The Costs Of The Reverse Mortgage Loans
Among the most popular reverse mortgage loans are the FHA insured HECM, home equity conversion mortgages, which have the following costs. 1. The mortgage insurance is 2 % of the appraised value. 2. The origination fee, the cap is 2 % of the first $ 200.000 and after that 1 %, with overall cap of [...]
What you need to know about mortgages and the type of financial services available
A mortgage is generally defined as a loan used to finance the purchase of real estate or a home. These loans come in different types, rates and terms. The specifications of these loans are important, for they along with the initial down payment determine the monthly payment amounts due throughout the life of these loans. [...]
Writing a Persuasive Loan Modification Hardship Letter
It is a very probable reality that in these times of economic uncertainty, your financial capability is strong enough to face the many pressures of daily life. One of those pressures is the likely chance of losing your house. This is where a compelling loan modification hardship letter comes into play. It is a legal [...]
Will I Save Money Without a Mortgage Broker?
The simple answer is neither yes or no but “maybe!”
Perhaps you might be capable of doing the necessary loan searches if you have the same qualities and qualifications a professional mortgage broker possesses.
Go On Your Own
There are quite a few “professional occupations” that many of the uninitiated firmly believe can be personally done with a [...]
Mortgage Bailout Plan – New Mortgage Refinancing Options
With the financial problems that millions of homeowners are facing, foreclosure and mortgage default are at all time highs. To counteract this, the Obama administration has enabled a $75 billion stimulus program to bailout homeowners, and stop homes from being lost. Millions of homeowners can now use these programs and get a mortgage refinance or [...]
Obama and Wells Fargo Offer New Mortgage Refinance Options to Homeowners
Wells Fargo and President Obamas mortgage stimulus plan will be able to help millions of homeowners. Now, getting a more affordable monthly home loan is easier than ever, regardless of your financial situation. Here are some things you should know about mortgage refinancing with Wells Fargo and Obamas stimulus plan.
Homeowners will find it much [...]
The Governments Mortgage Bailout Plan
With the financial problems that millions of homeowners are facing, foreclosure and mortgage default are at all time highs. To counteract this, the Obama administration has enabled a $75 billion stimulus program to bailout homeowners, and stop homes from being lost. Millions of homeowners can now use these programs and get a mortgage refinance or [...]
Obama Stimulus Plan has Mortgage Refinance and Modification Benefits
Do you owe more than your home is worth? Have financial problems and want to refinance into a lower monthly mortgage payment? Been denied a refinance in the past? Do not panic. New Government stimulus programs are in place to help. This stimulus program has over $75 billion in funding and can help over 8 [...]
How to Make a Compelling Hardship Letter for your Loan Modification
The most important document you will need in your loan modification application is the Loan Mod Letter or better known as the Hardship Letter. The hardship letter basically tells the lender why you had gotten into difficulty paying your monthly dues so it should clearly paint your current financial picture. This is your opportunity to [...]
Chase Mortgage Modification Fraud, Scams, and Dirty Tactics
Many homeowners are reporting problems with getting a Chase mortgage modification. In fact, a lot of people are saying that Chase has charged them over $700 in fees, with no real intent of delivering on any promises of a mortgage modification. People are complaining and we are listening. Here are some of the common problems [...]
