Low Rate 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
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?
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
For example, our homeowner’s insurance is in an impound account, as well as property taxes. Will any of this come back or will it be absorbed into what is owed to the lender?
Sell House Quick
I am looking for a legit loan place that will lend to someone with very poor credit. I am going to school and financial aid did not cover all my school expense I am looking for a legit lender.
I tried looking for co signers for my alternative loan but everyone credit has been max. Please help!!!
Rent Back Fast
Lenders have different kinds of loan plans that suit the varying circumstances of the customers. Tenants opt for those loans that do not require any security. In case of homeowners, they have an option to pledge their homes and get cheap loans.
Your credit history also means a lot to the lenders. If you have a bad credit history, lenders would not be inclined to give you loans at cheap rates. Some concessions can be given to you if you are a homeowner. Tenants should never expect low rate loans if they have a low credit score. Your credit score enables a lender to judge your creditworthiness. This is the only way available to him to know about your precedents in the financial market.
Generally, secured homeowner loans involve a low rate of interest. These loans are a profitable option for the homeowners for the following reasons:
Cost efficient funds
Extended repayment term
Wide and easy availability in the market
A loan amount that extends up to £250,000
Fixed or variable rates
Once you are ready to give security to the lender (mostly your home), the loan process becomes very easy. Lenders take it as a positive and trustworthy sign. Even if you have a bad credit score, lenders may be willing to give you homeowner loans at competitive rates.
In case of secured homeowner loans, the repayment terms are comparatively easier. Many lenders provide you an option to choose between fixed rate interest, variable rate interest and ‘Interest Only’ method of repayment. So, you can decide it according to your individual circumstances and preference. Sometimes lenders attach conditions like early repayment penalty that raises your cost of borrowing if you decide to repay your loan earlier than agreed. These fine prints in the loan agreement should be carefully read before you sign the agreement.
Real Estate Professionals
I posted a question regarding evicting my parents from my home. I did a stated income, “low doc” loan, otherwise known as the “liar’s loan” these days. I have excellent credit and had used my parents’ money from their home sale as the downpayment around 11% of the purchase price. I have the home on the market becuase I can no longer live with my dysfunctional parents (I bought a home for all of us, with much discomfort, and they are alcoholics.). I learned the hard way not to give my life to them anymore. But I’m worried. I did overstate my income. I have my mom’s inheritance savings in my name to pay the mortgage for a couple of years. I signed a form authorizing release of my tax records. I heard that even if I stay on time with payments, I could still get in trouble for fraud because I overstated my income. I stated assets correctly, but they’re being used to pay the mortgage. My dad was supposed to help pay but isn’t. Hence the proposed sale.
What I read was that the companies do spot checks on 10 percent of their loans. If I am always on time with payments, why would they foreclose on me? I’m scared. I hope the house sells first, but there is always that what if, especially with this market.
I just bought this house 6 months ago. I now drive 90 miles a day to/from work…I know I can’t afford life itself right now…but I’ll find a way to stay current on payments. I hate having to pay it with savings. I figured they would be ridiculous to demand full repayment if they are getting their money on time every month…
Sell and Rent Back
I am a Realtor and was wondering if it is legal to assist people obtain a Forberance Agreement, Loan Modification, Partial Claim…in order to avoid a Foreclosure and get paid upfront fees for doing so?….The fees are reembursed if nothing gets approved…would these services be legal? I appreciate any feedback…Thanks.
I am not a homeowner, and I have a personal loan that’s screwing up my credit. I was just refused a great deal on a car because this loan is sitting out there, and even though I’ve been making monthly payments on time for 36 months, it’s still high (around 9,300). I can’t afford to make a “lump sum” payment, but I’d really like to get this darned loan off my credit report and off my back. Any ideas for (legal!) creative financing?