February 25, 2011
Author: William M. Davis
It is hard for someone to get a mortgage following a foreclosure; however, it is possible. Having a foreclosure really looks bad on a credit report but with the right formula, getting a mortgage with a foreclosure can be done. There are still mortgage lenders for people with foreclosures.
February 23, 2011
Author: William M. Davis
The glut of foreclosed and unsold homes currently on the market brought on by the real estate crisis is forcing mortgage lenders and builders to look to auctions to assist them with selling their unwanted heartaches and headaches. With no other way out, these auctions are a flurry of real estate activity in an otherwise inactive market.
February 18, 2011
Author: William M. Davis
If you do not understand the foreclosure crisis, here is a quick look at what the fuss is all about and how it can have an effect on you. You could call it the foreclosure guide for dummies. During the last two decades of the last millennium, subprime lenders were multiplying like bunny rabbits. So did the number of subprime mortgage loans.
July 23, 2010
Author: William M. Davis
The continuing financial crisis has made reverse mortgages very popular among Alabama senior citizens. Reverse mortgages are specialized home loans that allows the owner, usually one that is above the age of 62, to convert the equity of their home into cash. They can then use this cash to supplement their social security payments and meet their medial and other financial obligations.
Who is eligible for Reverse Mortgages in Alabama?
To qualify for reverse mortgages, Alabama residents must be 62 or older and the owner of a house. The applicant must occupy the house on which the loan is being sought as …
June 22, 2010
Author: William M. Davis
Nick and Judy Splitzgerald are 4 months behind on their house note and doing almost anything to keep their two-bedroom starter home they’ve been in for 16 years. It all started when they refinanced their home 5 years ago. In hindsight maybe they should not have trusted their mortgage advisor.
Cautionary Tale
Even though they wanted a 30-year fixed-rate loan, the mortgage advisor somehow got them into a two-year adjustable-rate mortgage. The mortgage advisor also did not tell them that their payment did not cover escrow. When the new interest rate started 8 months ago, and at about the same time Nick …
April 20, 2010
Author: William M. Davis
Having a good understanding of what makes a good mortgage lender is vital to you receiving the best mortgage loan. Mortgages are long-term investments and no one wants to be stuck in a bad deal for the next 25 years. To assess your mortgage lender there are certain things you should know. These include:
1. Who is a Mortgage Lender?
A mortgage lender is a financial organization that offers both prospective and existing homeowners the necessary financial backing to purchase new homes or refinance existing ones. For their part, borrowers are expected to honor their loan agreement by making the required monthly …
April 5, 2010
Author: William M. Davis
Are you looking for a reputable second mortgage lender in the DC area? There are second mortgage lenders who are available to help you. However, it is extremely important that you comparison shop and find a reputable mortgage lender who will work in your best interest. Below I have listed a few simple ways to find reputable mortgage lenders in Washington DC and what to look for in your second mortgage.
Second Mortgage Basics
A second mortgage is another name for a home equity loan, because it is the amount of equity that you have in your home that qualifies you for …