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Foreclosure Scams To Be Aware Of
Homeowners facing foreclosure should be aware of unscrupulous lenders and scammers. Don't get me wrong, most lenders and agencies are reputable and legit. However some lenders, commonly second mortgage issuers will use unethical practices that increase the risk of nonpayment by the borrower. These tactics may include lending a large amount in hopes that the borrower will not be able to keep up with the payments, charging outrageous interest, points or fees. They may also repeatedly refinance the loan without any real beneficial reason to the borrower. Homeowners facing foreclosure are often targets of these scammers because they are seeking any solution possible at the time.
One of the most common tricks is an "equity skim". What is equity skimming? This is when a buyer approaches you and offers to get you out of foreclosure buy paying off the mortgage or offering money when the property is sold. They will often suggest you move out quickly and sign the deed over to them. They will then collect rent from the property and fail to make payments on the mortgage. The lender will continue the foreclosure process and foreclose. Signing over the deed does not mean you are no longer obligated to make mortgage payments.
Another trick scammer's use is to set up a "counseling" agency. They may contact you offering to do certain services for a given fee. Often times these are thing you can do yourself for free. It is important to note that most services are legitimate and will provide lots of great help.
So what do you do if you suspect you are being duped? The most important things is don't sign any documents unless you fully understand what you are signing. If the party you are dealing with makes any sort of promises make sure they are in writing. If you arrange a contract of sale loan assumption make sure you know weather or not you are released from liability of the debt. Consult with your attorney before agreeing to any deal that involved your home. Should you decide to sell your home to stop foreclosure, have a look at any possible complaints pertaing to the prospective buyer.
Mark Lambie is the owner of Stop Home Foreclosure a website for helping people facing foreclosure.
Refinance Benefits - Refinancing Could Save You Money
The most common reason most people refinance is to save money, but many people refinance for various other reasons.
Home Loans ? Would You Buy a Home Without an Inspection?
The housing market has exploded, with home prices rising beyond all reason in some markets. Home prices have doubled or tripled during the last five years, and in some cities, the asking prices for homes are considered only to be suggested opening bids. Homes often sell in a few days or even hours, and would-be buyers are tiring of losing out to higher bidders. In order to achieve an advantage over other bidders, some people are offering to buy homes without a professional inspection. What do they gain from such an offer? Is declining an inspection an OK thing for a buyer to do?
Doing a California Refinance Online
Californians are passionate people. I know. I have lived in California my whole life: From the smoggy basins of Los Angeles, to, well, the smoggy basins of Sacramento. I've traveled highway 101, I've smelled the glory of the Redwoods, and I've experienced the confusion of the Terminator becoming governor. Without turning into a pop-song, I've done it all California-style, and that even includes, moving through the exciting process of doing a California Refinance Online!
Refinance Your Home Mortgage Online
The largest financial obligation most people ever take on couldn't escape the reach of the Internet. Home mortgage loans originated online comprise an integral part of one of the largest and most profitable aspects of the banking industry. Unlike many shifts in big business recently, this change actually seems to greatly benefit consumers by increasing competition and placing more financial control in the hands of homeowners.
Residential Mortgages ? a Step Ahead on the Property Ladder
Doesn't Residential mortgage give the impression that they are a different breed of mortgages? They are often thought at the first instance to be a complex term, which they aren't. They are actually the regular mortgages that we hear of so often.
Home Mortgage Interest Rates: How to Compare
Whether you are looking to purchase your first home, sell your current home and purchase a new one, or you are wondering whether or not you should refinance your existing mortgage, it is beneficial to compare current home mortgage interest rates from several companies to be sure you get the best deal possible. They can be researched very easily online, and you can tailor your search to give you accurate rates based on the state that you will live in, whether you are buying or refinancing, and the amount of the loan.
Home Loans For People With Poor Credit - Understanding The Requirements For a Subprime Mortgage
Home loans for people with poor credit demand that you understand the requirements for a subprime mortgage loan to get the best rates and terms. By satisfying the requirements, you can be assured of securing a subprime mortgage to buy a home.
The Power of a Home Equity Loan to Pay Down Debt
Households across the country are finding themselves in a similar situation. They lack the financial funds to make the necessary changes to their home and need to find a way to fund upgrades and eliminate debt. A popular way of financing these changes without killing themselves is by taking a home equity loan to pay down their debt.
I Have A Slice of the American Dream and It is a 30 Year Nightmare
Well, we did it. We are buying a beautiful, brand new house, planning our wedding, and getting ready to move. The cramped trailer we have lived in will just be a memory. The house we are buying is a 4 bedroom, 2 1/2 bath, 2 car garage slice of the American Dream.
Why Choose a Home Equity Loan?
There are many reasons for choosing a home equity loan. A home equity loan allows homeowners to obtain a loan in addition to their original loan using the equity in their home. Home equity loans are generally a second mortgage, and are used for personal use.
Refinance Mortgage Loan ? Tips on Refinancing Your Home Mortgage
Refinancing your home mortgage can come with some great perks. If you do it with no money out of pocket, you can skip one to three mortgage payments. You can save money on your payment or pay off your entire mortgage faster when you have better terms. Here are a few things to pay attention to when you refinance your mortgage loan, to make sure that you don't overlook anything that you might regret, or that can cause you problems later:
Carolina Mortgage Loans
You're selling your home and are looking to relocate to the Carolinas. While researching homes in your new community you discover that you do not know of any mortgage lenders in the area. Your realtor is pressuring you for some answers. The solution? You turn to the internet and discover Carolina mortgage loans are available right online.
Save Time With a Bridge Loan
Why You Need a Bridge Loan
Life of an Escrow
Escrow is one of the last stages in the purchase or sale of a real property. When someone says that they are in escrow, it means that they have either accepted an offer on the sale of their property, or their offer to purchase has been accepted. The offer to purchase agreement is the instrument that is first signed by all parties before they "go to escrow".
Home Mortgage Loans For People With Bad Credit
Getting a home loan with bad credit has actually never been easier than it is today. Here are some tips to help improve your chances of success:
Refinancing Your Mortgage Can Open Up A Lot Of Options For You And Your Family
It can happen to anyone, the roof is leaking, the credit card bills are pilling up and it is almost time for a new car. But where are you going to get the money to do all of these things? The need for extra cash can be very frustrating and worrisome, however if you are a home owner you have a variety of financial options available to you that you may not even be aware of. You should look into refinancing as a viable option to solve your financial worries.
Home Equity Line of Credit ? Great for Remodeling Projects
Many homeowners are lucky enough to find a house that represents exactly what they want in a home. They buy it, make the payments on it, and live more or less happily ever after. Others are not so fortunate. Some buyers who live in a pricey market may have to settle for less house than they need, hoping to find a solution to their lack of space later. A third group of buyers may find that their housing needs change over time, as their family size increases. What can be done in these situations?
To Refinance or not to Refinance -- Here is the Answer
I have written many articles on refinancing a fixed rate mortgage to an adjustable rate mortgage. I have helped people cut as much as $800 off their monthly payments by turning their high fixed rate mortgage loan into a much lower ARM. This may be the time, however, to put the strategy in reverse, especially if your adjustable rate mortgage is coming up on the adjustment period.
Bad Credit? Qualify Yourself For A Zero Down Mortgage Loan
I decided to write this article today after closing a home purchase loan for a couple that had some major credit issues. They got into the house with ZERO down payment, and only had to bring $600 for the closing costs. Their situation was pretty bad, I'm talking about a bankruptcy 2 years ago, thousands of dollars in outstanding collections, charge-offs and debt to income ratio of 49%. By the way, we left all of their outstanding charge-offs and collections open which means they didn't have to pay any of them off! So many think they won't be able to qualify for a mortgage loan. Many will keep thinking they can't qualify until they read this article.
A Guide to Finding the Cheapest Home Improvement Loan
To find the cheapest home improvement loan that you can, you need to realize that there are a lot of factors that can affect the amount that you pay.
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