Bad Credit Mortgages
Subprime Mortgages Information
So you’ve gotten a little behind on your credit card payments. Ok, you’ve been late on your car a few times too. And, there are some other issues on your credit that makes it less than perfect. No matter if you’ve lost your job, had medical problems, or any other reason, you’re credit score doesn’t care. But, just because your score is a little lower than most peoples, don’t worry. There is always a lender out there who is willing to help you find a mortgage so you can own yo…
How Lender’s Set Mortgage Rates
Undoubtedly, you�ve heard the radio commercial claiming you can get a mortgage despite having bad credit. Bad credit mortgages are better known as subprime mortgages.
Adjustable Rate Mortgages: Buyer Beware
Ever wonder how lender’s come up with the rates they do? You can stop wondering, cause I’m going to tell you how. We all answer to a higher mortgage rate power, namely the secondary market. The secondary market is where Fannie Mae, Freddie Mac, and other mortgage lenders ply their trade. These government founded agencies purchase the loans that lenders make, then either hold them in their portfolios, or bundle them with other loans into mortgage-backed securities. Those secur…
Is It Time To Grab Your Home Equity?
Remember when your mom told you that if it sounds too good to be true, it probably is? The same could be said about Adjustable Rate Mortgages (or ARM in industry lingo). These guys can be a wolf dressed in sheep’s clothing and if you aren’t careful they are going to huff and puff and take your home away!
Buying A House After Bankruptcy – Things To Consider
If you bought a home in the past few years the odds are overwhelming that your equity increased. According to the National Association of Realtors, the value of a typical home grew by 12.6 percent last year. That means a house worth $184,100 at the end of 2004 was likely to be valued at $207,300 at the start of this year — an increase of $23,200.
Consider a reverse mortgage – as your last option
Bankruptcy can make getting any kind of financing much more difficult. However, it’s not impossible anymore to get financing, even a few days after the discharge of a bankruptcy. But, is getting a loan soon after a bankruptcy a smart thing to do?
It can be tempting to buy a new home, new car, etc., after a bankruptcy discharge you have no debt left. You will probably feel like you can afford a larger house payment. Here are some factors to consider before committing yourse…
Adverse Credit Mortgages – Home Loans For People With Poor Credit
One option is to take a reverse mortgage – a loan against the home, which brings you money while you still live in your home. You can usually borrow between 10 to 40 percent of the value of your home depending on your age. A reverse mortgage loan requires no repayment for as long as you live in your home and you will never owe more than the value of your home.
Mortgages Points and Interest Rates Go Hand in Hand
Mortgage lenders offer many financing options for people with adverse credit. For those who don�t qualify for an A loan, you can use a B, C, or D loan to finance the purchase of your home.
These home loans offer short-term financing until your credit score improves and you can qualify for an A loan with lower interest rates.
Adverse credit is when you have a bankruptcy, foreclosure, or several late payments in your credit history. You can mitigate thes…
What is a Reverse Mortgage
When it comes to mortgages, many people tend to look at points and interest rates as to separate issues. In fact, they can almost always be used as leverage against each other.
Reverse mortgage is a new kind of loan against your home that you need not pay back as long as you live in that house.