Mortgage Articles
When looking to build your home as an owner builder, you will undoubtedly want to compare loan programs and closing costs. If you want an owner builder construction loan, you will need to make sure you are comparing apples to apples when looking at overall loan fees. A specialized owner builder loan will have more fees than simpler mortgages, but it should be worth it in the long run.
Wed, 15 Oct 2008: Multiple Appraisals for a Construction Loan? The Details an Owner Builder Needs to Know
If you want a mortgage, you need a real estate appraisal. If you want to be an owner builder and need a construction loan, you will need two appraisals wrapped into one. An owner builder construction loan will require an appraisal prior to construction and one follow-up appraisal upon completion. Knowing the details of this system will help you get the construction loan you want.
Thu, 9 Oct 2008: Miami Reverse Mortgages & Statistics
Even with this large number of HUD Reverse Mortgages, Miami/Dade County is also home to some extremely high dollar cities including beach communities with larger and more expensive properties...
Tue, 30 Sep 2008: Forewarned is Forearmed with Arm Resets: 3 Things You Should Know About Arm Resets
Tips and strategies to put you in a powerful negotiating position if you're thinking of taking on an Arm.
Wed, 24 Sep 2008: Are Mortgage Insurance Companies Affecting Your Owner Builder Construction Loan?
An owner builder construction loan, just like any construction loan, will not have any mortgage insurance payments while you build. So, why is it then that mortgage insurance companies are having a huge impact on your ability as an owner builder to get a loan? The answer lies within the banks' rules for converting you to permanent financing once the home is built.
Tue, 23 Sep 2008: Stuck in a Negative Amortiztion Loan? How to Convert to a Fixed Rate Mortgage
Over 2 Million American families have found themselves to be an unlikely statistic as foreclosure rates continue to skyrocket, even causing some lenders to fail. Fannie Mae and Freddie Mac needed a "bail-out" of themselves from the government. It's getting bad with yet another wave of foreclosures set to begin in 2009.
Mon, 22 Sep 2008: Jumbo Reverse Mortgages - a Dying Breed
If Ms. Boxer is correct and the national limit is now $625,500.00, that would fill the need of many borrowers currently seeking proprietary products and soften the effect of the disappearing jumbo product.
Thu, 18 Sep 2008: Five Creative Ways to Secure an Owner Builder Loan Without a Down Payment at Closing
Owner builder construction loans, like the rest of the mortgage industry, have had to tighten their belts to survive in today's lending climate. For borrowers who wish to build their own homes, this translates into tougher guidelines to secure financing. However, there are still four creative ways that an owner builder has available to close on a construction loan without a down payment.
Wed, 17 Sep 2008: Loan Modification Options-Things You Should Know!
The Loan Modification options provides for either a permanent change in one or more of the terms of a mortgagor's loan, which allows a loan to be reinstated and results in a payment the mortgagor can afford.
Wed, 10 Sep 2008: Mortgage Interest Rates Continue To Fall
This article looks at the recent news with mortgage rates and other recent news in the mortgage industry.
Sat, 6 Sep 2008: 20 Do's and Don'ts of Owner Builder Construction Loans
If you are considering being an owner builder and managing the construction project without hiring a general contractor when you build your own home, then you need to go into the process as prepared as possible. These twenty tips will prove invaluable when shopping for and completing your owner builder construction loan.
Sat, 6 Sep 2008: Why New Houses UK Schemes Can Help First Time Buyers
Looking at how newly built houses are a good investment for people buying a property for the first time.
Wed, 3 Sep 2008: How To Get In There Fast With New Homes
Looking at how to get ones hands on a new build home.
Wed, 3 Sep 2008: How to Choose the Right Closing Agent for Your Owner Builder Loan
Owner builder loans are more complicated than your standard refinance or purchase loans. Therefore, you will need to be more selective when hiring your closing agent. If you don't know how to choose the right closing agent for your owner builder construction loan, your project could be delayed significantly.
Wed, 3 Sep 2008: Reverse Mortgage: Pros & Cons
Since first offering reverse mortgages, I've often been asked, "How do I/we know if a reverse mortgage is right for me/us?" This is a question that has a different answer for different people...
Thu, 28 Aug 2008: What If My Mortgage Lender Threatens To Evict Me?
This document explains the eviction process used to evict homeowners in the UK due to unpaid secured loans. It offers advice on how to prepare for the court hearing and how to deal with lenders.
Wed, 27 Aug 2008: Payoff Your Mortgage - Use the Fastest Method Without Cutting Into Your Paycheck
"Hey, I pay my mortgage bills on time. I have a good rate on my mortgage and there is no reason to do anything more."
Well, I hate to break it to you, but you may not realize that you are paying more on your mortgage than you have to. This happens because some of what goes on with the bank is very sophisticated.
Wed, 27 Aug 2008: How To Escape The Stress Of Mortgage Arrears
This article discuss the options for people in arrears on their mortgages or secured loans (a separate loan secured on the house).
Tue, 26 Aug 2008: The Good, The Bad, And The Non-Performing Mortgages!
What is considered a non-performing mortgage loan?
A non-performing loan is a loan that is in default or close to being in default. Many loans become non-performing after being in default for 3 months, but this can depend on the contract terms.
Tue, 26 Aug 2008: How an Adjustable Rate Mortgage (ARM) Traps You Into a Lifetime of Mortgage Payments?
The repayment on your ARM is probably your biggest monthly bill. Do you know it will determine the quality of your life?
Why?
Sun, 24 Aug 2008: Owner Builder Loans - Everything You Need to Know About Credit Scores
Owner builder construction loans have not been immune from all of the recent changes in the mortgage industry. It's vital that you understand the most recent credit score guidelines that apply to most owner builder loan programs today. If you know these tips about your credit scores, it will make it that much easier to understand some of the nuances of your construction loan.
Fri, 22 Aug 2008: Applying For Mortgages For First Time Buyers
Looking at how to apply for mortgages and the tips on saving your money.
Thu, 21 Aug 2008: Understanding the Difference Between a Simple Purchase Loan and an Owner Builder Construction Loan
An owner builder must understand that his construction loan will be different than a simple purchase or refinance mortgage. Understanding these differences allows you to plan for a very profitable project. However, an owner builder who does not account for the nuances of an owner builder construction loan as compared to a simpler mortgage is going to set himself up for failure from the start.
Tue, 19 Aug 2008: Strategy to Stop Foreclosure - Sell the House
I powerful article on tips of how to sell your home quickly to get yourself out of foreclosure!
Mon, 18 Aug 2008: Housing Bill: Seniors and Reverse Mortgages
On 7/30/2008 President Bush signed HR 3221 into law which has many significant effects on homeowners. The Bill, in its final form, covered a number of subjects that Congress had been trying to resolve from the modernization of FHA, to foreclosure assistance for homeowners...
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