No one wants their dream of being a home owner to turn into a nightmare. However, with the mortgage payment is the biggest payment in the budget, it can happen to anyone if they are …
Most married couples apply for mortgages in joint names. Two incomes are better than one in the eyes of the lender and they assess joint incomes when determining how much to lend. The most common …
Mortgage payments often represent a hefty proportion of monthly income, which may become an increasing burden on homeowners. Many experience the switch from a fixed rate to an adjustable rate as an initial offer expires, with …
Graduating from college will typically leave the majority of students with a massive pile of debt to contemplate which can appear to be a daunting task. It needs to be addressed head on and reduced …
Many people think that a fast Christmas loan is the answer to having a fabulous Christmas, filled with lots of nice gifts. These loans are easily accessible to nearly anyone, and they are quick. The …
Owning your first home is the American dream. A place to call your own and the time to stop forking out ‘dead’ rent money to landlords. It is a good dream and a worthy aspiration, …
To fix or to ARM are the primary choices which borrowers face when selecting the mortgage loan to suit individual requirements. Adjustable rate loans are known as ARMs in America and variable in the U.K. …
When it’s the right time to buy your first home it is bound to be exciting looking at the type of property on your wish list. It’s just as important though to give careful consideration …
Aspiring home owners often give far too little thought to the mortgage they select. A mortgage may be perceived as a dull and necessary means to secure a dream home, and not enough importance is …
Bridge Loan (gap financing or swing loan) provides the necessary financial resources or money, to secure a short – term loan, usually under a year, from a financial institution or bank. The financing provides the …
If you need finance after bankruptcy and you can not provide any form of collateral it can be really difficult to get approved for a loan. There is however an alternative to boost your chances …
Lenders try to look very carefully at the credit risk of their borrowers in the hope of predicting whether the borrowers will default on the loan. People with very good credit, or the absence of certain …
Most people with student loans choose to keep their loans around for the tax break or because it has a low interest rate. However, why would you want to do this when you could pay …
When you first buy a home, the requirement to refinance is not usually on your mind. As time goes by, life changes such as promotion in your job, loss of a job, the birth of …
One of the biggest issues in the real estate market is foreclosure. Not everybody understands the meaning of foreclosure but it basically means that if you have a loan secured against your home but fail …
Short sales emerged in early 1990 and since then, with the easy mortgages and the booming real estate market, they have been out of use, or at least written about but little. Now, with the …
A mortgage is a financial contract between the lender and the borrower. Mortgages are tailored to the individual and the precise terms and conditions given will be dependent on many different factors, such as the …
There are a number of schemes that can be taken out to fix your mortgage rate. a) Fixed rate schemes. These work by holding the interest rate at a stated rate for a given period, …
Foreclosure recovery scams are marketed to homeowners as “foreclosure rescue”. While sounding innocently magnanimous, it is neither. These scams are fraud. The Scam Artist These crafty creatures will send some warning signals they are not …
Can you refinance your student loans? Yes, but be careful, it can cost you a great deal of money. So you graduated college! Congratulations! Now all you have to do is pay back the estimated …
Should Payday Loans be Legal? Yes, payday loans should be legal, especially in these economic times. More and more people are turning to payday loans for their quick processing turnaround, unlike personal bank loans. …
Subprime mortgages are devised specifically for those with bad credit who have no access to the prime market due to bad credit histories. Many subprime products have prime lenders backing them that do not want …
Bad credit cards for people with bad credit proliferate, strongly marketed by sub prime lenders to those desperate to obtain a credit card at any cost. In February 2010 I documented a credit card issued …
Your goal as a potential home owner, is to find a mortgage program where the mortgage payment will fit your budget. Since the early 2000’s to 2004 time period, mortgage underwriters guidelines have considerably tighten. This …
When it comes to choosing a mortgage it pays to be informed about your options and which type of mortgage works best for you and your finances. Recently the Federal Reserve called for a change …
My experience with government loan programs for financing education has been one of mixed emotions. Coming from a lower income family, my situation dictates that I would be completely unable to attend university without an …
Foreclosures are all too common place, leaving often desperate homeowners to face a long battle to rebuild their credit scores. Foreclosures can severely damage credit scores, yet there are many variables surrounding their long term …
No matter the borrowing need there is a loan to fit the situation. When there is no available collateral an unsecured loan will allow the potential borrower access to a loan without having to place …
In the early part of this decade second mortgages grew rapidly in popularity. They were a great way for home buyers to borrow more than 80% of a property’s value without having to pay mortgage …
When a party with a security interest in property seeks to seize and sell the property, the process to do this is called foreclosure. There are several different types of foreclosures, and the method that …