Subprime lenders offer financing for people with low credit scores who don't qualify for a conventional loan. Subprime financing can be offered through traditional mortgage lenders like banks, credit unions, or mortgage lenders. There are also specialized lenders who only deal with subprime mortgages.Predatory lenders charge high fees, write loans in vague terms, and structure payments so they can foreclose on property. Predatory lenders take...more
If you have lived in your home for more than two years, it has probably appreciated which means that you have built up equity. What is home equity? Home equity is the difference between the value of your home and the amount of all that you owe on your home. If your home has an appraised value of $200,000 and all of the outstanding liens against it total $150,000 then your home equity equals $50,000. Often times when a home has accumulated value,...more
You can still refinance with bad credit, but you will need to shop around. Each refinance application is looked at on an individual basis. So even if you have bad credit, other factors could qualify you for a low interest rate. However, if you don't apply, you will never know.Reasons To RefinanceIf you bought your home with good credit, you probably found reasonable rates. But you still may be able to lower your rates by refinancing. You can also lock in rates by converting to a fixed rate mortgage.You can also lower your payments by extending the terms of your loan. You may also choose to tap into your equity through a cash-out mortgage. You can use your equity to pay off bills while writing off the interest on your taxes.Qualifying For RefinancingJust because you have poor credit, doesn't mean you can't qualify for refinancing. You can still use a conventional lender even if you have missed a couple of payments. And if you have sufficient equity, most lenders will look at your application.The government also offers programs if you have made on time payments on your mortgage. With the FHA's streamlined mortgage and the VA's IRRL, as long as you are reducing your interest rates,...more
Debt consolidation mortgage loans can help you lower your interest rates and monthly payments. With reduced rates, you can also pay off your debt sooner. However, reducing your equity could subject you to private mortgage rates. You may also end up spending more on interest payments by delaying payments.Saving With Mortgage Interest RatesMortgage...more
The following cover letter sample gives an idea of what most job hunters should do when composing these. It consists of only a very few paragraphs, and is therefore short and easy to read. The reason for this sample being short is simply because hiring managers are extremely busy and will not read long letters. They may glance at them, or skim...more
Saving money with lower rates isn't the only reason to refinance. Opting for a shorter loan can also save thousands in interest and free up income in the future. A short term loan can also help you pay down your principal quicker.Better RatesA 15 year mortgage has a better rate than a 30 year mortgage offered the same day - usually by a quarter of a percent. However, even if rates are the same as your current mortgage, refinancing to a shorter mortgage can save you thousands in interest by paying off the principal sooner. Your monthly payments will be slightly larger, but that is because a larger portion of the balance is being paid.Offers Self-DisciplineShort term loans make your decision to pay off your mortgage official. For those that have a hard time making extra payments on their mortgage, a short term mortgage may be the answer.It is helpful to first look at your long term financial goals. Perhaps you are planning to pay for kids' college tuition, to retire, or to reduce your debt load in the future. Decide when you want your mortgage paid off and look at the monthly payments. You can choose a number of periods - 15, 20 or 25 year home loans.Factors To ConsiderLow rates...more
"Public Relations is really all about communications tactics and publicity." Sorry, no. Whether you are abusiness, non-profit, government agency or association manager, PR actually is all about a high-impact action plan which does something...more
You can access your home equity without the cost of refinancing with two financing options. A second mortgage will give you a lump sum check with a fixed or adjustable rate. A home equity line lets you tap into your equity when you want to. Both...more
Using a thank you letter after interview practice will make interview practice seem real. Adding this sense of realism will do nothing but help you when it comes time for a real interview. You'll be comfortable and at ease and ready to present a...more
Falling victim to this #1 pitfall is the business, non-profit, government agency and association manager who fails to achieve the best that public relations has to offer. And that's because he or she is preoccupied with simple communications tactics...more
Debt plagues millions of people all over the world. Debt can be a positive thing. For instance, if we never had any debt we would never be able to buy a house or a car. Debt is necessary in many cases, but for some people it can get out of hand....more
Sub-prime mortgages don't mean you have to pay excessively high interest rates to buy a home. By taking time to do some research and pick the right terms, you can save thousands on your mortgage. The following five tips will help you get low rates...more