Learn If Adjustable Rate Mortgage Benefits Are Right For You by Marcus Prellie

When looking into getting a mortgage you should consider various options. One idea to use is that of an adjustable rate mortgage. It is a mortgage that uses a rate that changes as an index it belongs to changes. To understand this option you should look into the adjustable rate mortgage benefits that you can use.
A great benefit deals with the rate your mortgage will use. This mortgage is based on the movements that an index it works with makes. When that index goes down your rate goes down with it. What makes this a great benefit is that no refinancing is needed. Handling your mortgage will be easier to do when the rate declines.

This mortgage can also be used when taking a mortgage from a previous owner. When you take a mortgage from another owner you will assume that mortgage. When using an adjustable rate here you will not have to deal with a fixed rate. This is important because many people who give up on mortgages do it because of high fixed rates. With an adjustable mortgage this will not be a problem.

You can save money easily through this mortgage. This is because during the first couple of years of this mortgage the rate will be low. As this time expires the mortgage will go to its normal index-based rate. This part of the mortgage is great if the rate goes down. When this happens the payments you make each month will be less in value.

The use of a fixed rate at the start of your mortgage can be great. In this case you will be able to choose the length of your fixed rate. It can be for as long as ten years in many cases. When this fixed rate period expires the rate will go to its normal level. It will also change every year. You will be able to have more freedom for handling your loan with this option.

Initial payments made on your mortgage can also be low. What makes this benefit great is that you will be able to borrow more. You can get money for something that is more expensive.

An adjustable rate mortgage is a great choice to consider when looking at its benefits. It is an affordable option that can work out over time. You can even get control of this mortgage when you use it.

Unconventional Mortgages by Brian King

Negative amortization loans might not be as popular as other mortgage products, but they may be more appropriate for certain buyers in unique situations. Mortgage solutions that can be classified as negative amortization loans include:

•Graduated payment mortgages
•The option adjustable-rate mortgage (ARM) or flexible payment ARM
What is a Negative Amortization Loan?

A regular mortgage payment pays the interest due on the loan and a portion of the principle, and reducing the loan is known as amortization. A negative amortization loan is a financing option whereby the regular payments made by the borrower are so low that they neither pay down the principal nor pay the interest entirely. Consequently, the balance of the loan owed to the lender continues to increase, and is, therefore, referred to as negative amortization.

Homebuyers who do not have a great deal of extra income and cannot contribute large monthly payments often choose a negative amortization home financing product. However, in order to keep your debts under control, it is necessary to increase the amounts of your regular payments later in the mortgage's life. Otherwise, when you sell your home, you could end up owing your lender more than the house is worth.

The Basics of Graduated Payment Mortgages

One type of negative amortization loan is the graduated payment mortgage (GPM). With a GPM, the regular payments start low and gradually increase over a specified length of time as the mortgage matures. Because the initial lower payment amount is used to determine qualification, a GPM is great for borrowers who might not otherwise qualify for a mortgage. This type of mortgage is designed largely for younger borrowers who forecast greater financial earnings in the future, though they may not presently be equipped to carry a conventional mortgage.

The drawback of the GPM is higher interest rates than other types of fixed-rate mortgages. Lenders charge a higher rate because the low payments made at the beginning of the mortgage do not fully cover the principal or interest, meaning the lender is continuously increasing the loan amount.

The Option ARM or Flexible Payment ARM

A second type of negative amortization mortgage product is the option ARM. It is a type of variable-rate mortgage that allows borrowers the freedom to choose what kind of payments to make. The options are:

•Fully amortized payments
•Interest-only payments
•Minimum payments that will not cover the interest or pay down the principal
With an option ARM, the interest rate is adjusted monthly, and the payments are adjusted every year. The regular payments are always lower in the beginning with a flexible payment ARM, meaning borrowers can often qualify for a larger loan.

Like with the GPM, the risk with this type of mortgage product is payment shock, which can happen when borrowers making minimum payments are not prepared for the sudden and dramatic increase in their payments that occurs when the interest rates rise or the annual repayment adjustment takes place.

Foreclosure Process in Los Angeles by Shawn Shayestehfar

The process of foreclosure can be rapid or lengthy and varies from state to state. The mortgage holder can usually initiate foreclosure at a time specified in the mortgage documents, typically some period of time after a default condition occurs. Within the United States, several types of foreclosure exist. Two of them - namely, by judicial sale and by power of sale - are widely used, but other modes of foreclosure are also possible in a few states.
Foreclosure by judicial sale, more commonly known as Judicial Foreclosure, is available in every state and required in many, involves the sale of the mortgaged property under the supervision of a court, with the proceeds going first to satisfy the mortgage; then other lien holders; and, finally, the mortgagor/borrower if any proceeds are left. As with all other legal actions, all parties must be notified of the foreclosure, but notification requirements vary significantly from state to state. A judicial decision is announced after pleadings at a (usually short) hearing in a state or local court. In some fairly rare instances, foreclosures are filed in Federal courts.

Foreclosure by power of sale, which is also allowed by many states if a power of sale clause is included in the mortgage or if a Deed of trust was used instead of a mortgage. In some states so-called mortgages are actually deeds of trust. This process involves the sale of the property by the mortgage holder without court supervision. It is generally more expedient than foreclosure by judicial sale. As in judicial sale, the mortgage holder and other lien holders are respectively first and second claimants to the proceeds from the sale. With this "power-of-sale" type of foreclosure, if the debtor fails to cure the default, or use other lawful means (such as filing for bankruptcy which provides a temporary automatic stay to the foreclosure proceeding) to stop the sale, the mortgagee or its representative will conduct a public auction. The highest bidder at the auction becomes the owner of the property free and clear of any interest of the former owner but the property may be encumbered by any liens superior to the mortgage being foreclosed (e.g. a senior mortgage, unpaid property taxes etc). Further legal action, such as an eviction may be necessary to obtain possession of the premises.

When the entity (in the US, typically a county sheriff) auctions a foreclosed property the noteholder may set the starting price as the remaining balance on the mortgage loan. However, there are a number of issues that affect how pricing for properties is considered, including bankruptcy rulings. In a weak market the foreclosing party may set the starting price at a lower amount if it believes the real estate securing the loan is worth less than the remaining principal of the loan.

In the case where the remaining mortgage balance is higher than the actual home value the foreclosing party is unlikely to attract auction bids at this price level. A house that went through a foreclosure auction and failed to attract any acceptable bids may remain the property of the owner of the mortgage. That inventory is called REO (real estate owned). In these situations the owner/servicer will try to sell it through standard real estate channels.

Some options to avoid foreclosure of your property are refinancing your property, alternate financing, temporary arrangements with the lender, or even bankruptcy may present homeowners. If you are interested in buying a property or saving your property from being foreclosed you can contact someone in our office to help you with your particular needs. Please visit our website for more information at www.900flat.com

Foreign Currency Mortgages: Getting To Know Things About Currency Mortgages by Cedric Welsch

The foreign currency business goes beyond the trading game by means of foreign currency mortgages. You can also find it as a useful and more affordable means of buying property and even ending up passively earning from this process. Through foreign currency mortgages, you can conveniently seek for a loan in a foreign bank and have the said loan converted in a currency you prefer other than that of the bank's default currency.

Eventually, the interest rates and the following transactions will also be converted on the currency you specified in your foreign currency mortgage. However, most banks will only agree to do this on default values in the currency market such as US dollars. It might also need a good credit history so that you can easily apply for such process. Since it's a debt, all the loan expenses that will follow will also be converted to that currency.

To make sure that you facilitate a smooth process in foreign currency mortgages, here are some of the important things that you need to take note of:

1. Where the property will be bought - This of course affects foreign currency mortgages. Keep in mind that your currency mortgage would turn out to be an investment too aside from simply being an expense. You might want to consider getting a property in a good commercial area too especially if you want to turn the place into a business venue.

2. Limit your budget - Although you are going to get a debt through your mortgage, you should still consider having a limit so that you can control just how much mortgage you are willing and could take. It might be a good idea to look at your current budget and compare that with the property prices you are interested to purchase.

3. Consider a good bank - Of course, you should only transact with a bank that you are actually confident with. If you already have an existing relationship with a bank in terms of currency exchange then it would be a good idea to consider opening your account there too since you already have built a good credit history there and you are already familiar with their transaction process. If you decide to open your account with a foreign bank, make sure you check their legitimacy first. Consider their expertise in handling foreign currency mortgages so you can be sure that you are going to partner with a reliable financial institution.

4. Read up on the process or consider getting a consultant - If this is the first time you are entering into a foreclosure, it might be best to read up on it, ask people you know who have undergone it, or better yet consider getting the consulting services of a forex broker or a mortgage specialist. This can help make sure that you will get to cover all the important aspects related with such a mortgage process. Better make these researches before you actually subject yourself to such a transaction.

Bad Credit Mortgage by Wredan Sudtin - is freelance author who writes on a variety of topics

Is it possible to get a loan even with a bad credit mortgage? In today's mortgage and loan trends, a bad credit mortgage is absolutely possible.
In the past, applying for a loan involves a thorough check up on your credit history and income background. If your history is less than perfect or if your income is not that high or both, then your application for a loan is instantly rejected. This practice limits the number of people who can apply for a loan.

Today's market has adopted more flexible methods. Bad credit mortgages makes it possible for people with low credit scores to still apply for a loan and get approved. When applying for a bad credit mortgage loan, no pre-qualification process is involved. Lenders who offer bad credit mortgages among their list of loan programs give their customers a chance to redeem themselves. With a bad credit mortgage, your credit history is nothing more than history and you still get your money's worth.

There are several lenders who offer bad credit mortgages. When you choose one, make sure that you've learned everything that you need to know about bad credit mortgages. More often than not, bad credit mortgages sound too good to be true. With bad credit mortgages, It's best if you keep an eye on the catch.

Bad Credit Mortgages for Higher Interest Rates

Bad credit mortgages are usually characterized by high interest rates. Lenders charge borrowers higher interest rates for their bad credit mortgages as compensation for the risk they take. Like it or not, borrowers who have bad credit records are loan risks and are viewed as such by lending companies. In exchange for letting these types of customers get bad credit mortgages, higher interest rates are charged. This helps protect the lender should something happen and he had to foreclose on bad credit mortgaged property.

Discount Points in Bad Credit Mortgages

Discount points in bad credit mortgages are common. A discount point is comprised of a percentage of the total purchase price. Bad credit mortgage borrowers are charged higher discount points, usually four to five points. Borrowers with credit may not pay for these points or they do but only for a very low percentage. With bad credit mortgages however, points may go as high as ten, although going this high is not a common practice and against federal law. It all boils down to insurance for the lending company. Lending companies want to make sure that they're getting their money back from their customers' bad credit mortgages.

Larger Down Payments for Bad Credit Mortgages

The amount of down payment required for borrowers on bad credit mortgages is larger compared to other loan types. In exchange for ignoring the costumer's credit history, lenders charge larger down payments from the total purchase price. Borrowers may not be able to afford the upfront price of bad credit mortgages. If in any case, you can afford the down payment required, a bad credit mortgage might even prove a good thing for you. Since the down payment you made takes a considerable portion of your purchase price, this means that you pay lower monthly rates on your bad credit mortgage.

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How To Be A Super Successful Real Estate Developer by Eugene Oneil

In these days, real estate is one of the most compelling and competitive fields where thousands of real estate developers are competing with each for the best projects and customers. Unfortunately, not many developers know the steps to be taken to achieve success.
It is important to have in mind four key factors. Knowledge

Being a successful developer, you have to thrive on risks and push to the best each and every level. Skills and expertise in marketing, supervision, finance and risk management are required. At some point in time, a developer may need to act as creator, promoter, negotiator and investor to create and market a project tenants, buyers and the public. They are the ones who supervise the entire design and construction team, work with investors and lenders and cope with the internal and external pressures associated with high risk on a daily basis.

Strong Financial Management

Manage and control your budget well as the construction stage is generally the most expensive and risky stage of the entire property development process. This is the period that a developer will normally have the greatest negative cash flow and many things can go wrong. Approach and seek out builders for quotations and find out the bestv prices for fixtures, fittings, finishing and furnishings, loan mortgage, service costs and labour costs. From these prices, build up a pro forma budget. Remember never to scrimp and save on finishing and final touches and always provide yourself a realistic fall back fund in case of shortfalls or emergencies.

A Site With Great Development Potential

There are a number of times where we see inexperienced developers rush in and purchase a site for the reason that it looks like a great opportunity and only later find themselves struggling, and severely regretting on their decision. Before making an irreversible commitment to acquire a site, we can conduct a site evaluation, preferably using a good feasibility checklist or feasibility study. A specific study to assess the market potential of the neighborhood that includes demographics, gentrification, and infrastructure is highly recommended.

Great Architect

To derive the maximum benefit out of a site, a competent and experienced architect should be engaged to avoid mistakes that may destroy the entire project. Poor structure and bad design can result in a breeding ground for crime. Good design invariably tends to boost property prices, something that will give homeowners more of a stake in their secure and beautiful surroundings.

Low Mortgage Rate by Wredan Sudtin

Who doesn't want low mortgage rates? A low mortgage rate means spending on monthly payments during the course of a mortgage. A low mortgage rate can save homebuyers like you several thousands of dollars. A low mortgage rate means having more funds to spend on investments that might prove profitable.

Despite the reported increase of previously low mortgage rates, rates today are still low enough to consider a mortgage refinance for your home. The Internet provides you with the perfect portal to start applying for those low mortgage rates. Below is a list of websites where you can apply for low mortgage rates.

The Low Mortgage Rates of Interest.com

Interest.com offers you an opportunity to compare rates of several lending companies in your state so you can have a better chance at getting a low mortgage rate. For instance, you want to apply for a low mortgage rate on a 30-year fixed rate refinance mortgage in Georgia. The amount you wish to borrow is $100,000 with no discount points and a standard loan type. After clicking on the search button, the page will display the low mortgage rates of several lending companies in Georgia, including Sterling Home Mortgage Corporation whose low mortgage rate is 5.375%. There are several other lending companies that offer low mortgage rates and all you have to do is choose the one offering the lowest rate.

The Low Mortgage Rates of MortgageRatesUSA.com

Mortgage Rates USA is yet another company that offers choices and options for costumers who are on the look out for low mortgage rates. Their online low mortgage rate quote request is free and secure. The information you provide so the website could generate your low mortgage rate quote request is only shared with the lender and not with any third party.

The Low Mortgage Rates of ELoan.com

E-Loan is one of the top lending companies offering low mortgage rates. The reason for their low mortgage rates is that they do not charge you with any lender fees or any other hidden costs which is the main culprit to an increased mortgage rate. For example, a 5-year adjustable rate mortgage with E-Loan has a low mortgage rate of 4.625% and an APR of 5.078%.

How to take advantage of low mortgage rates

Refinancing is something that all homebuyer should consider when the market offers low mortgage rates. When you refinance, you take advantage of low mortgage rates by paying off your first mortgage with a new mortgage with low mortgage rates. This move can help you lower down your monthly payments and save on your overall interest bill.

For example, you have a year into a $150,000 loan for 30 years. The interest rate is 8.5 per cent and fixed for the duration of the loan period. You can refinance your first loan with a new 30-year loan with a low mortgage rate of 7 per cent. By doing this, you can cut down on your monthly payment by $155 to $998. The low mortgage rate of the new loan can also help you reduce your overall interest bill by $42,200 to $223,000.

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Step By Step Plan Of Acquiring Life Insurance by William Patricks

People have a couple of different reasons for the most part when they decide to purchase life insurance coverage. The most common reason by far is the purchase by the main breadwinner in the household, to serve as income replacement. This is without a doubt the best way to provide for your family in the case of your demise. Some people will get the insurance to pay off estate taxes so their heirs will be able to collect free and clear their inheritance. Others have it to make sure their business will be able to continue without them.

The reasons that you want the life insurance aside, you need to go about getting the coverage in a step by step fashion. This is one sue way to make sure you don't miss anything specific that will be important later. A beginning step is know as assessing your needs. This means just that you need to look closely at the family finances and decide how much money that your family will need to go on with the way you all live currently. Don't forget to account for possible bills that you will leave, and they will have to cover out of this.

Remember to consider the future needs of your family. You will have planned for your children to go to college probably and you want that to be covered. There is also the remainder that can be paid off on your mortgage to think about. Something that can be set aside for an emergency fund is a good idea too.

You will next need to decide what type of insurance that you need to get. There are the basic plans that are whole life and term life. They branch off into many different prices and plans from there. The financial strength rating will make a difference on who you decide to go with. This will tell you how strong they are as a company.

The final step for life insurance is to comparison shop. While you are doing that you can also find out about different ways that you can save money on the insurance premium. You will find different plans and costs at each life insurance company and you need to let your agent help you figure out which is the best deal for you.

Debunking the Myths About Mortgage Modification solution... by robin

A mortgage modification is a change to an existing mortgage loan that will make the payments more manageable for the borrower and help both lender and borrower avoid foreclosure. For both parties, this represents a big change that will hopefully prevent future trouble in paying back this loan. Throughout the process, it is important that you have a complete understanding of the guidelines that need to be filled in order to be successful in this process.

According to Moe Bedard, an expert in the area of home modification, here are the most common myths of mortgage modifications.

Myth 1: A Homeowner's Best Interests are Protected by Non-Profit Mortgage Modification Groups

There is no reason to distrust groups like Hope Now and 995-HOPE, but they often don't add any assistance to the process. They do not deal with a variety of circumstances and focus on the income of the borrower, not the terms of the contract. Legal issues, like the ones usually associated with loan contracts, can take a long time to deal with and can end up in court. These groups would rather handle quick fix cases.

Myth 2: Lenders Will Reduce the Principal when the Balance Exceeds the Worth of the Home.

This is possible, but does not happen often. Usually when principal is reduced, it is on a first and second mortgage. The second mortgage usually gets negotiated down to about 15 cents on the dollar. If it was possible to simply call your lender and have your mortgage lowered every time a homeowner found himself a little tight, the bottom would drop right out of the economy. Given the current economic situation in America, the entire mortgage market could be destroyed.

Myth 3: Lenders Seek Out Solutions to Help Homeowners

The longer the lender keeps the loan at its original terms, the more money they make. Even though a modification does help prevent foreclosures, they do reduce bank profits. If a homeowner cannot maintain the terms of the original loan, this indicates that the lender did not operate wisely. If they had, they would not be facing the large number of foreclosures they are facing today.

A mortgage modification is a multi-step process that requires both the borrower and lender to know what they are doing. If you know the facts, and understand the truth behind the myths, you can simplify the process simply by knowing what is going on.

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Mortgages: Top Tips For Switching Mortgage Deals by David P Walker

If your mortgage deal is no longer competitive, it may be time to switch. However, choosing the wrong mortgage could cost you thousands of pounds a year. Here are the most important things to consider when planning to switch mortgages.

Compare mortgages

Your bank may advise you to take on one of their mortgages. Before doing so, make sure you compare all kinds of mortgages and consider taking a mortgage with a different provider - there may well be better mortgage deals elsewhere.

Consider the pros and cons of different types of mortgage

Particularly if you are taking on a long-term mortgage, you need to consider whether interest rates are likely to rise or fall. For low or falling interest rates, you could be better off with a tracker mortgage. If you think rates will rise, it may be better to go with a fixed rate mortgage.

Calculate monthly outgoings

You will need to make monthly payments on your mortgage. Consider what these will be and whether you can really afford them on a long-term basis. Also take into account the possibility of losing your job or of a steep rise in interest rates - either of which could cause your mortgage to become unaffordable. Remember, if you do not keep up your monthly instalments, your mortgage provider will have the right to repossess your home.

Consider additional features

Think about your personal circumstances in relation to other features offered with some mortgages. For example, if you regularly receive bonus payments or windfalls of some kind, it may benefit you to have an overpayment option with your mortgage deal. This will allow you to pay in lump sums on top of your monthly payments, meaning you could potentially pay off your mortgage more quickly.

Talk to your current provider

While you don't need to remain loyal to your current lender, it can be useful to talk through options with them. Some mortgage lenders have special deals available only to current customers which you might be able to take advantage of. Once you have done this, always compare mortgage deals with different lenders before taking the plunge.

Look out for hidden fees

Given that you are remortgaging to save money, it's vital to make sure that other costs like set-up fees will not cancel out your savings. The same applies to exit fees and redemption penalties applied by your current lender. Take all costs into account before switching.

Read the small print

When you switch mortgages you will probably be presented with a mountain of paperwork. It's important to understand all of those terms and conditions before you sign up, so take time to read through and take it all in. If there is anything you don't understand, don't be afraid to ask questions until you do.

Make a note of when your chosen mortgage deal ends

Once you have switched mortgage deals, you need to be aware of when your latest mortgage deal is going to end, and remember to compare mortgages again once this has happened. The cheapest mortgage deals usually last around two to three years, so be prepared!

Bad Credit Mortgages Can be Beneficial Than Regular Mortgages by Camila Machuca

Mortgages for people with bad credit have many benefits that regular mortgages do not. The major benefit is that these are quite easy to be eligible for, in spite of a bad credit score and record. In addition, bad credit mortgages let you to accumulate wealth when you buy your home. Moreover, they have fewer obstacles, for instance not having need of private mortgage insurance.

In addition, bad credit mortgages let you to begin accumulating home equity wealth even though you have filed for insolvency or gone through a foreclosure some time ago. By paying no more than a two points above regular interest rates, you can enjoy being owner of your own home with absolutely no or negligible down payment. By paying monthly payments almost at par with the cost of a rental payment, you can benefit from tax benefit as well as enjoy home ownership. You can buy a home at current prices, without having to wait for your credit record to get better. Although no one really knows, what prices will be in the next two to three years, it is to be expected they will be substantially high. You may possibly notice that appreciation by purchasing a home right away.

Abstain from private mortgage insurance as well as any obstacles in contrast with regular loans; you do not need to pay for private mortgage insurance with a bad credit mortgage loan. As a result, regardless of a down payment of below 20%, you do not need to be bothered with reference to best rates. In addition, bad credit mortgage lenders are very flexible with their eligibility criteria. Your earnings, and credit rating can be abysmal, on the other hand, you can still find a mortgage. Besides, you can opt for more flexible loan terms of interest-only, fixed, or variable rates.

Getting a bad credit mortgage is now quite easy, with increasingly financing companies providing bad credit mortgage lending; it is now painless to get a bad credit mortgage. You can search online where you will get hundreds of proposals. Going through these proposals can yield in you getting best possible deal. In addition, you can carry out some research on bad credit mortgage. At present, there are many online websites, which offer various mortgage services like, mortgage broking and expert advice on mortgage, you can request for call back from mortgage experts who can guide you with your situation. Additionally, you can compare interest rates listed from many lenders.

Should you be confused and besieged by the options available; employ a mortgage broker. They scrutinize the offers to present you with the most excellent options. In a few instances, they as well offer exceptional deals, not to be found somewhere else. Do not be anxious on getting approved or not. Concentrate on getting the lowest rates and best terms and conditions. Get loan quotations from various lenders, which take account of closing cost, pre-payment penalties and other relevant charges to estimate and make comparisons. In addition, be prepared to bargain more favorable terms, in particular to lower additional charges like closing cost, pre-payment fees and any other hidden cost to bring down the overall cost of your mortgage.

The Benefits Of Having Health Insurance by Sami Pierce

Health insurance is something that everyone needs. If you don't understand why, then you need to know what can happen if you don't have it. You also should learn how much easier it can make your life. Looking for and finding the right type of insurance and a good company to go with is not too hard to do. By looking around online or talking to an agent you will get all the info you need.

If you are just positive that you can't afford health insurance for yourself then you need to think again. It is not as formidably priced as it once was. The premium, which is your monthly payment, is not as high as it once was. You can also get different kinds of insurance. Most people can afford insurance of some kind. If you don't have any health coverage and you end up going to the hospital for a little while, the cost adds up very quickly.

You will want to get the insurance that is best for your situation. It depends on what you want to pay and what you need care for. People that see the regular doctor a lot will want coverage with a low or no deductible. This sometimes means a larger monthly payment, but not always. If you hardly ever need to see your regular doctor but don't want to take a chance on something bad happening and ending up with a huge bill from some time in a hospital bed, Then there are plans for that.

Look into your plan carefully if you are going to have children. Some plans cover maternity and some don't. You don't want any surprises if you think you have it all under control then come to find out you missed something. You really want to make sure that your health coverage will also cover the new baby in the beginning. Often there are issues with a preemie that will end up with a bill that rivals your mortgage.

People that have families established need a plan that will make it easy for the kids to see the doctor often. HMO coverage lets you go to your primary care doctor as often as you like. They also have workshops and classes that teach people about having better eating habits and making good lifestyle choices. They want people to stay healthy because that saves them money.

Bad Credit and Refinancing by Alan Lechts

There is a lot of buzz about refinancing homes right now. Indeed it is a good time to do so, with interest rates being so low. But, what if you have bad credit? Can you still take advantage of the low interest rates in this most recent refi boom?

If you have a poor credit rating but still want to look into refinancing your mortgage but feel it's next to impossible, then read on. It might be difficult, and perhaps in the end, you will have to take several months or a year before you are ready to do it, but it is possible. And it may not take that long. There are some companies that will help you repair your credit to get it to a point that a lender will be comfortable with.

If your bad credit is due to medical issues, or you feel you have some other compelling reason for having credit issues, it's definitely worth a try to refinance with a big bank. You might be eligible for a government loan that does not look to heavily at credit score, rather will take into consideration your reasons for poor credit history as long as you're showing improved habits.

If you end up not qualifying for a government loan, don't despair. Search for a sub-prime lender. At present having sub-prime credit only indicates you will have to pay higher interest for your financing and is not a hurdle to refinancing your present mortgage ; it just means it'll cost more. Do not let your credit prevent you from making an effort to get the money you would like, many owners are embarrassed of their credit score and record. On occasion, everyone runs into a bad spot in life; poor credit issues are only 1 of those bad spots. And it's more common than you may think. If you have a lot of equity in your home, there may be banks that will work with you to help you get a portion of it out.

Because of the increased rates on sub-prime loans, it is important to search around and make sure you're getting the best deal. It's always advisable to go with a big bank rather than a small broker who can string you along for months before telling you he can't help you. You must search on the internet where you will come across many banks who are prepared to offer what you're looking for. Your first concern must be finding a right bank and to avoid typical mistakes while trying for mortgage. You have got to do a correct research and warily compare rates, terms, and other costs. To grasp more on ways to find the best bank and the way to avoid making terrible mistakes, search on the internet for sites providing valuable info on mortgage. There are a few poor credit loan finance selections for borrowers. The refinancing choice that you will be looking for if you want to dump a couple of your high interest credit card debts is a cash out home equity refinance.

This is the same as a debt consolidation arrangement and will let you drag money out from the equity you have in your house and employ for anything you want. You might wish to utilize the cash out for remodeling, a long holiday or merely to spend on goodies. But temper yourself in this. Remember the extra cost you had to pay for the loan because of your past poor credit decisions and try to make better ones with this money so you will not be in this boat again in the future. A more valuable use of the money would be to pay off all your debts and then enjoy the extra money and freedom you have each month as you don't have to worry about whether or not you'll be able to pay your bills.

Government Mortgages and You by Houston Tx Appraiser

While it's true that mortgage rates are really low right now, many people are afraid of taking on any new debts in the current economic situation. It's true that it's a little more difficult now, but if you really want to finance your new home, you can get financing. There are various options available to you as you help buyers find a mortgage.

Advise buyers to deal with their financing before you spend significant time looking at homes.
Start Early Getting your ducks in a row regarding your mortgage before making an offer on the property has always been a good idea, and today it's critical. If you have any loan or other financial blunders hiccups to iron out, they better have more time. If your clients get pre-qualified early in the game, they'll have some idea of what kind of mortgage they can get.

Can you recall Government Programs?
Although "exotic" mortgages are no longer available, a good deal of government-backed lenders are still offering more conventional loans. People who do not have flawless credit or who can't come up with a 10% down payment
are exactly those that these programs are meant to help.

Many state housing departments enable you to search for home-buyer assistance programs in the city or county where your clients are looking for homes. Naturally, you should always steer first time buyers to the State First Time Buyers Programs if this is at all possible. Just a reminder there is a FHA loans in the federal programs.

Demand evidence

Insist on written evidence indicating their monetary condition, from the customers, for consideration of loan by the financial organization. Have them gather bank statements, pay stubs, tax returns, other debt statements and any other documents that relate to their finances. It's not necessary for them to tell all their secrets, but they need to understand that they will have to produce theses documents for any lending institution.

Who Do They Know?
The internet is a great source for information, but sometimes it pays to deal with local businesses. Your buyers may be better served by the credit union where they have a car loan. Suggest that they try their own bank or local lending institution before applying online.

More info at professional home appraisals in Houston, Texas.

Effect of Unemployment in Mortgage Delinquencies by Josh Harmatz

The economic crisis that affected the United States, and other parts of the world has caused many people to lose their jobs. The unemployment rate continues to rise, and immediate solution is not in sight.

Joblessness can affect several aspects of a person's life, but in the United States, it has mostly affected the capability of American homeowners to pay for their monthly mortgage payments. Unemployment has led to the increase in the rate of mortgage delinquencies.

According to the latest report from Equifax, one of the largest credit bureaus, in August 7.58 percent of American homeowners failed to make their monthly mortgage payment on time, up from 7.32 percent in July. These homeowners were more than thirty days late in their mortgage payments.

The latest statistics are alarming when compared to the statistics of two years ago. In August 2007, 3.44 percent of homeowners fell behind on their mortgage payments while in August 2008, it was 4.89 percent.

In addition, holding company, Moody's, reported a 32 percent increase in personal bankruptcy filings in the month of August.

These statistics say a lot about the current financial condition Americans are experiencing. Unemployment is not only a struggle to have enough food on the table. It is also a struggle to keep the roof over one's head. If this trend continues, it can lead to foreclosures.

The federal government, however, is optimistic. The housing market is showing signs that it is slowly recovering from the slump of the past few years.

The American consumers are also changing their spending habits. Despite the increase in mortgage delinquencies, Americans are keeping up with other bills. The Equifax report showed that credit card delinquencies dropped in August. The trend is consistent for the last three months. Subprime card delinquencies also fell.

Americans are also saving more. The current savings rate is 5 percent, which, according to Equifax, is a rate that the United States has not experienced in years.

There might be some truth to the cliché that for every bad thing that happens, a good thing arises.

With the government effort to revive the economy, the unemployment rate may decrease, and, as a consequence, mortgage delinquencies may also decrease. We will have to see.

Obama's Loan Modification by Tiffany Nelson

When President Obama was running for office in the fall of 2008, a primary concern was the struggling United States economy, especially as it affected everyday citizens. One of his first initiatives after taking office in January of 2009 was to come up with a nation-wide plan that would help rescue floundering home owners from losing their homes due to foreclosure.

This type of program would not only help the individual home owners who would not have to suddenly leave their beloved homes and find housing elsewhere, but also the lending institutions that would be left with unpaid mortgages if the trend continued, and would assist the already overtaxed housing rental market by not suddenly flooding it with more families in need of housing. Under this program, homeowners are able to apply to their lenders for a "loan modification" on their current mortgage. This loan modification, if it is approved, would lower the interest rate on their existing mortgage, sometimes to a little as 2%, thus often significantly decreasing their monthly mortgage payments. Various financial institutions may also offer various other incentives to their borrowers that make this an even more attractive opportunity for homeowners who are facing financial difficulty.

In the course of the loan modification application process, the same factors that were considered in the initial loan application, such as debt-to-income ratio, will be considered again. Debt-to-income ratio, which is the percentage of your income that is devoted to paying off any kind of debt that you owe, is required to be less than 45%. Doing your homework on the information required to fill out the application will speed the process and make it less stressful.

There are also many sites online that will give you more information about what is involved in applying and help you through the process. Don't hesitate to seek professional help as you consider whether or not the loan modification program may be the very help you need to survive and be able to stay in your home during these troubled economic times. Many local companies and individuals, perhaps right in your own community, can also be very helpful to you in making these decisions. Even though this is a nation wide program, you may find that different lenders have a few different requirements for applying, so be sure to consult your own personal lender to be sure you will meet the criteria and have all the information you need.

Mortgage Rates Stay Down by dane

There were some expectations that mortgage rates would fall this week. Instead rates not only did not rise but fell slightly this week. The 30 year rate fell from 5.08 to 5.07 hitting a new low for the summer. The 15 year rate fell from 4.54 to 4.50. The 5 year arm fell from 4.59 to 4.51 while the 1 year arm rose slightly from 4.62 to 4.64.

The continuing fall of the 30 year rate is good news for the national real estate market which is in the midst of a lukewarm recovery. The 5 year arm is seeing more activity now that it is significantly lower than the 30 year arm. Personally I still would heavily favor the 30 year arm with the possibility of seeing double digit interest rates in 5 years because of heavy government spending. The 1 year arm since moving above the 5 year arm has moved into no mans land with there being virtually no reason to get a 1 year arm at this point in time. Below are rates for the last few weeks.

Sep 10, 2009 30-yr 5.07 15-yr 4.50 5-yr ARM 4.51 1-yr ARM 4.64

Sep 03, 2009 30-yr 5.08 15-yr 4.54 5-yr ARM 4.59 1-yr ARM 4.62

Aug 27, 2009 30-yr 5.14 15-yr 4.58 5-yr ARM 4.67 1-yr ARM 4.69

Aug 20, 2009 30-yr 5.12 15-yr 4.56 5-yr ARM 4.57 1-yr ARM 4.69

Aug 13, 2009 30-yr 5.29 15-yr 4.68 5-yr ARM 4.75 1-yr ARM 4.72

Feb 05, 2009 30-yr 5.25 15-yr 4.92 5-yr ARM 5.26 1-yr ARM 4.92

In addition to rates we like to look at actual mortgage payments to gain some more perspective on mortgage rate changes. Based on current mortgage rates we determined the mortgage payment for a 200k loan. We did the same thing with rates from 2 weeks ago and rates from 6 months ago.

Sep 10 30-yr $1082.21 15-yr $1529.98 5-yr ARM $1014.55 1-yr ARM $1030.07

Aug 27 30-yr $1090.82 15-yr $1538.17 5-yr ARM $1033.67 1-yr ARM $1036.07

Jan 29 30-yr $1085.89 15-yr $1560.82 5-yr ARM $1106.88 1-yr ARM $1061.45

Compared to 6 months ago the mortgage payment on a 200k loan is pretty much identical. The payment is $3.68 less a month or a third of one percent.

The real question of course is where mortgage rates are going. There are a few schools of thought. The first is that mortgage rates are going to skyrocket along with inflation caused by the massive government spending over the last few years. There is another school of that that mortgage rates should rise but only slightly and that massive inflation will be curbed by the Federal Reserve.

Either way no one is advocating that mortgage rates are going to fall much further. Therefore my advice would be to look at 30 year rates and to avoid 5 and 1 year arms like the plague. If the first school of thought is correct and mortgage rates rise they will probably not move dramatically until the economy recovers.

Real Estate Q&A by realestatebase

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Debt Consolidation Information To Get You Started On The Road To Good Credit Again by Daniel Major

What should you do when you find yourself drowning in debt?

Well the first thing is, try not to worry yourself into an ulcer. It took a while to get into this situation and it will take a while to get out of it again.

Probably the best place to find information is the Internet. You can do a search for the term 'debt consolidation information' and you will find many websites containing excellent information.

Your next step should be to gather all of your bills together and make a list, with those debts carrying the heaviest load of interest at the top of the list. These can include credit cards of various types.

One of the problems people run into when they are in debt is not knowing exactly how much they owe, so compiling this information is a vital step toward a healthy credit rating.

There are several ways you can go about repayment of your debt. The first method is simply paying back as much as you can on a regular basis -and this can be a successful way of doing things but not for everyone.

You are probably better off if you work with a credit counseling firm that is experienced in working with credit card companies and other debtors. They have debt consolidation information that you may not be aware of.

For example, many of us do not know that a credit card company will often agree to write off a percentage of the principal that you owe. They understand that it is to their own best interest to accept a portion of the principal rather than a whole lot of nothing.

When you're looking for debt consolidation information, look into companies that offer all possible options for repayment, whether it is simple consolidation, such as a credit counseling firm does.

Another option is the home equity loan. You can apply to your mortgage lender for that portion of your equity which will then be used to pay your debts in full.

This may not be an option for everyone and you should think carefully and explore all your other options before choosing this one. This is not a 'money for nothing' type loan; your house payment will probably go up, and there are fees associated with loan processing and closing costs.

It is certainly worthwhile to look into a home equity loan, as this may be a viable option for you.

Debt consolidation information will vary from website to website. Take your time and weigh all of your options very carefully. You have taken the first step on the road back to good credit.

Doing What it Takes to Get a Mortgage Loan by Crystal Guthrie

When it comes to getting a mortgage loan, it is important to understand that lenders consider more than just your income when determining whether or not they will give you the loan you are requesting. While there have always been other factors used when making this determination, the factors that are taken into consideration have grown even more stringent due to the current state of economy. Therefore, it is best for you to have a greater understanding of what lenders are looking for before you apply for a mortgage loan. This way, you will have the best chance of getting the mortgage loan you are after when it comes time to apply.

A Change in the Way of Thinking

Until very recently, lenders were not overly concerned about who they loaned their money to. After all, they reasoned, they would always be able to get their money back if the borrower defaults on the loan because the value of the loan is backed by the value of the property. As many lenders have now learned, however, there is no guarantee that the value of property will only go up. Therefore, when borrowers where unable to repay their loans and the value of the property had actually decreased, the lenders experienced a significant loss of money. Unwilling to get stung again, lenders are taking a far more stringent approach toward determining who they will loan their money to.

Things Taken into Consideration by Mortgage Lenders

In theory, mortgage lenders should be able to obtain all of the information they need from you by simply looking at your credit history. By looking up your credit report, the lender can determine:

* Whether or not you have a good credit score * Your job history * The amount of revolving debt you have

Still, there are other things that your lender will want to know in order to determine how much of a risk it will be to lend money to you. For example, you will need to demonstrate that you have enough money to make a down payment on the home you are purchasing. Or, if you are getting a home equity loan, you will need to demonstrate that you have built up enough equity in your home to cover the loan you are trying to get.

Your employer may also require you to provide documentation of a solid work history and income. Although some of this information may be contained in your credit report, the lender may also want to see W-2s, check stubs or other forms of documentation.

Of course, the appraisal will also play a large role in determining whether or not you receive the loan you are after. If the purchase price is less than the appraised value, you will have a far better chance of getting the loan you are after.

Making Yourself a Good Candidate for a Mortgage Loan

In addition to agreeing to a reasonable purchase price, there are a few things you can do to help improve your chance of getting approved for a mortgage loan. These include:

* Obtain a copy of your credit report and correct any mistakes that may be on it * Pay off or reduce any large outstanding balances that you may be carrying * Don't apply for any new credit cards or close old credit card accounts until after you obtain your loan

It is also in your best interest to do some comparison shopping. Just because one mortgage lender is less than thrilled by what you are bringing to the table, it doesn't mean the same will hold true for all lenders. So, if one doesn't seem interested in lending to you, find one that will!

Securing a Mortgage by Dannie Jensen

Real estate loan is what a lot of people use to buy their home. Real estate loans have been instrumental in bringing joy to people by making that unaffordable house affordable. Some real estate investors too make use of real estate loans for buying properties. However, real estate loan is not free money and anyone who buys real estate or plans to buy real estate using real estate loan must understand the concept of real estate loan very clearly.

Real estate loan (also known as mortgage) is the money that you borrow from someone (a financial institution i.e. a mortgage lender) for the purpose of buying a property. The real estate loan generally covers a part of your purchase price and the remaining portion has to be paid by you upfront i.e. as down payment. The amount (i.e. the percentage of total purchase price) that you have to pay as down payment is dependent on a number of factors and you can generally reduce it to even 5% by going for mortgage insurance. FHA and VA loans (i.e. mortgage insurances through FHA and VA) reduce the down payment requirement on real estate loan even further. Whatever you borrow from the mortgage lender as real estate loan needs to be paid back to the mortgage lender over a period of time (and, of course, you will also need to pay appropriate interest on that real estate loan). The tenure of your real estate loan and the prevailing market rate will determine the amount of interest you pay for your real estate loan. Generally, you are required to pay back the real estate loan in the form of monthly instalments which are composed of both interest and principal portions of your real estate loan.

Also, there are various types of real estate loans e.g. fixed interest rate loans and adjustable interest rate loans. So depending on what type of real estate loan you have gone for, your monthly payments might either remain constant (fixed rate) for the full tenure of the loan or keep getting adjusted periodically (adjustable rate) on the basis of a financial index. Besides that, some other costs are also associated with real estate loans e.g. there are closing costs, inspection costs, attorney fee etc. Also, in case the property needs some repairs, there will be costs associated with that too. Again, there is stamp duty and other taxes that you need to pay. So, really, you need to understand the concept of real estate loans and the related costs clearly before you actually go for the real estate loan. And understanding these concepts is really not that tough.

Foreclosure Stop Information - Stopping Foreclosure is Possible by Terry Robinson

If you're like most people, your home is your biggest investment. So when you are facing a foreclosure and the prospect of the loss of your home, you risk losing your biggest investment. Don't wait until the day before the sale if you want to stop foreclosure. If you have questions about foreclosure or bankruptcy get legal help so you know your options available to stop foreclosure as soon as possible.

If you've lost your employment, recently gone through a divorce, encountered a medical illness or other setback it's not unheard of to fall behind on your bills. But when you fall behind on your mortgage payments, property taxes, or homeowner's association dues, then the mortgage company, taxing authority, or homeowner's association can take aggressive steps to collect the debt. The most powerful tool to collect such debts is a foreclosure proceeding.

A foreclosure proceeding is a legal process by which a secured lender, be it a bank, financial institution, mortgage company, secured lender, taxing authority, or homeowner's association can terminate your legal rights or other interest in your home or other real property. The secured party then sells the property at a public auction and the proceeds go toward the debt. Depending on what state you live in a foreclosure sale usually takes place at the same time or date every month.

In a foreclosure proceeding, the homeowner has no control over the auction or sale proceeding. More often than not, the homeowner stands to lose their equity and more if the property goes to foreclosure and sells at the auction. Even when there is no equity in the property, a foreclosure sale is rarely in the best interests of the homeowner because if the property sells for less than what you owe (and it usually does), then there is a mortgage deficit, which you could still be on the hook for.

If you don't have the money to bring the loan current but you want to keep the property, you may still have options. The first option should be to contact the mortgage company to explore any programs they might be offering, such as a workout or forbearance agreement. Assuming you have already missed several mortgage payments (which is why you are in foreclosure) and you can't afford any of the options the mortgage company is offering, if any, then filing for bankruptcy may be the best option to stop the foreclosure.

Every month, tens of thousands, stop the foreclosure sale and save their homes by filing bankruptcy. Filing a Chapter 13 Bankruptcy allows a homeowner to catch up their missed mortgage payments over 3 to 5 years depending on their situation. If you file for Chapter 13 Bankruptcy to stop foreclosure, your property doesn't necessarily need to have any equity in it. However if it does have equity, you won't loose it. Many people are reluctant to file a bankruptcy because of the stigma that the media and culture have associated with it. Filing for Bankruptcy is not a criminal act and should be considered a business decision and not a moral or fashionable one. Many famous people have filed bankruptcy to save their property, reorganize, and get a fresh financial start. So if you are facing foreclosure and the prospect of losing your home, you can stop the foreclosure by filing for bankruptcy. Chapter 13 Bankruptcy was designed to help people facing loss of property and may be an option for you if you are in foreclosure. If you have disposable income and the bankruptcy means test determines you are eligible to file, and, you haven't recently filed a previous case, Chapter 13 Bankruptcy will definitely stop the foreclosure, allowing you to take 3 to 5 years to repay your past due payments. There's a catch, however. The debtor must keep current on all future mortgage payments. Failure to meet just one future payment is enough to throw the debtor out of Chapter 13 protection. That being said, Chapter 13 Bankruptcy isn't the only way to deal with foreclosure, but it is certainly an option that is based on your disposable income, and not what the lender or party foreclosing demands you to afford.

When your home is up for foreclosure, you probably want to know your legal options on how to stop foreclosure and keep your home. A Bankruptcy Lawyer can help you to determine if Chapter 13 bankruptcy is an option for you to stop the foreclosure. If Chapter13 Bankruptcy is not for you, they may be able to provide assistance in negotiating with your mortgage company, taxing authority, or homeowner's association so that you can save your home. They may also be able to assist if your home is being wrongfully foreclosed. If the mortgage company didn't follow the foreclosure process correctly, you may be able to file a wrongful foreclosure action or temporary restraining order. Once a foreclosure proceeding begins, the mortgage company is required to provide you proper notice of the sale as well as give you an opportunity to dispute the debt. In some cases the procedures for foreclosure are not followed correctly and can provide a basis for stopping the foreclosure sale.

If you choose to allow your home to sell at the foreclosure sale, and the foreclosure sale brings more for your home than the mortgage balance, taxes, liens, and any other foreclosure costs (which almost never happens), you will be entitled to those proceeds. More often than not, the property sells for much less at the foreclosure sale and the sale doesn't bring enough to pay any outstanding mortgage balance, taxes, costs, and liens that may be on the property. If that happens, there will be a mortgage deficiency, and you will be responsible for paying that deficiency, even though you won't own the house anymore. You may be able to file for Chapter 7 Bankruptcy to eliminate the mortgage deficiency.

Many people facing foreclosure wait until the last minute to get help. Like most things in life that go until the last minute you eliminate some of the options you could have taken. In other words, the sooner you get help with your foreclosure, the more options you will have. Contact an attorney in your state that regularly handles foreclosure and bankruptcy to determine all the options to save your home. While there are a lot of great self help books and free information available online, nothing really compares to a live person with years of experience. Most lawyers offer a free initial consultation so it only makes sense to get informed by a professional. Don't let your home be sold.

How to Earn Referral Business as a Loan Officer by Josh Harmatz

Being a loan officer is not an easy job. As any veteran loan officer will tell you, there are many obstacles you need to encounter before you will close that first loan: rejection, lack of prospects, discouragement, etc.

Before you go searching for referral business, you need to be armed with the right attitude. Here are a few pointers:

1. Understand the needs of your clients. Knowing your clients' needs will give you an idea on the best product that fits their needs.

2. Choose a specialty. In the mortgage business, it is important to choose a specialty to distinguish yourself from the competition. This also allows you to become an expert in one area of product knowledge.

3. Set a goal. For instance, you can ask yourself, "How many loans do I need?" If you need ten loans a month, then you need ten people who will send you at least one loan a month. Your goals must be realistic.

4. Manage your prospects. You should know who is available for business and who isn't. Follow up with people who will talk to you. Never sell to people who are not interested.

5. Manage your time properly. Your weeks should be planned in advance. This is possible with the help of an organizer or other software. Your days should be spent with a goal in mind. You should set appointments.

With the above in mind, the next thing to do is to learn how to earn referral business. Earning a referral business is not so difficult at all. It is based on this simple premise: if you provide others with referrals, you earn referrals in return. To yield better results, you must send more than enough quality referrals to others. Your goal must be to become a "referral clearinghouse," which means you must become a "go-to person" for a referral to anything in the professional world. Becoming a referral clearinghouse is not only limited to the mortgage business. Your scope should extend to other industries, such as law, interior design, carpentry, etc.

Once you have your list of preferred referral partners, inform your database through a simple letter that you are now their new referral clearinghouse. Explain in the letter, as short and as sweet as possible, that you believe in the process of referrals and that you would like to offer your services as a referral provider. Include in the letter the industries that you have provided referrals for, but without mentioning any name or contact information.

This strategy is very helpful in many ways:
1. The letter gives your clients a reason to contact you. When this happens, you are given the opportunity to introduce yourself and your business. If any of your clients' friends or relatives need mortgage advice, then you will be the first person that will come to your clients' mind.

2. Since you're not directly selling your product to your clients, they will value you more as a person and will refer you to anyone they know who needs mortgage advice.

3. There is a possibility that you will earn more referrals from new potential referral partners. If you provide quality referrals to your fellow business professionals, then they will do the same to you.

When you become a referral clearinghouse, people will know you through word of mouth. Either of these two things will happen: they will contact you or they will give you a valid reason to contact them. Either way, one thing's for sure: it means there is more business for you.

Josh Harmatz, CEO
www.VoyageHomeLoans.com
www.JoshHarmatz.com
www.JoshHarmatz.wordpress.com

About the Author

Josh Harmatz is a veteran of the lending business and is the CEO for Voyage Home Loans, a Sacramento, California mortgage business that specializes in FHA loans.

He operates his mortgage business with the highest integrity and a strong work ethic, while building reliable relationships with all of his clients. He is committed to his vision of improving business operations through technology, education, and trust.

Learn Real Estate Investing by Shawn B

If you would like to learn real estate investing, one strategy that can be profitable is investing in foreclosures.

All the details for foreclosures that you may need to know can be a very complicated process. In case you don't quite understand what a foreclosure is, here are some thoughts to bring you up to speed.

Let's say you have purchased a property after receiving a loan from the bank or mortgage specialist, etc. Out of the blue, you are not be able to pay back the basic loan and the interest as well. The bank will give you time to catch up, but if this can not go through and the agreed-upon date is past, they will take your home and sell it.

Many banks will not take an interest in the selling your property. They will at times not over-exert themselves to make a profit as they just want to break-even and get their money back as soon as possible. For this reason, many knowledgeable investors will wait to buy these kinds of houses at the lowest price. Foreclosure is what they call this entire process.

An investor can still receive a large profit with foreclosure property. Here are some good tips that you should know:

1. Investors need to plan and execute. Visiting the courthouse once to two times within a week to know who has defaulted on the property loans is the first step. You must then try to find the defaulter's contact information and reach them to let them know why you are interested in buying this property. They may not agree with the offer given. Stay calm and explain the whole situation/plan. Let them know if they are not willing to sell their property to you, they very likely will lose money.

2. If you offer a larger discount on your fees, they may take more interest in selling the property. Your deal should be worth while. After purchasing the property, you can resell the home for a higher price than you have invested on it. This could be largely profitable for you.

3. Investors look for ways to earn a higher price from each property. As an investor, if you feel as though you have not succeeded, do not worry. There are multiple foreclosure property dealing procedures available. Try, try again.

Apart from all this, investors who have had experience in the foreclosure property business have found it much more profitable than regular property businesses. Foreclosures are easier and only money matters in the business. The more you are willing to invest on your discount packages, the more you will earn in the end. Foreclosure investors say to be active and with the ability to explain the subject matter this will help. Remember, foreclosure property can earn you money quickly if you concentrate and work hard within the foreclosure investment business. Keep in mind, keep on expanding your knowledge base of real estate information by reading information online, whether free or purchased. There are goldmines of information available; keep on learning.

REO Listing Trends: Record Foreclosures, Record Delinquincies by Frank Patrick

Copyright (c) 2009 Frank Patrick

Foreclosure Filings Rise 32% Year-to-Year

REO properties will continue to make up a large part of the housing market for some time to come, judging by the latest foreclosure and mortgage data.

In July, foreclosures were up 7% from June - and 32% from July of 2008. 360,000 homes were in some stage of the repossession process and on their way to becoming REO listings. That's one out of every 355 homes in America - and it marked the third month out of the last five that a new record was set.

While the usual states led the foreclosure numbers - California, Nevada, Florida and Arizona - there were also big jumps in states that hadn't been experiencing big default rates - states like Oregon, Minnesota and Kansas. Experts say that's because of the increasing effect of the jobless numbers.

This brings us to mortgage delinquencies, which hit an all-time high in the second quarter of this year. The number of mortgage holders who were behind 60 days or more on their payments was up 65% from the second quarter of 2008. Almost 6% of homeowners nationwide are having trouble - with Nevada having an astounding 13% delinquency rate.

The good news? As we reported last month, REO home sales are finally taking off - which means prices have hit the point where investors are actually anxious to get in on the available deals. That trend really caught fire in July - with California leading the way with REO sales, just as they led the way nationwide with the initial housing crash.

To cite one dramatic example, Stockton, the city with the highest foreclosure rate in the country, saw its home sales double in the second quarter - and about 40% of those sales were REO properties. In some cases, there were actually bidding wars on REO homes, according to DataQuick Information Systems.

This is great news for REO agents and brokers - house prices have finally fallen to a point where REO inventory is beginning to move in a big way. Ryan Ratcliff, an economist at UCLA, believes that discounts of as much as 50 percent will continue well into 2010.

The other good news is that there's still plenty of REO inventory to come. Many foreclosure homes that haven't been selling have actually been taken off the market and put up for rent. The result? A lot of vacant rental homes! Those will undoubtedly be put back on the block - and with buyers finally reentering the real estate market in search of deals, they will finally have a shot at selling.

The Truth Behind How To Make Money Being Online by Ben Cross

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Are Mortgage Rates Primed To Rise by dane

Mortgage rates rose again this week. This is the third time in the last 4 weeks that mortgage rates have risen. Why are mortgage rates rising? There are numerous factors at play but generally once the economy recovers it's expected that inflation, and mortgage rates, should rise. The last month of generally positive economic news has probably helped nudge mortgage rates up. Although rates are increasing they are increasing in small steps and not large strides. Since July 16th the 30 year rate has only moved from 5.14 to 5.29. While this is interesting it's certainly not a huge move upward.

What is interesting is that the current (small) upward movement in mortgage rates might be the beginning of the rise that many in the financial industry have predicted. If the economy continues to rebound this could be the beginning of mortgage rates steadily moving up to 10% or higher. This is of course dependent on the continued movement of the US economy out of the current recession. While the government has made some statements about curbing inflation it seems more concerned with making sure the US exists the recession.

Of the 4 major indexes 3 moved up this week. The 30 year note rose from 5.22 to 5.29, the 15 year mortgage rose from 4.63 to 4.68 and the 5 year arm rose from 4.73 to 4.75. The 1 year arm fell from 4.78 to 4.72. What is also interesting is that when rates were at their lows a few months ago the 5 and 1 year arm was higher than the 30 year fixed rate, which is highly abnormal. Since the 30 year rate has gone up (and the arms have stayed down) the 30 year rate is now above both arms. And now the spread between the 30 year rate and the arms is back to normal. Below are the rates for the different mortgage products for the last few weeks and for January 15 (6 months ago).

Aug 13, 2009 30-yr 5.29 15-yr 4.68 5-yr ARM 4.75 1-yr ARM 4.72

Aug 06, 2009 30-yr 5.22 15-yr 4.63 5-yr ARM 4.73 1-yr ARM 4.78

Jul 30, 2009 30-yr 5.25 15-yr 4.69 5-yr ARM 4.75 1-yr ARM 4.80

Jul 23, 2009 30-yr 5.20 15-yr 4.68 5-yr ARM 4.74 1-yr ARM 4.77

Jul 16, 2009 30-yr 5.14 15-yr 4.63 5-yr ARM 4.83 1-yr ARM 4.76

- - -

Jan 15, 2009 30-yr 4.96 15-yr 4.65 5-yr ARM 5.25 1-yr ARM 4.89

In addition to rates it's always interesting to look at actual mortgage payments. We took today's rates and using a mortgage calculator translated them into a payment for a 200k mortgage. We also did the same thing with rates from July 30, 2009 (2 weeks ago) and January 15, 2009 (6 months ago).

Aug 13 30-yr $1109.36 15-yr $1548.44 5-yr ARM $1043.29 1-yr ARM $1039.68

Jul 30 30-yr $1104.4 15-yr $1549.47 5-yr ARM $1043.29 1-yr ARM $1049.33

Jan 15 30-yr $1068.75 15-yr $1545.36 5-yr ARM $1104.4 1-yr ARM $1060.23

As we can see that while rates have risen the effect on a mortgage payment (looking at the 30 year fixed rate) is relatively small.

So what is our advice to potential buyers looking for a mortgage? I would start the process of looking for a lender/mortgage early on. Financing is stricter than it has been in the past and its good to start the process early so any potential problems can be resolved (i.e. credit report problems or extra documentation that is needed). Additionally, with a possible spike in inflation looming there is more of a risk of rates rising than falling so it makes sense to lock in early.

Choosing A Green Home by Benjamin

Deciding on your home is one of the biggest decisions of your life. Choosing a prefab bamboo home over a conventional home makes a significant difference in the global paradigm shift to sustainability. It requires out of the box thinking, a passion to live in your values, a boldness to support the newly developing green industry and a desire to restore balance on Earth. Not to mention it is also beautiful, healthy, strong, safe, cost effective and environmentally friendly.

Why not choose a bamboo home? In Japan, bamboo structures have a history of lasting 200 years. With maintenance being comparable to a conventional structure it's hard to deny that a Bamboo Living Green Home is the better solution. All bamboo poles, trim, and materials in our eco houses are backed by our company warranty. We have the capability to design, build and deliver your bamboo home in as quickly as three months. Typically, however, your eco house will arrive about six months after you place your order. Mortgage companies are available to finance our green homes and all of our Bamboo Living house owners have homeowners and fire insurance coverage.

Still can't find a reason to say no? It's okay, we strive to provide a green home to fit every individual budget and lifestyle. Welcome to the future of modern green home design. It certainly looks bright for all of us, especially Mother Earth.

Mortgage Modification - Reduce Your Monthly Payments by Stephen Michaels

Nowadays, with the unstable housing market, many people are not able to afford the monthly mortgage and this is one reason to look into a mortgage modification. There is a wise chance for you to grab the advantages associated with mortgage modification but you may not be aware what it required in doing so. Homeowners when having complications in paying their mortgage can apply for a mortgage modification. Mortgage modifications is not a loan at all, it is truly an alteration of your existing mortgage. In this process you don't need to take a fresh loan, just you need to fulfill the terms of that you already have. The vital point of such provision is to reduce your monthly costs. You need to find out as much as you can about this subject before applying. Then you can your current lender for a reduced mortgage modification. Most of the mortgage lenders have different requirements but all of them are based upon:

* The property must be your primary residence * Good Reason to be having difficulty in paying the mortgage * Mortgage must have been acquired in January 2009

If you can fulfill the above criteria then you have a very good chance in getting a loan modification. Mortgage modifications can be applied once you get qualified and then you will move for the next step. You need to fill out an application and send all the necessary documentation giving your financial statistics. The application must contain information like:

* Income verification * Tax returns * And Statements

Write a hardship letter that states why you were not capable to pay your mortgage. Give a detail reason and be specific. Mortgage modification is the best and more convenient when you are not capable of offering monthly payments. Every lender has personal mortgage modification principles but the main thing is that you must have legal reasons. According to your lender and you the loan can be customized. Mortgage modification plans engage a fall in interest, as there is a rise of defaults. There are chances that when lenders change their plan, into a different mortgage plan. According to government's latest plan on housing, it has deducted the interest amount on loans. Mortgage modification is mostly offered to house owner when they are in bankruptcy.

There is always a way of negotiation when you are trying to have mortgage modification. But it is not so simple to get one. There are lots of issues which can stop you from getting one. Therefore, sometimes it's best to get professional help in applying for one as they can negotiate on your behalf and you stand a much better chance it getting one. It has been found that people those who are having lawyers will get real benefits from their lender. This is one of the safest, fastest and the easiest way by which you can save lots of your valuable time. Mortgage modifications have become the main focus and the right way to get rid of foreclosure crisis and bad defaults. Therefore, government and banking companies need to put correct rules and regulations to approve financial loss. Mortgage modification is one of the most appropriate ways that is helping homeowners in all parts of the world. So, if you really want to stand tall, get a mortgage modification.