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How the Economic Stimulus Package Places the Burden upon the American People - 02/18/08 03:54 PM
Is the US economy in trouble? If it is how long will the crisis last? Will the elected representatives and traditional news media tell the American people the truth or hide the true facts? These are all the questions the American public wants answered and has the right to know.
Unfortunately, it is not being discussed openly and reported upon in the media in a transparent manner. The media conglomerates are parts of huge publicly traded companies whose sole purpose is to increase stock value for their shareholders. So if they start reporting on the true State of the American … (0 comments)
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How the Current US Economy Parallels Past Financial Crises - 02/18/08 03:39 PM
Is the US economy in trouble? If it is what can be the extent of the damage? What is unique about the subprime mortgage crisis? Will the elected representatives and traditional media tell the American people the truth or hide the true facts?
Recently, I found an interesting paper titled, Is the 2007 U.S. Sub-Prime Financial Crisis So Different? by Carmen Reinhart of the University of Maryland and Kenneth Rogoff of Harvard University.
The authors draw parallels between the current US economic issues with five previous financial woes. These five past crises lasted longer than anyone had anticipated. The nations … (0 comments)
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What Are Conventional Loans - 02/05/08 03:54 PM
By, Gaurav Bhola, MSM
The federal government is the major driver of the idea of home ownership. Hence, it has become the biggest player in the residential mortgage market. Approximately one out five residential loans are either guaranteed or insured or by a federal agency. These types of loans are called government loans. The other 80 percent of residential mortgage loans are called conventional loans.
A Conventional mortgage must meet the underlying funding terms and other limits of Freddie Mac and Fannie Mae. For home properties in some states and U.S. territories such as Alaska, Hawaii, Guam, and the U.S. Virgin Islands, … (1 comments)
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What Are Government Loans? - 02/05/08 03:52 PM
By, Gaurav Bhola, MSM
Government loans are mortgage loans that are insured or guaranteed by the federal government. These loans are designed to aid home buyers who meet mortgage criterion that allow them to get into a home either with a lower down payment , a lower interest rate and/or with a lower credit rating.
In many instances consumers seek government loans because they do not qualify for a conventional loan.A conventional loan is simply any loan that is not a VA loan, FHA loan, RHS loan, state or local government loan.
The following three federal agencies provide government loans. Also, the homes … (0 comments)
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What are Hybrid Loans - 02/05/08 03:49 PM
By, Gaurav Bhola, MSM A hybrid mortgage loan has combined features of fixed rate mortgage and adjustable rate mortgages. A hybrid loan is also known as a fixed-period ARM. A hybrid loan initially begins with a fixed period of a fixed interest rate (typically 3, 5, 7 or 10 years). The hybrid mortgage then converts to an adjustable-rate mortgage. It is a wonderful combination of the best features of a fixed rate and adjustable rate mortgage. This combination gives you an initial interest rate during the fixed period of the loan that is lower than a traditional fixed rate mortgage.
Generally, a … (3 comments)
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Mortgage Applications Jump With Falling Interest Rates - 02/05/08 03:47 PM
By, Gaurav Bhola, MSM
The commercial real estate market has been doing extremely well for the last few years. However, its cousin the residential real estate market needs to take advantage of various opportunities for improvement. The housing and mortgage markets have been seeking to return to hey days of the recent past when home sellers couldn't keep pace with demand.
It is the demand for housing has slowed appreciably. Additionally subprime mortgages and foreclosures have raised concerns amongst the policy makers and Wall Street. Before it was a sellers markets, as buyers lined up to bid for houses; now the roles … (0 comments)
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What Is An Interest Only Mortgage - 02/05/08 03:45 PM
By, Gaurav Bhola, MSM
An interest only mortgage has scheduled monthly mortgage payments consisting of interest only. Generally, the length of the interest mortgage payments last for a period of 5 to 10 years. If you pay only interest during this period your proceeding balance will remain unchanged. However, you may choose to pay more than the minimum interest payment every month.
An interest-only home loan represents a higher risk for lenders; hence, your mortgage loan will have a somewhat higher interest rate. If you expect a substantial increase in income in the forthcoming years the interest only mortgage loan gives you … (0 comments)
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What Is 100% Financing Mortgage Loan? - 02/05/08 03:44 PM
By, Gaurav Bhola, MSM
The mortgage industry has worked diligently to find loan solutions for home buyers who wish to purchase a home without a down payment. The industry wants not only to increase home ownership in the U.S., but also target a growing untapped market of consumers who desire home loan solutions that require no down payment. This type of "zero down" mortgage is popularly known as 100% financing.
It is essential to understand that the term, "100% financing," does not automatically signify higher interest rates. Actually, if your credit is good, you are eligible for equivalent rates that are applicable … (0 comments)
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What Are Subprime Mortgages? - 02/05/08 03:41 PM
By, Gaurav Bhola, MSM
Subprime mortgages are mortgage loans meant to help borrowers who are unable to qualify for traditional mortgages that require good to excellent credit histories. Due to the fact of higher risk of default inherent in subprime mortgage lending, subprime borrowers receive higher interest rates on their mortgage loans than their traditional counterparts. The subprime mortgage loan terms may also include additional regular fees, or up-front charges.
As defined by the U.S. Department of Treasury guidelines issued in 2001, subprime borrowers usually have weakened credit histories that are inclusive of payment delinquencies, problems such as charge-offs bankruptcies, and/or judgments. … (0 comments)
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Positive Outlook for Commercial Real Estate - 02/05/08 03:39 PM
By, Gaurav Bhola, MSM
The housing and mortgage market have been going through some difficult times in recent months. However, unlike the residential real estate cousin, the commercial real estate market has been doing well.
The construction spending on shopping centers, office buildings, and other nonresidential projects rose by 15.2 percent in August, led by strong growth in retail and office segments. Commercial retail sales jumped to $401 billion from $359 billion last year.
Unlike, residential real estate, where home loan mortgages, such as interest only mortgages, adjustable rate mortgages, and subprime mortgages have been a cause of concern, along with foreclosures; the … (0 comments)
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What is a Second Mortgage - 02/05/08 03:35 PM
By, Gaurav Bhola, MSM
A second mortgage is a secured mortgage loan which is secondary to another loan against the same asset. In the real estate arena, a singular property can have numerous loans against it. The mortgage loan that is duly registered foremost with the proper state, city or county agency is classified as the first mortgage. Hence, the mortgage loan registered second is classified the second mortgage, a third loan against the same property is considered a third mortgage, and so on. So the same property can have multiple mortgage loans.
A second home mortgage loan is also called a … (0 comments)
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Top Six Reasons to Do a Mortgage Refinance - 02/05/08 03:27 PM
By, Gaurav Bhola, MSM
There are several reasons to do a mortgage refinance. Here are the top six reasons to refinance:
1. Lower Your Monthly Payment
Have you ever asked yourself if you could lower your monthly payment? Work with a personal Mortgage Consultant to customize a refinancing solution to meet your specific loan needs.
Refinancing to a lower interest rate means more cash for youEnjoy more options with money you save every month due to lower monthly paymentPay off your loan faster if you choose to by paying a little more every month on your mortgage from the extra money you save from … (0 comments)
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Useful Tips on Buying a Home - 02/05/08 03:25 PM
By, Gaurav Bhola, MSM
Home buying is one of the most important financial decisions you can make. With the proper resources, home buying can be an easier process. Let's learn the basics of home buying in seven easy steps.
Step 1: Identify My Home Needs
List in order of priority the features and options you would like in your next home Discover what these features would add onto the cost of your home Narrow down your choices based on the reasons why you want to include them in your next home Narrow the options even further within the spectrum of your budget Weigh … (0 comments)
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Home Loan Finance And Mortgage Refinance Options - 02/05/08 03:20 PM
By, Gaurav Bhola, MSM
After buying your home it is now time to find the perfect mortgage financing. Make sure you consult an expert Mortgage Consultant in terms of financing that fits your needs. There are many choices available to you for home loan finance and mortgage refinance. But it is critical that you take your time to understand the various choices before making a final decision. Here are some home financing options:
· Fixed-Rate Mortgages
· Adjustable Rate Mortgage(ARM)
· Interest-Only Mortgage Loans
· Conforming Loans
· Jumbo Loans
· Subprime Mortgages
· Hybrid Mortgage Loans
· 100% Financing
· Conventional Loans
· Government Loans
Refinance for My Current Home
If … (1 comments)
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Sell Your Home Fast By Using These Tips - 02/05/08 03:14 PM
By, Gaurav Bhola, MSM
It is time to make a move and you need to sell your home fast. Use the following strategies to sell your home quickly:
Step 1: My Marketing Strategy
When selling your home, how do you want to distinguish your home from the rest of the flock? How serious and dedicated are you in doing what it takes to sell your house before your neighbor sells his?
There are several steps you can take to speed up the home selling process:
· Have a marketing plan, nothing complex but come up with something that reflects some effort on your part.
· Separate yourself … (1 comments)
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Gaurav Bhola
Orlando,
FL
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