With everybody suffering from the economic downturn, it is no wonder that people are turning to inventive ways to stay afloat in these hard times. Some people are at their end try on how to stave off foreclosure proceedings and one way is to get fast track mortgagesThese fast track loans are actually remortgage loans designed to lessen monthly amortization payments by extending the life of the loan (called the term in banking industry). Fast...more
Taking out a mortgage on a new home is a very big step in your life. If you are obtaining a mortgage loan for the first time, there are a few things you should consider.Before you search for a new mortgage loan, you first need to know what type of loan is best for you. There are many types of loans available on the market to choose from. Some mortgages are very traditional and straightforward, while others might be a little more difficult to...more
Mortgage fraud is a growing problem throughout the United States. You want you the equity in your home to be more than the loan on your property. With the boom in the housing market there are those who will try to take advantage of this situation and try to get a quick profit. Here are some mortgage fraud schemes you should be aware of.The first is property flipping. This is when land is bought, wrongly appraised for a higher dollar value and then sold fast. The false appraisal information is what makes this kind of property flipping illegal. The illegal practice involves usually the following: fraudulent property appraisals, loan documents that have been doctored, inflating the income of the buyer, buyer kickbacks and kickbacks to investors, and property or loan brokers, and appraisers and to those who are working for the title companies.For instance a house worth $30,000 may be appraised for $90,000 or more in this illegal practice. Then there is what is known as the silent second. This is where a buyer of land borrows the money for a down payment from the seller by the issuance of a second mortgage that is not disclosed. The primary money lender thinks the person borrowing is...more
November's unemployment numbers in the United State were recently released and the news was not optimistic. The unemployment rate is still at 10 percent, down only .2 percent from October's 26-year high of 10.2 percent. Unemployment has affected almost every person in the country in some way, but can be especially detrimental to those who,...more
It goes without saying that the economy, including all activities in the financial sector, are rather volatile at the moment. This makes accurate predictions difficult to make. We at Krebs Financial have access to the information and analytical resources which give us some confidence in the following prediction about what mortgage interest rates...more
A commercial remortgage can help the borrower consolidate his bad debts, which in future, leads him to obtain loans at lower interest rates. However, opting for a remortgage can come as a result of many problems; a business might move in a headlong way, the owner might fall prey to fraudulent dealers/suppliers; his business partners might cheat on him, a business contract might not work out, the list is long and the problems are tough to handle. Coping with such problems however, is not as tough as it seems, there are options to cater to the needs of the borrower and help him get out of the ditch. Perhaps the best remedy is the one called commercial remortgage, which allows you to put up the commercial property of yours that you had collateralized before in order to avail a commercial mortgage. When you decide on commercial remortgage, it is advisable to consult a professional mortgage broker who will enlighten you with all the nitty-gritty of the remortgage deal; like it offers lesser repayment rates of interest as compared to the original commercial mortgage, and the borrower can avail less rates of interest afterwards. The most important thing for the borrower to take into...more
SELLER CONTRIBUTIONSA "seller contribution" is one of the best-kept secrets in the home-buying process. Thats when the seller of a home puts up some of the money needed toward the buyers closing costs. It can mean the difference between a sale of a...more
A lot of homeowners believe that once you have filed your application requesting your mortgage lender to modify your loan, it is then up to the lender to take the next step and their work is done. However, the fact is that even after you have filed...more
There are so many different lenders in today's market that sometimes it seems difficult to choose the best one for you. This is where you will find it is extremely helpful to have a mortgage guide to walk you through the process explaining the...more
We will be publishing all the details on how the Budget affects IT Contractors as the Chancellor speaks.1. Corporation Tax for Small Business will not now increase by 1p in the pound next year as planned. It will stay at 21% as opposed to the 22% it...more
For those prospective home buyers who are looking for a mortgage in Ireland, there are some interesting options available today. Like the rest of the world, the property markets in Ireland have been hurting a little bit, but things are starting to...more
To make sure that you're attaining the best mortgage rate offered in the market, it's necessary that you moreover get hold of all data on crucial costs implicated. Attaining the best mortgage rate is perceiving how much of a down payment you shall be...more