Mortgage Refinancing: Wait or Move Now?
The CoreLogic Home Price Index is up 2.5 percent from a year ago and the Federal Housing Finance Agency's purchase-only index reached its highest level in nearly two years, order medicine after growing 3.7 percent from last year — the fastest pace since September …
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Arizona State Credit Union reports members' HARP savings
Arizona State Credit Union saved 600 of its members more than $ 2 million each year by participating in the federal government's Home Affordable Refinance Program. The average member saved $ 369 on monthly mortgage payments, website the credit union reports.
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Question by Go with the flow: FHA has no mimimum mortgage requirement, website but banks will only make a loan for so little?
True or False.
Let’s say you find a house for $ 8, information pills 000
From what I have read, there FHA does not have a minimum requirement.
But, from what I have read most banks do not make mortgages for loans under 40K or 50K. My guess is all the paperwork and costs would be too great for an amount so small.
Anyone an expert on this?
I am sure there are banks out there that will do mortgages for only 30K, but I can’t imagine it being worth their time to do a mortgage for less
Best answer:
Answer by djstwain
As with any business they get to decide what loans will make them money. When you take into consideration the cost of doing business, it may not makes sense for them to write a loan for under $ 20,000. I would try a credit union or local regional bank.
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Question by tiredbutwiredlove: Obama’s loan modification program and 2nd mortgages?
We have 2 mortgages. Our first mortgage company will do the new modification, cure but does our 2nd mortgage company have to? I’m confused how Obama’s new plan covers those of us with second mortgaes who have lost our income. I know we would be able to refinance and put them together under the new plan, more about but I still don’t think it would save us much, and not as much as getting both of them modified. Any help in understanding this would be great!
Best answer:
Answer by Gaytheist Buddha
No help for second mortgages.
What do you think? Answer below!
Question by Spokesmodel: I received a letter that I may qualify for lower mortgage payments for my FHA Loan.?
I received a letter from Newport Shores Mortgage that I may qualify for a payment reduction on my FHA loan. Is this a scam? I contacted my mortgage company (Wells Fargo) a few months ago and they told me that FHA loans don’t qualify for any of the Obama programs, nurse but that it could change in the future. I looked up Newport Shores Mortgage on the HUD official website and they are listed as a qualified lender. I don’t want to get scammed and potentially lose my home, but I do need some help lowering my monthly payment. Does anyone know anything about this?
Best answer:
Answer by patrick
well… you are being partially scammed.
What they did was search through the recorded deed documents, or through credit reporting agencies, and determined the value of your current loan, and the interest rate you are paying. Then they determined that you may qualify for a new FHA loan at a lower rate.
They are really looking to get you to refinance your loan, through them.
that means you will have to apply, pay all the closing costs, and application fees.
Most likely you are better off throwing the form letter in the trash.
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Check out these chateau photos:
Chateau d’Anet
Image by ell brown
A French Chateau close to Dreux built from 1547 to 1552 for Diane de Poitiers, more about the mistress of Henry II of France.
The Chateau was used as a place in the 1965 James Bond film Thunderball
This was just a quick photo quit on our tour group, page so we did not go in. Took lots of shots and we had been on our way towards Chartres.
The Château d’Anet is a French château near Dreux constructed by Philibert de l’Orme from 1547 to 1552 for Diane de Poitiers, the mistress of Henry II of France. It was a gift from the king and was constructed on the former château at the center of the domains of Diane’s deceased husband, Louis de Brézé, seigneur d’Anet, Marshal of Normandy and Master of the Hunt. The château is especially noted for its exterior, notably the statues of Diane de Poitiers as Diana, goddess of the hunt, by Jean Goujon and the relief by Benvenuto Cellini more than the portal. Anet was the site of one of the initial Italianate parterre gardens centered on the building’s facade in France the garden-designer in charge was Jacques Mollet, who trained his son at Anet, Claude Mollet, destined to turn into royal gardener to 3 French kings. Anet right now The château was constructed partly upon the foundations and cellar vaults of a feudal castle that had been dismantled by Charles V and was subsequently rebuilt as a Late Gothic manor of brick and stone. The château was not pillaged in the course of the French Revolution, but Diane de Poitiers’ remains were removed to a pauper’s ditch in the parish cemetery and the rich contents of the château, which were the house of King Louis XVI’s cousin, Louis Jean Marie de Bourbon, duc de Penthièvre, were sold at auction as biens nationals. A significant portion of the château was subsequently demolished, but only after Alexandre Lenoir was in a position to salvage some architectural components for his Musée des monuments français ( presently situated in the École des Beaux-Arts in Paris). The components had been reinstalled at Anet right after World War II. The restoration of the château itself, in pitiable condition, was due to comte Adolphe de Caraman, who bought it in 1840 and undertook a colossal system of restoration. In 1851, the minister of the interior granted Anet the status of a monument historique. Below financial duress, Caraman sold the château in 1860 to Ferdinand Moreau, who continued the restoration, getting furnishings and functions of art that had been thought to be initially from the château. The portal The free-standing chapel of Anet, constructed to the left of the cour d’honneur in 1549-1552, is created on a centralized Greek cross floor strategy below a diagonally-coffered dome. Its facade has a porch of widely-spaced paired Ionic columns amongst towers crowned by pyramidal spires.In 1581, Henri III and his mother Catherine de’ Medici came to the chapel to attend the baptism of the infant son of Charles, duc d’Aumale. There is also the mortuary chapel, constructed according to Diane de Poitiers’ final wishes to contain her tomb, commissioned from Claude de Foucques by Diane’s daughter, the Duchesse d’Aumale. The home belonged to many of louis XIV’s descendants Louise-Françoise de Bourbon died here in 1743, she was a daughter of the renowned illegitimate son of Louis XIV the Louis-Auguste de Bourbon, duc du Maine. His sons the princes des Dombes and comte d’Eu lived right here when away from Versailles. It was later owned by the fabulously wealthy duc de Penthièvre, very first cousin of prince and the comte. The castle was employed as a filming location in the 1965 James Bond film Thunderball.
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Chateau Fountainbleau
Image by Marcel “MadJo” de Jong
Chateau Fountainbleau
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chateau
Image by zoetnet
chateau in a park in central paris france
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Question by : Can someone explain a no doc mortage loan to me?
I just heard of the No Doc loan. Are they real? If they are, viagra what is involved and how much more do you pay?
Oh, viagra and what is a point? How much does one point equal in money?
I think I have my best answer. This loan seems terrible. I thought it mean tthat you didn’t have to fill out a bunch of paperwork.
Best answer:
Answer by src50
No doc loans are pretty much nonexistent now. A point is one percent of the loan amount.
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Wells Fargo Sued Over Claims It Cheated FHA on Mortgage Defaults
The firm, viagra now the largest U.S. home lender, unhealthy paid $ 125 million and set up a $ 50 million assistance fund to settle federal claims in July that it discriminated against minority borrowers. The settlement was … is still pending. Bank of America Corp …
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Mortgage assistance set for Maricopa County homeowners
Homebuyers have access to 30-year, clinic fixed-rate mortgage loans (FHA, VA or USDA-RD) that also provide a grant for down payment and closing cost assistance equal to 5 percent of the original loan amount. Special incentives will be given to qualified U.S. …
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Mortgage Fraud Lawsuit Filed Against Wells Fargo in Manhattan for Fraudulent …
… with WELLS FARGO's participation in the Federal Housing Administration (“FHA”) Direct Endorsement Lender Program. The lawsuit alleges that, as a result of WELLS FARGO's false certifications, FHA has paid hundreds of millions of dollars in insurance …
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Question by Sunny: Which bank offer the LOW Mortgage Rates?
I am going to buy a house. Do you know which bank offer low Mortgage Rates? I am located at Boston, buy information pills USA. Thanks for your info!
Best answer:
Answer by Anonymous
They all have low interest rates. However, discount the interest rate you are offered will depend on your qualifications: income, debt, credit history, assets, reserves, etc. Shop around. Start with Julie at http://primelendingonline.com
Good luck.
Know better? Leave your own answer in the comments!
Check the newspapers that are local for advertised rates. Use the web to search what is available. Check with mortgage brokers who can shop multiple lenders.
There is no best rate. It really depends on the borrower’s credit, the down payment and the loan size (jumbo, etc).
There is also a difference based on the loan term (15 year fully amortized vs. a 30 year fully amortized; a 5/1 ARM vs a discounted ARM that adjusts after 12 months).
Many variables and only some of them you control. Others are dictated by what you have done in the past and other variables which can not be easily changed.
All lenders offer a interest rate, the rate is primarily based on your credit scores that you have. You have to know what you are qualified to purchase. So the first thing you should do is contact a mortgage, complete a loan application, after which he will run your credit report. This credit report will give him your credit score. Get a cup of coffee or your favorite beverage when filling out the loan application this is not a 15 minute chore.
Your credit score will tell him what loan programs you are qualified for as well as the interest rate you can expect. This credit score will tell if you are able to get a 100% loan and if not how much cash you have to bring to the table as your down payment.
There are lots of documents and information the mortgage broker will need. I will give you a few to get you started.
#1 Six months of all bank statements you use currently, as well as any statements from your 401k at your place of employment
#2 One months of pay stubs from all that are going on the mortgage.
#3 Two years of federal income taxes and W-2s
After discussing the best loan program for you and agreeing on the program you want the mortgage broker will issue you a pre-approval letter. You should also get a Good Faith Estimate (GFE) This document will give you an idea of any and all charges you will be required to pay to include any points for the loan and other closing cost.
Now once this has been established you should connect up with a real estate agent to find you a home. Upon finding a home you like the real estate agent will then prepare a sales contract for you and the seller to sign. The mortgage broker will order an appraisal of the house to prove the value.
Once all the documents necessary has been collected the mortage broker will order loan docs for the program that you agreed to earlier. Again don’t plan on spending a lunch hour there to sign loan docs this is a process so be prepared to be there for awhile.
Don’t sign the loan docs if anything change from what the mortgage broker explained to you. Call and get an explanation.
I hope this has been of some use to you, good luck.
“FIGHT ON”