Low Rate homeowner loan

Apr
23

Is this considered mortgage fraud?

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mortgage fraud

If a homeowner is using his (mortgage paid) real estate to secure a home equity line of credit but the home is bombed out due to years of neglect and obviously not worth what the homeowner asserts, and the lender hasn’t inspected the inside of the home to see this, should that be considered fraud on the part of the borrower?

Sell House Quick
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Comments (4)
homeowner loan

im looking for some financial company who will give me a loan without paying fees upfront.i live in ireland and im a homeowner,every loan i applied for they wanted me to send them money first which defeats the purpose.so any help will be great,

Quick House Sale
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Comments (6)
mortgage fraud

Don’t know where to find help. My son who is developmentally disabled was conned into signing mortgage papers on four homes totaling over $1 million. He had great credit but was only making a little over minimum wage in a warehouse job when he answered an ad in a Chicago newspaper saying he could make money by helping other people with poor credit get housing. He was naive enough to believe this. Now all four homes are in foreclosure and we have nowhere to turn. We live near Chicago.How could they give loans to someone making so little money? Does anyone know where to go for help? He’s been served with papers. We are retired and cannot help him much.

Sell and Rent Back
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Comments (3)
mortgage arrears

we are due in court for the first time and hopefully the last,for not paying mortgage arrears its about £1500.Does anyone know what happens in the courts? We can pay our mortgage but we are in arrears with a few companies at the moment.

Rent Back
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Comments (3)
homeowner loan

No worries for the homeowner who are looking for secured homeowner loans, as homeowners everywhere are greeted warmly with ample opportunities from the lenders.

In the secured homeowner loans borrower’s home plays an important role for acquiring the loaned amount. Depending upon borrower’s home value loaned amount is decided by the lender. So the first step to avail the secured homeowner loans is that borrower must get his home evaluated from the dealers so that he can fetch the loaned amount.

Secured homeowner loans amount ranges from £5000 to £75000 i.e. 90% of the collateral placed. Whereas loan amount can be extended to 125% of collateral’s value but depending upon the borrower’s credit history. Or borrower has to place higher value collateral to get greater loan amount.

The repayment term for the secured homeowner loan usually varies from 2-30 years. The interest rate charged on the secured homeowner loans are relatively lower as the risk borne by the lender is quite less. The interest rate charged on the loan amount depends upon the amount owed and the repayment period offered.

Secured homeowner loan amount can be used for various purposes like renovating the home, going for exotic vacations, meeting the wedding expenses, consolidating the debts etc.

Borrower should opt for the secured homeowner loans only when his present financial condition permits him as on non repayment, borrower may end up in loosing his home. As lender has full right to repossess the collateral against the non repayment or failure in repayment of loan amount.

Secured homeowner loans are open to all types of borrowers irrespective of credit score i.e. good or bad credit holder can utilize these loans for fulfilling their personal requirements.

Like other loans, secured homeowner loans can be easily accessed from various financial institutions like banks, lending organizations or online lenders.

Home is a place that provides shelter to person in his good days and bad days too. As in bad days his home acts as collateral for the secured homeowner loans.



Rent Back
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Comments (0)
mortgage fraud

on investment property?

Rent Back Fast
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Comments (2)
homeowner loan

Homeowner loans or mortgages come in two basic types. There are fixed rate homeowner loans and adjustable rate homeowner loans. These terms refer to the interest rate applied to the loan.

Both types of loans have pros and cons. Before a person decides on which type of homeowner loan to get they should understand each type so they can make the best decision for them.

Fixed rate loans have a locked in interest rate. When the loan is made, the current interest rate is used for the life of the loan. The biggest advantage to this type of loan is that the monthly payment amount will not change.

However, if the rate locked in at is rather high then in the long run the homeowner will pay a lot for the loan. Fortunately, there is the option of refinancing when interest rates fall. This does involve more paperwork and can include additionally costs. Some people may not prefer this option due to these factors.

Adjustable rate loans have an interest rate that changes as the interest rates change. With this type of loan the monthly payment will change. The homeowner will not ever know exactly how much they need to pay until the due date.

The good point about this type of loan is that they allow the homeowner to take advantage when rates drop right away. However, if rates suddenly rise the homeowner is stuck with them.

Some people prefer to start with an adjustable rate if the market has been steadily falling. Once they reach a comfortable rate they then switch to a fixed rate loan so they can lock in at the lowest rate possible. Some people go with a fixed rate loan and simply refinance whenever the rates fall drastically.

The choice between a fixed rate and adjustable rate homeowners loan is something that should be made carefully. Lenders have created homeowner loans that combine aspects of both types of loans to try to entice buyers. Mixes loans may start out as fixed and turn to adjustable or start out adjustable and turn to fixed.

They may offer a fixed rate at a discount for a few months and then lock in at the current rate after that initial time period. These types of mixed loans are really a sales tactic, but they can prove to be very helpful for a person who is unsure which type of homeowner loan to go for.

Homeowner loans can be very confusing, especially when it comes to interest rates. The whole idea is to choose the loan that will cost the least. However, with interest rates changing all the time it is often hard to figure out just what the best rate is.

One of your options is to find a good mortgage broker, ask your friends and family if they can recommend one to you. Using a mortgage broker will make your life a lot easier, saving you both time and money.

They will be able to look at your requirements and circumstances and go away and find a homeowner loan that best fits your criteria. They will charge you a fee, but in long run you will save money.



Real Estate Professionals
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Comments (0)
homeowner loan

If the government buys from the bank that mortgage loan, shouldn’t the bank share in whatever loss takes place.
Why should the taxpayer absorb the entire loss?

Quick House Sale
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Comments (2)
mortgage fraud

My grandfather had his home paid off and was “talked” into getting money out of his home in a re-fi. He did this about 2 years ago and got more money out like a year ago. He was given an option payment with an adjustable rate. No one else in the family (his children) were not asked or notified about this. My question is does he have a case. He will be losing his house probably in 6 – 8 months. He is an 85 year old man and he lives on Social Security less than $2000 a month. Any help and/or information to get help would be great.

Any lawyers out there will to help out email me joe@southbayideas.com

Thanks

Rent Back Fast

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Comments (1)
mortgage fraud

or do you believe as I do that politicians and especially the Bush administration are trying to point the finger and everything they can except the real reason?

http://news.yahoo.com/s/ap/20080619/ap_on_go_ca_st_pe/mortgage_fraud

Yes mortgage fraud has happened, but I am sure its a small fraction of all mortgage loans made. I would be surprised to find out that more than 1 out 200 mortgage loans in the USA involved mortgage fraud of even of the most minor nature.
and I am sure that all those foreclosures in Clevelan Ohio and Detroit Michigan and other depressed areas are not evidence that entire geographical areas were duped by fraudulent lending.
so holbrook you think that millions of foreclosures are happening becasue millions of mcdonalds workers bought too much house. thats just as delirious as blaming it all on fraud.

why do you people insist on acting like ostriches and bury your head? does it make you feel better to ignore the truth?
and why is it that the foreclosures are more prevalent in certain regions and cities?
and for the most part those happen to be cities that have been most negatively affected by certain trade policies? Is it fraud to get laid off and your job sent to china? is it buying over your head if you get laid off and your job sent to india?

Rent Back Fast

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