan pipeline.
* Managed multiple projects simultaneously, achieving objectives under time and resource constraints.
* Participated in a variety of real estate-related committees which focused on market and industry trends.
* Trained, reviewed, mentored, and supervised a team of new sales staff and sales support personnel.
* Prospected, marketed, and closed mortgage loans while assuring accuracy and client confidentiality.
* Successfully built a referral network of real estate brokers, attorneys, builders, and accountants.
* Pro-actively contacted existing clients to determine relationship strength and retain future business.

Education/Training
* Graduate, Citrus Community College (Glendora, CA), AS, Business Studies, 6/07.
* Familiar with MS Word, Excel, PowerPoint, Outlook, and Internet.
* Graduate, Bonita High School (La Verne, CA), College Prep Focus, 6/05

Civic
* Volunteer, Various Community and School Activities

Client references available upon request.

Gina

Allan Smith asked:


Agricultural mortgage loans have an important role in the development of mortgage loan financing. Before the onset of industrial revolution, people used to opt for rural mortgage loans on a regular basis. However, after the industrial revolution and the development of real estate properties, the mortgage companies shifted their stress from a rural mortgage loan to a residential property mortgage or home mortgage loan. The downfall in agricultural growth has further pushed the market farther away from the agricultural mortgage loans.

This situation has led the governmental economic policies to take serious steps for reviving agricultural mortgage finance. The efforts from both the governmental and private financial sectors have built new structure of agricultural loans, keeping in mind the changing demands of the new age farmers.

A mortgage loan is a kind of loan that can provide you with a considerable amount of money by taking any property as the security of that loan. An agricultural mortgage loan is one which uses the borrower’s agricultural property as the collateral for the loan. This means, if after taking an agricultural mortgage loan you fail to pay it off, then the agricultural property that has been given as the security for the loan, can be seized by the lender.

The agricultural mortgage loans can help you in both purchasing a new property and developing the existing one. The lenders offer this loan to buy new lands for farming, or to buy new machineries to improve the production rate of the current business. Few rural mortgage loans offered by the rural mortgage lenders provide a lump sum to start agricultural business with lower interest rates. This is done mainly with an aim to encourage people to invest in agricultural business and thus to strengthen the national agricultural growth. There are specialized agricultural mortgage lenders for this particular proposition.

The interest rates offered by a lender can be of varied interest rates and of different term periods. The principal amount is generally decided through a property evaluation of the rural land by the lender. In most of these cases, any location with good commute flexibility plays a more important role than the total production value of the land or property. The mortgage interest rates can be both of fixed rate and variable rate. The repayment options also can be of different types; for example you can choose interest only mortgage loans to pay only the interest amount for initial period. The tenure period can be stretched from one year to 30 years.

A rural mortgage loan is highly flexible and comes up with loan refinancing option. As you refinance a loan you take a new loan to avail more suitable terms and conditions than the previous loan. This applies in case of tenure period or interest rate or other rules and regulations. For example, if your current mortgage loan has a high interest rate, you can refinance mortgage loan to avail a lower interest rate. With a refinance loan you can also stretch up or shorten the tenure period of your existing agricultural mortgage loan. However it is always advisable to do a thorough research and opt for a suitable lender before choosing the best of the agricultural mortgage loans.



Vincent