Archive for March, 2010
How to get the BEST mortgage rate in ANY market!
March 31st, 2010 | 
Author:
Insider’s #1 secret revealed on how to get the best mortgage rate in any market…
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Call me for more information 520-225-0380
Duration : 0:3:15
Obama’s Mortgage Rescue Plan
More than 11 million homeowners are at risk of foreclosure. President Obama rolled out a new plan that he hopes will help 4 million homeowners in the next 3 years. Chip Reid reports.
Duration : 0:1:55
Posted in home mortgage | 
Tags: bailout, bank, cbsepisode, Default, foreclosure, home, homeowner, house, loan, mortgage, obama, President, Recession, stimulus, Washington | 
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Euro Zone Leaders Agree to Extend Hand to Greece
Cassandra Toroian of Bell Rock Capital on the rising debt worries in the U.S. as the euro zone agrees to help Greece with its debt.
Duration : 0:3:20
Posted in mortgage rates |
Tags: Agreement, Auctions, Bell Rock Capital, Borrow, Cassandra Toroian, Demand, Dont Buy the Bull, EU, Euro Zone, Foreign, Germany, Government, Greece, Homebuyers, IMF, Interest Rates, Investors, mortgage rates, National Debt, Summit, Treasuries, Weak |
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Here’s the first episode.Wholesale commercial mortgage lender
http://www.lendinguniverse.com/ wholesale commercial mortgage lender People have been using money for thousands of years and they’ve always had trouble with it. Sometimes people are complaining about inflation and blaming it on an excessive increase in the money supply. Sometimes the trouble is recession-unemployment, idle factories, and falling prices. Then they complain that the money supply is being kept too small. There is seldom just the right amount of money circulating. A variety of devices for properly controlling the money supply have been tried in the last few hundred years. The next two chapters trace the development of monetary arrangements from the period of exclusive reliance on metal coin, through the era of privately issued paper money, down to the present system of control by the Federal Reserve System. It is easy enough to see that money is important to all of us and to see why, after centuries of experiments, we have made elaborate arrangements to control its supply in the public interest. But this only raises new questions how that power is to be used. The money supply influences expenditures for goods and services. Properly managed, it can promote four of the major objectives of economic policy: full employment, price stability, growth, and balance-of-payments equilibrium. Direct barter is so unwieldy that anthropologists have found some form of money in use in most “primitive” societies. An immense variety of things have been used for money at one time or another-shells, tobacco, feathers, even sharks’ teeth. Gold, silver, and copper were used most widely, even long before the invention of coinage. The first coins are supposed to have been struck around 700 B.C., but gold and silver were in use by the Babylonians as early as 2000 B.C.
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Duration : 0:3:5
Franklin Financial Company Past Client Testimonial Mortgage Refinance
A past client of Franklin Financial Company(Franklin-Financial.net) , Meave H. of San Diego, was working with a loan officer from another company and he was not treating her well. She started to work with one of our loan officers, Greg, who saved her from a predatory loan. Franklin Financial Company took care of Meave and got her a loan that best met her needs and protected her for the future.
You too can have the same expert advice and experience.
Please look at our site at …. www.Franklin-Financial.net
Duration : 0:1:19
Tax Credit for First Time Home Buyer Mortgage, $8000 Government Assistance Program for Home Finance
First Time Home Buyer Tax Credit Assistance and Federal Government Home Loan Program with Low Down Payment on FHA Mortgages. Buy Bank Foreclosed Homes at a Discount. Go To http://RealEstateMarketingThisWeek.com
Part 2 (Excerpt)
The median income family can afford twice the median priced home; prices drop over 50%
And now I mentioned Dan Havey is back in the studio with us, Dan has done a lot of great things in the mortgage industry. He left us about a year and a half ago, is that right Dan?
Yes, I left the mortgage industry in October of 2007. Tell us a little bit more about yourself.
As you know I came originally from Wisconsin, where I got a degree in Business Finance and I came out here in 1989 and started working with my brother selling real estate owned-REO, bank owned properties for Fannie Mae, Countrywide, and the Resolution Trust Corporation-RTC which was the government entity that was put in charge of disposing of all the real estate owned by the 1800 S&Ls that had failed. I did that until about 1995 when I moved into the mortgage industry and there for 12 years I worked predominately with bankruptcy attorneys helping their clients get out of bankruptcy and foreclosure. I left the mortgage industry in October of 2007. Now I am working predominately in the arena of marketing for real estate and mortgage companies, helping out companies, just like Im here helping out Michael today, to get people to realize that right now actually is a really good time to buy.
There are a couple of points I want to make and it was something that Michael had said earlier. The first one was that 4% interest rate. Originally Obama said a couple of weeks ago, when he rolled out the mortgage plan, that they were going to take the $200 billion and use it to buy mortgage backed securities, well the article I was reading today said it appears that plan may have changed. Instead of buying the mortgage backs they were actually buying the stock of Fannie and Freddie to help support the company and keep these companies going under. I dont quite understand why being how they own them now.
Well youve got to hand it to the government they have really done a heck of a job helping Fannie Mae out, for instance today the stock is up to $0.41. Wow, doing so well, I remember when it was $150 or so, where it was at the top of the market.
Today, right now is definitely the best time even if rates dont get down to the 4% point. The beauty of it and were going to talk more about this in a later segment, is that we have seen a 51% decline in home values from the peak of the market. So you dont have to have the absolute greatest interest rate in order to be able to buy a house today. The median home price right now is $130,000 in Maricopa County, it was $264,000 just two years ago.
So the median home price is $130,000? We are going to talk a little bit about what a person has to make to actually qualify for that. Well it is definitely well within the means of a median income family. Right now a median income family makes about $64,000 in the state of Arizona according to the US Census Bureau and HUD. I ran some numbers today, I think at 6% interest and at that rate they can buy a $280,000 house. So you can buy twice the median home price if you are making just what the median income family would be in the state of Arizona. So the median household income buys double the median priced house in Maricopa County. That is correct, at 6% interest.
And the reality of it is interest rates are not even that high right now. So for people to be waiting for that perfect interest rate of 4% it doesnt really matter if it gets here or not because right now is such an incredibly fabulous time to be buying a house. There are so many foreclosures out there on the market right now, there are so many short sales out there on the market right now, and the point you made earlier is very important, that people have to get in and get prequalified, know exactly what they can buy. Now in many cases you are going to need a down payment, so get with your mortgage broker, get with Velocity Financial and start working on that program of getting those funds together for the down payment as well.
Dan Havey we talked in the past about whats available for financing these days, interesting to give little pat on the back for Velocity Financial is one of less than 15% of all of the lenders in the state of Arizona that are qualified to do FHA financed homes. Now FHA financing, people used to think it was only for first time home buyers, thats no longer the case. The FHA loan which only requires 3.5% down payment it doesnt matter if you have owned a home before and in many cases you can own another home now so long as your new purchase is going to be your primary residence you can utilize FHA financing and put only 3.5% down.
Duration : 0:6:42
Posted in first mortgage |
Tags: 1st, 8000, advice, assistance, bank, bill, breaks, buy, buyer, credit, Debt, deduction, down, downpayment, estate, federal, FHA, finance, financial, First, fixed, foreclosure, Government, grant, guide, guidelines, help, home, homebuyer, house, housing, incentives, income, Information, interest, lease, lend, lending, limits, loan, low, modification, mortgage, new, no, owner, package, payment, Plan, price, program, property, purchase, qualifications, rate, real, rebate, refinance, rent, requirements, sale, short, stimulus, tax, time, tips |
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(Pt) 1. Mortgage lenders pursue homeowners even after foreclosure
Now This Sucks, so make sure you cover all aspects of Forclosure and deeds in lieu.
MensHelpTv
As terrible as it is to lose your house to foreclosure, at least it’s a relief to put your biggest financial headache behind you, right?
Wrong.
Former homeowners may still be on the hook if there’s a difference between what they owed on their mortgage and what the bank could sell it for at auction. And these “deficiency judgments” are ticking time bombs that can explode years after borrowers lose their homes.
It can even happen to people who got their bank to approve them selling their home for less than it is worth.
Vanessa Corey, for example, short sold her Fredericksburg, Va., home in April 2008. She and her husband built the house in 2004, but setbacks, both personal (divorce) and professional (housing bust), made it impossible for the real estate agent to keep her home. So she negotiated the short sale and thought that was the end of it.
“My understanding was that the deficiency was negotiated away,” she said. “Then, last November, I got a letter from a lawyer telling me I owed my lender $65,000. I had to declare bankruptcy. There was no way I could pay it.”
Many homeowners are now in the same boat. And not just those who took out bigger loans than they could afford or who did so called “liar loans” where they didn’t have to verify their income.
Because of falling home prices, borrowers who always paid their mortgage but who have run into unforeseen circumstances — like unemployment or a job transfer — can no longer sell their homes for what they owe. As a result, they are being forced to short sell or foreclose and are getting caught up in deficiency judgments.
“After the banks foreclose, it’s very common now to have large deficiencies with houses not worth the balances owed,” said Don Lampe, a North Carolina real estate attorney.
Lenders mostly declined comment. Although Corey’s lender, BB&T did indicate it was pursuing more deficiency judgments.
“They follow the rise and fall of foreclosures,” said the spokeswoman, who would not discuss Corey’s account.
Can they come after you?
Whether banks can and will pursue deficiency judgments depends on many factors, including what state the borrower lives in and whether there’s a second mortgage or other liens. But if borrowers ignore the possibility of deficiencies, it could haunt them.
“Once they have a judgment, they can pursue you anywhere,” said Richard Zaretsky, a board-certified real estate attorney in West Palm Beach, Fla. “They can ask for financial records, have your wages garnished and, if you fail to respond, a judge can put you in jail.”
Read Part 2
Duration : 0:0:38
Posted in mortgage lender |
Tags: ass, bankruptcy, banks, break, cash, deed, forclosure, homeowners, in, job, lenders, lieu, loss, MensHelpTv, money, mortgage, no, risk, smart, ups, video, webcam |
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Bad Credit Mortgage Lenders
http://www.lendinguniverse.com Bad Credit Mortgage lenders provide financing and hard money loans refinancing nationwide. This story demonstrates the financial crisis:
Subject: Best explanation of the market crises I’ve seen yet
Young Chuck moved to Texas and bought a donkey from a farmer for $100.00.
The farmer agreed to deliver the donkey the next day. The next day he drove up and said, ‘Sorry son, but I have some bad news, the donkey died.’
Chuck replied, ‘Well, then just give me my money back.’ The farmer said, ‘Can’t do that. I went and spent it already.’ Chuck said, ‘OK, then, just bring me the dead donkey.’ The farmer asked, ‘What ya gonna do with him?
Chuck said, ‘I’m going to raffle him off.’ The farmer said ‘You can’t raffle off a dead donkey!’ Chuck said, ‘Sure I can Watch me. I just won’t tell anybody he’s dead.’
A month later, the farmer met up with Chuck and asked, ‘What happened with that dead donkey?’ Chuck said, ‘I raffled him off. I sold 500 tickets at two dollars apiece and made a profit of $998.00.’
The farmer said, ‘Didn’t anyone complain?’ Chuck said, ‘Just the guy who won, So I gave him back his two dollars
Chuck now works for Goldman Sachs.
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Bad Credit Mortgage , Financing and loans refinancing nationwide. CONSTRUCTION LOAN LENDERS offer a wide variety of financing and refinancing options in manufactured home communities and mobile home loans. By taking advantage of Equity in the property a borrower can converted into cash fast . Pay off those high interest credit cards or use the cash for home improvements. Lowest rates available today by few remaining banks, credit unions and private investors
Duration : 0:1:17
Posted in mortgage lenders |
Tags: Bad credit loans, Bad credit mortgage, Commercial LOANS, EQUITY LOANS, interest rate, mortgage rates |
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Morganville New Jersey Mortgage Lenders Brokers
http://www.Mortgages23.com – Emergency Report – Don’t obtain a mortgage in Morganville, NJ until you watch this special video by mortgage lender and broker expert Liz Schwartz. 7 Questions Lenders Hate!
Duration : 0:6:1