When interest rates drop lower than your mortgages current rate, you may consider applying for a refinance. If you want to refinance your mortgage, you will have to meet many of the same qualifications that you had to meet when you applied for the initial loan.The exact requirements vary from one lender to another, but most lenders will consider the same items when determining whether or not to approve your application. In some cases, a lender...more
Nowadays Apartments becomes the most useable property type across cities in India. An Apartment’s lifestyle delivers happiness and lowers stress lifestyle to every family. Apartments structure is built with pure construction materials in a manner way. Every flats or Apartment offers many modern amenities such as a tight security system, modern tiles or floors, new lighting appliances, and a luxurious interior.Most of the families are facing...more
If you have missed a mortgage payment or if you are more than 60 days past due, you may be heading for troublesome waters and even a possible foreclosure. The delay in making the payment will reflect badly on your credit score rendering you ineligible for refinancing. In such a situation home loan modification may be the only way to save your house.Today most lending institutions are not keen on foreclosure simply because they have to spend on the foreclosure proceedings and there are no buyers in the market. So essentially even after foreclosing the house they cannot recover their dues. On the other hand a mortgage modification is a 'win-win' solution for both the lender and the borrower. The lending institution can be reasonably sure that they will be able to recover most of their principle amount after granting the home loan modification and the borrower can be sure that the monthly mortgage payment will be more affordable.When you request your bank to grant you a mortgage modification you are essentially stating that you are in financial trouble and so you will not be able to meet the monthly mortgage payments unless the amount is brought down to a more affordable level.You...more
A home loan modification is by far the most feasible, cheapest and the easiest way to get yourself out of an imminent foreclosure situation. Actually if you opt for a mortgage modification and if it is granted things won't go so far. The best time to start considering a home loan modification serious is when you find it increasingly difficult to...more
With unemployment rates rising to unprecedented levels and the number of foreclosed homes skyrocketing, mortgage modification seems to be the only reprieve in sight for home owner's trying to save their homes. Even though refinancing is also an option, in this day and age of uncertainty weary lending institutions are demanding nothing less than the...more
If you are one of the thousands of homeowners facing the risk of foreclosure there are several recourses in front of you. You could short sell your home, accept foreclosure as an imminent fate, consider refinancing or opt for home loan modification. Of these mortgage modification is by far the most feasible solution that can not only help you to save your house but will also bring down the amount of your monthly mortgage payment.When you approach your bank with a request for home loan modification they will ask you to write mortgage modification hardship letter. This is a very important document and how well you write it will determine if the home loan modification is granted or not. So it is essential to know what to include in the mortgage modification hardship letter of you need help.A hmortgage modification hardship letter can be written for various reasons you could be seeking a temporary reprieve from your mortgage payments, or perhaps you are asking for a forbearance period. You could also write the mortgage modification hardship letter to ask the lending institution to rework the terms of your existing loan in such a way that your monthly payment is brought down.Your home...more
Have you missed a mortgage payment? Are you more than 60 days late in making your monthly mortgage payment? If the answer to any on of these questions is a 'yes', a foreclosure is a real possibility and the only option to save your home is home loan...more
Home Loan Modification is by far one of the most feasible options for preventing a foreclosure. And even though the procedure isn't overtly complex people still find it difficult to avail the benefits of this option. The key to successfully procuring...more
Conveyancing is a term used to describe the whole of the process of selling a property on the open market, executing an agreement to sell and buy, and then transferring ownership of the property from the vendor to the purchaser. If you buy or sell a...more
Buying off-the-plan real estate is often pitched by marketers as a win win investment But, how safe is buying property sight unseen? Leading Melbourne Mortgage Broker What If We Finance provide some advice below for you to consider.Certainly people...more
Over the past several years, we all know that the mortgage industry, and the entire credit industry worldwide, was going through a lot of turmoil. However, there was one lesser-known area of the financial market which continued to be dynamic and...more
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