One type of mortgage rescue scam involves a predatory “real estate investor” stealing the equity a victim has built up in their home. Typically, the scammer will tell the victim they want to help save the home from foreclosure. This “real estate investor” will tell the victim he or she will buy the house personally, or will arrange to have…
Category: Mortgage
4 Reasons Why Good Mortgage Lead Management Is Essential
Lead management is one of the most important and time-consuming activities for companies. Despite the issues many firms have in its implementation, good lead management can act as a significant competitive advantage. This has particular significance for lending companies where an experienced mortgage agent can make good use of mortgage lead management tools in the following ways: 1. Increased conversion…
The Perils Of Plastic
Millions of credit card borrowers are about to face larger monthly payments, a change that represents both good news and bad for consumers. Under new guidelines suggested by the federal government, starting in January minimum monthly payments for credit card debt will generally increase. Many mortgage lenders will no longer require payments equal to 2 percent of the debt, an…
Reverse Mortgages Funding Retirement
With people living longer and longer, funding retirement can become a stressful situation. Reverse mortgages can help home owners avoid worries about cash flow. Reverse Mortgages Reverse mortgages are essentially a method for turning the equity in your home into cash. Although there are various options, a typical reverse mortgage will provide you with a lump sum, monthly payments or…
How To Find The Best Mortgage Protection
Once you have decided to protect your family’s future by purchasing mortgage protection coverage, the next thing you will have to do is find the best mortgage protection insurance policy for your needs. There are many different mortgage protection choices, with widely varying premiums and benefits. Before you select a mortgage protection policy, be sure to thoroughly research each option…
Issues To Consider When Refinancing A Mortgage
People looking to have some extra money often look to refinancing their mortgages. Doing such a thing can lead to a lower interest rate and cash in your own pocket. However, there are some things to know prior to considering this. Issues To Consider When Refinancing a Mortgage First of all, it is important to know that most of the…
Mortgage Refinance Tips Determining Your Income
When you apply for a refinance, debt consolidation or purchase mortgage, one of the most important factors in qualifying for the loan is your income. That may not seem like much of a surprise, but you may be surprised at all of the different ways your income can be calculated based on how well you can document it, and how…
Mortgages And Loans Islamic Finance Avoids Interest
Two million Muslims in the UK face an ethical dilemma if they want a mortgage or a loan. Conventional mortgages and loans all require the payment of interest and “riba” as interest is called under Islamic law, is forbidden by the Koran. British financial institutions are increasingly catering for Muslims’ specialist needs through a number of alternative arrangements that respects…
100 Financing Or No Down Payment Bad Credit Mortgage Loans
Sub-prime lenders now offer financing packages with zero down. Interest rates are higher on these types of loans, but they make purchasing a house easier. And unlike a conventional loan, there is no private mortgage insurance required. There are two types of zero-down mortgage packages, each with their own requirements. Types Of Zero-Down Loans 100% financing, as it names implies,…
Endowment Mortgages
What Is An Endowment Mortgage? An endowment mortgage, in theory, is supposed to lower your mortgage payment. Ideally, endowment mortgages are much cheaper than standard mortgage policies such as repayment mortgages. When you get an endowment mortgage, you pay only the interest on the amount borrowed. In addition to this, you pay an addition small sum into a policy that…