Home Mortgage Refinance: Sub Prime Market Trends

September 2nd, 2007


http://www.homemortgageloan-refinance.com. There’s no better
place to find out what you need to do. A simple click will get
you ready answers! Do it now.

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Home Mortgage Refinance: Choosing The Best Deal

September 2nd, 2007


http://www.homemortgageloan-refinance.com Don’t delay
as this could make a REAL difference in your life. Act today !!!

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Secured Home Equity Loans – Using Your Home As Collateral

September 2nd, 2007


http://www.homeequitywise.com to find a
good Home Equity Loan Company online.

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Federal Student Loan Forgiveness

September 2nd, 2007

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Performance is ultimately what really matters. Federal Student
Loan forgiveness is an exceptional concept applicable to
students only under certain circumstances. It means the loan
amount received by students might be cancelled in half or in
full amount by Federal Government. It is not impossible and
depends completely on your work performance. If you want to be
one of those special students who want to be a recipient of
Federal Student Loan forgiveness, then act to your best.

You just need to show your excellent performance in the
following ways:

1.Organize and perform volunteer work
2.Organize and perform military services
3.Teach/preach/practice medicine in selected communities
4.Make a thorough research and meet other criteria specified by
loan forgiveness programs

In case of volunteer work, loan forgiveness is conducted by
Ameri Corps, where the student needs to serve for one full year,
get stipends and extra amounts that can be used towards loans.
In another organization, Peace Corps, volunteers can specially
apply for deferment of variety of loans like Stafford,
Consolidation loans and Perkins loans with partial cancellation
of Perkins Loans. This dream can come true in the lives of
students only if they can serve with a difference and truly
devote their time in work.

Students who are in military field can also make a mark in the
lives of others and at same time contribute to Federal Student
Loan forgiveness scheme. Students who are in Army front are
therefore highly eligible for Student Loan Repayment program. In
case of teaching, Federal Student Loan forgiveness program can
be conducted only if the students can become full-time teachers
in elementary or secondary schools, mainly teaching students who
span the low-income family groups. Under this teaching plan
scheme, the students are allowed to be forgiven of Perkins Loan
under The National Defense Education Act. In legal field, many
law schools forgive the loans of students who dedicatedly serve
in public interest or non-profitable organizations. Federal
student loan forgiveness programs for medical students include
several plans like NIH AIDS Research Loan Repayment Programs,
NIH General Research Loan Repayment Program, Indian Health
Service [HIS] Loan Repayment Program and US Force, Army and Navy
Financial Assistance Program. Under each of these plans, the
student should work faithfully, if they want their loan to be
forgiven.

Apart from these fields, there are other ways where Federal
Student loan forgiveness program becomes successful. These
fields include Bachelor’s Degree in Colleges of Arts and
Sciences, where student will perform the job required in
institutions. Students who receive the Michael Murphy Loan
specially for studying Law enforcement, probation and parole,
law and penology or other significant fields related to these
studies, can work off one-fifth per year to get enrolled under
Federal student loan forgiveness scheme.

Therefore, Federal Student Loan Forgiveness program is
applicable when the student can perform the following
activities:

1. Perform full-time/partial service as a teacher in
designated/recognized elementary or secondary school teaching
students who belong to low-income family groups.

2. Perform the role of a teacher teaching children suffering
from some kind of disabilities.

3. Qualified professional teachers belonging to subjects like
mathematics, science, foreign languages, bilingual education.

4. Performing the role of an employee of public or non-profit
child/family service agency providing services to high-risk
children along with their families/

Perform any of these activities as per your loan status for
acquiring Federal Student loan forgiveness.

About The Author: Ainuddin Mohamad is the Webmaster of the
Crush Bad Credit website at http://crushbadcredit.com devoted to
providing debt relief advice.

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What You Need To Know About Applying For An International Student Loan

September 2nd, 2007

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Before you get all excited about the thought of obtaining an
international student loan so that you can attend college at
some exotic university in Beijing or Paris, hang onto your
laptop. There are rules and regulations when it comes to these
types of loans, and they are also extremely difficult to obtain.
However, for the determined and the focused, there are ways to
achieve the seemingly impossible. First, know the rules and
regulations, and there’s a ton of them.

First, in order to obtain an international student loan, you
must be enrolled, or in the process of enrolling, at a foreign
university or college program that is approved by the Education
Resources Institute. Log onto their website for additional
information that pertains to your needs. Then, keep in mind that
you must be a United States citizen in order to have your
application even accepted, let alone approved. And if you
thought there was a lot of paperwork for your typical
neighborhood college or university, just wait until you get the
packet of paperwork for this type of student loan!

A peek into what will be needed is full contact information,
full financial information, and that means don’t keep any
secrets. Parents are likely to groan when they see what needs to
be done. The approving authorities are going to want to know
about your mortgage, your credit history, present and past
occupations and employer information for verification purposes.
They’re also going to want to know your gross yearly income and
references. Students will be asked to provide proof of
enrollment, most likely in the form of an acceptance letter or
class schedule from the school they plan on attending.

In addition, a co-signer is often asked for. They must be able
to verify a credit history for at least 21 months prior to the
time of application, as well as proof of citizenship or
permanent resident status. They also will be required to provide
proof of income as well as a two year employment history,
whether they’re self-employed or not. That’s just the beginning,
and by the time you’re done filling out the necessary papers and
forms, there will be no such thing as a private aspect of your
life.

However, balance all that with the benefits of attending a
foreign university, and you may just have gotten yourself a
deal. Oh, but don’t forget that credit ratings for that
international student loan are going to be based on your credit
history rating, and that fees will depend on how much of a loan
you’re asking for. Nevertheless, the look in your son or
daughter’s eyes when that loan is finally approved makes it all
worthwhile.

When applying for such a student loan, try to fill out the
initial application as soon as they become available for the
school year or semester that the student is accepted for. The
red tape, processing and waiting times can be excruciatingly
slow, so try to get a jump on the thousands of applications that
are filed every year.

About The Author: Need more information on applying for an
international student loan? Find out more at
http://studentloansrevealed.com/internationalstudentloan.htm .

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Overlooked Benefits Of Refinancing Car Loans

September 2nd, 2007

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Hearing about refinancing mortgages is common, but you may not
have thought about refinancing your car loan when interest rates
drop. Refinancing an auto loan can be a good idea for several
reasons, and it is easier than refinancing a mortgage.

Refinancing could save thousands of dollars over the life of
the loan, even if you received a decent rate. Anyone who didn’t
get a car loan below 3% APR should consider refinancing. More
than likely, however, your APR was much higher than that.

If you had a few dings on your credit report when you bought a
car, the lender may have quoted you 20% to 25% APR. Despite what
you might think, you aren’t stuck at this rate. Once you have
held the loan for about 6 months and paid on time, lenders are
more willing to take a chance on you. You can also change a few
things to raise your credit score in that period.

Let’s say you received a loan for $16,500 for 60 months at 21%
APR. If you refinance at 7% APR, your monthly payments will drop
from about $446 to $330. Those savings over the life of the loan
totals about $6,945. As you can see, refinancing is key.

Refinancing will not only save you money, but it can also be
the only way to help get you out of debt. If you are paying 25%
APR, there is no way you will ever be able to get out of debt
while making these payments. Since you pay most of the interest
early in the life of the loan, the earlier you refinance the
better, and the more money you will save

One of the differences between car loans and mortgages is that
lenders will not refinance car loans that they originally
loaned. You will have to find a different lender to refinance
your loan. You can find lenders at banks, credit unions, or even
online that will refinance an auto loan. Remember to shop around
for rates for refinancing to get the best deal. It usually only
takes 5 to 10 minutes to fill out an application, and there is
generally not any risk involved in applying for a refinance.

About The Author: Lauren Armstrong is an industry professional
and expert author at http://Smartloanstart.com. Shop for a
loan, compare rates, and get instant approval online with our
recommended lenders and services at
http://www.smartloanstart.com

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10 Secrets To Better Mortgage Rates In A Changing Mortgage World

August 5th, 2007

You have permission to publish this article electronically
or in print, free of charge, as long as the bylines are
included. A courtesy copy of your publication would be
appreciated – send to scottpasinski@gmail.com.

Title: 10 Secrets To Better Mortgage Rates In A Changing Mortgage World
Word Count: 925
Author: Scott Pasinski
Email: scottpasinski@gmail.com
Category: Finance & Investment
Article URL:
http://www.submityourarticle.com/articles/easypublish.php?art_id#17117

The article is preformatted to 60CPL.

10 Secrets To Better Mortgage Rates In A Changing Mortgage World
Long gone are the days of the 100% stated income mortgage
loans with a 620 credit score. Some high powered Wall
Street executives took advantage of us all by promoting
loans that inherently placed people in tough financial
positions. We all see where that has taken us now. In
fact, everyone sees it all over; there are a record number
of delinquencies and foreclosures, millions of them. Why,
because a percentage of these borrowers should never have
received the loan they did. Our ’10 Secrets to Better
Mortgage Rates’ can change a lot of things for a lot of
people.

Maybe some people could afford a home, but just not the
$350,000 one. The mortgage industry has a responsibility
to educate our customers and build strong lifetime
friendships. We must look at the long term goals of owning
a home, rather than owning what we want now. Build
yourself in the `Best Borrower’ so you can get the home
that you have always wanted, it is really not that
difficult. If you make your mortgage payment a struggle,
it will only hurt you in the end.

There is something to be said about the years of `buyer
education’ our parents went through to buy their first
home. It created financial strength. Often times it took
years to accumulate enough money to buy the American Dream.
Imagine both the financial commitments and attention to
credit that must have had? Did you know that the subprime
mortgage industry is really less than 20 years old? It was
only recently that the birth of the `not so perfect’ credit
mortgage and `now you need less that 20% down’ mortgages
were born

Ironically, it’s these new ideas that have allowed many
more people to own a home. The United States has recently
achieved its highest percentage of home ownership in our
history. Obviously home ownership is great; however, it can
show it’s ugly face with foreclosures and all the stress it
causes as well.

So we would like to offer you the `10 ways to be your best
borrower in a changing mortgage world’. These may sound
simple, but absolutely everything in this world has
fundamentals and building blocks that we can apply if we
are to get the most out of them. This guidance will make
you a stronger borrower and will get you better mortgage
interest rates.

1) Pay your rent/mortgage on time with checks. Lenders
want to see a consistency in major payments. None are more
important than your current rent or mortgage. Even if
their landlord lives next door, pay by a check. Days of a
private Verification of Mortgage have gone away. This
stability in payment shows a stronger borrower.

2) When building credit, pay on time and avoid high
balances. We are looking at buying a home twelve months
from now. Pay a little extra every month. Stay away from
the specialty finance programs that say “18 months same as
cash”. Most likely these programs will give you a credit
line for the amount of the unit you are purchasing. Fore
example, that large screen TV for the big game. The line
is maxed when you buy the unit. New credit opened and then
it’s maxed. This has many negative effects.

3) Stay in that car for a couple more months. Get in the
home and then go after the car. This can really drive your
score down.

4) Buy a home within your means. This will allow you to
keep the home and get the home that they want when they can
afford it. This benefits all of us.

5) For cash paying incomes =96 Deposit your money first!
Many banks have 12 months bank statement programs. This
can allow you to avoid stated income products and higher
rates. We all love our extra part time bartending job.
Showing this income to a lender will help as well.

6) When paying down credit lines, keep them open. Don’t
pay them off. Credit lines that are paid off negatively
affect credit

7) Educate yourself. Stay up to date on programs and
industry trends. For example, right now a 40 yr mortgage
is better than an interest only or a 50 yr program. The
secondary market, which drives mortgage programs and rates,
looks negatively on 50 yr and interest only products. When
this happens your rates become higher.

8) Look at the benefits on refinancing. Most lenders use
these guidelines called Net Tangible Benefits. This is
there to protect you as a borrower. Are you getting 10%
cash out? Are you lowering their payment by 10%? Are you
moving from a Adjustable Rate to a Fixed Rate? If there
is no benefit, think again. This is probably not the
lender for you.

9) Know what payment will affect your credit the most.
Your home and your car can affect you the worse. It can
take 12 months to repair this damage. Don’t ever think one
payment won’t hurt.

10) Before you refinance, can you take out a Home Equity
Line of Credit? Most HELOC’s do not have a prepayment
penalty. Take one out to repair the credit and pay off
debts and then refinance. Over time a borrower will save
more then the costs of the HELOC because their mortgage
interest rates are lower. 40 to 100 points in your score
can make a lot of difference to your rate.

If you know the 10 Secrets to obtaining your best mortgage
terms before you buy a home, you definitely will saves
thousands of dollars.

About the Author:

Scott Pasinski is a Senior writer for
http://www.ConsumerMortgageReports.com as well as a
profession mortgage broker. ConsumerMortgageReports.com
philosophy is to provide valuable information to homeowners
throughout the United States.

Refinance After Bankruptcy – How Does Your Bankruptcy Affect Home Mortgage Refinancing?

August 5th, 2007

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There are a few basic concepts one should know when looking
into refinancing a mortgage after a bankruptcy. Most
importantly, you need to know the two different types of
personal bankruptcy that you can declare.

Chapter 7 Bankruptcy, often called “straight bankruptcy”, is an
attempt for someone financially overextended to liquidate most
of their assets to satisfy creditors, keeping only a few
personal assets needed for the basic necessities of life such as
an economical car, personal clothing, etc.

In Chapter 13 Bankruptcy, your assets are not liquidated.
Instead, you come to an agreement with an appointed trustee
where late charges and other penalties are eliminated and you
start a payment plan to repay much of the debt owed. This
process can take over a year or two, but will allow you to
retain belongings (and property). Also, it is looked at more
favorably by lenders because you are attempting to repay your
debts, not just write them off. Lenders will look at both the
date the bankruptcy was filed and when it was discharged.

A Chapter 13 Bankruptcy “buyout” is a refinance loan, taking
out a new loan to cover the existing mortgage and some or all of
the other debts. This is basically considered a “cash-out”
refinance. Most Chapter 13 Bankruptcy refinance loans are
limited to roughly 85% of the value of your home.

When refinancing out of a Chapter 13 Bankruptcy, or soon after
a Chapter 7 or Chapter 13 Bankruptcy, you will almost certainly
be working with a sub-prime or “non-prime” lender. These lenders
specialize in helping borrowers with blemished credit histories.
Often, borrowers refinancing near the time of a bankruptcy will
seek the assistance of a mortgage broker, many of whom have
experience with this type of loan. If possible, it is best to
wait at least two years after the discharge of your bankrupty to
refinance your mortgage. This will help you to receive a better
interest rate. Start now to pay your bills on time and in full.
This will help to repair your credit and give you even better
chances of a lower rate.

About The Author:
http://www.mortgagesanity.com/2007/02/08/bad-credit-mortgage-companies/
– We maintain an updated and current list of mortgage companies
online who service borrowers with credit problems.

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Personal Debt Consolidation Loans – Can You Qualify?

August 5th, 2007

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If you are faithful to pay the minimum payment on each of your
bills each month, you still stand the chance of never getting
out of debt. By making the minimum payment, you are simply
lining the pockets of your creditors with endless interest
payments and very little of your money is applied to the
principle of your debt. There is a way to get out of the cycle
you find yourself in. To decide if a personal debt consolidation
loan is the solution for your situation, it is important to
determine whether or not you can qualify for a consolidation
loan.

Your credit counts.

When you apply for any loan, the condition of your credit will
determine whether or not you qualify. It is important to monitor
your credit on a regular basis to make sure it doesn’t contain
any mistakes that could hurt your chances of getting a loan.
Your credit score is also affected by your potential for debt,
so if you have several unused but open accounts on your credit
report, close them so that they don’t affect your credit score.
It is also important to make sure that you are making all of
your payments on time. Late payments show up on your credit
report and that can also determine whether or not you can
qualify for a loan. Even if you qualify for a loan, bad marks on
your credit can change the interest rate a company is willing to
offer you. The lower your credit score, the higher the rate of
interest you will qualify for.

What kind of collateral do you have?

Most consolidation loans require you to own a home that has
accrued enough equity to cover the loan. If you don’t own a
home, chances are you won’t qualify for a debt consolidation
loan. If you do qualify for a home equity debt consolidation
loan, remember that you are risking your house to pay off your
personal debts. It is important that you stay current on all of
your payments.

About The Author: Visit Debt Sanity to view our
http://www.debtsanity.com online. Also, visit Debt Sanity for
more information on qualifying for a
http://www.debtsanity.com/do_you_qualify_for_a_debt_consolidation_loan.shtm
l

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Home Mortgage Loans For People With Bad Credit – Finding The Best Low Rate

August 5th, 2007

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Getting a low rate mortgage with a negative credit rating is
challenging. When people finance a home, obtaining a good
finance package is a top concern – and for good reason. The
mortgage rate received on a loan may significantly increase or
decrease a monthly mortgage payment. If you have good credit,
getting the best low rate is simple. However, if you have bad
credit, you may have to exert a little energy and search for a
good rate.

Compare and Contrast Mortgage Rates and Terms

Smart buyers will stress the importance of shopping around for
the best deal. This rule applies to any purchase – cars,
clothes, shoes, etc. Homes are our biggest expense.
Unfortunately, many home buyers do not devote much time to
searching for the best financing package. This is a big mistake.
When shopping for a mortgage, it is important to get quotes from
several lenders and carefully review their offers. Those who are
eager to buy a home make the mistake of accepting the first
offer. However, comparing mortgage rates, terms, and services
may save you thousands, and in effect lower your mortgage
payment.

Apply for Loan with a Sub Prime Lender

Many financial institutions specialize in home mortgage loans.
These include banks, mortgage companies, credit unions, etc. If
you have good credit, you may be able to obtain a low rate
mortgage using these financial institutions. However, if you
have bad credit, these lenders may charge you additional fees
and an extremely high rate. Because of your bad credit status,
you are more likely to default on the mortgage. Thus, lenders
increase the interest rate. This allows them to recoup their
money sooner.

If you were to acquire a loan using a sub prime lender, your
interest rate may be comparable to current market rates. You can
expect to pay about one or two points higher than a person with
great credit, however, you avoid paying an interest rate three
points or more above current rates.

Working with an online mortgage broker is the best way to
locate a reputable sub prime lender. Based on information
provided on your application, brokers will match you with a
lender who specializes in mortgages that fit your circumstances.

About The Author: Visit ABC Loan Guide for advice about
http://www.abcloanguide.com/lessthanperfectcredit.shtml. View
all of our
http://www.abcloanguide.com/lessthanperfectcredit.shtml.

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