What You Need to Know About FHA Mortgage Loan
Posted by admin on October 16, 2015
Before going into the specifics of the FHA loan, it’s crucial to first
address the question: what is a mortgage? You might be surprised to know
how many people don’t understand the terms they signed up for, as
proven by the housing bubble that burst and left hundreds of thousands
of Americans homeless. In basic terms, a mortgage is a collateralized
debt you will take on to pay for your home. Once you default on payments
for a certain period, the bank can take away your home.
What is FHA loan and is it right for me?
The FHA loan allows for a loan downpayment, which makes it attractive
for first time buyers. Why would banks agree to lower the payments for
home loan rates? That’s because the loan is insured against default by
the Federal Housing Administration. Once you default on payments, the
FHA will owe the lender. In theory, nearly everybody can qualify for an
FHA since it doesn’t place a cap on income.
Mortgage Market Review and Its Impact For Borrowers
Posted by admin on October 15, 2015
Robin Hood was famous for robbing the rich to give to the poor and
you could be forgiven for thinking that today the very wealthy were
attempting the reverse that situation when it comes to securing the best
mortgage deals. It appears that there is one set of rules for some and a
different set of rules for others, with wealthier borrowers now being
exempt from certain legislation and criteria imposed on mainstream
borrowers. However taking a ‘one size fits all’ approach to lending
really benefits no-one and the main point of regulation is to protect
the best interests of each individual client.
The Mortgage Market Review focuses on “Treating
Customers Fairly” and trying to hard wire a more conservative, but
common sense, approach to all areas of lending. However, some of the
changes are indeed a bonus for high net worth borrowers.
Firstly, entrepreneurs (business people borrowing against their homes)
will enjoy far more flexible criteria and even be able to ‘opt out’ of
standard affordability checks providing they can offer a credible
business plan. However, if banks remain unwilling to lend then more
traditional alternative funding routes typically used by entrepreneurs
may still be the quickest and simplest option.
What Does It Mean – A Short Mortgage Glossary
Posted by admin on October 13, 2015
When you are seeking a mortgage it may seem that the process has a
language of its own. Many times there are terms used that can be
confusing or unknown, but are important things for a borrower to
understand. The following list contains some of the more common mortgage
terms and briefly explains them. It is not meant to be exhaustive by
any means and it is always important to make sure that you fully
understand any unknown terms you encounter. Don’t be afraid to speak up,
your lender would be more than happy to explain them.
Adjustable Rate Mortgage (ARM)
This is a type of mortgage with interest rates that can fluctuate based
on market conditions over the life of the loan. Typically an ARM will
have an introductory rate and a monthly cap on the maximum monthly
payment allowed.
Settle Your Debt in Carlsbad, California
Posted by admin on October 5, 2015
Many consumers across the Carlsbad area are concerned about their
mounting debt balances. When debt balances reach a certain level, it may
seem as though the outstanding balance owed simply grows on its own or
that the balance has stagnated. It may seem impossible to reduce the
debt balance through your own efforts. Through interest charges and late
fees charged due to your struggle to make the minimum payment on time,
you may barely see a dent in the balance from month to month. If you are
continuing to use an account to make new purchases, the balance can
easily grow. Those who have been struggling with their debts may
consider the benefit of debt settlement Carlsbad California from DAGonDebt.
DAGonDebt.com is a local leader in financial debt relief tools. When you visit this website, you can learn more about debt settlement Carlsbad California,
consolidation loans and other options available to you for debt relief.
Settlement is one of the most popular options available for those who
are struggling significantly with debts. Consolidation loans are often
considered to be an initial option to select due to the fact that a
consolidation loan will not trigger a negative event on your credit
report. However, for those whose credit has already been affected by
their financial woes or for those who are so heavily burdened by debt
that a consolidation loan will not provide effective relief, settling
debts may be the ideal solution.
With debt settlement Carlsbad California from DAGonDEBT.com,
a debt negotiator will contact your creditors to negotiate a reduction
in the outstanding balances owed. A portion of the balance owed to a
creditor may be written off. While this can create a negative event on
your credit rating, the long-term effects can be beneficial. This may
provide you with the ability to more easily pay off the balances on your
own by making regular payments to your creditors. In many cases, a
consolidation loan may be used in conjunction with settlement for
improved results. If you believe that you may benefit from debt relief,
contact DAGonDebt.com today to explore your options.
How To Find The Best Arlington Financial Services And Advisors
Posted by admin on September 24, 2015
Financial
services providers are those professionals who offer financial advice
addressing a client’s needs. With the ever increasing complexity and
demands of modern life in the Arlington, Virginia, area many people in
Arlington now seek professional guidance in order to create and secure
the future they desire. Because it is a broad industry, you will find
many financial services providers who are ready to help you. However,
finding the correct one ,the best one for you can be a challenging, even
intimidating task unless you go about your search in a logical way.
Today you will find a large number of sources you can use to locate and
screen Arlington financial advisors and find the best one for you. Let’s
have a look at some of the best sources that could help you find
Arlington financial services providers quickly and easily.
Browse Web Directories
Web
directories are one of the best sources. Online directories list many
firms segmented under different headings. You have the option of finding
various local Arlington financial services providers by searching
through categories pertaining to the types of financial services you
need. In such directories, finding the right financial services
providers is much easier because they are listed in a systematic order
followed by popular listings and featured listings. A good feature is
that they directly link to the sites of financial services providers so
that you can gather detailed information directly from the financial
services provider’s website.