Forgiving Student Loans is it In the Future

Originally posted 2011-09-15 14:54:48. Republished by Blog Post Promoter

I am always searching for information that I feel is benefical to everyone.  The information I found has to do with the student loans.  There is a petition that has become viral across the web about forgiving student loans.   Check it out

Want a Real Economic Stimulus and Jobs Plan? Forgive Student Loan Debt!

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Who is at Fault When a Blog Covers More than Real Estate

Originally posted 2009-12-15 17:07:42. Republished by Blog Post Promoter

Recently, I received a comment or clique from a fellow Realtor who stated that this blog has several topics.  Well, my colleague may not realize that real estate is affected by several things.  One of which is economics.  This blog was developed with that in mind.

I mean, let’s face it if an individual does not have a job he or she does not have income to purchase a home.  If an individual does not understand how to maintain good credit or rebound from bad credit, he or she can not purchase a home.  If an individual does not understand how to get reduction on personal taxes or property taxes, then an individual can not keep a home.

I would love to know how you, the reader, feels should this blog stick to real estate only or give you current events and topics and relate them to how it influences your ability to purchase or keep your home.  Is it right or wrong to cover more than real estate?

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What Does Mortgage APR Indicate?

Originally posted 2009-12-02 05:00:48. Republished by Blog Post Promoter

This post is written by Steven Parker.  Steven Parker is a financial writer and contributor for the last five years.  He specializes in mortgage and real estate industry and has written many articles on mortgage, reverse mortgage, loan modification, foreclosure and many more.

Mortgage APR or Annual Percentage Rate helps you to assess the total cost of the loan in percentage. For instance, if your mortgage attracts a rate of 10%, it means that you will be required to shell out USD$10 for every USD$100 you borrow yearly. Borrowers usually try to get a mortgage loan that has the lowest APR.

Mortgage APR however doesn’t affect your monthly mortgage payments. This is because your monthly mortgage payments take into account the interest rate and not the mortgage APR.

What does mortgage APR include?

The APR includes the following in its calculations-

• Pre-paid interests
• Points
• Underwriting fees
• Loan processing fees etc.
• Fees for preparing documents
• Private mortgage insurance

In addition to the above, under certain circumstances, the following fees may be included too. They are –

• Credit life insurance
• Loan application fee

Fees excluded from APR calculation

The mortgage APR doesn’t take into account the following types of fees in its calculation-

• Appraisal fees
• Notary fees
• Attorney fees
• Transfer taxes
• Fees from Escrow and Title
• Credit Reporting fees
• Recording fees
• Home Inspection fees etc

In other words, the mortgage APR helps you to find out the amount you have to pay as closing cost. It is mandatory as per Federal Truth in Lending Laws that the lender has to disclose the mortgage APR to the borrower.

It is important that you compare the rates from lender to another. You can also compare the Annual Percentage Rate online. It helps you to shop around for the correct deal. It is also important to remember that getting a low mortgage APR doesn’t necessarily mean that you are getting a good deal. Read the fine print before signing the agreement when you opt for a mortgage.

How to Raise Your Odds of Getting Approved for a Mortgage

Originally posted 2009-12-15 19:16:46. Republished by Blog Post Promoter

Your credit score is the catalyst to you receiving or not receiving a mortgage.  Advantage Mortgage has taken some of the guess work out of obtaining a mortgage.  The company has included an easy to understand tutorial on mortgages and common terms to help the buyer understand common terms that will be used during the acquisition of a mortgage.

Not only does Advantage Mortgage prides itself on providing information on the terms related to mortgages, it wants to be the company that you think of no matter what your credit score.

Advantage Mortgage has cutting edge mortgage programs for:

• self employed
• first-time home buyer
• investors
• move up buyers

No matter what your mortgage needs let Advantage Mortgage guide you through the process.

All to often a buyer finds him or her self alone when considering purchasing a home.   Advantage Mortgage holds your hand with its knowledgeable professionals.  These professionals will answer all questions pertaining to mortgages.  They will provide you with a good faith estimate of all charges as well as, explain the difference between a fixed and adjustable rate mortgage.

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Mortgage APR Made Simple

Originally posted 2010-01-18 05:00:04. Republished by Blog Post Promoter

This post is written by Steven Parker.  Steven Parker is a financial writer and contributor for the last five years.  He specializes in mortgage and real estate industry and has written many articles on mortgage, reverse mortgage, loan modification, foreclosure and many more.

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A Bankruptcy Does Not Have to End Your Credit Life

A bankruptcy does not have to end your credit life.  Did you know that you can apply for a mortgage after only four years if you file a Chapter 7, 11, or 12 bankruptcy and two years after a Chapter 13 bankruptcy?  However, to be eligible you must do certain very simple but important things.

First, you must re-establish your credit right away.

Secondly, send a copy of the discharge letter and list of creditors included in the bankruptcy to all three credit bureaus, and request that the bureaus update your credit report to show all creditors involved in the bankruptcy balance as zero and request the bureau to list all creditors involved in the bankruptcy.  By completing the latter it will demonstrate that the creditor is no longer owed.  Once this update is complete you should receive an updated copy of your credit report.

Once again, the three credit bureaus are:

• Experian
• Equifax
• Transunion

Do not give up on every purchasing a home just because life happened and you had to file a bankruptcy.  Just remember, that paying your rent on time for at least 24 months gives you alternative credit that may help you to be able to qualify to buy a home.

Still yet, paying your utilities, car insurance, cell phone bill, etc. on time are also alternative credit or industry termed alternate trade-lines of credit.

If you are interested in more tips similar to the tips above, then purchase and read, Dale Robyn Siegel’s new book, The New Rules for Mortgages.

She has 28 pages dedicated to help you improve or maintain your credit so you can purchase or refinance a home.  Purchase it today at a bookstore near you.

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Latest News on Short Sale

Latest news about short sales from around the blogosphere:

Real Hope for Short Sales or Just More Bank Spin?

The evidence seems to be a tripling of the number of short sales over the course of 2009, though, at 40000 transactions, it is still a pretty small number. …

Bank of America Goes to Equator for Short Sale Processing

I recently got word that Bank of America is switching the processing of it’s short sales to a company called Equator Financial Solutions; they were formally …

Taking a Look at the New Short Sale Guidelines

The buzz about town- in every town- is short sales. Next to foreclosures, it’s the hot topic on everyone’s lips in this market. A new government program has just been unveiled to ease the short sale process…..

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