----------------------------------
-----------------------------------
What interest rate are you qualified for? Well, that depends on whether you are trying to refinance or get a loan modification. I’ve spoken to many borrowers that are pursuing a loan modification because they feel their interest rates are high. They also feel they should be approved for the best rates offered under refinancing guidelines. That’s not how it works. In fact, if you are pursuing a loan modification, you could very well be approved for an interest rate well below the current market rate.
(more…)
-
Loan Modification: Can an Ebook help? Loan Modification ebooks: A waste of money? Believe it or not, Loan Modifications may still be in it's infant stage. Most banks have only just started doing loan modifications back in 2006 or 2007 and... - Loan Modification: Mortgage relief or grief? What homeowners go through while waiting for their permanent modification... This article tells it all: Chase Modification Process Unfortunately, what this couple has already gone through is exactly what hundreds of thousands of homeowners across America...
- Hardship Letter Hardship Letter Guidelines I've read several blogs on the internet on what a hardship letter is and how you should write a hardship letter for a loan modification. A hardship letter for a loan modification...
-
Steps to a Home Loan Modification with Bank of America Loan Modifications seem to be the last hope for a number of homeowners across America who are struggling with their mortgage payments. This is ever more clear with the rising foreclosures that is expected to... -
Obama's Program: Better or Worse? The Obama Program or The Making Homes Affordable (MHA) was introduced by Obama in March 2009. Is this program making things worse? Watch this clip. What do you think? The graph below illustrates how poorly...
- Spenders Get the Gold Mine, Savers Got the Shaft Some of you may be old enough to remember Jerry Reed of "Smoky and the Bandit" cinematic fame. Sadly, Jerry died recently, leaving a musical legacy that includes his 1982 classic "She Got the Gold...
- When An Adjustable Rate Mortgage Isn't Financial Suicide The credit crunch has made borrowing unfashionable and I'm sure I will be viciously attacked for this, but yes, the much-maligned adjustable rate mortgage does have a place in post-crash society! That's not to say...
- Why Is Interest Tax Deductible? Did you know if you were a company and borrowed money that the interest you pay is a tax write-off? So imagine you borrowed $1 million to finance a new project and had to pay...
- Introduction to Mortgages pt 3 of 5 This is part three in a five part series on what you need to know about mortgages before you buy a home. The housing market is an interesting beast, because it comes and goes, rises...
- First Time Home Buyer's Guide To Fixed Rate Mortgages It's easy for a first time home buyer to get lost in translation when swimming in the sea of mortgages. Common questions of first time home buyers are "what mortgage is right for me? What...
