mortgage advice

Posted on: Monday, May 3, 2010
How To Avoid Mortgage Pitfalls
How To Avoid Mortgage Pitfalls
By Nick Messe
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There comes a time in just about everyone’s life when they will try to obtain a mortgage. Becoming a homeowner is part of the American dream, but sometimes the excitement gets in the way of paying attention and not really understanding the type of mortgage you are getting. This is basically why there is now [...]

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Posted on: Monday, August 24, 2009
Who Will Answer the Phone?
Who Will Answer the Phone?

When it’s time to find help with your mortgage, start by calling your servicer directly or a firm it has hired to deal with the public. You should not have to pay anything up front to get assistance.

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Posted on: Thursday, August 13, 2009
If Keeping Your Home Seems Hard, It Is
If Keeping Your Home Seems Hard, It Is

If you get a call or a letter that offers help with your mortgage, look into how legitimate the company is. Is it a member of the Better Business Bureau? Is it registered with your local regulatory agency like your state’s department of real estate?

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Posted on: Thursday, August 6, 2009
Second Mortgage Modification Strategy
Second Mortgage Modification Strategy

If you are severely underwater, you might be able to convince the second mortgagor to release the lien and turn the loan into an unsecured personal loan.

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Posted on: Thursday, July 23, 2009
Can Bankruptcy Save a Home from Foreclosure?
Can Bankruptcy Save a Home from Foreclosure?

Chapter 7 will ultimately cancel all the mortgage debt secured by your home, but you won’t be able to keep it, unless you make arrangements through a loan modification to pay off your mortgage. The good news is that with your unsecured debt gone, you’ll now be able to better make those house payments.

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Posted on: Friday, July 17, 2009
Short Fi a Jumbo into a Conforming Mortgage
Short Fi a Jumbo into a Conforming Mortgage

Short fi’s are for borrowers facing hardship. It would work best in an area where house prices have declined precipitously.

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Posted on: Wednesday, July 15, 2009
The 31% Solution for Mortgage Modification
The 31% Solution for Mortgage Modification

When I first got a place of my own, I was told that a week of income should cover my housing expenses. Today, the US Department of Housing and Urban Development, HUD, estimates that 12 millions households in the country now pay more than 50% of their annual income on housing.

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Posted on: Monday, July 13, 2009
When to Consider a Deed in Lieu of Foreclosure
When to Consider a Deed in Lieu of Foreclosure

If you can no longer make even modified mortgage payments, it’s time to consider transferring your deed to your lender in lieu of foreclosure.

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Posted on: Thursday, June 11, 2009
Loan Modification - Do it Yourself Guide
Loan Modification - Do it Yourself Guide

You’ve cut back where you can, and yet you’re still having trouble making the biggest bill of the month, your house payment. You’ve heard about mortgage relief and know it could make you solvent, yet the people who have approached you want thousands of dollars up front just to talk to your lender, money you simply don’t have.

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Posted on: Friday, April 17, 2009
Knowledge is Power
Knowledge is Power

When the news seems bad, it’s all too easy to curl up into a ball and hope that the world goes away. Denial and paralysis get you nowhere fast.
As I write this, I just learned the news of the biggest real estate bankruptcy in American History. General Growth, the owner of California’s Glendale Galleria has [...]

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