mortgage: Trump will Allow Delay on Mortgage Payments and Foreclosures
- 03/20/20 10:43 AM
Good news for all borrowers! The Trump administration will allow delay in mortgage payments for all low-income households in America suffering by the coronavirus side effect, economical crisis. The plan will be set by the government along with mortgage lenders and real estate trade groups. During these difficult times, several countries worldwide have taken action and suspended temporarily mortgage payments, like Italy, for instance. This measure is necessary in order to stop or minimize the spread of coronavirus, a highly mortal disease to the elderly, that is affecting the world's economy in every way. However, the administration has not revealed how or when the borrowers will … (2 comments)
mortgage: Facts About FHA Loans
- 02/21/20 07:17 AM
An FHA (Federal Housing Administration) loan is a mortgage provided by an FHA-approved lender which is later insured by the FHA. The agency has been popular among first-time buyers because it was one of the first sources of low-down-payment loans. Currently, there are several of low-down-payment loans, despite this, FHA remains to be a popular source for homeownership. A good thing about FHA loans is that they are not restricted to people with lower yearly incomes nor to first-time buyers. However, its mission is to focus first on providing affordable mortgage credit to households that are ruled out by private lenders. FHA services might not be for everyone, but is still … (1 comments)
mortgage: Home Prices Go Up in The U.S?
- 02/13/20 10:04 AM
Housing price is escalating nationwide, up to 94% of main metropolitan areas, according to studies based on the fourth quarter of 2019. The good news is that buyers still lean on low mortgages rates, in the fourth quarter of the past year, the 30-y fixed mortgage was on average 3.76%. To afford a mortgage, a first-time homebuyer would need an estimate of $48,288 a year for a monthly average payment of over $1,000, assuming a 10% down payment. According to NAR (National Association of Realtors), finding a property available for sale is challenging, plus, home prices have gone up during each quarter of the year (2019), … (2 comments)
mortgage: Bring More to the Table Than Food
- 12/03/12 03:40 AM
I wrote an article for the Scotsman Guide about how to create true partnerships between mortgage brokers and Realtors. To create a profitable relationship you should work on these things: - Marketing together - Working together on getting accurate pre-approval letters - Mortgage brokers and originators should educate Realtors on mortgages and lending - Communication - Team Work
To view the entire article, click on the image above to view the digital magazine edition or click here to view the article on the Scotsman Guide website.
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mortgage: Bank of America Foreclosures on US Military Service Members
- 06/03/11 04:20 AM
While I've never really been a big fan of Bank of America I really had no idea how awful they really were until I read this article about unwarranted and illegal foreclosures on houses owned by active duty military service members. I know that bank of America has never been the most moral or institutions but I never thought that they could be so greedy and unpatriotic. The article goes on to say "The Servicemembers Civil Relief Act states that active duty soldiers may only be foreclosed upon in very extreme cases and must receive court orders before completing the process. The two … (2 comments)
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