Quit Claim Deed And Mortgage Scam
When you sign over your property to someone else using a quit claim deed, you're only transferring ownership - you're still responsible for the mortgage. Even if the person who you're naming on the quit claim deed promises to make payments on your mortgage, there's a risk he or she won't. And since…
'Extreme Makeover' Home Foreclosure
Homeowners in Atlanta's Lake City area may soon lose their home to foreclosure.
They were among the first to get their home remodeled on the TV show "Extreme Makeover: Home Edition," according to Atlanta area media.
Apparently they took out a $450,000 mortgage on the 5,500 square foot home to finance…
Keep In Touch With Lenders During Loss Mitigation
As a homeowner, if you find yourself in loss mitigation, it's important to be in constant contact with your lender during loss mitigation. You'll be in the strongest position if you call your lender before you've been late on a payment. The loss mitigation process may be able to help you save your…
What Does Your Credit Score Really Mean?
Personal finance magazines and TV shows often tell you to raise your credit score and that you need a good credit score to get a mortgage loan with a good (low) interest rate. You may even know what your credit score is. But do you know what it really means? Credit scores tell lenders and businesses…
Quit Claim Deed And Mortgage Assumption
Managing real estate from out of state can be difficult. You may be able to get a family member to agree to take over mortgage payments on a property that you own but your name remains on the mortgage loan unless that loan gets refinanced. A quit claim deed transfers property ownership rights but…
Choosing The Right Mortgage Loan
Learn about mortgage basics including two common types of mortgage loans and what it takes to qualify. Your credit score will have an impact on what kind of mortgage loan you can get. Being informed about your credit score and your options will help you get the right mortgage for you.
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"The damage has been as bad as anyone imagined so far," writes Demos senior fellow James Lardner. "Foreclosures, after roughly doubling in the past year, are running at a rate of close to 25,000 a week. That's an alarming figure in…
Mortgage fraud is a given in the marketplace whether times are good or bad, but recently mortgage fraud seems to have exploded into the public conscience. While information about mortgage fraud seems to be everywhere it can still seem unclear as to what exactly mortgage fraud is.
What can you the consumer do to protect yourself from falling victim to mortgage fraud? Learn some ways to figure out if your lender is trustworthy and steers clear of mortgage fraud.
Mortgage Lenders And Mortgage Fraud
What can banks and mortgage lenders do to protect themselves from falling victim to mortgage fraud? How do they protect themselves mortgage fraud? The best way for mortgage lenders to protect themselves from mortgage fraud is to practice identity risk management.
Mortgage fraud is fast becoming a nationwide problem. Florida, Nevada, Michigan, California and Utah topped a recent mortgage fraud list. The mortgage fraud report illustrates that mortgage fraud is now nationwide, and no longer just concentrated in California, Florida, Texas and several high…
Pacman Jones Loses Home to Foreclosure
Former Tennessee Titan football player Pacman Jones, who recently said he wants to be called Adam, will lose his Nashville area home on June 27, when it's put up for sale by his lender.
The home will be sold in a foreclosure sale at the courthouse.
Jones failed to meet the terms and conditions of his…
Bad Appraisal Of Home Value Leads To Loss Of Earnest Money
Mortgage lenders require appraisals before issuing home loans. What happens if the home you want to buy appraises lower than what the seller wants? It depends on the contract. The buyer may lose his earnest money if the home does not appraise out and the seller is unwilling to lower the price. It's…
Estate Planning Includes Transferring Title To Real Estate
As parents, you may decide you want to pass on your real estate holdings to your children. To figure out the right way to pass along property, without incurring excessive taxes or mortgage liabilities, you should do some estate planning with the help of an estate attorney and accountant. When you…
The FBI released its annual report (http://www.fbi.gov/publications/financial/fcs_report2007/financial_crime_2007.htm) on the state of financial crimes in the U.S. last night. As you might expect, it's not a pretty picture.
According to the general overview, there has been a spike in the number of…
Mortgage Requirements Stricter For First Time Home Buyers
Mortgage requirements have become stricter for first time home buyers. Lenders have tightened credit requirements for first time home buyers, making it more difficult to qualify for a mortgage loan. To qualify for a mortgage loan, first time home buyers need a credit score of at least 660 unless…
ThinkGlink Radio Show for May 4, 2008
Today on the Ilyce Glink Show, Ilyce ran down some of the ways loan options will be restricted, thanks to a new set of guidelines that has just been published by some of the country's top lenders. She answered questions about whether to go through with a new construction purchase, and talked to a…
Choosing The Right Mortgage Lender
How can you choose the right mortgage lender? Ask friends and family for mortgage lender references, interview the mortgage lender and make sure the mortgage lender does meticulous underwriting.
Renting Out Property Subject To Foreclosure
Is it legal for a rental property owner to rent a property that may be subject to foreclosure? A tenant should be given notice that the rental property is the potential subject of a foreclosure lawsuit. The landlord should also be using the income from the rental property to pay his mortgage lender…
Mortgage Lender Won't Send Good Faith Estimate
A mortgage lender approves a borrower but does not say it in writing. The borrower calls and writes the mortgage lender. The mortgage lender does not respond to the borrower. What can the borrower do?
What should you do if you've bought a retirement home but haven't yet sold your current home? If you don't sell the home, you could be forced into foreclosure if you can't pay both mortgages. You may need to ask your mortgage lender to allow a short sale as full payment.
Foreclosures On Rise And Mortgage Lenders' Solution
In early 2008 foreclosures were increasing which furthered the housing market slowdown, but what are solutions that mortgage lenders are coming up with? Foreclosures are forcing private mortgage lenders to pay out millions of dollars. Mortgage lenders are trying to help homeowners who are currently…
Talk To Mortgage Lender To Prevent Foreclosure
To prevent foreclosure you should pay your mortgage on time and in full every month. Preventing foreclosure should be a high priority because losing your home hurts your credit. There are steps you can follow to prevent foreclosure.
Project Lifeline Buys Home Owners 30 Days
Can't pay your bills? Call the government. It'll take care of you.
Treasury Secretary Henry Paulson and Housing and Urban Development Secretary Alphonso Jackson announced Project Lifeline today. It's a program designed to help homeowners facing foreclosure.
Six mortgage lenders have agreed to stop…
Foreclosure Last Option: Call Your Mortgage Lender If You Miss Payment
Many homeowners who struggle to make payments don't realize by calling their mortgage lender they may be able to avoid the foreclosure process. Contact HUD or your lender to learn about the foreclosure process and what you can do to avoid foreclosure if you can't make the payments. You may be able…
