Low Rate homeowner loan

Jul
23

Shocker: Mortgage Fraud Is Rampant?

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mortgage fraud

U.S. mortgage fraud reports jumped 36 percent last year as desperate homeowners and industry professionals tried to maintain their standard of living from the boom years, the FBI said on Tuesday. Suspicious activity reports rose to 63,713 in fiscal year 2008, which ended last September, from 46,717 the year before. California and Florida, centers of the housing bust, had the highest numbers of suspicious reports as foreclosures jumped, the stock market dropped and credit dried up. “Industry employees sought to maintain the high standard of living they enjoyed during the boom years of the real estate market and overextended mortgage holders were often desperate to reduce or eliminate their bloated mortgage payments,” it said. Reports filed through March put fraud reports on track to top 70,000 in the current fiscal year, the agency said.

When you mandate mortgage fraud, you shouldn’t be too surprised when you actually get it.

Of course it is those greedy ‘industry professionals’ who are to blame. Or is it?

Rent Back

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mortgage fraud

I believe that I am a victim of mortgage fraud and total loss is about $500,000.00 I already contacted FBI and also hired private attorney to file a lawsuit against the lender, seller, appraiser, realtor and the title company. To make a long story short .I bought a property which was inflated by the seller , over a half million dollars. The loan officer from the lender, appraiser, realtor, and the title company eventually helped seller to flip the property which means they all lied to me about everything. (I have all the evidences)
Please assume that I have a strong case – (Just for civil case) how much would be reasonable for me to ask the lender to compensate – I want to be a reasonable person and my lawyer and I have a little different opinion for this matter. I need a second opinion from others.
P.S. Previously I had a meeting with the president of the subject lender. He treated me as if I was a begger who is trying to make fortune out of this case. I was sad.
Thanks

Quick Property Sale
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homeowner loan

Online Homeowner Loans: An Introduction

There are millions of homeless people in the world who spend their nights under the open sky. And if the circumstances are so uneven then a person having a home is quite fortunate. Even when a homeowner approaches for a loan, the lenders feel comfortable with a sense of security. A homeowner loan is only for those possessing their own home and the loan is secured against the same.

Technology is spreading its wings in every aspect of human life and lending business is not an exception. Online loans provide a borrower the liberty to access a number of lenders simultaneously and thus save the time. Online homeowner loan is just one of numerous online loans available in the market. Apart from saving the precious time, the borrowers can monitor the variations in interest rates with an online homeowner loan.

Online Homeowner Loans: Terms and Conditions

The most important question at this stage is that who is eligible for an online homeowner loan? The eligibility criteria are just as simple as any other loan. Any UK citizen aged 18 years or above is eligible for an online homeowner loan. Apart from that, to avail this specific loan the customer must possess the rights of a home. The home serves as collateral and in case the customer defaults in the timely repayment the creditors have the legal authority to repossess the property.

Through an online homeowner loan, a borrower can easily avail any loan amount ranging between £5000 and £75000. The upper limit can be extended to the mark of £100000 depending upon the value of the collateral. The repayment period is between 3 and 25 years. Interest rates are determined by the factors like loan amount and repayment tenure. Being a secured loan, the rates are of course cheaper than the other ones.

Online Homeowner Loans: Summary

The market is full of online lenders and one lender will project the loan in an entirely different fashion than another. So go through the terms and conditions carefully and try to indulge yourself in negotiations because the more time you spend on internet to explore the available options, the more will a online homeowner loan be fruitful to you.



Rent Back
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homeowner loan

Many a times you combat with such circumstances that leave no sign in disturbing your financial health completely. You run out of funds to meet your daily needs and requirements. As it is you have no control over the phases of your life, you tend to go berserk with such adversity coming eventually.

During such a phase, your home proves to be a source of blessing to help your finances improve. You can obtain homeowner loans to start afresh and bring back your good days. No wonder it’s risky in pledging your home to the lender, but if it can provide you with the opportunity to take a stand again, you shouldn’t be bothered with that risk.

This financial help depends on the weightage of equity your home holds. Home equity stands for the actual worth of your home in the market. It keeps on increasing with the improvements a homeowner undertakes to increase its value in the market. So, your home condition along with the kind of investment done on it decides for your homeowner loans.

Your home is a door to new beginnings when trampled with your finances. You can make the most with this financial help generated from your home. You can pay off all your debts or take care of your kid’s college fees or enhance your business which was plummeting down and many more. Funds arranged from your home can prove worthwhile if used smartly.

Such aid comes with various benefits like low interest rates, easy monthly repayments, longer time duration, choice of interest as flexible, fixed or capped. Many lenders provide with additional benefits like repayment holidays, deferred repayments and accelerated repayments. You just have to shop around to click with the best deal suiting with your situation.

Most importantly, don’t miss upon your repayments. Just because of your slackness, you can wash your hands off from your home. If lenders won’t get payments on their terms and conditions, they can repossess your home. So, be very particular while opting for homeowner loans.



Sell and Rent Back
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homeowner loan

ARM loan because he the property is not OWNER Occupied I don’t believe he will qualify for the new HOMEOWNER AFFORDABILITY AND STABILITY PLAN the home is way upside down loan $355K homes in area now worth maybe $180K so no one will refinace what are his options?

Sell House Quick
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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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mortgage fraud

i am purchasing the property, the bank will have 1st position and the seller has agreed to take back a note 2nd position.

i am wondering if having a second mortgage will reduce my chances of closing the first mortgage?

i want to be clear, i plan to inform the bank and i have no intention to commit fraud by concealing the second mortgage.

Sell House Quick

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Jun
11

Homeowner Loans : A 3D View of Ownership!

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homeowner loan

Did you ever imagine that your home can prove to be much more than a mere shelter? Something more than just a roof over your head? Well, once you enter the loan world, you sure cannot overlook the value of the asset you own. If you are a homeowner, you have a horizon of opportunities where taking a homeowner loan is considered. A homeowner loan is backed by your home, i.e. it is a secured loan and is so called because you put up your home as collateral or security for the lender, against the amount borrowed. Homeowner loans are straightforward and are available to every homeowner irrespective of your credit history. The money availed through homeowner loans can fund innumerable financial needs and can provide opportunities galore if used well.

Homeowner loans can be modified as per your financial standing. The main attraction of these loans is the low interest rate offered on it. Since your home is a security for the lender, you, as the borrower benefit too by having lower interest rates and flexible repayment options to deal with. The latest report on homeowner loans reveals an interest rate as low as 5.1%. However, in this rather smooth sailing journey, there is one road block: in case you default in your monthly payments, your home or property is liable to confiscation by your creditor. Your creditor holds the claim on your home until complete repayment.

Another reason for a taking a homeowner loan would be if you had poor credit history. Lenders look more favourably on people who are homeowners as this exhibits a commitment to repay a large amount of money over a longer period. Homeowner loans could take longer to process because they necessitate valuation of collateral. Homeowner loans like any other secured loan permit loan amounts of £5,000 to £75,000 with repayment terms of 5 to25 years.

There is a general tendency for the equity in your home to rise owing to home improvements and other developments made by you. Sometimes you do not play a part in this at all because real estate soars due to any attraction in the vicinity like a mall or development of infrastructure. All this aesthetically adds to the value of your home. Homeowner loans take advantage of the equity in your home and hence are commonly known as Home Equity Loans as well.

Lenders are very cautious about the amount they lend. Their priority is value of collateral and prompt recovery of the loan. Creditors prefer granting amounts less than or equal to the market value of your collateral. A borrower with exceptional credit history can expect amounts up to 125% of the collateral, while someone with a turbulent standing may get about 60% of it. There is more scope to borrow larger amounts as long as you satisfy the lender of your ability to repay the loan.

A few benefits of Homeowner Loans:

•Home owner loans are of immense help to people who prefer not to sell their home, but need resources to meet over some contingency.

•People with poor credit histories: C.C.J’s, defaults, arrears, etc. can get good deals as long as they have collateral i.e. a home. Thus, good credit scores are not a must.

•Home Owner Loans offer low interest rates and easy repayment options.

•The loaned amount can be used for any purpose as per the borrower’s requirement.

•Homeowner loans are ideal for those who find it difficult to get loans from their local bank and for those who do not wish to sell their home when in need of resources to meet over some contingency.

Some lenders apply a charge to home secured loans if they are paid off before the due date. This is called a redemption penalty and can be up to two months interest – a significant additional cost. If you consider repaying your loan earlier than agreed, then it may be wise to take home secured loans that do not have a redemption penalty, even if you pay a slightly higher APR.

Comparing interest rates offered on homeowner loans from different lenders gives you a good idea of how competitive they are and familiarizes you with interest rates. It is imperative to ascertain that you can meet the repayments before signing the credit agreement. However, attractive it gets, “Look before you leap!”



Quick House Sale
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homeowner loan

Want to wipe the slate clean but having trouble getting loan. Not a homeowner.
Can I please stress that only Rep. of Ireland related sites are of use? Unfortunately the US and UK options will only lend to US/UK residents. Thanks!

Real Estate Professionals
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Comments (7)
mortgage fraud

I recently had an offer to enter into a business partnership with someone. He wants to buy residential houses and sell them, I have good credit so I would buy the house in my name. He says he has buyers waiting to buy so that they can use them as rentals. I found out that he would pay them 10k or for buying the house. I asked an attorney about this & he said to pay a buyer for buying the house is illegal so I refused to enter into a partnership with him. The thing is I have bought one of my own houses, I sold it to him subject to the mortgage which means he legally owns the property but the mortgage is still in my name. If he sells the property to someone & pays a buyer which is basically commiting lender fraud and illegal according to the attorney. Do I have any liability in this transaction since my name is on the mortgage?

Passive Income
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