illinois mortgage lenders: Predicting Mortgage Rates - 02/13/08 03:43 PM
The following is an excerpt from a recent email sent to a client.  Hoping others find this helpful...
 It's very hard to say what the mortgage rate is going to do but here are some general observations.Inflation often leads to higher interest rates which generally lowers demand for stocks because businesses are … (0 comments)

illinois mortgage lenders: What caused the subprime meltdown? - 10/20/07 03:00 PM
After creating a market that allowed almost anyone to qualify for a loan the secondary market (mortgage investors) suddenly stopped buying loan types that didn't perform as predicted.   
Investors also exercised their contractual right to force originators to buy back defaulting loans resulting in many loan originators going out of business.
Investors … (0 comments)

illinois mortgage lenders: Subprime Mortgages Defined - 09/16/07 08:58 AM
We hear the term nearly every day.  What does "subprime" really mean?  Greg Z @ http://www.mortgageadvisor.info/
Subprime mortgages
As with subprime lending in general, subprime mortgages are usually defined by the type of consumer to which they are made available. According to the U.S. Department of Treasury guidelines issued in 2001, … (0 comments)

illinois mortgage lenders: What's Your Rate? - 09/13/07 07:26 AM
With all mortgage ads it's easy to see why some think mortgage rates are an off the shelf item.  Truth is they are more like life & health insurance quotes - subject to your personal situation.
Just as an insurance agents ask height, weight, family health history etc... a meaningful mortgage rate requires its … (5 comments)

illinois mortgage lenders: Do credit pulls affect my FICO score? - 09/03/07 07:37 AM
Mortgage lenders are asked this question all the time.  I send inquiries directly to the source for an unbiased answer.  According to the Fair Isaac Corporation (FICO) same "type" inquiries made within a 30 day period will be treated as a single credit pull as it is apparent you are shopping … (3 comments)

illinois mortgage lenders: Avoiding Foreclosure - 08/31/07 11:27 PM
This is the legal means a mortgage company may use to repossess their collateral, your home should you default on making timely payments. If the property is sold for less than the total amount owed on the mortgage loan, the mortgage company or HUD could seek a deficiency judgment against you. … (1 comments)

 
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