FHA Loan Requirements for 2011
Are you planning to buy your first home in 2011? If so, you might want to look into FHA loans as a financing option. There are several key benefits to this mortgage program, and we will discuss each of them below. We will also talk about the guidelines and requirements for the FHA home loan program, and how to apply for a mortgage through the program. What is an FHA Home Loan, Anyway? The Federal...
Read MoreCredit Card Debt Can Kill Your Mortgage Options
Did you know that carrying too much credit card debt can hurt your chances of getting a mortgage loan? It’s true. But it comes as a surprise to a lot of first-time home buyers. I know, because I get a lot of their emails. They say things like this: “I knew my credit card debt was a problem for other reasons, but I never thought it would lead to my mortgage application being...
Read MoreHow to Qualify for a Mortgage Loan in 2010
Thinking about buying a home next year? Need a mortgage to help pay for it? If so, you should review the checklist below to make sure you have what it takes to qualify for a mortgage loan in 2010. It’s Harder to Qualify for a Loan These Days We will discuss how to qualify for a home loan in just a moment. But first, I want to give you a bit of history on this subject. A few years ago, it...
Read MoreHow to File a Mortgage Complaint Against a Lender
Most of the time, mortgage lenders do what they are supposed to do. They disclose all of the information they are required to disclose. They handle payments and service the loans accurately. They play by the rules. But sometimes, mortgage companies step outside the legal lines. If you feel your lender is treating you wrong or acting illegally, you should file a mortgage complaint against them. In...
Read MoreMortgage Loan Modification Help – In DVD Format
Homeowners seeking a loan modification must learn to help themselves, or they will fall by the wayside. Fortunately, a new educational DVD from a trusted name in personal finance explains how to do it. “While 15 percent of eligible homeowners have been offered help through the mortgage modification program, the low rate of actual mortgage reductions has frustrated administration...
Read MoreAdjustable Rate Mortgages – Advice for Borrowers
What is the adjustable rate mortgage and how does it work? When should a first-time home buyer consider using an adjustable rate mortgage, and when should it be avoided? These are the questions I would like to address in today’s lesson. A Definition to Start With But first, let’s start things off with a basic definition of the adjustable rate mortgage. Also referred to as an ARM loan,...
Read More