Over the past few months Countrywide Home Loans, Lehman Brothers, and Merrill Lynch’s First Franklin to name a few have all announced major employee cutbacks. President Bush also recently announced a foreclosure avoidance initiative. And talk of an imminent mortgage crisis permeates the media. So how serious is the threat of foreclosure?
6 Paths Down the Road to Foreclosure
Over the past few months Countrywide Home Loans, Lehman Brothers, and Merrill Lynch’s First Franklin to name a few have all announced major employee cutbacks. President Bush also recently announced a foreclosure avoidance initiative. And talk of an imminent mortgage crisis permeates the media. So how serious is the threat of foreclosure?
The 2008 Housing Market
Most areas have seen declines in home values during 2007. In fact, according to the National Association of Realtors, in 2007 existing home values have decreased an average of 1.4 percent.
FHA Refinancing Information
If you have considered an FHA mortgage, FHA mortgage center is a good place to start for information. First-time home buyers, borrowers with limited depth of credit, veterans of the armed forces and even borrowers facing foreclosure can all stand to benefit by purchasing or refinancing with an FHA/VA loan. To qualify for FHA loan [...]
Your ARM is Resetting
2007 will be remembered as the year of the ARM reset. If you are like thousands of homeowners, then your adjustable rate mortgage will reset too. In 2006 approximately $300,000 billion worth of ARMs reset. In 2007 that number will more than trip to $1 trillion according to the Mortgage Bankers Association of America.
Your ARM is Resetting
2007 will be remembered as the year of the ARM reset. If you are like thousands of homeowners, then your adjustable rate mortgage will reset too. In 2006 approximately $300,000 billion worth of ARMs reset. In 2007 that number will more than trip to $1 trillion according to the Mortgage Bankers Association of America.
Get Out of Debt
Are You Drowning In Bills? If your debt is getting out of hand, you need to develop a strategy for getting out from under your high-interest debt payments. By combining all of your high-interest credit cards, car loan, and consumer loans into a new first mortgage and stretching the repayment period, you can lower your [...]
Lower Closing Costs
Lower closing costs aren’t the result of merely going to the right broker or lender for your mortgage. There’s more to it than that. And there is one step you should take to help you pay a fair price for the work your lender or broker does to close your loan. This step is to [...]
Tips for Non-Traditional Loans
If you plan on applying for a more unconventional Loan such as an interest only or a no documentation loan, you’ll want to plan ahead and follow a few simple steps to improve your chances of being approved for the loan. It will also save you time and frustration in the process, if you’re prepared [...]
Lending Guidelines Continue to Tighten
It seems like a day doesn’t go by lately that we here at The Mortgage Guide don’t get an urgent message from our wholesale lending partners. Today it comes from Express Capital Lending. Important Announcement – Effective Immediately Due to current market conditions, Express Capital Lending will only be accepting new submissions for agency conforming [...]
Standard Lending Practices Tightening
If you’ve been shopping for a home loan recently, you may have noticed it seems to be a little tougher out there. For one thing, foreclosures have been on the rise across the country. This makes mortgage lenders rather skittish. They begin to more carefully scrutinize their borrowers. It’s a cycle we in the mortgage [...]
Lower Closing Costs
Lower closing costs aren’t the result of merely going to the right broker or lender for your mortgage. There’s more to it than that. And there is one step you should take to help you pay a fair price for the work your lender or broker does to close your loan. This step is to [...]
Tips for Non-Traditional Loans
If you plan on applying for a more unconventional Loan such as an interest only or a no documentation loan, you’ll want to plan ahead and follow a few simple steps to improve your chances of being approved for the loan. It will also save you time and frustration in the process, if you’re prepared [...]
Lending Guidelines Continue to Tighten
It seems like a day doesn’t go by lately that we here at The Mortgage Guide don’t get an urgent message from our wholesale lending partners. Today it comes from Express Capital Lending. Important Announcement – Effective Immediately Due to current market conditions, Express Capital Lending will only be accepting new submissions for agency conforming [...]
Standard Lending Practices Tightening
If you’ve been shopping for a home loan recently, you may have noticed it seems to be a little tougher out there. For one thing, foreclosures have been on the rise across the country. This makes mortgage lenders rather skittish. They begin to more carefully scrutinize their borrowers. It’s a cycle we in the mortgage [...]
3 Eligibility Criteria and 3 Documents Required for Loan Modification
3 Eligibility criteria and 3 documents required for loan modification If you are facing financial difficulties making your mortgage payments, get help from loan modification program. Loan modification is an alternative to prevent foreclosure. Thus, it helps you to remain in your home by saving you from foreclosure. With the help of loan modification you [...]
FHA Refinancing Information
If you have considered an FHA mortgage, FHA mortgage center is a good place to start for information.
- 3 Eligibility Criteria and 3 Documents Required for Loan Modification
- A Great Credit Score Primer
- FHA Refinancing Information
- 6 Paths Down the Road to Foreclosure
- Home Equity Line Of Credit Primer
- Lower Closing Costs
- Lending Guidelines Continue to Tighten
- Tips for Non-Traditional Loans
- Standard Lending Practices Tightening
- Your ARM is Resetting
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