Today’s Mortgage Rates

Originally posted 2011-08-23 11:14:11. Republished by Blog Post Promoter

Loan Type	Rate	APR
30 Year Fixed	4.12%	4.33%
15 Year Fixed	3.38%	3.64%
5 Year ARM	2.88%	3.14%

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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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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.

<a href=”http://www.lifeinsurancecheapquote.com” id=”R8AADEC”>life insurance, homeowner, pet, travel, supplemental, reinsurance, agent and broker and useful information on life insurance products. </a>

Second Mortgage, What is It?

Second Mortgage What Is It Exactly

Everyone has heard a friend or relative complain about
having to take out a second mortgage but don’t really know
what that means. Let’s find out!

The real term for this is called a home equity loan. This
is a common loan type that homeowners can use for whatever
they want.

A home equity loan requires that you use your house for
collateral just like a normal home loan. There are
different types of home equity loan out there and you can
always use the money for whatever you want.

College, bills, and home repairs are some common uses. You
will need outstanding credit to be approved for this kind
of loan though.

A closed end type home equity loan gives you a big chunk of
money immediately and you can’t get another loan until this
one is fully paid.

The amount you can get depends on factors such as how much
your home is worth, your income, credit score, and similar
things. A closed end loan usually comes as a fixed rate
type and allows you up to 15 years to pay it off.

An open ended home equity loan is a little different. This
loan will let you borrow money whenever you have a need for
it.

The loan lender will set up a line of credit that is pretty
much based on all the same factors as the closed end loan.
These usually have an adjustable rate and you can make
payment for 10, 15, or even 30 years.

So why are these called second mortgages Because you are
adding yet another loan payment that uses your house as
collateral and adding another monthly payment. Though
tempting, it can cause you a lot of problems in the future.

 

Related articles

• A Guide To Mortgage Equity Loan Options (massrealestatenews.com)
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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.

Related articles about credit and APR

• Simple Real Estate Definitions :APR (movephilly.blogspot.com)
• Your Credit and the Home Equity Line of Credit (taylorbrownrealestatetalks.com)
• Mortgage – Latest News (taylorbrownrealestatetalks.com)
• Record year for foreclosures as unemployment rises (seattletimes.nwsource.com)
• Find the Right Credit Card Based on Your Needs and Habits [Credit Card] (lifehacker.com)

How to Fight for Your Home

There is a lot of media attention on the lenders about the foreclosure crisis.  There is also a lot of media telling you fight for your home, but what I do not see is anyone telling you exactly how to fight for your home.  WELL, TODAY THAT IS GOING TO CHANGE.

The first thing that you must be equipped with to fight for your home is knowledge.  This post is guarantee to give you the knowledge needed to fight the lender.

Did you know that despite the fact that you are negoitating a short sale or a loan modification that you could still lose your home?  The reason is that the foreclosure that you are trying to avoid is a lawsuit filed by the lender.

The lender or plaintiff files a lawsuit in  court for the sale of the home to repay the mortgage.  However, what you may not have known is that as the defendant you can file legal documents to resolve the foreclosure.  The resolution can and may be the pending short sale or loan modification, but there must be proof of that information filed by the defendant.  In other words, the lender does not stop the foreclosure proceeding simply because you contact the company and tell them you want to apply for a short sale or loan modification.

The necessary documents that you needed to file can be filed with or without an attorney.  With the latter being said, I can not stress enough DO NOT IGNORE THE FORECLOSURE DOCUMENTS especially if you are working on a short sale or loan modification.

The documents are simple to prepare and file yourself. However, it is very important to know the deadline that the document must be filed to preserve your rights.  This will vary by state, but the deadline are on the foreclosure documents that you receive in the mail or from the sheriff.  In New York, for instance, you have 20 days.  In Indiana, you have 36 days.

Filing the answer for the foreclosure summons or complaint filed by your lender ensure that you receive all notices for future actions on the case.  Another important reason to file an answer is to keep the lender from getting an automatic deficiency judgement due to your lack of appearance or answer to the complaint.

To prevent the latter from happening, you will need to file an answer.  This post will instruct you on how to do just that by providing an example answer to mortgage complaint blog.

Related articles

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Has Your Credit Got You Down? There is Hope.

Today’s post is by Tara Colquitt, and she would like to share with you some tips on improving your credit.

 

“Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending” – Carl Bard, theologian

 

Hello, I am Tara Colquitt, The Credit Woman. I am here to help you make a brand new ending.

 

Let’s first agree, credit
affects everything. But death, divorce, health issues and our all time favorite
un/under employment can cause anyone to have credit issues. However, credit
isn’t cancer. You can live with poor credit. It is just more expensive and
usually inconvenient. I am not here to make you feel less than Who You Are. I am
here to help you move from Where You Are. If you are ready. I cannot do this
without your
full cooperation. May I have your cooperation?

 

Great!
Then let’s do the following:

●Check your credit at www.annualcreditreport.com. It’s free. And it shows
the approximate date of removal from the report. Sometimes my advice to people with seriously challenged credit is to wait. They do not have the resources to get out of their situation but that is why you get a “do over” in 7+ years. But that does not mean to do nothing now.

●Make a budget and stick to it. Find your “Why”. Home, Savings, Education,
Retirement?

●Save $20 a week.

You can do this yourself, and some people do. But most don’t and
many don’t do it well. Did you pay the delinquent account without negotiating to have it removed from your credit report? Well, is difficult if not impossible to do anything once you have paid the creditor.
The hammer, your money, has been eliminated. Just as important to removing negative items is to build  credit. No one is going to loan you $100k if you can’t handle $1,000. You need to get a prepaid credit card and/or a secured bank loan. These are great trade-lines to build credit.

 

I am frequently asked how long does it take to improve your credit. Hmmm…how long does it take to lose weight? Well, it’s your effort, right? Breaking those habits. And so many other factors.  Budget and desire to make changes is key. If you do not have the money to repay debt or establish
a secured bank loan, it will take more time. I had a client in February I spoke
to on a Tuesday and by Thursday she did everything I advised her to do and then I had a client that after two years, she and her husband were ready to purchase a home. But they both had plans.

Now, I am also passionate about making myself obsolete. Any young adult with a job has the ability to establish excellent credit and purchase their first home within five years of graduation (high school or college). The concept is simple. Remember that $20, $20/week, $80/month which is approximately $1000 a year.  In 3 years that is $3000 and a starter home can be purchased with an FHA loan. This creates generational wealth. By the way, this concept works for anyone at any age. You must have a plan!

 

So, let me leave you with this offer: If you will not for any reason, but desire to carry out the advice I have just given, I can help you do this.

 

I am Tara Colquitt, The Credit Woman and I am here to help you Begin your New Ending.

Tara Colquitt, The Credit Woman
“Turning Self-Worth Into Net-Worth”
Tara@thecreditwoman.com
TheCreditWoman.com
www.SendOutCards.com/53116
215-350-2483 (c)
267-535-2907 (f)

Related articles

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Loan Modification Latest News

There are mixed views of the results of whether the loan modification measure is working.   Therefore, here is the latest news in loan modification from around the blogosphere:

http://best-bankruptcy-lawyer.info/1038/loan-modification-the-solution-to-avoid-foreclosure-and-crisis/ Loan Modification -The Solution To Avoid Foreclosure and Crisis …</a><p>If you would like to get loan modification you should be in a difficult financial situation. It is the most important requirement

http://www.loanmodificationexpresshelp.com/5054/only-10k-permanent-loan-modifications-as-of-oct-newsday/ Only 10K permanent loan modifications as of Oct. (Newsday)</a><p>Report: Only 10000 borrowers completed loan modifications under Obama program through Oct.</p>

Loan modifications: Few become permanent

Almost 35000 troubled South Florida homeowners have gotten a mortgage loan modification under an Obama administration program designed to reduce foreclosures, but that’s less than 5 percent of the borrowers who need them. …

http://washingtonindependent.com/70484/obama-administrations-loan-modification-plan-falls-flat White House Loan Modification Plan Falls Flat « The Washington …</a><p>At the beginning of this year lenders on their own were doing far more more permanent loan modifications than the government has been able  to accomplish since rolling out its program in April, noted Diane Thompson, an attorney with the …</p>

Related Loan Modification Articles

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• Foreclosure filings fall 8 percent in November (seattletimes.nwsource.com)
• Few benefiting from mortgage relief (msnbc.msn.com)
• Foreclosures Are More Profitable Than Loan Modifications, According To New Report (huffingtonpost.com)
• Obama loan relief plan hits goal early (seattletimes.nwsource.com)
• Citi Calls for More Mortgage-Principal Forgiveness (online.wsj.com)