loan: Five Tips for a Successful Refinance Closing
- 06/30/10 02:37 AM
While refinance closings are less stressful than purchase closings because there is no seller and no moving involved, following a few simple rules can help make your refinance closing successful and hassle free. The primary goal of refinancing is to obtain a new mortgage to lower your rate, take cash out or both. Closing within the period of your rate lock is a critical part of successfully refinancing. You and your loan officer can do everything right to get your loan ready to close, but if your rate lock expires and rates have increased, your refinance plans will have failed. 1. … (1 comments)
loan: Financial Reform Could Spur Big Changes to Mortgage Industry
- 06/29/10 03:21 AM
Last week’s financial regulatory reform bill was passed with much fanfare in Congress*. Many observers in the press felt that the bill was diluted and would be weak and ineffectual. It did not seem to adequately address many of the issues that caused the financial crisis (it is especially weak in derivatives regulation as well as addressing too-big-to-fail syndrome). Interestingly, many observers who were generally critical of the legislation, such as Barry Ritholz of The Big Picture feel that the bill does a good job in the area of mortgage reform. *It appears that the death of Senator Robert Byrd could … (0 comments)
loan: What Credit Score Will Get You The Lowest Mortgage Rates?
- 06/21/10 09:52 AM
See what credit scores you need to get a mortgage today So what credit score do you need to get the absolute lowest mortgage rates when you are refinancing? The answer depends on whether you are getting a loan from Fannie Mae, Freddie Mac, FHA or from a jumbo portfolio mortgage lender. Your credit score also determines your interest rate and how much of your home's value you can borrow. Minimum credit score requirements have shot up in the past eighteen months as a response to the mortgage crisis. Borrowers with excellent credit scores can still get some of the lowest … (2 comments)
loan: First-Time Home Buyer Tax Credit Closing Date To Be Extended?
- 06/11/10 07:28 AM
An initiative was introduced in the Senate yesterday that would give home buyers attempting to claim the first-time home buyer tax credit an additional three months to close on their homes. In order to claim the tax credit, a potential buyer needed to sign a purchase agreement prior to April 30 and had to close on the home prior to June 30. Under the new proposal introduced by Senator Harry Reid, those who signed a purchase agreement by April 30 would now have until September 30 to close their sale. Along with historically low mortgage rates and low home prices, the … (2 comments)
loan: How Do I Avoid Foreclosure?
- 06/07/10 06:12 AM
Tips for Avoiding Foreclosure If you're living in fear of foreclosure on your home, there are options available to help you avoid such a disastrous situation. If your problem is only temporary, there are three opportunities for relief: * Reinstatement * Forbearance * Repayment If your problem is more long term or permanent, all is still not lost. Mortgage modifications and partial claims may be the solution you've been hoping for to halt the foreclosure process. Speaking with a mortgage expert at Total Mortgage about foreclosure is a great place to start. If you're only slightly behind on payments, foreclosure may … (0 comments)
loan: Top 10 Mistakes When Getting a home-equity loan
- 06/04/10 06:00 AM
Getting a home-equity loan Not knowing if your loan has a pre-payment penalty clause. If you are getting a "NO FEE" home-equity loan, chances are there's a hefty pre-payment penalty included. You'll want to avoid such a loan if you are planning to sell or refinance in the next three to five years. Getting too large a credit line. When you get too large a credit line, you can be turned down for other loans because some lenders calculate your payments based upon the available credit--not the used credit. Even when your equity line has a zero balance, having a large … (2 comments)
loan: How to Refinance Your Home in New Jersey
- 06/04/10 02:29 AM
Learn how to refinance your mortgage if you live in the state of New Jersey Refinancing in New Jersey is easier and is less costly than in many states. The refinance process in New Jersey is relatively simple: 1. Select a mortgage lender. 2. Submit your application. 3. Lock in your interest rate. (View current mortgage rates in New Jersey) 4. Select an attorney to close your loan. 5. Get all required documentation to your lender 6. After you are approved, close your loan with the attorney. Home prices in most of New Jersey have decreased substantially over the last three … (0 comments)
loan: Home Loans for Single Women
- 05/27/10 09:45 AM
Learn how more and more single women are able to buy homes Home buying by single women has skyrocketed over the past ten years. Single women are responsible for more than one third of the growth in real estate ownership since 1994, and more than 20% of all home buyers today are single woman. That is twice as many single women as single men buying homes. Why are single women buying homes more than single men these days? While there is no single overriding factor, the increased success of women in the work force has opened up opportunities for women to … (1 comments)
loan: Assembling Your Home Buying Team
- 05/27/10 07:23 AM
Find out how to put together the team you need to help you buy your home Home buyers need to assemble their home buying team before they start making offers on houses. Once you start bidding on a property, events move quickly and you may not have time to select who you need if other bidders also want the same home. Home buyers need five key people on their home buying team, and in many cases these professionals work with a team to insure you get the best service. These team members are: Realtor - Select a Realtor who you feel … (1 comments)
While refinance closings are less stressful than purchase closings because there is no seller and no moving involved, following a few simple rules can help make your refinance closing successful and hassle free.
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