The Federal Housing Authority or FHA does have modification options available. However, these are not easy modifications to qualify for.The FHA HAMP modification eligibility requirements:How do I know if my loan is a Fannie Mae or Freddie Mac owned? You can visit www.makinghomeaffordable.gov webpage and click on loan look up.1). 1-4 unit primary home (FHA insured)2). You are at least 1 month behind but are not over 12 months...more
Our office often receives calls from potential clients who are caught by surprise when a savings or checking account is frozen and the funds are unable to be accessed as a result of a creditor's collection efforts. As a West Palm Beach bankruptcy attorney and lawyer I am often contacted to assist these potential clients to regain control over their accounts. Most people do not realize that many financial institutions have a right...more
HELOC means a kind of home equity line of credit. One of the major differences lies in the fact that with the average home equity loans, all of the money is available outright. With a HELOC, a line of credit is established and the borrower can take out sums provided that they don't exceed the credit limit similar to a credit card. Unexpected medical bills, home renovations and education, rather than day-to-day expenses, are the primary reasons people use home equity loans. The borrower's investment in his or her home is the main collateral for a home equity loan in which a term period is determined within which the borrower must pay back the amount in full.The interest charge on a HELOC is variable, not like a traditional loan. The prime rate index is normally the determining factor for formulating the interest rate and it often does vacillate over time. An additional significant factor concerning the different ways lenders calculate the margin, is the difference between the prime rate and the interest rate the borrower will actually pay.Those in the lending industry consider a HELOC to be the equivalent of a second mortgage. Because of the fact that some ten years...more
Most first time home buyers are very happy and eager to get into their new home, but the process of getting into the home can be quite a tedious task. The more prepared you are to get into your new home; the smoother the transaction will go when you're going through the process. You need to have all of the documents that you need...more
If you are looking to buy a home whether it is your first time to do so or not, the first thing that you will need to do is get your mortgage. There are some things to consider about the facts of getting a mortgage such is how you will apply for it, and the most important things that you will need to focus on when you apply for the...more
You have probably heard a lot of hype about payday loans. They have certainly become extremely popular as of late. The popularity of these types of loans has soared even more so online. A payday loan is a short term loan that is borrowed against your next pay check. Most companies will grant the borrower from 2 weeks to 30 days to pay back the loan and interest fees. There are companies that offer free payday loans available on the net. What is a Free Payday Loan? A free payday loan is a type of loan that gives the customer an interest free payday loan. There isn't any interest added to a free payday loan. How do Free Payday Loans Work? As I said earlier there's no interest on the amount borrowed. There are certain limitations though. Fees and interest will be applied to the loan unles it's paid back by the due date that is set when you borrowed the money. A free payday loan is only available to first time customers. After you borrow the first time, there are no more freebies. How Can I Qualify for a Free Payday Loan? It must be your first time borrowing and you will need a checking account. In most cases you will need to have a pay...more
Many companies think that in this day and age it is hard to find mortgage leads. Mortgages are becoming more and more difficult to acquire since the new laws came into effect after the economy crashed. However, new homes are being...more
While it is important to understand your foreclosure rights, it is equally important to understand what the rights are of your mortgage company. That way you know what is coming and it can make it easier to prepare yourself. The most...more
The battle to save Russia's Pavlovsk seed bankScientists and conservationists are waging an international campaign to save Russian botanist Nikolai Vavilov's Pavlovsk seed bank from being turned over to housing developersRussia launches...more
If borrowers cannot meet the requirements of traditional lenders, they resort to getting private money loans. This type of loan is better known by many as hard money loans. Usually, people who are struggling for their properties that...more
What makes a private money loan a better option to the borrowers is the combination of short repayment schedules and high interest rates. Usually, these types of loans are greatly liked by people who need money for emergency.Basically,...more
If you're looking to pay off your mortgage early, you may have heard of mortgage acceleration plans. These plans are designed to help you pay off your mortgage faster than the set 30 years.- Heloc RatesOne program is relatively new in...more