22 March 2010, 6:13 am
Reverse Mortgage No Credit score required- No down payment Required.
Let me hit some of these high points for you again.
A reverse mortgage can be used for a home purchase!
To qualify for this type of financing, a borrower must be financing their primary residence and be at least 62 years old. This loan does not have minimum credit score or income requirements, so more potential homeowners are likely to qualify. With the right home, in the right neighborhood, a reverse mortgage could be used to buy your new retirement home.
Filed under Loans and Credit, Porter County Sales, ReHabs, Uncategorized.
Tagged Buying Real Estate, current mortgage rate, home mortgage refinance, indiana mortgage, northwest indiana, real estate ideas, real estate solutions, reverse mortgage
15 March 2010, 6:43 am
FHA home loans have been around since 1934 and have helped many buyers purchase the home of their dreams. The underwriting guidelines on FHA home loans are much more lenient than on the conventional loans making obtaining financing much more accessible for more people.
The minimum down payment required on a FHA home loan at this time is 3.5%. Compared to the conventional loan which requires a minimum of a 5% – 10% down payment, this can make the difference of being able to purchase a home for some buyers or not being able to purchase due the larger down payment requirement.Sometimes, a buyer may not have all of the funds for the down payment and closing costs saved up, but they have a relative that wants to help them achieve the dream of owning a home. Both conventional and FHA loans allow a gift, however, there are big differences in the requirements on each type of loan.
12 March 2010, 7:07 am
Buying a Home? Your also Buying Insurance!
By Mike Adams
If you are a first time home buyer, or if this is the fourth home you bought your also an insurance buyer. Most Real Estate Agents don’t mention too much about insurance because it is not a product that they handle. They will (or should) tell you you need to get a homeowner policy on your new home as soon as your offer is accepted and point you to the phone book. That is about all that is said. What not said is important can save you a lot of money both in the short term and over the term of the loan.
Here are some things you should do……
8 March 2010, 7:48 am
The best thing to do when signing a mortgage is to have an attorney check it over to make sure everything is on the up and up. It’s best to use a lawyer that has experience with real estate law because not all lawyers are created equal and like anything else in life they specialize in certain areas. It’s usually not good enough just to give your mortgage to your regular attorney, instead insist on somebody who has experience with real estate because they can do a better job and they’ll do a quicker job which means you’ll pay less since lawyers charge by the hour.
Buying a house is a big responsibility and borrowing money can be intimidating to many people but it doesn’t have to be if you follow the simple tips that I outlined in this article today, then you shouldn’t have any trouble in the long run. Remember, when in doubt, ask questions!
18 February 2010, 5:06 pm
Many people have homes and mortgages and have taken out a loan through a bank and or lender of their choice. Their job then is to make monthly payments to pay back the bank that lent them the money, what happens if one cannot make their payments? Making payments on the mortgage is above all the most important thing a homeowner can do. Not making your payments on time results in a lower credit rating making it tough to get a loan.During this current recession, many people have lost their jobs making it impossible to pay their bills, currently; our unemployment rate is averaging around 10%. That means 10% of our population is currently out of work. When a person or family loses their income they cannot pay the bank back the money they borrowed, the bank will then start a foreclosure process that in a sense, takes the house back from the borrower.
5 February 2010, 5:37 pm
In these trying economic times home owners are finding it increasingly difficult to meet their monthly mortgage payment. Rampant unemployment and increasing interest rates has led to an astounding number of foreclosures in the country. Despite all their efforts, home owners cannot make their payments and finally accept foreclosure as an imminent fate or resort to selling their homes. There are two ways for homeowners to save their home one is refinancing and the other is home loan modification.
7 January 2010, 9:08 pm
Whether you’re applying for the first time for a mortgage or changing lenders, there are important things you should know that could save you money. It is possible for you to obtain the home or business financing you need! Consider the advantages of extending your home mortgage payments over a thirty-year period. Another option is a 30-year mortgage, which offers affordable monthly payments, low fixed rates, and access to home equity cash and stability and predictability.
Another choice is an adjustable rate mortgage, your choice or acceptance of an adjustable rate mortgage, can and will have a profound effect on any future mortgage payments. Financial hurdles which often seem difficult to manage can be navigated successfully with the assistance of experienced and skilled loan specialists.
Now that you have made the smart decision to purchase or refinance your home or commercial property, let one of our financial lending experts assist you in navigating the ins and outs of the process. A commercial mortgage can help you achieve your business goals by providing the capital you need to start a business or restructure your existing business. If you are a homeowner and need money, you can use your home to obtain a second mortgage.
16 December 2009, 7:26 am
Find Out How To Start Building Your Real Estate Portfolio by Daniel Mc Grey guest author Nowadays, many people are wondering how to make their way into the real estate industry. First, you need to make sure that you really want to be in the business. Once you are ready to take on the challenge, [...]
Filed under Loans and Credit, Porter County Sales, ReHabs, Uncategorized.
Tagged adjustable rate mortgage, Area Leader, home mortgage refinance, mike adams, real estate ideas, real estate solutions, Rehab, rentals
6 December 2009, 7:51 am
MICHELLE YOUNG FINANCIAL Your Mortgage Planning Resource, by Michelle Young Choosing a Mortgage Broker in today’s world means not just receiving an expert mentor through the complex mortgage lending process, but a trusted advisor for life. I am proud to be able to offer you extensive choices and access to information while continuously weighing and [...]
Filed under Uncategorized.
Tagged adjustable rate mortgage, Area Leader, best mortgage rate, big mortgage, Buying Real Estate, current mortgage rate, econd mortgage, home mortgage rate, home mortgage refinance, Indiana, mortgage, mortgage lead, mortgage loan, mortgage quote, web mortgage
29 November 2009, 4:50 pm
Once you get a home second mortgage you are now using the equity in your home as collateral or security for the loan. If you fail to pay back the bank or lending institution it may result in foreclosure on your home. In some states if your home is foreclosed upon and sold at an local city auction you may be responsible for any shortage of balance remaining after the sale. This will really add to the unneeded stress.
Filed under Uncategorized.
Tagged adjustable rate mortgage, best mortgage rate, George Mollway, home mortgage rate, home mortgage refinance, home values, mortgage, mortgage loan, real estate solutions, valparaiso mortgage loan, web mortgage
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