Q&A: Mortgage Broker?
Qualifying For The HARP 2.0 Plan-What You Need To Know About The Process The home affordable refinance program 2.0 HARP is a part and parcel of the “Making Home Affordable” plan initiated by the Obama administration way back in early 2009. The federal schedule allows distressed homeowners to refinance homes even if they … For more informaiton please visit here… FHA Loan Modification Program — Follow These Guidelines To Get Fast Approval Mortgage loan modification and loan refinance are all a part of the making home affordable program wherein the Government initiated a strong back up for the struggling homeowners that would help them get up on their feet and repay the loan without any … For more informaiton please visit here… Reverse mortgages risky for boomers? Depending on one's age, visit web a Saver borrower will receive 51 percent to 61 percent of the home's appraised value or of the FHA loan limit of $ 625, what is ed 500, what is ed whichever is lower. The Standard's loan amount ranges from 62 percent to 77 … According to All Reverse … If you would like more informaiton please visit here… Question by SadToday22: Can anyone tell me more about the Making Home Affordable Program? Will I qualify? *Read More*? I have owned my home for 5 years, about it refinanced for debt consolidation twice, site the last time being in 2005. I technically have an ARM loan that was supposed to adjust over a year ago but due to the failing economy the automatically made my ARM extended with no adjustments until 2014. I am struggling to pay all my bills, visit web however I have not gotten behind on my mortgage payments whatsoever. My DTI is very high and my husband filed bankrupsty on his credit card debt after he lost his job a couple of years ago and went unemployed with no unemployement pay for 6 months. He tried continously to find work and was damn lucky to get the job he has now. In the mean time I had to take a pay cut and a HUGE cost of health insurance increase. Between the two of us we were doing much better financially 5 years ago than we are now even though we planned 5 years ago to have our annual income be double what it actually is thanks to our poor economy. ANYWAY, because of all of this he has crappy credit, I have very high DTI ratio due to student loans and my home is not worth the $ 97,000 we owe on it, I would imagine it would be worth more around $ 80-85k. What is this new program? My mortgage company said it is coming soon and I read over the documents they provided me with but it seems like a lot of jargon. My mortgage is through Wells Fargo. Is what I am hoping for is for them to refi me at a lower monthly payment OR at the very least just make my ARM fixed for minimum 15 more years. What do you think my options are going to be? Best answer: Answer by kcgpuliceOne reason I don’t think you would qualify is because you have to owe between 80% to 105% of your home’s value. You owe more than that, sounds like. Read some of the facts sheets here, http://www.financialstability.gov/ I worked with Wells Fargo too. They are clueless about what this program is. All the counseling numbers I called, they are cluesless too. But if you call your state’s HUD numbers from the MHA website, they...
Read MoreCan I sue mortgage broker for cost of appraisal and home repairs?
Barchart Morning Call The Japanese government said that tax revenue in the next fiscal year that begins April 1 will total 43.1 trillion yen ($ 474 billion) and will exceed bond issuance of 42.85 trillion yen for the first time in four years. The government optimistically … More informaiton please visit here… State could make play for arena A July 18 email from Mark Morante, order recipe the MEDC's senior vice president of program management, capital markets and incentives group, to Detroit Economic Growth Corp. CEO George Jackson and Brian … Wayne County Executive Robert Ficano has said for several … For more informaiton please visit here… Musician of the Week: Nina Simone Eunice Kathleen Waymon (February 21, visit web 1933 – April 21, order 2003), cheap better known by her stage name Nina Simone, was an American singer, songwriter, pianist, arranger, and civil rights activist widely associated with jazz music. Simone aspired to become a … If you would like more informaiton please visit here… Ian Somerhalder and Nina Dobrev Will Suit Up for the 2013 Celebrity Beach Bowl! On Super Bowl weekend, The Vampires Diaries co-stars and real life lovebirds Ian Somerhalder and Nina Dobrev will join forces with fellow celebs to face former NFL greats in the 2013 Celebrity Beach Bowl. Don't worry, it's flag football. This game of … More informaiton please visit here… Question by tim: Can I sue mortgage broker for cost of appraisal and home repairs? I moved into my investment property after selling my primary residence and lived there for 4 months before I engaged a mortgage broker to refinance my motgage as a primary residence. I supplied the broker with all the pertinent info needed including amount of time that we lived in the residence. He ran my info & told me I was approved for a refi loan with a 15 yr fha mortgage at a far reduced rate than I previously had on my 30 yr investment property mortgage. I then had to pay $ 700 for an appraisal (it’s a duplex). When appraisal was returned it was lower than expected making LTV around 93% and also mandated that I make repairs to the home (fha required) that cost me in excess of $ 2, pilule 000 to complete. Broker assured me that although the appraisal value was low, we would have no issues completing the refi after we made the repairs to the home, so we took care of repairs, had a re-inspection and the house passed. I then expected the loan to be processed quickly as that was what broker had told me would occur. 1.5 months later broker continued to blame delay on large refi volume and (for final 3 wks) that loan was in underwriting. After the 1.5 months, I grew frustrated with delay and pushed hard for answers. Broker finally responded to me that there is an issue due to amount of time I occupied residence, but was confident it would be worked out very soon and loan would close. I then decided to do my own investigation of FHA guidelines and found that its very clear in guidelines that if you move into prop previously owned as an investment prop, that you need to have lived there for 12 mos to get typical FHA refi consideration and if you lived there any less than 12 months that only loans with LTV 85% or less are approved. Can I sue him for the money spent in appraisals/repairs as he didnt know of these guidelines beforehand and continued to advise me to move forward...
Read MoreQ&A: Should I use a mortgage broker or do my own shopping at local banks?
Some cool chateau images: Château-d’Oex Image by Nouhailler Château-d’Oex If you would like to see more homes click here… Château-d’Oex Image by Nouhailler Château-d’Oex If you would like to see more homes click here… Château-d’Oex Image by Nouhailler Château-d’Oex More great houses click here… Question by Harold M: what is HARP home mortgage thru Wells Fargo — i would like information on what it is —it is about refina? I received a letter from my home mortgage bank to refinance my home mortgage and it will called HARP Three Step Express and i was wondering what that is Best answer: Answer by skrIt’s a sweetheart deal. They will give you a few options on term and the rate is a fixed rate mortgage. It basically refinances what you currently owe with no cost to you. Now the rate is a tad bit higher than what you see online but the trade off is you pay NOTHING out of pocket. You will get a close at home package and all you do is notarize it and mail it back in. For most it’s a win- win situation, more about they can either lower payment or term. HARP stands for Home Affordable Refinance Program and this is what the government initiated, generic so you must have Freddie Mac or Fannie May as your investor. They will expire soon so you should take advantage of it. You are welcome to contact me I work there 😉 Know better? Leave your own answer in the comments! Question by Jozeph: Who is liable on the check and why? Nina is an administrative assistant with Open Source Corporation, ailment but has no authority to sign Open Source checks. Nina orders merchandise from Pleasant Retail Company delivered to her home and pays with an Open Source check, dosage signing “Open Source Corp. by Nina, admin assist.” Pleasant does not know that Nina has no authority to sign the check. Best answer: Answer by mbrcatzNina. She committed embezzlement, by doing that. Open Source needs to file a police report, fire her, press charges, and send her to jail, and get restitution. Meanwhile, they can TRY to put a stop payment on the check, if it hasn’t cleared yet. If it already cleared, they’ll have to get “restitution” from Nina through the courts. And in the future, they need to keep their checks locked up so unauthorized people don’t have access to them. Know better? Leave your own answer in the comments! Question by gracie: Should I use a mortgage broker or do my own shopping at local banks? I am going to be getting an FHA loan for around 160, viagra 000 and have excellent credit. I currently have all my information from one bank. My next step is do I consult a mortgage broker or shop around for rates at other banks? Thanks Best answer: Answer by I Buy And Sell HousesYou can do it either way. I’d suggest a good mortgage broker, viagra since he/she will have access to multiple programs. Ask your Realtor for some recommendations. The Realtor has a vested interest in it–not that he/she will receive a commission from the broker–but rather that a good lender works hard to make sure the loan goes through, visit thus ensuring the Realtor’s commission. Your Realtor will also know, from reputation and personal experience, who the good brokers are and who the not-so-good ones are. Hope that helps. Give your answer to this question...
Read MoreWhat if your mortgage broker lied about your income and you were not aware?
by Vietnam Plants & America plants Question by jellofosho: how likely would you be audited if you apply for a low doc loan? in todays market (july 2008) what percentage of low doc loans are audited? Best answer: Answer by Bridget HAudited by who? I am assuming low doc means low loan amout also. Regulators? Not very likely. Internal audit? Probably just as likely as any other. What do you think? Answer below! Arkansas HARP Refinancing Specialist Uses New HARP 2.0 Program to Help … North Little Rock, ambulance AR — (SBWIRE) — 12/05/2012 — In October 2011, case Fannie Mae and Freddie Mac along with the Federal Housing Finance Agency (FHFA) announced modifications to the Home Affordable Refinance Program to make it easier for lenders to … If you would like more informaiton please visit here… Another Asterisk for Asset Purchases The federal government encourages mortgage companies to refinance borrowers whose debts exceed 80 percent of the value of their homes by instructing Fannie Mae and Freddie Mac to buy the new loans and to relax some of their usual conditions and … For more informaiton please visit here… Foreclosure Assistance Ads Unveiled Federal officials are launching a new ad campaign to raise awareness of the assistance that may be available to financially stressed homeowners through the Making Home Affordable Program (MHA). The Treasury … MHA has two major components, the Home … If you would like more informaiton please visit here… Question by Jackie N: Can I use a second mortgage to finance a new mortgage in California? My husband and I are considering taking out a small second (approx $ 10, ambulance 000) on our condo to pay the 3% downpayment required for a second home. We plan on using the FHA loan. Are we able to do this? We live in California, and lending rules are becoming very strict. Thank you in advance. Best answer: Answer by Dale HYou cannot use the FHA programs to finance a 2nd home purchase. If what you meant is that you are taking a 2nd mortgage against a condo you own to buy a new home in California to use as your primary residence, that should be okay provided you don’t have an FHA loan on your condo. Good luck and you are right. The whole landscape of lending has changed. Let me know if you have any other questions. Add your own answer in the comments! by Tomathon Question by logank1469: How low do you think mortgage rates will fall in the next 6 to 8 months? I live in Raleigh, cure NC . I’m wanting to buy a house some time this summer. I have a FICO score of 700+. I’m looking for 170K to 200K house with a 5% downpayment. what kind of interest rate can I expect for a standard 30 year fixed mortgage? Best answer: Answer by Thomas HThe mortgage rates right now are 5.63% for a 30-year fixed and 5.08% for a 15-year fixed. There is really no way of knowing if the rates will continue to fall. They can change daily! However, viagra you may be able to get more for your money. Raleigh/Cary had an increase of 122% of foreclosures last year. There are going to be more people looking to sell quickly, which is good news to the buyer! Give your answer to this question below! by marsmet462 Question by parker_sellers: Can I get a home loan with short-term W2 income from various companies? My fiance and I are trying to get pre-approved for a home loan, dosage and the...
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Question by pokeylilturtle: How can I find a mortgage broker in Florida that deals with FHA constuction or rehab loans? I want to make an offer on a property in Florida but would like to be pre-qualified first. It has a mobile home on it and I don’t know if I will need a construction loan or rehab loan? What’s the best way for me to proceed? Best answer: Answer by Gerald SContact a local real estate broker in the area. They will know who deals with the FHA. Know better? Leave your own answer in the comments! A handful of good large house photos I identified: Construction and Expansion at the Large Property (University of Michigan, viagra 60mg Ann Arbor) Image by cseeman A lot more excellent homes click here… Construction and Expansion at the Huge Home (University of Michigan, check Ann Arbor) Image by cseeman If you would like to see more houses click right here… Construction and Expansion at the Big Property (University of Michigan, cure Ann Arbor) Image by cseeman If you would like to see a lot more homes click right here… Comstock Mortgage, more about a California Banker and Lender, Establishes New Net … Consequently demand and interest for the Streamline Refinance has improved significantly for Mortgage Brokers across the Country. “We started to see an influx of inquiries from FHA Streamline applicants around the starting of the year," mentioned Russ Moen … If you would like far more informaiton please pay a visit to...
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