NJ Mortgage

We are often asked “What is the lowest rate?”

This is a difficult question to answer while ensuring you are also truly helping your client, without knowing more information. It is important to know what your client’s needs and goals are, what will the property by used for, what is their tolerance for payment fluctuations, how long do they plan to live in or keep the property, so on and so forth. Without the answers to these as well as a number of others, simply getting a client a mortgage with the lowest rate possible will likely not be ensuring all of their bests interests are being looked after.

What we assume is that all of our clients would like the lowest and best interest rate available, however, we do not assume anything else about them, their situation, or their future plans.

If you would like the best interest rate possible for your mortgage but also want to ensure your other needs and wants are being considered and taken care of, contact us for a no cost consultation.

If you have any questions, please feel free to contact us by any of the methods below:

Phone: (778) 668-9320
Fax: (778) 294-2239
Email: scott.dawson@verico.ca

Duration : 0:1:17

Read the rest of this entry »

Technorati Tags: Langley, mortgage broker, mortgage rate, Surrey, Vancouver

http://realestatemarketingthisweek.com/real-estate/beware-of-phishing-schemes-and-bank-scams-gmacs-clients-hit-hard/ – Beware of phishing schemes and bank scams GMACs clients hit hard –

Part 3 – As promised just before the break, I told you to, listen in if you know anyone who has a GMAC Mortgage, this is one of those too good to be true things. Heres the thing, I have no issues what-so-ever with GMAC, thats not what Im saying, what Im saying is there is a scam of sorts that is going around. A client of ours received a letter, we did a second mortgage for this person a few years ago, they received a letter from GMAC, it looked like GMAC, it sounded like GMAC, and it said that we are willing to forgive your second mortgage of 200 and some thousand dollars in lieu of a one time payment, payable within the next 30 days, of say 20 thousand dollars.

I dont recall the exact amount or what it was. There is a phone number on there, it says loss mitigation department on it, a person assigned to this case. They called the phone number, they answered the phone as if you were calling into the loss mitigation department, and verified if you just send us this amount they will release the lien. Well it is completely false. It is absolutely not true.

These people are not going to seek you out on their own, now whether it be GMAC, today we have actually seen that one, there may be other ones out there. Folks, if you are getting stuff like this you need to verify it and you need to verify it by sources other than the information on the letter that you have received. If you get an email that says your bank account has been tapped into you need to check, chances are it is some kind of a phishing scam and this is no different.

We have gone back to identity theft through the mail and if you have been a party to this you need to verify and check into it, and you need to contact the authorities immediately for more information, if you need help with this sort of situation you are welcome to give us a call at 480 Velocity.

It is pretty amazing that that kind of thing still exists, and with the announcement by Paulson today that the fact is they are no longer willing to buy bad mortgages off the books of the banks. When you come across a phishing scam such as this one there is not a bank out there, I dont care what kind of trouble they are in, that is going to take $0.10 on the dollar to forgive a loan.

In a situation where things are going well, you are right in a situation where things are going well, and the status quo, they are going to be pursued by an attorney, that is entirely different, they are not just going to volunteer up and give you the money, its not going to happen.

Absolutely not and thats where we get back into what a loan modification is, who it benefits, and how it works and so forth, you are starting to see these wheels in motion amongst all of these banks. One of those wheels is certainly not well forgive $200,000 in debt if you write us a check for $20, 000.

And when we have talked about this Brett you and I have had many conversations in regard to what does it take? Can a person do this on their own, we will get to that a little later, but the answer is Yes. A consumer can actually do it on their own, up until very recently with the new announcements made from some of these major servicers and investors, up until then, a person trying to do it on their own would take days upon days and hours and hours on the phone not getting calls back trying to find time during the day while working to get this done and in many cases they are going to get a temporary fix.

The loss mitigation department for the bank that you have your mortgage with, their job is not to mitigate your loss its to mitigate their loss. They are out to protect the bank, thats why we use the national network of attorneys that we do, that are specialists, that have done thousands of these loan modifications, that go to bat for you. By the way folks, they are not going through the loss mitigation door that you would have to go through they are going right to the legal department, they are going to threaten suit if necessary, they are going to do discovery work, they are going to find out if there was anything that was misrepresented either by the bank or the broker and take that angle… http://realestatemarketingthisweek.com

Duration : 0:5:36

Read the rest of this entry »

Technorati Tags: Attorney, Avoid, bailout, bank, bankruptcy, estate, Expert, federal, financing, foreclosure, fraud, hardship, home, home mortgage modification, Home-Loan-Modification, Insolvency, Law, laws, lender, letter, loan, loan modification, loss, Mitigation, modification, mortgage, Mortgage Modification, Mortgage-Loan-Modification, Negotiate, negotiation, package, prevention, Process, program, real, requirements, sale, scam, Servicing, short, tax

What in the world are Mortgage Backed Securities? How do they affect home loans & mortgage rates? We use the Poblano Hot Sauce factory in Tucson, Arizona to explain this in a simple way!

Duration : 0:5:54

Read the rest of this entry »

Technorati Tags: Education, financial markets, home loans, mortgage backed securiti, mortgage rates, poblano hot sauce, real estate, tucson

The Financial Services Subcommittee on Financial Institutions and Consumer Credit Committee is currently holding a hearing, “The Role of the Secondary Market in Subprime Mortgage Lending.” Subcommittee Chairwoman Carolyn B. Maloney gives opening remarks.

Duration : 0:6:52

Read the rest of this entry »

Technorati Tags: congress, DEMOCRATS, lending, Maloney, mortgages, oversight, predatory, Subprime

Nashville’s Holiday Tradition!

Duration : 0:0:31

Read the rest of this entry »

Technorati Tags: ACC, College Football, Franklin American Mortgage, Music City Bowl, Nashville, Sec

http://realestatemarketingthisweek.com/real-estate/congressman-barney-frank-is-calling-for-the-restructure-of-the-loan-servicing-business/ – Congressman Barney Frank is calling for the restructure of the loan servicing business –

Part 2 – Well, in the past we have talked a lot about loan modifications and since the first time we started talking about loan modifications the whole space has changed. Everything about loan modifications since our very first broadcast talking about it, we don’t talk about it every week, but we do talk about it allot. It has changed so much, when we started anybody who had a significant hardship, or financial hardship, or had one of these toxic mortgages, that had adjusted, would be able to qualify for a loan modification. These things have changed all of a sudden, and not all across the board. Brett you made a comment earlier that people are concerned that once these servicers do these modifications they could be subject to lawsuits right?

Yes, it is amazing how quickly things have changed over the course of the last couple of weeks, it seems this information, and this news is changing almost hour by hour, at this point one of the things that came out regarding this mortgage modification program is from Barney Frank, “Congress should act to restructure the servicing of home mortgages.” So the idea is that they are catching on to something that you and your team at velocity financial were ahead of the curve on in terms of loan modifications.

Knowing that those rules for a hardship and why you are entitled to one have definitely changed. Now it is more of a situation where in order to stop foreclosure, to stop the problems associated with this mass foreclosure market place, modifications are being talked about amongst the banks now. Barney Franks comments today, he stressed how these voluntary inducements to get these private entities to protect homeowners from the government has fallen short, and Hank Paulson has fallen short of putting their weight behind this concept.

Although I personally believe that is the next evolution of this. Loan Modifications are a critical step for people who are feeling this economic crisis, and for people who want to stay in a home, for people who need this type of assistance. The idea is you have a short window of opportunity here before something else significant changes where you may no longer be entitled to.

You heard Citigroup, you know this we talked about it, Citigroup came out and made the announcement that they were going to suspend their pursuit of foreclosures in certain areas of the country that have the highest unemployment rate, that was the caveat. We will see how big the scope of that gets, but the whole idea is for you as a mortgage owner, as a home owner with a mortgage, if you need to establish a modification to an existing loan, in order to have more favorable terms in interest, a more favorable monthly payment, a way to keep that home, you have to look at this option.

Yes, and I appreciate you saying that one of the things that Citigroup announced they were going to be doing was giving people teaser rates of 1%. Look anybody with a brain can realize that that is ludicrous. What got us into this situation in the first place was huge banks, just like that one, giving people toxic mortgages, with fake interest rates, and pick your own payment, do whatever the heck you want to. It is exactly what they are trying to do again.

Essentially what they are talking about is giving people a short window of a very low interest rate, but they are going to be back in the same situation in the future. That’s why the loan modifications that we do, that we hire on your behalf, the national network of attorney’s that we use. We go for the throat, we are not looking to get you a 1% interest rate for the next 12 months. We are looking to get you a lifelong, or for the term of the loan if possible, the very lowest interest rate available, and fix it or extend the term so you can actually sustain that payment well beyond the short term.

One thing I want to point out before we have to go to a break, if you know of anyone out there, that has a GMAC mortgage, whether it be a GMAC first mortgage or second mortgage, you have got to tune in to the second segment you are not going to believe this scam that’s out there, going against people with these loans… http://realestatemarketingthisweek.com

Duration : 0:5:49

Read the rest of this entry »

Technorati Tags: Attorney, Avoid, bailout, bank, bankruptcy, estate, Expert, federal, financing, foreclosure, fraud, hardship, home, home mortgage modification, Home-Loan-Modification, Insolvency, Law, laws, lender, letter, loan, loan modification, loss, Mitigation, modification, mortgage, Mortgage Modification, Mortgage-Loan-Modification, Negotiate, negotiation, package, prevention, Process, program, real, requirements, sale, scam, Servicing, short, tax

Our video on VA Loans explains all the benefits for Veterans in using the VA Home Loan Program. VA Mortgage Center.com is proud to work with thousands of Vets each year, helping them purchase or refinance their home.

Duration : 0:3:59

Read the rest of this entry »

Technorati Tags: benefits, buying, Center.com, home, loan, loans, mortgage, specialists, VA, veterans

http://www.WowColoradoMortgageLoans.com Get the Lowest FHA Mortgage Rates Today in Colorado! I Guarantee to Meet or Beat Any Lenders FHA Rates and Terms! Please Let me Know if I can help you get a Colorado FHA Mortgage Refinance or Purchase loan.

Duration : 0:3:7

Read the rest of this entry »

Technorati Tags: Colorado mortgage lenders, Colorado Mortgage Loan, Denver Mortgage Loan, FHA, home buyer, home seller, mortgage loans, mortgage rates, Realtor, VA

I came accross a list of the best rated 100 mortgage companies. The page has got the merit of surveying a question and issue of of interest to the global community by fostering individual self-expression and community interaction. But yet panelists haven’t decided which mortgage companies were the best . The poll remains open till December 31 2007. You may want to have a look and tell me what you think about this survey at http://mortgage.yeyeyup.com/best_rated_mortgage_companies.html

i have a mortgage with HSBC. personally all is bad. after your money…
here is a list bancks offering mortgages.

I’m looking to refinance my home. I want to deal with a very reputable agency/bank/mortgage company in Massachussetts. Any recommendations?

Yes start with your local bank where you have your checking account.
With the tightened restrictions on lending, finding any company willing to underwrite a mortgage is very difficult.