Archive for March, 2007

Choosing The Best Kind Of Mortgage

Tuesday, March 27th, 2007
which is highly recommended. Thank you and enjoy.

About The Author: A good web site where you can see more
information on topics like this is which is
highly recommended. Thank you and enjoy.

Please use the HTML version of this article at:

Is A Reverse Mortgage The Right Option For You?

Tuesday, March 27th, 2007 and

Please use the HTML version of this article at:

How Does A Home Equity Loan Work?

Monday, March 26th, 2007 for more
information on

Please use the HTML version of this article at:

What Are The Riskiest Types Of Mortgages Loans Available?

Monday, March 26th, 2007

ora of loan programs expanding every year,
borrowers are finding themselves faced with decisions about
what loan type is best for their individual situation. The
potential for difficulties and confusion is significant, and it
is for this reason that borrowers seek to educate themselves
about the various types of mortgages and their features before
committing to any contract.

If a borrower is seeking stability and consistency, the safest
type of loan contract is the traditional 30-year fixed
mortgage. With this loan, the borrower’s payment and interest
rate does not change for the entire duration of the loan. The
payment will be predictable and the borrower does not need to
concern himself with potential changes in the real estate
marketplace or the economy.

However, the 30-year fixed mortgage may not be attractive to
the more sophisticated buyer, or to the buyer with less
disposable income. These individuals often choose ARM’s,
Interest Only loans, or Balloon loans. All three of these loans
have their own unique set of characteristics that make them
attractive, but each of these loan types carry the potential
for confusion and significantly higher monthly payments in the

Any time a borrower gets a mortgage with a fluctuating payment
schedule, there is the potential for problems in the future,
which could ultimately result in damage to credit profiles or
even foreclosure. The safest type of loan is one that the
borrower can afford every month, and one with a guaranteed
fixed payment. The alternative loan types mentioned above all
have payments that will undoubtedly increase at some point in
the future, thereby presenting risk to the home owner’s
financial situation if he fails to adequately prepare for those

When borrowers get ARM’s or Balloons or Interest Only loans
knowing that they can barely afford the initial fixed payments,
they are putting themselves in serious danger. Lenders and
mortgage brokers often fail to adequately prepare the borrower
for the increases in payments looming on the horizon.
Realistically, borrowers should only apply for and obtain such
contracts when they can legitimately afford the highest
permissible payment in the contract, rather than just the
initial reduced payment.

About The Author: – We maintain
a list of recommended leading mortgage companies online and
update it frequently.

Please use the HTML version of this article at:

Who Really Funds Home Loan?

Sunday, March 25th, 2007

major sources of mortgage financing.

(1)Primary Mortgage Markets- where mortgage loans are
originated. It is made up of

(A) Institutional lender- which are Insurance companies,
Savings and Loans (Savings bank) and Commercial Banks. They
receive most of their deposits from =ECHousehold Savings=EE
(Savings of individual depositors)

(i) Insurance Companies=F3They prefer long terms loans on
existing commercial property such as shopping center loans.
Mortgage bankers (Loan Correcpondents) usallu negotiate and
service their loans.

(ii) Savings and Loan Association(Savings Banks)– Savings and
Loanhave the greatest percentage of their asset in real estate
loans. This is main source of 1-4 family unit home loans.

(iii) Commercial Bank=F3Commercial banks prefer short term loans
and they are the primary source of construction financing.

(B) Non-Institutional lenders.=F3Which basically represents
Private lender and Mortgage Companies such as Mortgage Bankers
and Mortgage Loan correspondents.

(i) Private Lenders=F3This is major source of Junior loans.
Junior loans are second, third and fourth loans.

(ii) Mortgage Companies such as Mortgage Bankers and Mortgage
Loan correspondents=F3They are licensed by Department of Real
Estate or by Departmentr of Corporations as Residential
Mortgage lenders or California Finance Lenders. They originate
conventional loans.

(2)Secondary Mortgage Market- This is resale market place for
loans, where existing loans are bought and sold. The
participant in the secondary mortgage market have increased the
amount of housing credit available to the economy. The major
participants in the secondary mortgage market are

(A)Federal National Mortgage Association ( Fannie Mae) –
Originally a government agency, it is now a corporation with
shares traded on New York Stock Exchange. It was created for
the purpose of increasing the amount of housing credit
available to the economy. It is concerned primarily with the
development of the secondary mortgage market for conventional ,
FHA, and VA loans originated in the primary mortgage market.

(B)Government National Mortgage Association (Ginnie Mae)=F3A
federal agency within the Deparment of Housing and Urban
Development (HUD)

(C)Federal Home Loan Mortgage Corporation ( Freddie Mac) –
Works with Fannie Mae and Ginnie Mae to Increase the
availability of mortgage money and maintain the secondary
market for residential mortgages.

About The Author:

Please use the HTML version of this article at:

Shopping Around For An Unsecured Debt Consolidation Loan – Is A Loan Broker Right For You

Sunday, March 25th, 2007

If you’ve made the decision to apply for an unsecured debt
consolidation loan to assist you in dealing with some of your
outstanding debt, you may have begun the process of looking for
an unsecured debt consolidation loan and an unsecured debt
consolidation loan lender. In short speed, you may have found
yourself frustrated and even confused trying to sort out what
is available in the world today in regard to unsecured debt
consolidation loan options and in regard to different unsecured
debt consolidation loan lenders.

With this in mind, there are loan brokers in business today who
do assist their clients in finding appropriate unsecured debt
consolidation loan options. You might want to consider whether
or not the services of a loan broker can be beneficial to you
when it comes to finding an unsecured debt consolidation loan
option that will meet your needs =D6 both today but into the
future as well.

What Does a Loan Broker Do?

A loan broker is a professional that can be retained to search
and seek out different unsecured debt consolidation loan for
you to consider. Generally speaking, a loan broker will be
able to provide you with several different unsecured debt
consolidation loan options from which you can select.

How Do I Find a Qualified and Reputable Loan Broker?

There are a number of ways in which you can find and locate a
qualified and reputable loan broker who can assist you in
finding the most appropriate unsecured debt consolidation loan
option for your situation.

First of all, even in this high tech age, word of mouth is a
very important means through which you can obtain information
about different loan brokers that will be able to help you find
the best unsecured debt consolidation loan for you particular
set of circumstances.

In addition, when it comes to finding a loan broker that will
be able to help you find a solid unsecured debt consolidation
loan, you will want to get references from any loan broker that
you are considering working with. If the loan broker that you
are considering is reputable and reliable, that loan broker
will be more than happy to provide you with references in order
to assist you in determining whether that loan broker can
provide you the services that you do need when it comes to your
search for a unsecured debt consolidation loan.

How Much Does a Loan Broker Cost?

Generally speaking the consumer seeking an unsecured debt
consolidation loan through a loan broker will not have to pay a
fee to that loan broker. Rather, the loan broker is compensated
by the lender when a loan broker pairs up that lender with a
person like you who is seeking an unsecured debt consolidation
loan. Therefore, in most instances, you will not have to put
any money down to engage the services of a loan broker in you
search for an unsecured debt consolidation loan.

About The Author: Thomas Erikson is co-founder of which provides debt
consolidation information and solutions. Find out how you can
effectively get your finances under control with an Unsecured
Debt Consolidation Loan

Please use the HTML version of this article at:

2nd Mortgage Refinance Loans

Sunday, March 25th, 2007

ss than perfect credit and have some problems
with your bills, or perhaps if you want to do some home
remodeling, you might want to consider getting a 2nd mortgage
refinance loan to help you out when you need it. These types of
refinancing loans are usually not a problem to obtain, but there
can be mortgage issues that need to be addressed. The bank will
still look at your financial credit history, and will look at
how prompt you are when paying your first mortgage. Though
there are some times when they will say yes right away, there
are other times when you feel like you are going through your
first mortgage application all over again.

You might have two different options when you get 2nd mortgage
refinance loans. You are either going to pay more each month
for your mortgage (either by a higher payment or by having two
payments) or you are going to extend your existing payments
into the future. That might be the most difficult part of
deciding if you want to get 2nd mortgage refinance loans in the
first place. You may not be able to afford a higher payment, and
you may not want to extend your mortgage past the age of
retirement if you can help it.

You might also have to deal with a higher interest rate when
you get 2nd mortgage refinance loans. If you do not have
perfect credit, this might mean a jump in your interest rate.
That is a huge consideration when you are looking over offers.
If you can’t figure out how much more a higher interest rate
will cost you, make sure you find something who can spell it
out for you. Though all banks are honest for the most part,
they don’t mind making more money off of you, and they may not
explain what is going on if you don’t ask them to help you
understand it.

Be careful where you look for 2nd mortgage refinance loans. You
can find great offers online, but there are scams out there.
Make sure you are dealing with a real company. If you can’t
find any information on the company apart from what they tell
you, you want to do your own research. If you can’t find any
public and positive listings, you want to move on to someone
else. You should always make sure you look on the Better
Business Bureau’s web site if you have never heard of the
mortgage company, and remember that some name their companies
to sound like others just to reel you in. Do the research so
you don’t end up regretting what you have decided to do years

About The Author: With twenty plus years experience as a real
estate agent, appraiser and real estate investor TJ Nelson,
Mortgage Refinance Advisor, , provides
the tools for people with bad credit to acquire the American
dream, home ownership.

Please use the HTML version of this article at:

3 Things To Know About Jumbo Mortgage Loans

Sunday, March 25th, 2007

ge loan is one whose total amount is over
$417,000 – Loans above this threshold are only slightly
different than those below, yet those differences can be
dramatic to borrowers unfamiliar with such a marketplace. It is
also important to note that the ceiling for standard mortgage
loans as opposed to Jumbo loans is not set in stone and is
therefore subject to change at any time. This amount is decided
by the two largest lending organizations in the Untied States,
Freddie Mac and Fannie Mae.

One of the most significant differences with a jumbo mortgage
loan will be the interest rate – Since lenders consider homes
with sale prices above the threshold to be =ECluxury=EE residences,
they have presented a potential concern regarding successful
resale of such homes, as well as an indication that appraisal
values in this category do not increase as steadily as those
homes below the jumbo cap. For this reason, the lenders imply
that they are taking on more risk with such places, therefore
higher interest rates are required to offset such liability.

Right alongside the higher interest rate will be a higher down
payment requirement – It is almost impossible to obtain
financing for a jumbo mortgage without a down payment, and this
is directly related to the potential risks described above. Most
jumbo mortgage lenders will require a minimum of 5-10%, and the
amount will be dependent on the borrower’s credit.

Stricter documentation required – Since the majority of jumbo
mortgage loans are with =ECalternative=EE lenders such as insurance
companies and private investment groups, these organizations
will commonly have stricter documentation requirements that may
include income and asset verification beyond what the standard
mortgage lenders request. Also, these alternative lenders will
usually have loan programs that allow for longer loan terms
than those offered to borrowers below the jumbo threshold.
Typically, jumbo mortgages can have terms stretching as long as
40 or even 50 years.

Jumbo Loans are Becoming Prevalent – With the steady increase
of residential real estate in the United States, the necessity
of jumbo mortgage loans is becoming more and more prevalent.
Certain geographic regions have property values that have
recently increased dramatically, therefore the increased
instances of jumbo mortgages can be tracked by location.
Borrowers, especially those in such areas, must familiarize
themselves with the different aspects of the jumbo loans to
ensure they are not caught off-guard or unprepared.

About The Author: – Poor Credit
Welcome – We maintain a list of recommended mortgage companies
online who are major lenders and reputable companies.

Please use the HTML version of this article at:

Filling Out An Online Car Loan Application – What You’ll Need

Sunday, March 25th, 2007

online car loan application can save you a lot
of time if you are prepared before you sit down. However, it
can become very tedious if you have to get up after every
couple of questions to retrieve necessary paperwork. Read this
article, gather all of your documents, and begin the
application prepared:

Personal Information

Obviously, you’ll need to provide the lender with your basic
information: name, address, telephone number, social security
number, email address, etc.

Previous Addresses

If you’ve lived at your current address for less than two
years, you may need to provide your lender with previous
addresses. Additionally, if you rent your home, your lender may
request your landlord’s name and address.

Employment Information

It’s a good idea to have your last month’s worth of paychecks
in front of you as well as your income tax forms from the
previous filing year. Online car loan applications will ask
questions about your income. You’ll need your employer’s name,
address, phone number, and possibly their employer
identification number. If you’ve been at your current job for
less than two years, you may need to provide this information
for previous employers.

Co-Borrower Information

If you are applying for a loan with a co-signer, you’ll need
all of the above information for your co-borrower as well.

Additional Information

After you’ve filled out your online application, you’ll most
likely have to provide your lender with additional information
by fax or mail. It’s a good idea to have access to a fax
machine in order to expedite the application process. Most
often, lenders want to see proof of income; this is usually
copies of your last two paychecks. If you don’t have access to
a fax machine, make sure you have printer access. Additionally,
you may want to have an envelope in front of you so you can copy
down the lender’s mailing address.

About The Author: Visit Car Loan Sense to view our online. Also, visit Car Loan Sense
for help finding an online Car Loan Application.

Please use the HTML version of this article at:

How Do Fha Loans Work?

Sunday, March 25th, 2007

using Administration (FHA) is a government
organization that will offer insurance protection against the
principle balance of a mortgage loan for those borrowers who
would otherwise be unable to obtain residential real estate
financing. Understanding that home ownership is a positive and
powerful thing, and also considering that many people have less
than perfect credit but could otherwise handle a mortgage
payment, the FHA will work on the borrower’s behalf and provide
insurance to calm the concerned lender. This insurance
stipulates that if the borrower defaults on the loan then the
policy will repay the lender.

Acknowledging insurance coverage of this type, lenders are more
open to offering loans to individuals who would otherwise be
declined a loan based on standard criteria and requirements.
There is very little risk to the lender since the government is
guaranteeing their principle, leaving only the interest (profit)
to be risked and lost. Mortgage lenders working with FHA loans
have slightly different criteria for approval, yet there still
exists the possibility that a borrower will be declined
funding. Simply having FHA insurance does not guarantee that
just anybody can get a loan.

Similarly, the FHA itself has internal requirements regarding
the types of loans and the total amount of funding that they
will insure. Loan types made available to borrowers in this
situation are often restricted to those that are pre-approved
by FHA, and the lenders themselves must meet FHA requirements
to be included in the list of organizations with whom FHA will

There is no definitive or detailed list of all the available
loan types or lenders working with FHA loans, so a borrower or
mortgage broker may have to conduct some additional research to
locate such lenders. Either way, a borrower must become familiar
with exactly what it means to have a mortgage that is insured by
the FHA, and what additional requirements will need to be met
prior to receiving approval.

About The Author: – We maintain
a list of reputable mortgage companies online and update it

Please use the HTML version of this article at: