Mortgage Meltdown! What Does It Mean to Homebuyers?

Not long ago, mortgage companies started to offer a smorgasbord of programs to make home ownership easily available to almost everyone. Some of the common terms we have become accustomed to hearing include: Low-Doc No-Doc Full-Doc 100% LTV Interest Only ARM Conforming Non-ConformingThe housing market has been red-hot for many months, but we are realizing that all these short-term "solutions" have become long-term "problems". For instance, if a potential borrower had a decent credit score, they could obtain a "No-Doc" loan...which meant that...

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125 Percent Mortgage Loan

So changing circumstances can adversely effect your ability to service the loan. It must also be realized that although you may wish to consolidate unsecured debt for example credit cards and loans you will be placing unsecured debt on to a secured loan. A typical example might be where 95% of the mortgage consists of a secured loan on the property and the rest, the extra 30 % is an unsecured loan. The two amounts will normally be at the same rate which could be for example fixed or variable and both will run the same term. Some terms may...

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No Cost Stimulus Plan to Revive the Real Estate store - Real Estate, Foreclosure, Jobs, Short Sale

We all know that without the revival of the real estate market the economy cannot enhance as much as we would like it to. Being a real estate and mortgage broker for the past 26 years i have come up with this clarification that benefits roughly everyone. This may be the biggest transaction of my life, without pay, but it will help the economy and the country. In the next 5 minutes I'll show you how my stimulus box costs nothing to implement,...

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Second Mortgages become interesting Cash Out Loan Alternatives

With all of the interest rate talk these days at the water cooler, it seems that everyone knows where the interest rates are going except for the Federal Reserve. Of course citizen are speculating, and if they do predict where the interest rates are headed, they legitimately could not tell you when they are rising or dropping. As most of you have realized by now, the first mortgage rates may not go back down to the 2004 levels when the 30 year...

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Obama's Harp agenda - Why Banks Aren't Lending according to the Government's Suggestions

The government decided that it was time to bonus responsible homeowners, those who make their payments on time and have never defaulted. They created the Home Affordable Refinance program; not only one version, but a new and improved version called Harp 2.0. In it, homeowners are supposed to be able to refinance regardless of their equity position, regardless of Debt to wage ratio and regardless of past credit. All You Needed was to be on time 11...

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