What programs available to keep homeowners from losing homes?
Question by Frenchie: What programs available to keep homeowners from losing homes? Is there government agency to refinance? Best answer: Answer by LandlordThe government does not have a loan department. They insure loans, viagra more about but you need to get the loan from a bank or mortgage company. What do you think? Answer...
Read MoreHARP now available for second homes, income properties
Check out these condominium photos: Fotoloco The Alexandra Condominium Halloween Celebration by Ortigas and Firm 045 Image by FOTOLOCO! Fotoloco photo booth photographs @ The Alexandra Condominium Halloween Party | Ortigas & Business | Viridian in Greenhills | All-you-want photo prints from Fotoloco photo booth If you would like to see a lot more homes click right here… Fotoloco The Alexandra Condominium Halloween Celebration by Ortigas and Company 068 Image by FOTOLOCO! Fotoloco photo booth pictures @ The Alexandra Condominium Halloween Celebration | Ortigas & Business | Viridian in Greenhills | All-you-want photo prints from Fotoloco photo booth If you would like to see a lot more homes click here… Question by Monkey dust: what are some government programs to help refinance a house? I live in Pennsylvania Best answer: Answer by JudyThis isn’t help to re-fi, more about but it is help to prevent foreclosure and re-negotiate your loan. This may not be what you need- but you look into it. Hopenow.com – set up by the feds (HUD). Heard about it in Oprah a couple of years ago – still going strong. (not oprah – the program) This service will help you prevent foreclosure – just in case you are in trouble. / What do you think? Answer below! Question by Rachel H: Refinancing – am I getting a good deal? I’ll try to be as brief as possible. I started trying to refinance my FHA mortgage at the beginning of April, view through the original lender. Our payoff value is currently at 120,500 and the appraisal value is 137,000. We have excellent credit (747 and 729). Our original closing date was 4/30. We were willing to put up to $ 1000 at closing, but were told it would not be necessary. With all the closing cost refinanced back into the new loan we were looking at a new figure of $ 126,000. Over $ 6000 in closing cost sounded high, but it did inclue $ 2600 of PMI, so we accepted. Our interest rate would go from 7.25% to 5.00%. Appraisal was done, then it took me 2 weeks to get up with the loan officer. Closing date came and went. Which brings me to our new closing date of 5/20…today. It’s been very difficult to get a direct answer of whether or not we would be closing today. Found out at noon that we are now required to hire a plumber to “certify” our septic system, which is another $ 200 that we did not know about. Does this all sound like normal procedure? Are we getting a good deal? I’m also worried that it has been nearly 60 days since we originally locked in our rate. Can they raise the rate at the last minute? If I have left out any important details please let me know, I will be happy to add them. Thanks for the helpful info. I’m not really concerned about having to get the septic certification. Just seems like that’s something they should have already had done instead of delaying the closing again at the last minute. Best answer: Answer by Paul in San Diego$ 6000 in closing costs sounds about right, especially with the PMI factored in. And, consider that this might include a prorated month’s worth of interest, too, and possibly points on the loan to buy down the rate (discount points). This should all be listed on a form they call the good faith estimate. Ask your realtor to see that (although you should have seen it when you signed all the loan papers). The FHA has...
Read MoreQ&A: Are stated income loans still available, or has a law passed to stop them now?
A few good condominium photos I identified: Fotoloco The Alexandra Condominium Halloween Party by Ortigas and Company 070 Image by FOTOLOCO! Fotoloco photo booth images @ The Alexandra Condominium Halloween Celebration | Ortigas & Business | Viridian in Greenhills | All-you-want photo prints from Fotoloco photo booth For much more houses click right here… Fotoloco The Alexandra Condominium Halloween Party by Ortigas and Firm 089 Image by FOTOLOCO! Fotoloco photo booth pictures @ The Alexandra Condominium Halloween Party | Ortigas & Firm | Viridian in Greenhills | All-you-want photo prints from Fotoloco photo booth For more homes click here… The Empire of Debt by Dee Hon Image by Renegade98 From Adbusters #74, generic Nov-Dec 2007 The Empire of Debt Money for nothing. Own a home for no money down. Do not pay for your appliances until 2012. This is the new American Dream, and for the last few years, millions have been giddily living it. Dead is the old version, the one historian James Truslow Adams introduced to the world as “that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.” Such Puritan ideals – to work hard, to save for a better life – didn’t die from the natural causes of age and obsolescence. We killed them, willfully and purposefully, to create a new gilded age. As a society, we told ourselves we could all get rich, put our feet up on the decks of our new vacation homes, and let our money work for us. Earning is for the unenlightened. Equity is the new golden calf. Sadly, this is a hollow dream. Yes, luxury homes have been hitting new gargantuan heights. Ferrari sales have never been better. But much of the ever-expanding wealth is an illusory façade masking a teetering tower of debt – the greatest the world has seen. It will collapse, in a disaster of our own making. Distress is already rumbling through Wall Street. Subprime mortgages leapt into the public consciousness this summer, becoming the catchphrase for the season. Hedge fund masterminds who command salaries in the tens of millions for their supposed financial prescience, but have little oversight or governance, bet their investors’ multi-multi-billions on the ability that subprime borrowers – who by very definition have lower incomes and/or rotten credit histories – would miraculously find means to pay back loans far exceeding what they earn. They didn’t, and surging loan defaults are sending shockwaves through the markets. Yet despite the turmoil this collapse is wreaking, it’s just the first ripple to hit the shore. America’s debt crisis runs deep. How did it come to this? How did America, collectively and as individuals, become a nation addicted to debt, pushed to and over the edge of bankruptcy? The savings rate hangs below zero. Personal bankruptcies are reaching record heights. America’s total debt averages more than 0,000 for every man, woman, and child. On a broader scale, China holds nearly trillion in US debt. Japan and other countries are also owed big. The story begins with labor. The decades following World War II were boom years. Economic growth was strong and powerful industrial unions made the middle-class dream attainable for working-class citizens. Workers bought homes and cars in such volume they gave rise to the modern suburb. But prosperity for wage earners reached its zenith in the early 1970s. By then, corporate America had begun shredding the implicit social contract it had with its workers for fear of increased foreign competition. Companies cut costs by finding cheap labor...
Read MoreAre Stated Income Loans for Self Employed Buyers Still Available?
by eyewashdesign: A. Golden Question by goheels08: Are Stated Income Loans for Self Employed Buyers Still Available? My husband and I are trying to purchase a larger home and are having the hardest time. Our credit is good and we have 5% to put down. The problem is that I am self-employed and have made 3 times more money this year than the previous two years. Every bank that I have talked to says they can only go off of previous tax returns and they give no account to what I have made this year. I was advised that the lovely “foreclosure boom” have wiped out stated income loans all together. Has anyone had any luck finding a lender that still offers stated income or low doc loans to self-employed buyers? Best answer: Answer by sam kya its easy ma , order help ……… http://www.freewebs.com/getloans http://www.freewebs.com/quick-loans Give your answer to this question...
Read MoreWhat government programs are available to refinance if your loan is NOT owned by freddie mac or fannie mae?
HARP 2.0? HARP vs HARP 2.0 What is the Home Affordable Refinance Program, information pills also known as HARP 2.0? It is the new government-sponsored answer to some mind boggling statistics: Nearly 23% of U.S. residences are upside down on their mortgage. This means about 6 Million homeowner owe more than their residence may be valued at. The percentages fluctuate broadly state to state. For instance 46% of Utah home loans have been estimated to have negative equity, cialis 40mg in addition 39% of California home loans and 20% of Florida home loans. The Home Affordable Refinance Program, price or HARP 2.0, is the revised “Home Affordable Refinance Program” launched in 2010. Specifically it is a new government-sponsored program that does not require an appraisal in order to refinance a property with an underwater home mortgages…also known as negative equity. The Home Affordable Refinance Program, also known as HARP 2.0, is for Fannie Mae and Freddie Mac held home loans that had been originated before June 1, 2009. Borrowers can check eligibility at the Fannie Mae and Freddie Mac websites here: Fannie Mae (http://www.fanniemae.com/loanlookup/); Freddie Mac (https://ww3.freddiemac.com/corporate/). The initial Home Affordable Refinance Program was restricted to 125% LTV (loan-to-value). The HARP 2.0 variation doesn’t require any appraisal and there’s no maximum LTV. Additionally, it is possible to have reduced paperwork for the new The Home Affordable Refinance Program (HARP 2.0). Provided that a borrowers monthly payment does not increase greater than 20%, you will probably merely need a VOE (verification of employment) rather than supplying tax statements along with pay stubs. Yet another excellent factor regarding the HARP 2.0 product is the fact that the rates reasonably competitive. If you achieve a t-year fixed rate mortgage you’ll have a marginally greater than market rate, or possibly a marginally greater fee to obtain a market rate. Nevertheless, if borrowers reduce the length of their mortgage to a twenty-year or shorter amortization, the risk adjustment is waived and you should receive a good market rate. Fannie Mae and Freddie Mac continue to have “risk based” prices for low credit ratings, therefore anticipate a somewhat higher rate and/or increased fees in the event a borrowers credit rating is under 740. Still, Fannie Mae and Freddie Mac have relaxed the credit prerequisite on HARP 2.0. Including removing the minimum credit rating requirement and permitting borrowers with bankruptcy and foreclosures to sign up. Borrowers do need to be current on their home loan for the past 6 months, but could have been thirty days past due once 7 to 12 months prior. The HARP 2.0 program may be the first mortgage program which has the potential to aid quite a few homeowners searching for refinance options. History of HARP and HARP 2.0 Recently Obama overhauled the infamous Home Affordable Refinance Program also know as HARP 2.0, however it is uncertain whether it could eventually help alter the housing industry. Some fifty-thousand mortgages in the original Home Affordable Refinance Program have been completed, since a number of modifications to grow the program went into effect December, 2011, resulting in 300,000 additional applications are already received. Consumers are described as“encouraged” because of the figures. However in relation to closing mortgages, the incidence of new mortgages monthly seems to be somewhat beneath the average mortgage refinancing pace with regard to Home Affordable Refinance Program. Since its beginning April 2009 to the 3rd quarter 2011, the Home Affordable Refinance Program has provided roughly One Million mortgages altogether, or roughly 29,000 monthly. Now, with HARP 2.0, that started to take effect at the end of December, the speed of...
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