LEASE SBLC, BG, MTN LEASE BANK INSTRUMENTS AND SECURITIES

SBLC Financing can offer individuals and corporations Leased Instruments. Leased Instruments can be obtained at minimal expense to the borrower compared to other banking options.

The Leased Instruments includes: BG's, Insurance Guarantees, MTN, (SBLC) Standby Letters of Credit and Third Party Guarantees such as a standby forward commitment to purchase or a standby loan.

If you are a potential Investor or Principle looking to raise capital, we will be happy to answer any questions that you have about this opportunity and to provide you with all the details regarding this services.

SBLC Financing can help you get your project funded, by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers. You will work with your bank to ensure that the leased instruments will be returned to them before the maturity date. This Instrument can be monetized on your behalf for Trade in PPP.

Please contact:

The SBLC Financing Team
sblcfinancingteam@gmail.com 

or on the net at:http://www.sblcfinancing.com/sblcfinancing.lease.sblc.bg.mtn.bank.instrument.html

If you are looking to purchase a SBLC, LC, BG, MTN, CD, Bond or Credit line talk to me. If you are looking for a Trade Desk to Trade these instruments and they are NOT leased, talk to me.

BUYERS, if you are looking for TRUE MARKET value per day, we have the ability to cause introduction to BANK in US and Europe. We can fund in 3-5 days after receiving all the right documentation.

If you are the Buyer or Bonded Mandate for Buyer, please email me your request. We have the ability to cause introduction to Seller. NO BROKER CHAINS PERIOD. We bring buyers to this seller the same day. We are the real deal!

After introduction you can receive predetermined discount offers to pick from on occasion, but offers go quick, so first come first serve on these offers.

We also offer Asset Based Collateral Trade Programs.

Our Hybrid Trade Funding can self-fund your project where others fail.

Show us cash, real estate, investor capital or an instrument like a SBLC from a (AA) or (AAA) rated bank that can be verified and we can become very creative and can move quickly.

We like to see 10% of the projects funding request. If you do not have that amount available, but you can raise $6 million minimum, we can still look at getting your project funded. Utilizing an SBLC and a Trade Desk could increase your money substantially every 4 weeks. It is as simple, the more you have to invest, the faster the funding process.

You can utilize an additional strategy with this Trade Desk and use some of these proceeds to pay off the existing debt on the projects real estate. Or if you are holding Free and clear Real Estate and can get an MIA certified appraisal, you can generate cash flow.

The real estate will go in a Land Trust structure for 5 years and allow you to gain additional credit by issuance of a Trust Note and placement with the Trade Desk. They offer a method where you will leverage your investment dollars to make money. There are no fees attached to our program, and there is no loan to pay back. Within a short period of time you will actually self-fund your project.

Last is the DOUBLE UP PROGRAM.

Minimum investment is 6mm. We set up escrow account with your name on account so your money is secure. We drew line of credit off it and trade. The double up program will payout ever 7-9 weeks.

For more information visit http://www.sblcfinancing.com or email me your request at sblcfinancing@gmail.com

LEGAL/PENALTY NOTICE!
This blog page is not intended as a solicitation to customers in any jurisdiction in which we are not authorized to operate. We are not Certified Financial Advisors, Securities Brokers or Stock Brokers. We are business consultants and intermediaries who provide advice to private individuals on or about business matters. The information presented is not in anyway considered or intended to be a solicitation of funds and is intended only as general knowledge. Please understand that the contemplated transaction(s) is strictly private and in no way relates to the United States securities act of 1933 (THE"ACT")  or related regulations and does not involve the sale of registered securities. This transaction(s) are private and exempt from the act. Please be aware that any disclosure, photo copying, distribution or use of the contents of this information is prohibited.

SBLC Financing will offer Funding on just about any project of $150 million or more with NO DEBT, NO FEES, and NO PAYBACK.

SBLC Financing needs projects to invest in. That's where you come in. We work with Principle Partner(s) and or the Developers and some Brokers. We will provide you with the SBLC Financing you need for your project. Or we will find a Non-Conventional outlet to get the job done.

Here is an example of how the SBLC Funding works for you:

You, the Principle Partner(s) or the Developer needs $150 million for a project. You would get the full $150 million and only be responsible for 30% of the equity projection from the companies Pro Forma. This type of funding is through our SBLC Financing Platform Program. This Platform looks at the project to see if it makes sense. If it makes sense it gets done. The 30% would be from the projected total of the project (ex. 250 mil total, 250 mil x .30 =75 mil total responsible for even though you received 150 mil. This gives you an additional 75m profit).

One thing you need to know about this type of Platform Trade Group is that 1 out of 20 deals get approved. If the project is not tight and right your better off playing the lottery or finding an Angel Investor to get your project funded.

With that being said, don't give up this type of funding for your Project just yet.

The SBLC Financing Team has two programs that will get you the funding you need.

Take a look: http://www.sblcfinancing.com

We Underwrite Direct for our Private Lenders Nationwide. We arrange private money loans for Raw Land, Bridge Loans, industrial properties, unusual properties and more. If you are looking for private money, our funding time averages 45 days. Our program consists of "Hybrid Lenders". This term refers to providing private money at bank interest rates or better. Complicated lending is our specialty. We fund private money loans from $1Million to $1Billion. The documentation needed is typically swift and uncomplicated. Our Private money loans are generally interest-only loans.

It's easy to qualify! We focus mostly on Asset Based and collateral value of the real estate. We are very creative and can move quickly. Additionally, we will work with All brokers. Our Hybrid funding can fund deals others cannot. If you are a broker with deals you cannot place and need help, please contact us directly for details on our private money co-broker and referral programs.

Our approval process is simple and in most case depending on the program, we can provide a preliminary approval the same business day.

Our program consists of "Hybrid Lenders". This term refers to providing private money at bank interest rates or better. Complicated lending is our specialty. We fund private money loans from $1Million to $1Billion. The documentation needed is typically swift and uncomplicated. We can finance commercial, developer lots, raw land, unimproved & improved property of all types and land purchases. Private money loans are generally interest-only loans.

It's easy to qualify for a commercial hard money loan! We focus mostly on collateral value and the fundamental value of the real estate. We are very creative and can move quickly. Additionally, we do work with brokers. Our Hybrid funding can fund deals others cannot. If you are a broker with deals you cannot place, please contact us directly for details on our private money co-broker and referral programs.

Our approval process is simple and in most case depending on the program, we can provide a preliminary approval the same business day.

Loans in our Finance Suite are typically for loans under 2 million.

There are 4 basic loan programs which a client may fall under and they are outlined as follows:

Conventional/Hybrid Lending Rate- Usually the credit worthiness and overall financial strength of the client either meets or exceeds standard guidelines. Rates could very between 6%-8% interest only for 12-36 months in most cases.

Private Lending Rate- Usually the overall strength of the client is less then satisfactory for the lender to commit to a favorable interest rate, but the feasibility of the deal is very strong. Rates for this type financing may very from 9%-16% interest only for a period of 12 months.

Subsidized Security Lending Rate- Usually the security is lacking in value and therefore it is necessary to provide leverage in the form of bank guarantees to make up the difference in security and provide for a more collateralized value loan. Rates for this type of financing can very from 7%- 16% depending upon other strength factors.

Our team of Direct Funders is made up of Private Financers who are called "Hybrid Lenders". This term refers to providing private money at bank interest rates or better. Underwritings primary objective is to group their lenders based upon the strength of the deal they are underwriting, the lender will then dictate their individual terms to the client in the form of the term sheet, and or commitment agreement. Interest rates will often very depending on credit worthiness, financial strength, and overall experience level of the client. Other factors which may determine rate variances could be market conditions, cash to value and collateral strength. With Hybrid Lending, interest rates may meet or exceed expectations to the more favorable conventional rates; however private lenders make their money with the finance fees they charge.

In all cases the base finance fees for Hybrid Lending is going to be between 6% to 8% of the base loan amount.

Upon satisfaction and agreement of all conditions' our underwritings staff will begin the process to make the determination of how best to fit your financial needs with our programs described briefly above. In order to avoid any time delays or impair the underwriting process, all documents requested should be sent in a timely manner. All underwriting is given the same amount of priority the moment the last document requested is received. To insure thoroughness in the process we allow for up to 45 days before final determination of a loan. This time cycle begins the moment underwriting has received the final requested documents. Once approved, our designated team of Direct Funders shall issue its final and firm Commitment with a Term Sheet or Conditional Commitment.

It will be necessary for our underwriters to speak directly with the client during the underwriting process. This initial contact will generally occur 48-72 hours after the underwriting process has begun, at which time the client and underwriter may wish to go over the deal and field any questions they have for each other.

Our 4th Program is to send your deal to our Finance Suite and get multiple offers. This is typically for loans under 2 million.

Michigan & Detroit Investment Rehab Loans
Up to 75% of After Repair Value! Rates as Low as 8%
Flat $4500 Fee Covers ALL Costs

► 100% of Purchase & Improvements
► Interest Rebates for Early Payoff
► 12 Month Term - IO Payments
► 1-4 Family Primary or Investment
► Michigan Only - Detroit OK
► No Seasoning of Reserves
► Flexible Draw Schedule
► NO Appraisal Required
►Down to 580 FICO with Compensating Factors
► Must be MI Resident
► Stated Income or SE OK with Assets/Reserves

If the deal makes sense, we'll get it done!

A hard money or rehab loan is a short term, high interest loan that offers you the opportunity to buy a house with no money out of your pocket. We loan up to 75% of the ARV. We give an appraiser the list of repairs (if any) that need to be done to the house and he gives us the value based on those items being complete. We loan the money to buy the house, the money to repair the house and the closing costs up to 75% of the ARV. The repair funds are kept in the lenders account and released to the borrowers in draws. From the time of the request, we send our inspector out to make sure the work is completed satisfactorily.

This means you can begin the refinance process the day the work is complete or if no work was needed, the day after you purchase the home. Keep in mind that when you refinance, you should limit your LTV to insure a cash flow. We usually recommend no more than 80% LTV. Many Investors who learn about these strategies get very excited and see it as a "get rich quick opportunity" IT IS NOT. It is important to proceed with caution, slowly and with lots of homework. Steady plodding is the key. If you try to fudge and push the formula to the limit, you will likely fail. You can count on more work being needed than you originally planned. Termites will show up even after inspection; HVAC units will be out of order that appear brand new. Believe that unexpected things will occur.

Simple steps to submit your deal:

Broker or client will write a quick summary in simple terms of what the deal is about.

We will need a completed submission form that will be provided when NCND is signed and sent back.

Just Follow These Steps:

► Fill out application 1003
► Tri-Merge Credit Report
► Asset Documentation
► Sales Comps
► Repair Schedule
► Client needs to sign Agreements
► Send us a copy of clients Executive Summary
► Broker needs to sign NCND
► Client needs to sign NCND

With in 24/48 hours you will receive the following documents for final submission, LOI (Letter of Intent)...general terms and conditions, memorandum of conditions for underwriting.

For more information email me: turbocredit@sbcglobal.net

If you are like me you know going up against any big business can be almost impossible, but we need to stop being victims of an unfair and inaccurate credit system that's run by "The Big Three." Look... they hold a monopoly on the whole credit industry and they have to be stopped. So how do we stop them?

First, answer this question for me:

How much is good credit worth to your life?

Do you cringe every time you need credit weather it's a mortgage, credit card, student loan, auto loan knowing you might hear... sorry, but your scores to low. Or... yes we can help, but... the rate is in the double digits and the costs are out of this world. And when you question them, they say: "take it or leave it." Hey... they know they have you over a barrel and you have no other choice.

Now suppose you could apply for a credit card, car loan, student loan or mortgage and you'd have Lenders out right paying you to borrower their money, I mean giving it away for just about free. It's true, it happens everyday. With this incredible information I'm about to share with you, it "will" happen to you.

As you can see... I'm not just another pretty face trying to sell you something. I'm a real credit repair specialist and mortgage banker. I have reviewed hundreds of thousands of credit reports in my career, and in just about every case of bad credit... let's just say I've seen and heard everything.

Here's How The Story Goes... "I was never late on that", "their wrong", "that's not mine", "that was paid for years ago", "that was included in my bankruptcy", "I don't know what that is", and I don't remember... and their stories go on and on...

Listen... we all have a story. Some worse than others but, the fact is they could not buy their dream home, or they could but had to pay a very high interest rate and had to put down a great deal of money.

I was losing business and had to find a way to fix the problem fast. More than that I was losing a lot money and seen a big problem in the industry that needed to be fixed. People much like you were asking for help and no one would help them. Most of the owners of the mortgage companies I've worked for would tell me: "we are not in the credit repair business and not to help people who can't help themselves." They call it pushing the bruise. I called it pushing a bunch of B. S.

So I looked around for years for a way to fix the problem and found it. I hooked up with a private, non-profit, credit restoration company. They provide education and services nationwide. Up to this point they would only work with mortgage companies and Loan Officers to help their borrowers improve their credit scores to buy homes in 60 - 90 days. That's big business people... working as a well oiled machine. Look, it was keeping our economy going for the last 7 - 10 years straight. The one service I used the most with them was their eliminating outstanding debt for 30 cents on the dollar.

At that point in time my purchase and refinance business doubled and is still going strong. I was able to payoff more debt for my borrowers and or help them buy their dream home, and their score went through the roof. And of course borrowers got extremely low fixed rates. After years of doing this I had a thought... what if I had this private, non-profit, credit restoration company help me take their services to the public. Not everyone who has bad credit, needs or wants to buy a home.

But I know this system definitely worked for homebuyers, and their biggest investment in life and probably yours too. Why not allow anyone who needs help get it. And now I have it and want you to know about this credit repair software that will help anyone looking to clean up and fix their credit, get their fresh start for whatever reason. What I'm about to tell you is the truth and is real and best of all... it works. What you are about to find out may even be a little surprising. So let's start from the top.

Remember back ... when you were in school. You were graded by a report card. Boy those were the days... In life though, you're graded by a tax return and now most importantly a credit score.

You can in most cases control your bottom line on your tax return, but your credit score is a mystery to everyone, except to their creators, "The Big Three." They are Experian - formerly TRW, TransUnion and Equifax who are ALL FOR profit companies and are "NOT" government ran agencies. "Surprise"

Their only job is to report what a member or creditor puts on your credit file and then sell your personal information back to these third parties who pays them a fee to be one of their members. Did you catch that last one... they sell your personal information for money! You 'd think if someone was making money off you, you 'd get something in return, but not in this case.

I've talked to thousands of people who went through bankruptcy and they were told by their Attorney that their credit would be taken care of. They were right, but not your credit report. You see, it's your job to clean that up. And what do I hear at that point: "Well, no one told me that." Of course not, they are not paid to. Then why wouldn't the creditor report it. Well, they feel you screwed them and why should they spend another dollar to clean up your credit.

Same is with collections and judgements. Someone has to file a document to put the judgement or collection on your credit report and that same person has to file a release to take it off. Most of the time that don't even happen. Then it's a fight to find that person to get your release. Or they take their sweet ass time doing it for you. That's the truth.

As you might guess, there is really no one policing your personal information... except these big money companies. Doesn't BIG money companies control everything?

Look, mortgage companies, credit card companies, auto loan companies, auto insurance companies, employers and a number of others can get your personal information for a fee.

Again, anyone looking for information on you can pay a fee and get it. Kind of scary, huh?

As long as I've been in this credit business it seems the ones who need the help the most are the ones who are charged the most. You're charged much higher rates, closing costs and fees. Then they hit you with pre-payment penalties. Gosh... they really jam these high fees down your throat, don't they? If you think about it... you're dealing with legal loan sharks at this point.

But there is a little Law called the Fair Credit Reporting Act or (FCRA) that can make "The Big Three" and their information providers i.e.. their members, responsible for correcting inaccurate, incomplete or unverifiable information in your credit report. But with a Population: 300,000,000 in the United States, do you really think their spending the money to do this? "NO", they would go broke. And unless you call them out on it, yours won't either.

So where do you start to put a stop to all this and get control of your credit file?

First, You Have To Know Your Credit Score.

Scores run from 300 and go as high as 850. Anything over 720 is good. Above 800 is great and the world is yours. This is where I was talking about creditors paying you to take their money.

Could you imagine walking into a bank and walking out with cash, just on your name and score alone.

Well, it isn't if you have an incredible credit repair and credit management system.

Think about it... controlling your credit file and achieving a higher credit score is the most powerful tool you could ever learn and earn. Lower rates and low to no closing costs on all your credit needs. Simply put, getting help with bad credit repair now will change your life forever.

Creating This Incredible Credit Repair Software, Was The Hard Part...

We know this business and really know how to make this Law (FCRA) work in your favor, and that my friend is the name of this game. While it could take you years and can cost you a small fortune to figure all this out, we have done all the hard work for you.

Others have falling flat on their face trying to do what we do. But instead of knocking yourself out trying to come up with just the right credit repair system that will work, you can now have it inside credit repair software program called:

At last! Your complete credit repair software is here. You will have higher credit scores, lower rates on all your credit needs and, you will never have to pay high cost and fees again. It's right here... right at your finger tips. Total control over your credit file will be in your hands. You'll have the piece of mind knowing that the information on your credit file will be true and accurate.

I know you're probably still skeptical and a bit on the conservative side, but think about this - if you keep doing the same things over and over again - you'll only succeed in getting the same results. That's why I want to let you try out my proven credit repair software completely and totally risk-free!

Turbo Credit is a software program designed to challenge and dispute any negative items that appear on a credit report. Turbo Credit features the Turbo Dispute Generator which generates dispute documents for Transunion, Experian and Equifax in minutes.

Turbo Credit also includes TurboStop, an interactive software document that will legally stop the harassing and annoying calls from the creditors.

Turbo Credit is the perfect tool for your clients who need to improve their credit score. Whether you only need a couple points to close the deal or over a hundred points, Turbo Credit is designed to engage the client in the process for quick, effective results.

Turbo Credit will help get the most up-to-date and current credit report possible that will also maximize and improve credit scores.

· Empowers American consumers to manage their own credit in the privacy of their own home.

· The Turbo Credit system is a similar system that financial, credit and debt professionals utilize for their professional fee-based services

· Turbo Credit allows American consumers to personally manage their credit just as millions of Americans use software programs to manage their money, budget and personal finances

· Lower interest rates and get approved for home loans, auto loans, credit cards, etc., while getting the accurate credit report they deserve by law

· Challenge and dispute fraudulent and false information

· Improve credit scores by helping to remove inaccurate and erroneous information such as late payments, collections, charge-offs, judgments, inquiries, etc . . .

· Fight identity theft issues that appear on credit reports

· America's #1 Credit Software

· 100% guaranteed with a 30-day money-back guarantee

· Same system used by America's top credit, debt and financial companies

· Easy, user-friendly interface designed for Windows

· TurboDispute Generator generates disputes for Experian, Equifax and Transunion in minutes

· TurboDispute allows you to offer one dispute, three disputes or unlimited disputes to your customers

· TurboStop generates legal "cease and desist" letters for your clients in minutes that will stop the from creditors calling (great value-added service for your clients and new stream of revenue for you)

· Manages and tracks your customer information

· Unlimited disputes for each client, with a five-cycle option

· TurboTips, offer financial and credit tips to your clients to help maintain their improved credit score

· Easy-to-use professional edition downloads in seconds to your desktop and you will be generating credit disputes in minutes.

It's the law! Information must be accurate and verified before it is entered on credit reports!

If "reasonable procedures" have not been correctly followed by creditors or the credit reporting agencies, then any verified inaccuracies must be removed from their credit reports as defined in the Fair Credit Reporting Act (FCRA).

Turbo Credit helps protect American Consumers rights guaranteed by the FCRA.

Folks... we have to stop "The Big Three" and you need to take charge of your credit, it's your personal information, your future and your money. Just think! You'll never again suffer through the pain and hassle of hearing, "sorry, but your credit score is just to low..." ever again.

For more information on this software go to: http://www.creditrepairturbocredit.com

I'm given away my book: "How To Get A Low Fixed Rate Mortgage After Credit Repair... That's Not Based On A FICO Score" Just go to my website: http://www.creditrepairturbocredit.com/ and download the ebook for free today.

The reason I'm doing this is because this mortgage business is so upside down due to the sub-prime mortgage mess that someone needs to offer some help. I hope this book will help you save some money and give you an edge up on these so called Lender/Brokers out there.

As you may know, TurboCredit introduced new software that offers the quickest, easiest way to manage and improve credit from the privacy of your own home.

Turbo Credit originally cost $99.95 and come with a 30-day money-back guarantee.

Now, you can get America's #1 credit repair software for just $39.95, and it still comes with a 30-day money guarantee.

Turbo Credit is a credit repair software program designed to challenge and dispute any negative items that appear on a credit report. Turbo Credit features the Turbo Dispute Generator which generates dispute documents for Transunion, Experian and Equifax in minutes.

Turbo Credit is the perfect tool for those who need to improve their credit score. Whether you only need a couple points or over a hundred points, Turbo Credit is designed to engage the consumer in the process for quick, effective results.

Turbo Credit will help get the most up-to-date and current credit report possible that will also maximize and improve credit scores.

The Turbo Credit Advantage:

- Empowers American consumers to manage their own credit in the privacy of their own home.

- The Turbo Credit system is a similar system that financial, credit and debt professionals utilize for their professional fee-based services

- Turbo Credit allows American consumers to personally manage their credit just as millions of Americans use software programs to manage their money, budget and personal finances

Turbo Credit provides the tools that can help consumers:

- Lower interest rates and get approved for home loans, auto loans, credit cards, etc., while getting the accurate credit report they deserve by law

- Challenge and dispute fraudulent and false information

- Improve credit scores by helping to remove inaccurate and erroneous information such as late payments, collections, charge-offs, judgments, inquiries, etc . . .

- Fight identity theft issues that appear on credit reports

Turbo Credit helps the law work for you!

- It's the law! Information must be accurate and verified before it is entered on credit reports!

- If "reasonable procedures" have not been correctly followed by creditors or the credit reporting agencies, then any verified inaccuracies must be removed from their credit reports as defined in the Fair Credit Reporting Act (FCRA).

- Turbo Credit helps protect American Consumers rights guaranteed by the FCRA.

To learn more about TurboCredit please log on my website at:

http://www.creditrepairturbocredit.com

Thanks,

Michael R. Lamerson

P.S. Please act quickly, I have some great Fast Action Bonuses on my site and these are Limited Time Offers, but well worth the price of America's #1 credit repair software.

Dear Mortgage and Real Estate Professionals:

Start your own credit restoration business today with TurboCredit Professional Edition! For the 
price of credit repair, why not start your own credit business? The cost is less than $20 per customer.

It's fast and easy with unlimited income potential.

Whether you are looking to start your own Credit Restoration Business or add Credit Restoration 
as value-added service, TurboCredit has the solution with TurboCredit Professional Edition.

You simply download our Professional Credit Restoration software and you are able to generate your 
own disputes in minutes.

Don't wait! Credit restoration is one of the fastest-growing and profitable businesses for financial professionals.

What is your loan processor doing right now? If they are idle, start them processing credit restoration 
and generate unlimited revenue while building your loan pipeline.

Dig up those old leads and turn them into Buyers, Borrowers or Real Estate Investors today!

Holiday Special!

$499 gets you the software and includes 25 customer activation codes(A $2,500.00 value!) 
That less than $20 a client.

Why TurboCredit Professional Edtion: 

* America's #1 Credit Repair Software

* 100% guaranteed with a 30-day money-back guarantee

* Same system used by America's top credit, debt and financial companies

* Easy, user-friendly interface designed for Windows

* TurboDispute Generator generates disputes for Experian, Equifax and Transunion in minutes

* TurboDispute allows you to offer one dispute, three disputes or unlimited disputes to your customers

* TurboStop generates legal "cease and desist" letters for your clients in minutes that will stop the 
from creditors calling (great value-added service for your cleints)

* Monitors and tracks your customer information

* Unlimited disputes for each client, with a five cycle option

* TurboTips, offer financial and credit tips to your clients to help maintain their improved credit score

* Easy-to-use professional edition downloads in seconds to your desktop and you will be generating 
credit disputes in minutes

To start your own credit restoration business today! 
Email Michael R. Lamerson at: turbocredit@sbcglobal.net
View my site at: http://www.creditrepairturbocredit.com

Attention: Adjustable Rate Mortgage Holders...

The United States Department of Housing and Urban Development (HUD) announces via Mortgagee Letter 2007-11, The FHASecure Initiative and Guidance on Appraisal Practices in Declining Markets, a Federal Housing Administration (FHA) initiative that will enable homeowners to refinance various types of adjustment rate mortgages (ARMs) that have recently reset.

This initiative allows lenders and homeowners to refinance mortgages that, due to increased mortgage payment following the reset, have become delinquent and reiterates guidance about making objective decisions regarding the underlying collateral in declining markets.

This program was also put into play to help those homeowners who were led to believe a Sub-Prime adjustable rate mortgage was their best option.

This initiative is designed to permit homeowners, who previous to the reset or adjustment of their ARM loan, demonstrated an ability to meet their mortgage obligations, an opportunity to refinance into a prime-rate FHA-insured mortgage.

In some cases, homeowners may be permitted to include past due mortgage payments into the new FHA loan amount, subject to existing geographical mortgage limits and maximum loan-to value limits.

To see your State maximum mortgage values go to: http://entp.hud.gov/idapp/hicostlook.cfm

The true intent of this initiative is to assist those non-FHA borrowers who have been harmed by recent rate adjustments and increased liquidity in the market. Lenders may not solicit borrowers to stop making mortgage payments on the non-FHA ARM loans and refinance under the FHASecure initiative.

If FHA believes such actions were taken, they reserve the right not to insure the loan.

The FHASecure initiative, which is a temporary program designed to provide refinancing opportunities to homeowners and increase liquidity in the market place, is acceptable for Loan Applications signed on or before December 31, 2008.

Eligibility Criteria of the FHASecure Refinance Option

The mortgage being refinanced must be a non-FHA ARM that has reset. This includes Interest Only ARMs.

The new FHA loan must be a Fixed Rate loan.

The FHA Case Number must be ordered as a regular 203(b) loan using the applicable ADP code based on the property type.

Standard 203(B) guidelines apply including the requirement for UpFront and monthly MIP.

FHA's Rate and Term Refinance option guidelines apply for calculating the maximum mortgage amount, except where the new loan amount may in some cases, include missed mortgage payments.

The borrower's payment history on the non-FHA ARM must show that, prior to the reset of the mortgage, the borrower was current in making the monthly mortgage payments (i.e. the homeowner's mortgage payment history including the six (6) months prior to the reset showed no instances of making mortgage payments outside the month due).

The underwriter must determine that the reset of non-FHA ARM monthly payments caused the borrower's inability to make the monthly payments.

The underwriting review must also determine that the borrower has sufficient income and resources to make the monthly payments on the new FHA insured loan.

If there is sufficient equity in the home, without exceeding the maximum LTV ratio, the new FHA loan may include missed mortgage payments.

Standard maximum LTV ratios apply, based on property state and appraised value

With $7 Billion in adjustable rate mortgages still out in the market, you must take steps now to secure your Fixed Rate loan before the program expires.

TurboCredit® is here to help. We have the best FHA Lenders lined up to help you get out of your sub-prime mortgage and on your way to a low-fixed rate mortgage.

· NO CREDIT SCORES NEEDED
· LOW FIXED RATE
· NO PRE-PAYMENT PENALTY
· ESCROW YOUR TAXES & INSURANCE
· TWO YEAR OUT OF A CH 7 BANKRUPTCY, OK
· ONE YEAR IN A CH 13 BANKRUPTCY, OK
· ONE YEAR IN CREDIT COUNSELING, OK
· IN-HOUSE UNDERWRITING
· CASH OUT FOR ANY REASON
· PAYOFF 1ST & 2ND MORTGAGE
· CONSOLIDATE DEBT
· FREE CREDIT & INCOME ANALYSIS
· SOLVE CREDIT PROBLEMS

This FHA program is not based on credit score and is backed by the U.S. Government. Most Banks and Lenders can help with these loans who are FHA approved through HUD. But you can apply now at my website: http://www.creditrepairturbocredit.com/bad.credit.mortgage.html and start the process today.

It's true... just 12 months of timely payments, will guarantee you a low faxed rate mortgage... and yes, you don't need a Fico® Score to get it. I don't care if your credit scores are in the 400's you can get approved. 

Let me tell you something. Lenders, Brokers, Bankers or any Lending institute out there "Love" people with bad credit. 

Look... they charge you a slightly low introductory adjustable rate, which jumps up 2 to 3 points after their fixed period. They charge these pre-payment penalties that makes them hundred's of thousand's of dollars. They do this just to deter you from refinancing till after their introductory rate moves up. Hey... they make great money off you. They have an old saying, once a sub-prime borrower... always a sub-prime borrower. I think they are full of crap... but who am I? 

Please don't get me wrong, these loans help to a point. If you would need one be glad they are there. Some States will not allow them and those borrowers can't do anything about it. If the borrowers are in a bind, their homes equity is untouchable, due to predatory lending laws restricting these kinds of loans. For others though, these loans are the only way to get their finances back on track. 

I know of a lot of Borrowers that were led to believe that these loans were their only option, because every Mortgage Company they worked with focused on nothing but "The Fico® Score." 

Hopefully if you're reading this, you're going through a credit repair plan. I don't care if it's self-help, credit counseling, credit repair, credit restoration or bankruptcy. As long as you're in one of these programs and have been for the last 12 months or if you are just ending one, this program will help you. 

If you're just starting a credit repair program, you're in luck. Your 12 month wait has started. As you know... the older you get, time flies. So before you know it, your credit will be back on track and this will work for you too. 

Getting A Mortgage With Out A FICO® Score 

People ask me all the time; how can I do loans without FICO scores? Well... this loan is not underwritten with a computer. It's funny, before there were computers people were getting loans, so what happened? Every company out there will deter you from even knowing about this loan... why you might ask? Because they have found ways to use computer programs which are a cheaper to run than employing an underwriter. Or they don't really know what they are doing. 

See... if you manually underwrite a loan the borrower becomes a person. Letters of explanation are read and documentation is underwritten by a real person. Remember a computer can't read a letter and doesn't care if there's an explanation or not. All it cares about is your FICO® Score. Hello... you're a real person, not just a number. 

Look... unless you have a 780 plus FICO score, a decent job with good income and have a lot of money in the bank, you'll end up having to deal with a Loan Officer trying to sell you a sub-prime mortgage. 

What Is A Sub-Prime Mortgage 

It is any loan that is not backed buy Fannie Mae, Freddie Mac or HUD. A sub-prime mortgage is backed by money from non-traditional banks. They usually are two and three year fixed rate mortgages and come with pre-payment penalties.     

Most people are pushed into these loans and find out later hat they have been deceived, and by the time they figure it out... it's too late. They were told to just keep your payment on time for one year and the Lender would refinance them into a better program. Then they call back after a year and hear; sorry your scores are still too low to get the lower fixed rate at this time, and or the Loan Officer you were working with is gone. 

So What Kind Of Loan Can You Get With Out A FICO® Score? 

Well it has a truly impressive array of extra benefits most loans don't offer. All designed for your convenience and security. 

You can get a low 30 year fixed rate mortgage, and you don't have to worry about your credit score because it doesn't matter. You can get an even lower rate on a 1 year or 3 year adjustable rate mortgage that can be locked into a fixed rate anytime after your first 3 payments are made on time. This can help you qualify for a better home or save you money on a monthly basis. This is nice in the beginning in order to get your finances and a household budget in order. And best of all, with out having to re-qualify again, just make your mortgage payments on time and it's yours. 

You get an Escrow Account at no additional charge. Your payment will include your property taxes and homeowners insurance on a monthly basis instead of paying it in one big lump sum 2 or 3 times a year. This is a great benefit to clients because they don't have to worry about sudden payments on these large bills. 

The refinances are FREE. That's right, depending on the market; every three payments you make on time could help you qualify for a free rate reduction. And since there is "No Pre-Payment Penalty" on this loan, you'll keep saving money.  

Here Are A Few Examples Of What Can Be Done With This Loan 

Purchase A Home 

You can purchase a home with as little as 3% down. This is one of the perfect loans for first time homebuyers or existing homeowners. With the market the way it is right now, you can even get the homeowner to cover your down payment, closing cost and escrow account through a grant. 

It's true... you can get Free Down Payment grant money. Through a non-profit organization and with the homeowner's assistance, you can get a home with very little money out of your pocket. Typically just the appraisal, credit report and homeowners insurance are all you'll pay. 

No gimmicks! No Hassles! 

You can join the over 250,000 new homeowners who have used a grant from this non-profit organization to purchase the home of their dreams.  There are no income or credit limitations, and this program is not limited to first time homebuyers. For more information on this service, email me at the address at the end of this book. 

Refinance A Home       

You can pay off a 1st and 2nd mortgage, up to 100% of the homes value. You will get a lower payment 99% of the time with this loan and you get to skip a payment for 30-days. This will help you get ahead of your payments. I recommend taking that payment and opening a bank account for your mortgage and depositing it there. Some Borrower's look at it as free money and Lenders will tell you that. Come on... it's your mortgage payment keep it that way. This way you're always a month a head. Make this a goal and keep adding to the account till you're 6-12 months ahead, just in case.  

Cashing Out 

You can take out 85% - 95% of the value of your home in cash for any reason. You can pay off bills, do home improvements, buy a car, obtain money for college, start a business. Any reason is a good reason. But, any amount above 85% will be credit graded over a 24 month period.  

Payoff A Divorce Like A 2^nd Mortgage 

Most loans out there will limit the amount of cash you receive from the property. The more you borrow the more you pay through the nose because of the higher LTV (loan to value) risk grade. This means the more you borrow on your home vs. the value of the home is riskier to the Lender. With this loan the guidelines will allow the underwriters to look at a divorce settlement as a 2nd mortgage. So this will turn your loan into a rate and term and allow you to finance almost 100% of the homes value to pay off your divorce and still allow you to get a low fixed rate mortgage that's not based on a FICO® Score. 

Past Bankruptcy Or Even If You're In A Bankruptcy You Can Be Approved! When In A Chapter 13 Bankruptcy 

Most people think they can't do anything while they're in a bankruptcy, but the opposite applies. If they have paid on the bankruptcy for 12 months and their payments have been on time, they can get a pre-approval letter to give to their attorney. The attorney can then petition the court and their trustee on their behalf, to request the courts approval. Up to 99% of the time, in my experience the court has let the Borrower proceed with a loan if it is saving them money. If the bankruptcy is discharged and the payments were paid as agreed you should have no problem.  

When Discharged Out Of A Chapter 7 Bankruptcy 

After a chapter 7 bankruptcy most people don't think they are able to buy a home or even refinance a home without getting hit with a high interest rate. They think if they try to purchase a home they'll be stuck paying a big down payment after a Chapter 7 Bankruptcy. With this loan, the guidelines state as long as the bankruptcy has been discharged for at least 24 months but not less then 12 months, and with a very good reason such as a (death or loss of income), can attain this loan if all payments have paid as agreed since the discharge date. That means no more late payments, at all! 

When In Credit Counseling 

These days if you are with a credit management company, most lenders look at it as a form of bankruptcy. It's like a non-legal Chapter 13 Bankruptcy, where you pay someone to handle your bills for you. Most Lenders will want you to cancel your credit counseling plan. Others will turn you away. With this loan though... as long as the payments have been on time for the last 12 months, it will be looked at it as a form of good credit. Just make sure all your creditors are included in the plan before you approach the Lender. 

If You Don't Believe Me, Here Are The Guidelines 

"NO FICO® SCORE GUIDELINES" 

Credit Score: No credit scores are needed, even a credit score under 500 will work! 

Mortgage History: Even though a 12 month clean mortgage history goes a long way in the approval process, you can still be approved with no more then two; 30 day late payments on any mortgage(s) in the last twelve months, but the last 24 months will be considered also. 

Rental History (or land contract): Even though a 12 month clean rent history goes a long way in the approval process, you can still be approved with no more then two; 30 day late payments on any rent payment in the last twelve months. If paid to a management company or apartment complex, a (VOR) verification of rent is acceptable.  If rent is paid to an individual, they must provide 12 months canceled checks or money orders. Cash is not acceptable. 

Installment Debt: No more then three; 30 day late payments in the last twelve months.  If more than that, must have a documented extenuating circumstance to be considered. 

Revolving Debt: Must be current (or paid in full) at closing.  All delinquencies must have acceptable explanations.  

Chapter 7 Bankruptcy: The bankruptcy must be discharged 24 months.  Anything less must have documented extenuating circumstances, such as a death or loss of income. Nothing less than 12 months discharged will be considered and no late payments on anything will be excepted after the bankruptcy discharged date. 

Chapter 13 Bankruptcy: The bankruptcy must include all creditors and have a minimum of 12 monthly payments paid into the planed pay out period with no late payments to the court.  Being that the bankruptcy is not discharged, borrower must have permission from court to enter into a mortgage. This is a great way to secure a low rate while you're in bankruptcy. 

Credit Counseling: Debt management is now looked at as a Chapter 13 Bankruptcy, so same guidelines apply; must have a 12-month payment history with no late payments.  When qualifying for loan; credit counseling payment, not payments on credit report, should be used to calculate debt to income ratios. 

Past Foreclosure: A foreclosure must be 3 years old with a sensible explanation. On a case by case basis; a 2 year old foreclosure can be considered but must have documented extenuating circumstances to be considered. 

Repossession: The repossession must be more then 2 years old with strong explanation.  Must be paid in full or have a written payment arrangement in place with 3 to 6 payments made on time. 

Employment history: Need two full years of employment history.  If borrower(s) are self-employed or a commissioned employees; there must be a two year history - no exceptions.  Overtime can be considered if borrower(s) has received it for the past two years in the same line of work.  All self-employed, commission, and overtime income will be averaged over the most recent 24 months. Part-time income will not be considered unless it's been there for the last 24 months. 

Acceptable properties: 1-4 unit owner occupied properties only. 

These Are Just Guidelines

These guidelines are just guidelines. They're a guide for underwriters to make the credit decision, they're not set in stone. Each Lender or Broker can be flexible one way or the other with them. I've seen the same loan be underwritten different ways by different underwriters. Some will close a blind eye to some stuff and others will nit-pick you to death. That's why it pays to shop. 

Alternative Credit

Some of you may think you have no credit. Well, that is not necessarily the truth in most cases. You have alternative credit. And it can be used in substitution of traditional credit. 

What Is Alternative Credit 

It is any account where you have paid 12 or more on time monthly payments on. These accounts have to be verified by a business or company. If they can't you would need with no exceptions, 12 months canceled checks or money orders to prove the payments have been made on time. Below is a list of what are considered alternative credit sources: 

· Rent Payments

· Land Contract Payments

· Utility Companies, such as:   (Gas, Water, Electric, Phone, Cable or Satellite Dish.)

You will need three of these accounts with one being (RENT) unless the underwriters make an exception. 

If you need to use one of these alternative sources and it is a company you will be asked to get a credit reference letter on their businesses letter head stating you have been on time for the last 12 months. 

Again, any alternative credit can be used if it can be verified by a credit report; credit reference letter or 12 months canceled checks or money orders.    

What You Have Been Reading About Is Simply An FHA Loan.

Since 1934, FHA has been helping people just like you become homeowners. FHA has also been helping people refinance their loans for better rates and terms. You can get an FHA mortgage with little money down, lower fees and easier qualifying requirements. You don't need perfect credit to get approved.   

Take A Closer Look At FHA 

There exists to this day the misconception that FHA is a low-income program. This is not an accurate statement. FHA has no income limitations, and gives mortgage insurance to loans regardless of the amount of income. It is designed more to help those that don't want to put a lot of money down or need to have a lower down payment to get the house they want. This allows borrowers to maximize their equity when it comes to refinancing with less than perfect credit. All other loans are based on your FICO® Score. 

Looking For The Best Mortgage  

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage whether it's a home purchase, a refinancing, or a home equity loan is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs in­volved in obtaining a mort­gage. Shopping, comparing, and negotiating may save you thousands of dollars.  

Obtain Information From Several Lenders Or Brokers  

Home loans are available from several types of Lenders: 

· Thrift Institutions

· Commercial Banks

· Mortgage Compa­nies

· Credit Unions

· Mortgage Brokers

· Mortgage Lenders

· Bank 

Different Lenders may quote you different prices, so you should contact several Lenders to make sure you're getting the best price. You can also get a home loan through a Mortgage Broker.

Brokers arrange transactions rather than lending money directly; in other words, they find a Lender for you. A Broker's access to several lenders can mean a wider selection of loan prod­ucts and terms from which you can choose. Brokers will generally contact several Lenders regarding your appli­cation, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent.  

Consequently, you should consider contacting more than one Broker, just as you should with Banks or Thrift Institutions.  

Whether you are dealing with a Lender or a Broker may not always be clear. Some financial institutions operate as both Lenders and Brokers. And most Brokers advertisements do not use the word "Broker." Therefore, be sure to ask whether a Broker is involved.  

This information is important because Brokers are usually paid a fee for their services that may be separate from and in addition to the Lender's origina­tion or other fees. A Broker's compen­sation may be in the form of "points" paid at closing or as an add-on to your loan. 

I want you to understand something though. Lender's who says they lend their own money can broker your deal and can make backend (YSP) money on the deal and they don't have to disclose it to you at all... where the Broker does. I can argue this till I'm blue in the face but what it comes down to is a Good Faith Estimate from a Broker will show you how much money the Broker is making but you will never know with the Lender because they don't have to disclose it. 

What's Backend Money OR (YSP) Yield Spread Premium 

(YSP) is money paid to the Lender or Broker based on the interest rate they sell to the Borrower. The higher the rate they sell, the more money they make. Take a look at these rates based on a 21 day lock: 

Conventional 30-Yr Fixed

Based on this chart, 6.125% is a par rate. That means that neither the Lender nor Broker is making (YSP) money on you. 

I have always priced my loans to make around 3 points. Either I get them on the front where I charge origination points or back where I collect a (YSP). Here are some examples: 

You call up and ask for a 5.875% rate. I would quote you 4 points. The 3 points I'd make and the 1 point it costs to get that rate. 

You ask for a 6.125%, I'd say 3 points. I don't make anything on the back so I have to charge up front. 

You ask for 6.250%, I'd say 2.5 points. Here I'm making .50 in (YSP). 

If you called me and asked for a no point rate, I'd quote you 6.875% with a .75 of a point charge. And tell you that, this is the closest rate I could get to a no point rate. That would make me -2.25 (YSP) on the loan. So if the loan amount is $100,000.00 and 1 point equals $1000.00 (1% of $100,000.00) I'd make -2.250% or $2250.00 on the close of that loan, and the .75 point or $750.00 I charged you upfront for a total of $3000.00. This is an average spread a Lender will make on a loan. 

Now I don't nor does a Loan Officer receive all that money, unless they run or own the company. Most Loan Officers (like me) are paid a commission. As a Loan Officer we would get 25% to say 50% or more commission depending on how the loan was brought to the company.  

If the company paid advertising money to generate that loan they would want to make more money on that loan. If on the other hand I, arranged the loan on my own and without the companies help they would pay me more. 

This is probably confusing, I understand. My point here is to show you that no matter where you go, whoever you pick, all the answers will be different. Every Loan Officer makes the most they can possibly, some more than others. 

So if I was a Broker and quoted you a rate of 6.875% and was making -2.25% (YSP) and I charged you 2 points upfront, you'd see that money I was making on your Good Faith Estimate at the time of application and HUD 1 Settlement Statement at time of close, were if I was a Lender you'd only see the 2 points I was charging upfront. 

I know this is going to anger all the Lenders and Brokers out there that I told you this, but so what. You need to know what you're dealing with in this business world. 

Obtain All Important Cost Information  

Be sure to obtain information about mortgages from several Lenders or Brokers. Know how much of a down payment you can afford, or the maximum loan to value (LTV) they will go up to based on your credit. You must find out all the costs involved in the loan upfront. Knowing just the amount of the monthly payment or the interest rate is not enough. Ask for information about the same loan amount, loan term, and type of loan so that you can compare the information. The following informa­tion is important to get from each Lender and Broker: 

Rates  

• Ask each Lender and Broker for a list of its current mortgage interest rates and whether the rates being quoted are the lowest for that day or week.  

• Ask whether the rate is fixed or adjustable. Keep in mind that when interest rates for adjustable-rate loans go up, generally so does the monthly payment.  

• If the rate quoted is for an adjustable-rate loan, ask how your rate and loan payment will vary, including whether your loan pay­ment will be reduced when rates go down.  

• Ask about the loan's annual percentage rate (APR). The APR takes into account not only the interest rate but also points, Broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate.

 Points  

• Points are fees paid to the lender or Broker for the loan and are often linked to the interest rate; usually the more points you pay, the lower the rate.  

• Check your local newspaper for information about rates and points currently being offered.  

• Ask for points to be quoted to you as a dollar amount-rather than just as the number of points-so that you will actually know how much you will have to pay.  

Fees  

A home loan often involves many fees, such as loan origination or under­writing fees, broker fees, trans­action, settlement, and closing costs. Every Lender or Broker should be able to give you an estimate of its fees.  

Many of these fees are nego­tiable. Some fees are paid when you apply for a loan such as application and appraisal fees, and others are paid at closing. In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs. "No cost" loans are sometimes available, but they usually involve higher rates.

 • Ask what each fee includes. Several items may be lumped into one fee.  

• Ask for an explanation of any fee you do not understand.

 Down Payments and Private Mortgage Insurance  

At one time you could not buy a home without putting down 20 percent of the home's purchase price as a down payment. However, many lenders now offer loans that require less than 20 percent down, sometimes as little as 3 percent on conventional loans. This takes perfect credit and a lot of money though. 

If a 20 percent down payment is not made, Lenders usually require the home buyer to purchase private mortgage insurance (PMI) to protect the Lender in case the home buyer fails to pay. For years (PMI) has not been tax deductible, but as of 2007 if your income is below $100,000.00 (PMI) is now tax deductible.  

Check around when shopping around for a mortgage and make sure you know how much PMI you'll be paying. Figure you will pay .0078% at 5% down, .0052% at 10% down and .0032% at 15% down on the loan amount. Example: ($100,000.00 at 5% down and a loan amount of $95,000.00 x .0078% = $741.00 /12 months = $61.75 a month to your payment.)  

If PMI is required for your loan ask what the total cost of the insurance will be. Ask how much your monthly payment will be when including the PMI premium. Ask how long you will be required to carry PMI. Most Lenders will drop it at the 78% mark of the original loan amount. You will still want to watch for it though, Lenders are busy and sometimes they may forget to remove it, so just make sure you stay on top of them. 

When government assisted programs such as FHA (Federal Housing Administration), VA (Veterans Administration), or Rural Development Services are available, the down payment requirements may be sub­stantially smaller.  

• Ask about the Lender's requirements for a down payment, including what you need to do to verify that funds for your down payment are available.  

• Ask your Lender about special programs they may offer.  

If PMI Is Required For Your Loan  

• Ask what the total cost of the insurance will be.  

• Ask how much your monthly payment will be when including the PMI premium.  

• Ask how long you will be required to carry PMI.

Obtain the Best Deal That You Can  

Once you know what each lender has to offer, negotiate for the best deal that you can. On any given day, Lenders and Brokers may offer different prices for the same loan terms to different consumers, even if those consumers have the same loan qualifications.

The most likely reason for this difference in price is that Loan Officers and Brokers are often allowed to keep some or all of this difference as extra compensa­tion. Generally, the difference between the lowest available price for a loan product and any higher price that the borrower agrees to pay is an overage.  

When overages occur, they are built into the prices quoted to consumers. They can occur in both fixed and variable-rate loans and can be in the form of points, fees, or the interest rate. Whether quoted to you by a Loan Officer or a Broker, the price of any loan may contain overages.  

Have the Lender or Broker write down all the costs associated with the loan. Then ask if the Lender or Broker will waive or reduce one or more of its fees or agree to a lower rate or fewer points. You'll want to make sure that the Lender or Broker is not agreeing to lower one fee while raising another or to lower the rate while raising points.  

There's no harm in asking Lenders or Brokers if they can give better terms than the original ones they quoted or than those you have found elsewhere.  

Once you are satisfied with the terms you have negotiated, you may want to obtain a written lock-in from the Lender or Broker. The lock-in should include the rate that you have agreed upon, the period the lock-in lasts, and the number of points to be paid.  

A fee may be charged for locking in the loan rate. This fee may be refundable at closing. Lock-ins can protect you from rate increases while your loan is being processed; if rates fall, however, you could end up with a less favorable rate. Should that happen, try to negotiate a compromise with the Lender or Broker.  

 Remember... Shop, Compare, Negotiate  

When buying a home, remember to shop around, to compare costs and terms, and to negotiate for the best deal. Your local newspaper and the Internet are good places to start shopping for a loan. You can usually find information both on interest rates and on points for several Lenders.  

Since rates and points can change daily, you'll want to check your news­paper often when shopping for a home loan. But the newspaper does not list the fees, so be sure to ask the Lenders about them.  

Just get the Good Faith Estimate from a couple Lenders. Don't be afraid to make Lenders and Brokers compete with each other for your business by letting them know that you are shop­ping for the best deal.

Fair Lending Is Required by Law  

The Equal Credit Opportunity Act prohibits lenders from discriminating against credit applicants in any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, whether all or part of the applicant's income comes from a public assistance program, or whether the applicant has in good faith exercised a right under the Consumer Credit Protection Act.  

The Fair Housing Act prohibits dis­crimination in residential real estate transactions on the basis of race, color, religion, sex, handicap, familial status, or national origin.  

Under these laws, a consumer cannot be refused a loan based on these characteristics nor be charged more for a loan or offered less favorable terms based on such characteristics.

 Credit Problems  

Still Shop, Compare, and Negotiate. Don't assume that minor credit prob­lems or difficulties stemming from unique circumstances, such as illness or temporary loss of income, will limit your loan choices to only high-cost lenders.  

If your credit report contains negative information that is accurate, but there are good reasons for trusting you to repay a loan, be sure to explain your situation to the Lender or Broker.

If your credit problems cannot be explained, you will probably have to pay more than borrowers who have good credit histories. But don't assume that the only way to get credit is to pay a high price.  

Ask how your past credit history affects the price of your loan and what you would need to do to get a better price. Take the time to shop around and negotiate the best deal that you can.   

Credit Reports 

Whether you have credit problems or not, it's a good idea to review your credit report for accuracy and com­pleteness before you apply for a loan. To order a copy of your credit report, contact:  

• Equifax: (800) 685-1111  

• TransUnion: (800) 916-8800  

• Experian: (800) 682-7654

 If you haven't been denied credit you can receive a free credit report by going to www.annualcreditreport.com. Every American consumer is entitled to one credit report a year. This report will not have your credit scores on it though. For a credit scores you must pay extra.

Glossary

Adjustable-Rate Loans (ARM) 

Also known as variable-rate loans, usually offer a lower initial interest rate than fixed-rate loans. The interest rate fluctuates over the life of the loan based on market conditions, but the loan agreement generally sets maximum and minimum rates. When interest rates rise, generally so do your loan pay­ments; and when interest rates fall, your monthly payments may be lowered.  

Annual percentage rate (APR)  

(APR) is the cost of credit expressed as a yearly rate. The APR includes the interest rate, points, broker fees, and certain other credit charges that the borrower is required to pay.  

Conventional Loans  

Are mortgage loans other than those insured or guaranteed by a government agency such as the FHA (Fed­eral Housing Administration), the VA (Veterans Administration), or the Rural Development Services (formerly know as Farmers Home Administration, or FmHA).  

Escrow  

Is the holding of money or documents by a neutral third party prior to closing. It can also be an account held by the Lender (or servicer) into which a home­owner pays money for taxes and insurance.  

Fixed-Rate Loans  

Generally have repayment terms of 15, 20, or 30 years. Both the interest rate and the monthly payments (for principal and interest) stay the same during the life of the loan.  

Interest Rate  

Is the cost of borrowing money expressed as a percentage rate. Interest rates can change because of market conditions. Most of the rates move with the 10-yr bond. If the bond is up, so are the rates and when down, rates follow. 

Loan Origination Fee  

Origination fee or points as everyone calls them are a fee charged by the Lender or broker for pro­cessing and making money on the loan and are often expressed as a percentage of the loan amount. 1 point equals 1% of the loan amount. So 1 point on a $100,000.00 is $1000.00 ($100,000.00 x 1% = $1000.00) 

Lock-In  

Refers to a written agreement guaranteeing a home buyer or homeowner a specific interest rate on a home loan provided that the loan is closed within a certain period of time, such as 60 or 90 days. Often the agreement also specifies the number of points to be paid at closing.  

Mortgage  

A document signed by a borrower when a home loan is made that gives the lender a right to take possession of the property if the borrower fails to pay off on the loan.  

Overages are the difference between the lowest available price and any higher price that the home buyer agrees to pay for the loan. Loan officers and brokers are often allowed to keep some or all of this difference as extra com­pensation.  

Points  

Are fees paid to the Lender for the loan. One point equals 1 percent of the loan amount. Points are usually paid in cash at closing. In some cases, the money needed to pay points can be borrowed, but doing so will increase the loan amount and the total costs.  

Private Mortgage Insurance  

(PMI) protects the lender against a loss if a borrower defaults on the loan. It is usually required for loans in which the down payment is less than 20 percent of the sales price or, in a refinancing, when the amount financed is greater than 80 percent of the appraised value.  

Transaction, settlement, or closing costs may include application fees; title examination, abstract of title, title insurance, and property survey fees; fees for preparing deeds, mortgages, and settlement documents; attorneys' fees; recording fees; and notary, appraisal, and credit report fees. Under the Real Estate Settle­ment Procedures Act, the borrower receives a Good Faith Estimate of closing costs at the time of application or within three days of application. The good faith estimate lists each expected cost either as an amount or a range.      

My Final Note

 As you can see there are a lot of fees and some of these probably don't seem real but they are. I just want to make sure you're fully equipped with all the questions to ask when shopping for a mortgage. 

FHA is a great loan but there is one limitation, the loan amount. Go to: https://entp.hud.gov/idapp/html/hicostlook.cfm, then click on your State and then look for your County. There you will see the mortgage amount limits for your area. 

Again, this is the only mortgage out there that does not require a FICO® Score. There are a lot of great loan programs but your credit score has to be in the 700's. 

If you start asking these questions I outlined in this ebook when shopping for a mortgage, the Lender or Broker will know that they have an educated borrower on the line and will know they'll have to keep their quote on the up and up. 

Most of all... just make sure you obtain it writing. If you have to, demand a good faith estimate. That way if the charges change at closing, you'll have something to fall back on. If they do... run!

Need a FHA Loan? Go to my website and fill out the mortgage application. http://www.creditrepairturbocredit.com/bad.credit.mortgage.html