Posts Tagged ‘mortgage broker’
Friday, February 12th, 2010
We currently have a 1st mortgage with Resmor. We would like to renovate (and insulate) our second floor not only to accomodate heating costs but to bring in a boarder to help offset our costs. We need about K. Our finances haven’t been the best in the past but we’ve worked hard to increase our credit score, paying on time and is much better now.
Is it best to approach our bank for a home improvement loan? If one turns us down, should we continue looking? Should we bring a recent credit report and show how we intend to pay it?
Our equity doesn’t give us enough to do this and we prefer not to use our credit cards because of higher interest.
Once we’ve raised the value of our home, would this be a good time to put this loan onto a second mortgage? A mortgage broker has offered to do a 2nd mortgage with us. I get so confused with ALL these people who want our money. Help!
Tags: boarder, credit cards, credit report, credit score, good time, home improvement loan, money, mortgage broker, paying on time, resmor, second mortgage
Posted in best home equity loans | 1 Comment »
Wednesday, February 10th, 2010
2 mortgages on the primary home that will remain in good standing (no late payments). The 2nd mortgage is with the same lender as the investment house. If the investment house forecloses with negative equity, will the first home be in jeopardy?
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Tags: bond james bond, broker mortgages, california dui, capitol fax, centreright, comfor, con coughlin, hugo boss, income tax relief, jeopardy, late payments, maud adams, maude adams, monthly expenses, mortgage, mortgage applications, mortgage broker, mortgage lenders, mortgage life insurance, mortgage loans, mortgage mortgage, mortgages, negative equity, rate deals, risk takers, student loans consolidation, youtube
Posted in 2nd mortgages | No Comments »
Saturday, November 28th, 2009
My husband and I are in the process of buying a house.. we were told by our realtor and mortgage broker that the house appraised for 30k more then what we are paying for it.
If this is true and we buy the house would we be able to take out an equity loan on the house as soon as we buy it since the house is worth more then we are paying?
We’re doing FHA so we only have to put 3.5% down. So.. I’m assuming that means that we will have to pay into the house for a while before we can
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Tags: 203k mortgage, article directory, buying a house, conveyance, cordero, degree in special education, equity line of credit, equity loan, fha, fha 203k, fha mortgage, home equity line, home equity line of credit, Home Equity Loan, hous, loanamerica, mortgage broker, mortgage brokers, mortgage loans, process of buying a house, pvc windows, realtor, second mortgage
Posted in Home Equity Loan | 5 Comments »
Monday, November 2nd, 2009
I have a question regarding my Home Equity Line and Foreclosure. If my home is foreclosed what happens to my home equity line? Am I still obligated to pay the home equity line? Or is it part of losing the home?
I’ve heard that if the mortgage loan and home equity line are together with the same bank, then the whole thing is foreclosed. Is this correct? Can someone please explain?
At this point I just want to get rid of the house and all of the debt. Can I file for bankruptcy and claim my home equity line in bankruptcy? I personally just want to get a fresh start without all of this debt.
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Tags: 100 atlanta investor loan, bankruptcy, best buy, equity line of credit, foreclosure, fresh start, goldman sachs, home depot, home equity line, home equity lines, home equity lines of credit, Home Equity Loan, home foreclosure, kitchen furniture, loan market, loan modification, local bank, mortgage broker, mortgage loan, mortgage refinancing advice, real estate marketing, retail sector
Posted in home equity bank | No Comments »
Friday, October 9th, 2009
I have a good credit score and I have about 30,000 equity in my home…I’m looking for a good line of credit without any fees to start up. Which lender should I borrow from for the absolute best interest rate? RIght now TD says they’ll offer me prime plus 1 which is 3.5%, i’m looking for something like 3% without the 500 dollar fee to start the line of credit. Any ideas?
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Tags: best interest, billionaire club, blog archive, credit score, credit score report, dog obedience training, dollar fee, free credit score, free credit score report, interest credit cards, interest rate, low interest rate credit cards, marriott international, marriott international inc, mortgage broker, mortgage costs, new mortgage, nyse, prescription drug resources, rate credit cards, reuters news, stock futures, zero interest credit cards
Posted in Home Equity Loan | No Comments »
Sunday, September 27th, 2009
My son owes back taxes, before getting married. IRS has put a tax lien on a commercial property as well as their home. Commercial property is in both of their names.The home is only in the wifes name, IRS has put a lien on this property as well, can they do this? even if it is my son who owes the taxes. They have tried to negotiate a settlement with the IRS and have been unsucessful. They want to get a home equity loan to pay off the taxes owed but can’t because of lien on their home. Any ideas how to resolve this situation.
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Tags: back stage, blog archive, credit score, debt consolidation loans, golf resort, Home Equity Loan, home equity loans, irs, irs deadline, irs offer in compromise, loan providers, mortgage broker, mulligans, new ways, offer in compromise, polk county fl, real estate mortgage, refinancing home loans, tax lien, tax lien sale, text messaging, wifes name
Posted in about home equity loans | No Comments »
Sunday, September 27th, 2009
I am buying a home. The mortgage broker tells me I can get a HELOC with zero closing costs in addition to the mortgage. I don’t need it currently, but is it useful to get it for the future in case I need money? I am financially stable and have very good credit.
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Tags: affiliate marketing programs, bad credit mortgage, buying a home, closing costs, equity line of credit, free graphic design, free house value estimate, georgia mortgage, hand 1, heloc, helocs, home equity credit, home equity line, home equity line of credit, home mortgage loan, house value estimate, information mortgage, marketing search engine, maximizing profits, money, money internet, mortgage broker, mortgage georgia, shanel, sheet metal enclosures
Posted in home equity line of credit | 1 Comment »
Sunday, September 20th, 2009
We are in contract on a house. We’ve been working with a local mortgage broker recommended by my RE agent. She’s been very helpful to us in recommending types of loans, organizing our paperwork, and getting us pre-approved. She also took care of getting us a HELOC that we needed (without getting paid for that service, I think).
I’ve been doing some rate shopping today. It looks like we could get a better deal through a direct lender than with our mortgage broker.
The broker quoted us a 7/1 jumbo ARM at 6.125% and a 30-yr fixed jumbo at 7.125%, both with 1 point. I’ve spoken with Countrywide and Quicken Loans, and they are quoting me roughly 6% on the 7/1 and 7% on the 30-yr fixed, both with 0 points.
So, two questions:
1) I’m feeling guilty about going with one of the other lenders after this mortgage broker has been so helpful to us. What do you think?
2) Why the difference in rates between the lenders and the broker? Is there a catch?
Thanks!
Update, Thursday 3/6.
Thanks, everyone, for the responses.
I’ve done a little more digging, and — surprise! well, not really — the rate my mortgage broker was quoting was actually pretty good. Turns out, she was qualifying us for essentially a "stated income" loan, because we won’t sell our current house till after we’ve closed on the new one. So, all those lower rates I heard from other lenders wouldn’t actually be available to us.
Lessons learned? 1) My mortgage broker really should have been more clear in explaining the circumstances of our loan; 2) I should have called her as soon as I saw lower rates and asked why hers were higher; 3) lots of loans sound good at first, until you really start digging into the details.
Tags: circumstances, direct lender, heloc, jumbo arm, lenders, loans, mortgage broker, paperwork, shopping, stated income, surprise
Posted in heloc rates | 1 Comment »
Sunday, September 13th, 2009
I currently have a home equity loan as my primary loan on my house but am looking to pay it off with some help then refinace as a traditional mortgage. (benefits – lower interest rate, and full value of house equity available in TX)
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Tags: best mortgage, building societies, cpf, equity line of credit, equity strategies, Home Equity Loan, home improvement loans, interest rate, loan calculators, low interest rate credit cards, money cars, mortgage broker, mortgage interest rate, mortgage man, mortgage protection, netbank, pro and cons, rate credit cards, rate mortgage, smra, traditional mortgage
Posted in home equity loan interest rate | No Comments »
Wednesday, September 9th, 2009
what happens to the person when they forclose and what happens if there is a second mortgage much smaller than the original?
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Tags: board of realtors, delinquency rates, expert realtor, fbi, fbi official, forest bank, fraud allegations, fraud scheme, high limit, home loan mortgage, home mortgage, interest credit card, malibu real estate, marketmetrics, mortgage broker, mortgage delinquency rates, mortgage fraud, mortgage home loan, new mortgage, originations, real estate investor, rick wallace, rogers, second mortgage, secured cards, surrenders
Posted in 2nd mortgages | No Comments »
Related ‘mortgage broker’ sites :
 | Mortgage broker - Wikipedia, the free encyclopedia A mortgage broker acts as an intermediary who sells mortgage loans on behalf of individuals or businesses. ... Today in most developed mortgage markets (especially in Canada, ... en.wikipedia.org/wiki/Mortgage_broker |
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 | NAMB - Home Home Page for the National Association of Mortgage Brokers. www.namb.org |
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 | Mortgage broker: Definition from Answers.com Mortgage Broker An intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its own funds to originate mortgages www.answers.com/topic/mortgage-broker |
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 | Mortgage brokers can help -- or hurt -- you Mortgage brokers can help borrowers who need specialized loans or crave personal service when shopping for a mortgage. But they are less regulated ... www.bankrate.com/brm/news/mtg/20010104a.asp |
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 | AzDFI: Mortgage Brokers Mortgage Brokers. As of close of business on 03/01/2010. Licensees renew annually on or ... If you can't find the name you're looking for, try again in Mortgage Bankers. ... azdfi.gov/Lists/MB_List.HTML |
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 | Welcome to Mortgage Brokers Canada Mortgage Brokers Canada, offering the best mortgages Canada has to offer from 75+ Canadian mortgage lenders and Canadian Banks. ... mortgagebrokers.com |
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 | Mortgage Broker - eHow.com Find info and videos including: Becoming a Mortgage Broker, What Is a Mortgage Broker?, Becoming a Commercial Mortgage Broker and much more. ... www.ehow.com/mortgage-broker |
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 | Mortgage Broker Registration Only those mortgage loan Originators who are licensed or exempt from ... Mortgage brokers seeking a temporary license must have: Mortgage loan originators seeking ... dora.state.co.us/.../applications/mortgagebroker/index.htm |
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