Posts Tagged "College"

No Income? No Problem! How the Gov't Is Saddling Parents with College Loans

on Mar 28, 2024 in Stated Income Loans | 0 comments

Question by ohio_state98: Where can I find out current home mortgage rates for my area? Does anyone know where I can find out the current mortgage rate averages for my geographic area? I’m looking at possibly refinancing and want to know if it would be worthwhile. Also, advice stomach can I expect any costs when trying to refinance? Best answer: Answer by orlandomortgagebrokerAll over ONLINE. The only problem is, medical that you don’t get that rate until you lock it, or you have a honest mortgage broker on your side, which might be willing to lose on the Yield Spread if he doesn’t lock it, if rates happen to go up, from the day you were quoted on Good faith Estimate. The minute you’re quoted a rate you like to proceed with, instruct lender or broker to lock, and provide form that states the fact and that their committed to lend at that rate. When lenders “lock”, they commit to lend at a specified interest rate and points, provided the loan is closed within a specified “lock period”. (Points are an upfront charge expressed as a percent of the loan amount). For example, a lender agrees to lock a 30-year fixed-rate mortgage of $ 200,000 at 7.5% and 1 point for 30 days. A lock is contingent on the borrower meeting the lender’s underwriting requirements for the loan. The need for locking arises out of two special features of the home loan market: volatility and process delays. Volatility means that rates and points are reset each day, and sometimes within the day. Process delays refer to the lag between the time when the terms of the loan are negotiated, and the time when the loan is closed and funds disbursed. If prices are stable, locking isn’t needed even if there are process delays. If there are no process delays, locking isn’t needed even if prices are volatile. It is the combination of volatility and process delays that creates the need for locking. For example, Smith is shopping for a loan on June 5 for a house purchase scheduled to close July 15. Smith is comfortable with the rates and points quoted on June 5, but a rate increase of 1/2% within the following 40 days could make the house unaffordable, and Smith doesn’t want to take that risk. Smith wants a lock, and lenders competing for Smith’s loan will offer it. If locks were equally binding on lender and borrower, locks would not cost the borrower anything. While lenders would lose when interest rates rose during the lock period, they would profit when interest rates fell. Over a large number of customers they would break even. In reality, however, borrowers are not as committed as lenders. The number of deals that don’t close, known as “fallout”, increases during periods of falling rates, when borrowers find they can do better by starting the process anew with another lender. Fallout declines during periods of rising rates. This means that locking imposes a cost on lenders, which they in turn pass on to borrowers. The cost is included in the points quoted to borrowers, which are higher for longer lock periods. The lender who quoted 7.5% and 1 point for a 30-day lock, for example, might charge 1.125-1.25 points for a 60-day lock. Years ago, lenders controlled lock costs by requiring borrowers to pay a commitment fee in cash. The fee was returned to them at closing but forfeited if they walked from the deal. But today, commitment fees have mostly died out. Borrowers don’t like them, and lenders and mortgage brokers...

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No Income? No Problem! How the Gov't Is Saddling Parents with College Loans

on Mar 5, 2024 in Stated Income Loans | 0 comments

Check out these big residence pictures: large home Image by LizMarie_AK We home sat here. It is enormous! If you would like to see much more residences click here… Large Home Image by crowdive More great homes click right here… Question by Amelia J: Is the Streamline Refinancing program a good choice? I have been in my home since 3/2008. I purchased it at a 6% rate for 285, pills 000 FHA loan. The mortgage is $ 2200.25 per month. I recently called Wells Fargo to inquire about a HARP loan but that is only conventional loans through Freddie & Fannie Mae. Ok, more about so the banker tells me about STREAMLINING (I had never heard of this before). She stated that I could get locked into a 4.625 and that my mortgage would be 2020.00 (about $ 180 a month less). Is this a wise thing to do? It is difficult to pay my mortgage but I have never been late and just roughed it out. Also, see I can’t do a normal refinance because my home is worth only $ 225,000 now (there were SEVERAL foreclosures in my area). Any suggestions on if I should do the streamlining, what are the pros and cons? Best answer: Answer by LandlordYes, I did exactly this. There are no drawbacks, this is the perfect solution for anyone with good credit. 100 times easier then a modification too. Your mortgage should drop more then that though. Add your own answer in the comments! NO BAIL! SEND ‘EM TO JAIL!! Image by eyewashdesign: A. Golden BLOGGED: 08 Oct. 2008: www.counterspinyc.blogspot.com/ New Yorkers Protest the US0 BILLION Wall Street BAILOUT: Wall Street, sildenafil NYC – September 25, 2008 Photographer: a. golden, eyewash design – c. 2008 Friends, The richest 400 Americans — that’s right, just four-hundred people — own MORE than the bottom 150 million Americans COMBINED! 400 of the wealthiest Americans have got more stashed away than half the entire country! Their combined net worth is .6 trillion. During the eight years of the Bush Administration, their wealth has increased by nearly 0 billion — the same amount that they were demanding We give to them for the "bailout." Why don’t they just spend the money they made under Bush to bail themselves out? They’d still have nearly a trillion dollars left over to spread amongst themselves! Of course, they are not going to do that — at least not voluntarily. George W. Bush was handed a 7 billion surplus when Bill Clinton left office. Because that money was OUR money and not HIS, he did what the rich prefer to do — spend it and never look back. Now we have a .5 trillion debt that will take seven generations from which to recover. Why — on –earth – did — our — "representatives" — give — these — robber — barons — $ US850 BILLION — of – OUR — money? Last week, proposed my own bailout plan. My suggestions, listed below, were predicated on the singular and simple belief that the rich must pull themselves up by their own platinum bootstraps. Sorry, fellows, but you drilled it into our heads one too many times: THERE…IS…NO…FREE… LUNCH ~ PERIOD! And thank you for encouraging us to hate people on welfare! So, there should have been NO HANDOUTS FROM US TO YOU! Last Friday, after voting AGAINST this BAILOUT, in an unprecedented turn of events, the House FLIP-FLOPPED their "No" Vote & said "Yes", in a rush version of a "bailout" bill vote. IN SPITE OF THE PEOPLE’S OVERWHELMING DISAPPROVAL OF...

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No Income? No Problem! How the Gov't Is Saddling Parents with College Loans

on Feb 16, 2024 in Stated Income Loans | Comments Off on No Income? No Problem! How the Gov't Is Saddling Parents with College Loans

Obama's New Housing Plan In A Nutshell – Mortgage Relief For Homeowners Interestingly, website like this and to help borrowers reduce their monthly payments and bring them within manageable levels, more about check the new Obama program provides a host of options. There is the home loan modification plan which has been specially designed to assist homemakers … For more informaiton please visit here… No Income? No Problem! How the Gov't Is Saddling Parents with College Loans … Despite her mother's modest income at the time — about $ 25, approved 000 a year as a freelance writer, she estimates — the government quickly approved her for the loan. There was a simple credit check, but no check of income or whether Nemenzo, a single mom, … If you would like more informaiton please visit here… No surprise: Student loan debt grows It's getting harder to pay off student loans. Because of the sluggish economy, fewer college students than before are able to settle into full-time careers immediately upon graduation, contributing to a jump in debt among lower-income households as the … For more informaiton please visit...

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Where do the presidential candidates stand on college affordability?

on Jan 21, 2016 in HARP Refinance | Comments Off on Where do the presidential candidates stand on college affordability?

Statement by the President on the Retirement of Representative Jim McDermott Home Briefing RoomFrom the News RoomLatest News Share-Worthy Photos Video Gallery Live Events Music & Arts Performances From the Press OfficeYour Weekly Address Speeches & Remarks Press Briefings Statements & Releases White House … The Vice President … More informaiton please visit here… President Obama Announces Another Key Administration Post Home Briefing RoomFrom the News RoomLatest News Share-Worthy Photos Video Gallery Live Events Music & Arts Performances From the Press OfficeYour Weekly Address Speeches & Remarks Press Briefings Statements & Releases White House … Pay Homeland … More informaiton please visit here… The Renovation Revolution: 203K And HomeStyle Mortgage Loans The answer is this; you can get a mortgage to buy a house and fix it up at the same time using the same loan. Renovation financing otherwise known as FHA 203K and Fannie Mae HomeStyle loans; provide solutions for this stalled market segment. For more informaiton please visit here… Mortgage Loan Rates Fell Last Week, order Refinancings Jump The average interest rate for a 15-year fixed-rate mortgage fell from 3.42% to 3.29%. The contract interest rate for a 5/1 adjustable rate mortgage loan increased from 3.14% to 3.20%. Rates on a 30-year FHA-backed fixed-rate loan fell from 3.90% to 3.86%. If you would like more informaiton please visit here… Former McAlister's Deli owner owes 000 in state sales taxes … $ 5.5 million in loans in 2011. According to the FBI, purchase “Swisshelm submitted financial statements to the bank that claimed his businesses earned a net income of more than $ 780,000 in 2010,” but Swisshelm's tax documents stated those business “had … If you would like more informaiton please visit here… Sterling falls as BoE governor suggests no rate increases likely this year To my mind, there are some important differences in this regard,” he stated at today's speech, which is the Preston Lecture at Queen Mary University of London. … Targeted measures include: – limits on high Loan-to-Income mortgages introduced last … For more informaiton please visit here… Golden Valley Bank Posts Record Profits for 2015 BUSINESS WIRE)–Golden Valley Bank (OTCBB:GVYB) President and CEO Mark Francis reported today that the company had its most profitable full year since the Bank's 2006 opening with net income of $ 1,539,330 ($ 0.77 per share) for the year ended December … More informaiton please visit here… Where do the presidential candidates stand on college affordability? Inevitably, cheap the question arises: If you are elected president, how will you make a college education more affordable? That's because New Hampshire is not only home to the first in the nation primary, the students who graduate from the state's colleges … If you would like more informaiton please visit here… Obama's State of the Union wins and losses A few months after Obama's 2010 State of the Union, congressional Democrats introduced the DISCLOSE Act, which would have limited political spending by companies with foreign ownership or government contracts and required certain outside groups to … If you would like more informaiton please visit...

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College Loan Debt: How Much Is Too Much?

on Jan 19, 2016 in Stated Income Loans | Comments Off on College Loan Debt: How Much Is Too Much?

Report Says Loan Modification Programs Trigger Strategic Default default Remember those loan modification programs the federal government introduced as a way to prevent further ruin for stressed homeowners after the bottom dropped out the housing market? It turns out they may be doing more harm than good in the … For more informaiton please visit here… College Loan Debt: How Much Is Too Much? Carrying little or no debt is the best position for students to be in when they get out of school and enter the workforce, drug of course. But for the majority of students today, page that's no longer a … To get more granular, viagra 100mg he recommends that your loan … If you would like more informaiton please visit here… EDITORIAL: Fannie Mae borrows trouble with new mortgage program Before the housing crisis, the income on your loan application had to be your own. Under the new program, however, you can get a home loan by claiming other people's income. Do you share an apartment with friends or family? All of their income counts … If you would like more informaiton please visit here… Collateral damage in the state's budget war There is no income limit to qualify for the services she receives through the Department on Aging, but there is an asset limit of $ 17,500, excluding the value of a home or car. Cassata, a widow, lives in a townhouse, "not completely paid for" she tells … For more informaiton please visit...

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