mortgage refinance: Federal Government Proposes to Create new Bad Debt Holding Company - 09/18/08 04:17 PM
Dow Jones industrials went up 400 points today following a report that the federal government may create an entity to absorb banks' bad debt.
It's reported that Treasury Secretary Henry Paulson is considering the formation of a vehicle like the Resolution Trust Corp. that was set up during the savings and loan crisis of the late 1980s and early 1990s.
"It's going to take a lot of the bad debt off the balance sheets of these companies," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, commenting on the possibilities of an entity akin to the … (0 comments)
|
mortgage refinance: Skipping mortgage payments during your refinance - 08/12/07 12:47 PM
"You won't have to make this month's payment and you won't have to make a payment for the next 2 months." How many have heard this closing pitch when speaking with a mortgage lender?
There is no free lunch regarding mortgage interest. Your current mortgage provider will supply a payoff letter in substitution of the last month's payment (depending on when your closing is scheduled) and that payoff amount will include your "per diem" interest expense for every day till closing.
Failing to make the current month's mortgage payment when due can be dangerous. If your closing is delayed or doesn't … (1 comments)
|
mortgage refinance: Mortgage Prepay Penalties can be Hard or Soft - 08/05/07 10:57 AM
Hard Prepays mean that selling or refinaning your property before the prepay period ends will trigger the prepayment penalty.
Soft Prepays mean you may sell the property but not refinance before the prepay period ends without a penalty.
Prepay penalties reward borrowers with rate discounts for keeping their mortgage an agreed minimum time period. They also penalize borrowers who fail to honor their commitment.
If you have a high degree of certainty you will remain in the same home/loan for the minimum time period, prepays can help you save money by discounting your mortgage rate. If your job or finances are less certain prepays … (7 comments)
|
mortgage refinance: All Mortgage Rates Are NOT Created Equal - 07/18/07 07:53 PM
Allow me to be your trusted advisor and you will fully undersand the loan options prepared for your consideration.
Greg Zaccagni @ http://www.mortgageadvisor.info/
… (0 comments)
|
|
|
|
;)
;)
