Mortgage 88

Mortgage 88

Loans For Unemployed - Meant For Jobless People

Posted: 21 Nov 2008 05:20 PM CST

Education is the most important thing of a person's life. The future of any person depends on their education but in the present time the education is not an easy task for students, there are many hurdles come in their way of student life one of them is funds. Not any else, but they can solve their financial problem through this editorial. By understanding the difficulty of such people the lender introduce a unique loan that is especially for them who are unable to provide their earning proof to lending organizations.

These loans are the best tool for the students as well as for unemployed. These loans can help out the people to get liberate from all their financial stress. The amount that the unemployed or student applicant receive through this loan can cover many demands of cash as like paying tuition fees, purchasing books or computer, boarding fees, conveyance of student or unemployed and many more. Loans For Unemployed is very beneficial for an applicant, even for bad creditors and for the person who is unable to grant any security of not in favor of loan amount.

The sum of money that the applicant can collect through this sort of loan hinge on this fact that the applicant applies for a Secured loan or Unsecured loan Secured and Unsecured loan are two sorts of Loans For Unemployed. The Unsecured loan is the loan for which the applicant does not have to pawn something to the lender against the loan amount and on foundation of their collateral the applicant can attain up to $75,000 or more. Other than if the applicant has some non-payment or bankruptcy and they can not afford any thing as security of the loan they can also submit an application form for the amount ranges from $1,000 to $25,000.

The repayment duration of secured loan ranges between 10 to 25 years while of unsecured loan is from 5 to 10 years. But before applying for loan the applicant has to make it sure that the amount for that they submit the application, can repay easily on the decided time because if they can not repay the loan to the lenders in any circumstance, some more additional charges will be charged by the lenders over the principal amount and the interest rate of the loan as late fees.

6 Tips to obtain a Loan Modification without getting ripped off !

Posted: 21 Nov 2008 05:01 PM CST

With millions of people facing foreclosure on their homes and other real estate, and the government seemingly powerless to make the situation better anytime soon, it's no wonder that lenders and homeowners alike are looking for other solutions. Everybody loses during a foreclosure. Not just the lender and homeowner, but neighbors who watch their values affected, cities who lose tax revenues, businesses who lose customers, and on and on. The best solution is to keep people in the homes. But at what expense to everyone else, and how do you make it quick and painless? That is the point of loan modifications.

Loan modifications are nothing new, and have been done ever since the beginning of real estate financing. A loan modification is simply taking the existing agreement, and modifying it to the satisfaction of both parties. The loan modification can be anything under the sun - including changing the payment, terms, interest rate, forgiving some of the payments, moving them to the back end of the loan, increasing the loan amount - or even getting rid of some of the loan itself!
Loan modification companies have sprung up all over the country, and homeowners facing foreclosure are especially vulnerable to some of their high-pressure tactics. If you are facing foreclosure, having a hard time making your payments or are upside-down in the value of your home, a loan modification could be for you. Before you consider hiring someone to help you though, here are some tips for tackling the loan modification process yourself:

1. Call the lender or servicer directly FIRST.

Many lenders now have departments and specially trained personnel to handle loan modification requests. Some properties and borrowers have even been pre-approved for a loan modification request in advance! One such company doing this is the government-controlled IndyMac Bank. Regardless of who your lender is, call the number on your loan statement and ask for the loan modification department. If they say there isn't one, ask for the loss mitigation department, and they'll guide you from there. The 800# "customer service" department is trained to say "no", so don't be alarmed when they say they don't know what you're talking about, or that they don't do loan modifications. They most certainly do!

2. Do not pay someone in advance for loan modification services.

This is a process you can do yourself with a little bit of time and effort. You do NOT need to hire someone to represent you for a loan modification, although at certain times you might want to consult your attorney to be sure you understand the details of the loan modification offer. Most companies claiming to be loan modification specialists are out-of-work loan officers or worse, and are not qualified to represent your interests. Certain states such as Colorado have recently passed legislation prohibiting unlicensed persons from performing loan modifications.

3. Make sure they are licensed.

If you do end up working with a loan modification company or specialist, make sure they are licensed in your state. Even if it is not required, this is good practice to insure that you're getting someone that at least has some knowledge and experience regarding the real estate and mortgage industry. Check their license with the state, investigate their record with the Better Business Bureau, and ask for references. It's easy for someone to come up with a fancy looking business card and slick forms claiming to be a specialist on loan modifications and foreclosures.

4. Get an appraisal.

Values in most areas of the country have dropped. You know it, I know it and more importantly the lender knows it. Before they agree to a loan modification, they will want to know what the true current value of your property is. Be prepared by getting a fee appraisal done through a locally licensed and certified appraiser. Find one by contacting a local lender or checking an online directory. Even though it will cost a couple of hundred bucks, it will be necessary and useful for negotiating with the lender. Try to find an appraiser that is FHA approved to make sure it's a quality appraisal that the lender will take seriously in evaluating your loan modification request.

5. Threaten foreclosure or bankruptcy.

You will need to be prepared to play hardball. The lender wants as much of their money as they can get, and they know that a loan modification means that they will be losing some of it. You need to show the other options are worse. If you continue down the current path, and do not get a loan modification in place, you're probably looking at foreclosure. Under a foreclosure, the bank loses even more money. When you mention that one of your other alternatives is simply dragging out a foreclosure for a year, they may become much more interested in a loan modification agreement. Bankruptcy scares the hell out them just as well! They know that not only do they lose money through a bankruptcy procedure, but that Congress is poised to authorize bankruptcy judges to perform loan modifications anyway! It's much cheaper for them just to approve a loan modification in advance and try that first.

6. Go LOW.

Ask for the sun and be grateful when you get the moon! When it comes to loan modifications, almost anything goes. There are certainly guidelines, especially when it comes to FHA, VA or other government loans, but you'll never get if you don't ask. When asking for a lower rate or a lower payment as part of your loan modification, go low and expect them to come back with a counter-offer. You need to take control and tell THEM what you can do, and then make sure that you can live with the new terms. If you want them to lower the loan amount, ask for a $20,000 reduction, then gladly settle when they offer $15,000. If you start at $10,000, they'll never just hand you an additional $5000 for fun. When it comes to the terms of the loan modification, always start low in your initial request.

Loan modifications can be performed very quickly and painlessly in terms of time and costs involved. A loan modification can save you thousands of dollars up front and over the long term, and save the bank or lender money as well. But you only get one crack at the deal. Be realistic with your finances and what you can afford to pay. Be prepared to plead your case complete with paycheck stubs (or unemployment filings), bank statements, credit reports, copies of past due bills, medical receipts - anything that will support your case that you need help now before it becomes worse.

You can do this on your own, and don't need to pay someone thousands of dollars to execute a loan modification agreement. The sooner you get started, the easier it will be, and the more time you can spend on getting the other problems in your financial world fixed. Loan modifications are common, so if you're in a pinch, don't be bashful - pick up the phone and negotiate!

Refinance your home with ditech's flexible mortgage programs

Posted: 20 Oct 2008 09:40 PM CDT

Refinance your mortgage and lower your interest rate, pay off debt, and give yourself some peace of mind. At ditech, it's easy to do. They have a family of refinance products and you're sure to find the right loan to suit your financial needs. Check out their featured refinance product below:

Refinancing is easy with ditech's Sleep EZ LoanSM

Refinance today to a 30-year fixed rate loan that allows you to pay interest only for all or part of the first ten years - once in a while, or with every payment. Whatever works best for you. And there's no negative amortization. That's the new Sleep EZ LoanSM from ditech. The Sleep EZ LoanSM provides you with a mortgage payment that you can live with for years to come.

When you refinance with ditech's Sleep EZ LoanSM you'll have the confidence and security of a 30-year fixed rate home loan combined with the freedom and flexibility to make your financial life a lot easier. Apply now.

The Real Estate Attorneys

Posted: 17 Oct 2008 09:57 AM CDT

Real estate industry is booming and with that the business of real estate attorneys seems to be booming too. Well it doesn't so much affect the real estate attorneys whether the real estate industry is booming or not. Since shelter is one of the prime requirements of man, there would be property buyers and property sellers in any case at all times (and real estate attorneys would always be in demand). There are many different ways in which people utilize the services of real estate attorneys. Let's have a look at what these different ways are:

1. Property dispute: This is one scenario where real estate attorneys are obviously the most involved. Not only do they try to get these property disputes resolved (by litigation or otherwise) but also help to get rid of the property (in certain cases) by selling it off and using the amount received for settlement.

2. Tenancy disputes: A real estate attorney also helps in resolving the disputes between tenants and landlords.

3. Settlement of property on account of death: Sometimes real estate attorneys also handle the property of the deceased. Here they sell off the property for settling it among the heirs.

4. Divorce settlements: Again real estate attorneys help in the settling of the jointly owned properties and the divorce settlement in general.

5. Don't want a broker: Some people are just not comfortable with hiring a broker to sell their property, and hence they entrust this with real estate attorneys (some real estate attorneys do take this up).

6. As advisors/consultants: A lot of attorneys also work for real estate investors. In fact, hiring a is a very good option for a real estate investor. A real estate attorney can really make the transactions smooth for the investor. A real estate attorney will not only get it done correctly, but also quickly. And for a real estate investor time is very important since he can spend the time saved due to hiring a real estate attorney, into looking for really good deals.

7. Information provider: Some real estate investors use real estate attorneys as a rich source of information especially for getting the information about the properties that are up on sale due to disputes or settlement procedures. Here the real estate investors try to gain advantage by getting the information earlier than others (and they do sometimes get very good deals in this way).

So whether the real estate business booms or not, real estate attorneys are always going to be in job (booming job).

Posted by The 300 mb United Team Saturday, November 22, 2008 at 9:57 AM  

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)