Lending banks are dripping out loans

Banks are Dripping out Loans and penalizing excellent buyers. It is amazing to me that no matter how much down payment a buyer has or how exceptional their credit scores it is impossible to get a loan without complications and costly delays. It seems as if the lending banks must have an intricate monitoring system that will only allow a specific number of loans within a risk analysis to be released. Logical on the lending side? Yes, Please…Could have used this in 2004. Continuing to … [Read more...]

Sellling your home Short? You are not alone!

Option ARM loans are resetting. Selling your home short?  You are not alone! Standard and Poor's reports about 93 percent of option-ARM buyers chose to pay a minimum amount less than the interest due. Many of these loans were taken out in 2004 and are close to their five-year reset when the loans convert to a standard amortization.  If the accumulated interest has pushed the loan-to-value ratio above 110 percent some of the more recent loans will reset early. One example of the … [Read more...]

9 options when facing foreclosure

If you are facing foreclosure, try to look the situation from a financial standpoint rather than from an emotional perspective. This helps you successfully analyze which option might best suit your needs and desires -- and move you toward a resolution of your financial difficulty. The most important thing to remember: Time is of the essence. Carefully think through your situation and make a decision. Then, take action right away so you have enough time to implement the solution you … [Read more...]