|
|
|
Home Loans and Mortgages – The Selection Can Be Bewildering
For years, when someone wanted to purchase or refinance a home, the choices were simple. The buyer chose either a 15-year fixed-rate mortgage or a 30 year fixed-rate mortgage. That was it. Of course, those were also the days of twenty percent down...
Is Home Mortgage Refinancing Really Worth It?
Is it really worth it? Excellent question... since the refinancing process can take upwards of 2-3 months to complete, plus the expenses and hassles of refinancing may outweigh the benefits.
Not everyone should refinance just because rates are...
Mortgage Refinance - Tips To Help You Cut Fees And Costs
Saving money through a mortgage refi is more than just finding the lowest interest rates. You can further cut fees and costs through the structure of your loan, avoiding PMI, and buying lower interest rates. Close Credit Card Accounts Close...
Refinancing Second Mortgage
Refinancing is the process of replacing an existing loan with another lower interest rate loan for the same amount. Rate of interest is the rate in percentage charged by the mortgage lender in calculating the outstanding principal balance....
Tax Reform - Limit of Mortgage Tax Deduction
A committee appointed by President Bush has come up with an alarming recommendation. They want to limit the tax deduction for mortgage interest!
Reform
Following his re-election, President Bush set up an aggressive agenda in which he hoped to...
|
|
| |
|
|
|
|
|
|
Home Loans and Mortgages – Tips to Avoid Foreclosure
Today’s real estate market is a volatile one; prices are at record levels and Interest rates are favorable, but foreclosures are increasing. Wages haven’t kept up with home prices and some buyers who had to stretch to find a way to obtain a mortgage in the first place are having trouble making their payments. Usually, if a buyer cannot meet his or her mortgage obligation, the lender forecloses, taking the home and leaving the buyer without a place to live and a tarnished credit record. If you are having problems paying your mortgage, can you avoid this scenario?
Depending on your type of mortgage and your lender, you may have other options. Most lenders, wary of rising foreclosure rates, would rather work out some sort of solution than take your home. Lenders are in the business of lending money, not selling houses, and the process of foreclosure is a tedious one that most institutions would rather avoid. The first thing you should do if you find yourself with a problem making your payments is to call your lender and discuss the matter with them. The sooner you contact them, the more likely you are to work out a solution that’s agreeable to both of you.
Here are a few possible options for buyers who are having temporary cash flow problems:
Your lender may agree to temporarily suspend payments until you are able to resume paying them. Alternatively, your lender may be willing to restructure or refinance your loan.
If your loan is insured by the department Housing
and Urban Development or the FHA, you may be eligible for a one-time payment to bring your mortgage payments up to date. For details, contact the HUD or FHA directly.
You may be able to sell your home to pay off your loan. This is clearly not the first choice for many homeowners, but it is a better option than losing your home outright. Rising real estate prices during the last few years have left many homeowners with a lot of equity. You may be able to sell your home for more than you owe, which will relieve your debt and leave you with some cash left over.
Your lender may be willing to simply take the home back, rather than force you out of it. You lose the house, but your credit rating will not likely suffer.
These are just a few choices that may be available to you. Your lender may offer other solutions, as well, so don’t’ hesitate to call them if you find yourself in financial trouble. It is far better to contact the lender and tell them of your problems than to have them call you and ask, “Where is our money?” Be forthright and tell them that you want to work something out, and you may find a solution that allows you to keep your home. It never hurts to ask.
About the Author
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including HomeEquityHelp.com, a site devoted to information regarding mortgages and home equity loans .
|
|
|
|
|
| E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ... |
| E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online. |
| www.eloan.com |
|
| LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
| Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
| www.lendingtree.com |
|
| Calculators - Refinance Calculator |
| 1, CURRENT MORTGAGE. My monthly payment is: $. My current interest rate is %. I have years and months left on this mortgage. ... |
| cgi.money.cnn.com |
|
| Refinance | Mortgage Loans | Home Equity Loans |
| Join over 3 million homeowners who have used GetSmart, a service of LendingTree, to find a better mortgage, refinance, home equity, or debt consolidation ... |
| www.getsmart.com |
|
| Mortgage Refinance - Debt Consolidation Loan - Mortgage Loans ... |
| iMortgage Central is a borrower's marketplace that provides the consumer a connection with mortgage lenders that match them to their individual needs. |
| www.imortgagecentral.com |
|
| Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
| Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
| www.quickenloans.com |
|
| Mortgage Refinance Calculators and Mortgage Tools - Quicken Loans |
| Mortgage refinance calculators from Quicken Loans allow you to calculate your mortgage payments for a variety of refinance loans, home loans, ... |
| www.quickenloans.com |
|
| Mortgage Refinance Calculator |
| Mortgage Refinance Calculator. As those interest rates drop, it's often difficult to know when it's to your advantage to refinance your fixed-rate mortgage. ... |
| www.aba.com |
|
| Mortgage Refinance Costs |
| Mortgage Refinance Costs. When you refinance your mortgage, you usually pay off your original mortgage and sign a new loan. With a new loan, you again pay ... |
| www.mortgage101.com |
|
| Bad Credit Mortgage Refinance,Bad Credit Home Loans,California ... |
| Bad credit home loans,California mortgages,Debt Consolidation Home Loans, Refinance Home Loans, Refinance Mortgage Interest Rates,Second Mortgage solutions ... |
| www.alliancemtg.com |
|
| Directory: mortgage refinance |
| Internet Access · Online Education · Insurance Quote · Arts · Domain Name · Nutrition · Computer Hardware · Television · Home Mortgage Refinance ... |
| shurl.org |
|
| Mortgage Refinance Home Loan - Homeloancenter.com |
| Our Mortgage Refinance Home Loans allow you to get cash out with a Low mortgage Rates from the leading online lender. Bad Credit Loans are ok. |
| https: |
|
| Mortgage | Refinance | Home Equity | Home Loans | Mortgage ... |
| This era has been marked as the mortgage refinance era. ... Call Us Today For A Free Quote On Your Mortgage Refinance, Home Equity Loan, Debt Consolidation ... |
| www.lendance.com |
|
| Mortgage Refinance & Credit Card Rates |
| Mortgage Refinance · Home Purchase Loan · Home Equity Loan · Debt Consolidation · First Time Home Buyer · Refinance->Cash Out · Lower Payment ... |
| www.fetcharate.com |
|
| Home Loan Center - Home Equity Loans | Mortgage Refinance | Bad ... |
| The leading online lender for home loans, home equity loans, mortgage refinance and bad credit loans. We are approved in all 50 states. |
| www.homeloancenter.com |
|
| Mortgage Refinance Options : Cut Your Rates with a Loan Refinance |
| Get Free No-Risk, No-Obligation quotes for your Refinance from up to 4 lenders. |
| www.mortgageloanplace.com |
|
| Wells Fargo Home Mortgage - Refinancing |
| Wells Fargo Home Mortgage can help you customize a refinance that supports your unique financial goals. |
| https: |
|
| Mortgage Refinance, Health, Auto, Life Insurance Quote |
| Online marketplace to refinance and save on your mortgage. Receive up to 4 offers. Save money with GoApply.com for all of your financial needs such as ... |
| www.goapply.com |
|
| Mortgage Refinance |
| Apply for a mortgage refinance today with us! We work with the nation's largest network of recognized mortgage lenders to bring you the best deals on a ... |
| www.wilsondaily.com |
|
| What is a Mortgage Refinance |
| A mortgage refinance refers to applying for another mortgage to replace an existing mortgage on the property. There are many reasons why borrowers decide to ... |
| www.nextag.com |
|
|