When choosing a good mortgage lender, whether you choose a mortgage broker or a mortgage banker, you’ll want someone who can do the job right. Finding a lender who will take the time to make sure you understand the different loan programs being offered, and will help you decide which loan best meets your needs is key to having a smooth closing. Check out the articles, columns, blog posts, radio shows and videos for more information about mortgage lenders.
HELOC: Keep It Active To Stop Termination
In a poor economy, banks and mortgage companies shut down home equity lines of credit or HELOCs. What if you need to use your HELOC to cover every day expenses when your income declines? Ilyce suggests keeping your HELOC active by paying fees and drawing on it before the bank decides the HELOC is inactive.
Notify Mortgage Company When Changing Status Of Second Home
Mortgage companies often issue loans contingent upon how the home will be used -- will it be a primary residence or a second home? Do you need to notify your mortgage company if you decides to change the status of a second home? In some cases mortgage loan documents contain a time limit for notifying mortgage companies about home status changes.
Contractor Files Lien To Get Payment For Work On Home In Foreclosure
Can a contractor collect payment from a mortgage company that owes for work on a fire-damaged home that has since been foreclosed on. The contractor nearly finished the work and then the mortgage company foreclosed on the home and halted payment to the contractor. Can the contractor file a lien to get the money he's earned working on the home that has since been foreclosed?
Seller Financing Risks Require Due Diligence
A home owner asks about offering seller financing on a home he's selling. He wants to know what's involved in seller financing and who to involve in the transaction. First he needs to assess whether a potential home buyer will make the home mortgage payments and what to do if the buyer later stops making payments. When a seller sells a home with seller financing it's as if the seller becomes a mortgage lender or bank. That means the seller may have to be willing to foreclose in an owner financing situation.
What Mortgage Lenders Require Of Borrowers In A Declining Market
Qualifying for mortgage loans has changed completely over the last year. In a declining market, what do mortgage lenders require? Listen to what one southern California expert says about appraisals, mortgage loans and today's real estate market in this Expert Real Estate Tips segment.
Hank Paulson’s Statement Today on the Credit Crisis
This is unfiltered Paulson October 8, 2008 Statement by Secretary Henry M. Paulson, Jr. on Financial Markets Update Washington, DC-- Good afternoon....
Countrywide/Bank of America to Settle Largest Predatory Lending Lawsuit in History
Today's $8.4 billion settlement covers about 400,000 borrowers in 11 states. But Bank of America is hoping that it can reach a settlement with borrowe...
Two More Filings
We'll start to post these as we see them, courtesy of the Stanford Securities Class Action Clearinghouse securities.stanford.edu/ DIGITAL LAW PROJECT ...
$700 Billion? Are You Serious?
The email was sent out from Treasury at 7:03pm last night. Treasury Secretary Henry Paulson is asking for $700 billion to bail out the bad mortgages s...