Texas |Home Loan | Mortgage | Refinance

Archive for June, 2010

CHARLOTTE, NC (June 23, 2010) –According to LendingTree’s Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of lenders, on June 22,, lenders on the LendingTree network offered rates as low as 4.375 percent (4.51% APR) for a …
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(ARA) – Owing more on your mortgage than your house is worth may seem like a bad investment. But the alternative – choosing to default on your mortgage even if you can afford the monthly payments – will take a significant toll on your credit rating. “Strategically defaulting – deciding to stop …
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Tropical Storm Heading for Gulf Oil Spill, Mortgage Rates Fall to Low, Tapes Roll as Rod Blagojevich Trial Begins
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Rep. Edolphus Towns (D-NY) chaired a House Oversight hearing on foreclosure prevention. Mortgage executives from Wells Fargo, Citibank, Bank of America and others testified before the committee.
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Below are some common questions for property auctions:

Why Should I Buy At Property Auction?

There are numerous reasons for buying at property repossession auctions. All sellers at auction are motivated to sell and want to sell quickly. This often means that they are willing to sell their property at a low price. Often the residential properties will renovation work carrying out which means there is an opportunity for the buyer to make some money and also increase the value of their property. Also once the hammer falls at a property auction there is no chance of going back on a deal so there is a certainty of purchase.

Are there fewer costs in buying through auction or buying through an agent?

In both cases the fees tend to be similar, there will be legal fees and surveyors fees to payas well as any fees to pay in order to arrange finance. When buying at auction you will need to pay an administration fee to the auctioneers which typically falls between

As part of a measure to help homeowners who are behind on their mortgages or those who have lost a significant amount of equity in their homes, President Obama has created a Stimulus Package that will assist as many homeowners who qualify.

Under the Plan, there are several grants, loan modification programs, repayment options, and revised refinancing terms available for loans that are eligible.

* Grants — These are available for homeowners regardless of whether or not they have sub prime credit scores. If you are looking for short-term assistance, you might benefit utilizing grants to repay your loan.

* Loan Modifications — Previously, there were problems with loan modifications not working out, but the terms have been revised and the new guidelines entail the monthly payment being no more than 31% of your gross monthly income. Additionally, your debts must be no more than 51% of your overall income.

* Credits and Special Loans — First-time homeowners and people who have their first auto loans are able to take advantage of these programs.

* Reduced Interest Rates — rates have significantly dropped to 5.16% from 6.5%.

* Housing and Urban Development (HUD) — their services are free to homeowners seeking advice on their finances and approaching their lenders.

* Refinance — by refinancing under the new terms that no longer require you to have 20% equity in your home, you can have a lower interest rate and a principal reduction. This also may include an extension in the term of your loan, so that your payment can be further reduced.

* Waiving Fees — any late fees or processing charges may also be suspended, allowing you further savings.

For tips and facts about how you can benefit from Obama’s Home Stimulus Plan – or to find out if you qualify, visit our no nonsense home stimulus guide: http://ObamasStimulusPackage.net

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Fitch Ratings is warning that the Deepwater Horizon oil spill in the Gulf of Mexico may intensify problems for troubled Florida mortgage borrowers. Struggling homeowners in the state will have limited ability to face any …
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