Wells Fargo is one of the few mortgage lenders who is authorized to offer President Obama’s “Making Home Affordable” plan. Homeowners can use this plan to get more affordable monthly mortgage payments through mortgage modification or refinancing. Wells Fargo, is one of the biggest most trusted lenders in the country, and millions of homeowners can use them to get a better mortgage. Here Continue reading
Most consumers are aware that a history of paying bills late or not at all can hurt one’s ability to obtain a loan. All financial transactions are recorded by three credit bureaus and offered to lenders upon request in the form of a credit report. That report contains the all-important credit score, which determines whether or not the borrower is a good risk for a loan. If you have a poor Continue reading
If you have low income and are looking to get approved for a home mortgage loan. There are many programs available to help you get approved. Whether you are looking to purchase a new home or to refinance your existing home, with the following low income home loan mortgage programs, almost anyone can fulfill their dream of becoming a home owner.
The Federal Housing Administration (FHA) home Continue reading
We have the following quick examples to help you:
Figure out the new payment on your refinance
Compare your current monthly payment to your new one after your refinance
This mortgage loan example is about a refinance of a single family residence.
MORTGAGE LOAN SCENARIO
-The property is owner occupied.
-This property is worth around $601,000.
-The current mortgage Continue reading
If you are currently refinancing late mortgage then you know how frustrating it can be. It seems that when you are late on your mortgage no lenders will help you anymore, especially in the tight credit market we are now in.
First you need to realize that there are different ways of being late on mortgage payments and each effects your chances at refinancing much Continue reading
I once talked to a Loan Officer whose only goal was to close more loans. He had a plan he told me. He was going to send out postcards and mailers then follow up with phone calls asking the client if they wanted to refinance.
On top of that, he was planning on taking about 2 days a week and visit Realtor offices and drop off information for the Realtors. Not just rate sheets Continue reading
Bad Credit Refinance Loans Explained
Having bad credit affects your refinance loan in two ways:
-the mortgage closing cost fees you pay
-the interest rate you get
Generally speaking, the lower your credit score is the higher your mortgage refinance rates will be and the higher your mortgage fees will be.
Your refinance rate will Continue reading
One of America’s billionaires was recently asked the questions, “How do you do it? What is your number one wealth building secret?” Without even one second of hesitation he replied, “find what it is that people need the most, and give it to them.”
Remember that statement. — Give it to them.
There are literally hundreds of different ways to acquire real estate. In future articles, I will be sharing Continue reading
With thousands of foreclosures happening and a predicted second wave coming, loan modification has become increasingly popular for struggling homeowners. Lenders daily have to sift through hundreds of credible and disingenuous applications. The hardship letter most of the time is the only thing that sets homeowner applications apart. If you write a proper hardship letter, with all important information Continue reading
Many homeowners are struggling and with a predicted second wave of foreclosures, lenders are modifying home loans like never before. If are you having trouble paying your mortgage you may want to consider loan modification as an option. A loan modification is a permanent agreement between your and your lender that lowers your monthly mortgage payments. That is done with Continue reading