Oct 5, 2010
Ladies and gentleman there is light at the end of the tunnel for underwater and distressed homeowners looking to pursue a short sale! Starting January 1, 2011, a seller‘s first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale. [ read more ]
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Oct 1, 2010
The VA has created an Interest Rate Reduction Loan program called the Streamline Refinance. This provides a way for current VA homeowners to lower their interest rate with little or no out-of-pocket costs. These loans can also be made faster and with less documentation than a typical loan. [ read more ]
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Oct 1, 2010
What You Can Do to Improve Your Credit
Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following: [ read more ]
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Oct 1, 2010
10 Questions to Ask Your Lender
1. What are the most popular mortgages you offer? Why are they so popular?
2. Which type of mortgage plan do you think would be best for me? Why?
3. Are your rates, terms, fees, and closing costs negotiable? [ read more ]
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Sep 30, 2010
It is estimated that 60%-70% of homeowners who have modified a loan have or will go back into default within the first nine months and back on the road to foreclosure. This proves that many homeowners approach a loan modification with high hopes and realized only after completion, that it was not what they bargained for.
Why Loan Modifications Often Don’t Work
1. Modified loans often carry higher balances than the original loan… [ read more ]
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