WTOP Answer Desk: Housing Crisis - WTOP Radio

1 Oct 2008 at 10:47am  My five-year adjustable rate loan will soon be up. Should I try to get a fixed rate loan? "If you're thinking about refinancing your ARM loan and converting it to a fixed rate loan, it's certainly a good idea," says certified financial planner Frank ...

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www.FAKEPAYCHECKSTUBS.com Helping you Get the Credit You Deserve

26 Sep 2008 at 4:49pm 

While surfing the internet, I came across a site that offers an interesting concept. Software which can generate fake paycheck stubs. http://www.fakepaycheckstubs.com Before you jump to conclus...

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Home Loan Tustin CA Mortgage Ambassadors

25 Sep 2008 at 5:00pm  Home Loan Tustin CA Mortgage Ambassadors
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35 sec - Sep 25, 2008

Home Loan Tustin FHA Mortgage Loans Residential Refinance Purchase Conventional VA Financial Advisor Advisors Rates http://www.mortgageambassadors.com (866) 252-5067 The process of getting a mortgage is not only mentally taxing but can be very emotional as well. You want to cover all your bases but youre committing to a property and a loan that you have to live with for some time. We are here to make your journey easier. You are welcome to learn at your convenience from all of our online reading materials but dont forget that we are available to answer any question that you have about your mortgage search. You can reach us anytime at Contact Us. Weve put together this collection of online articles to help explain everything from the basics to some interesting and advanced topics. The Anatomy of a Mortgage A mortgage payment consists of PITI P Principal - The original amount of the money borrowed from a lender. I Interest - A fee charged for borrowing money. T Taxes - Property taxes paid to your local government. I Insurance Home owners insurance on your property. Mortgages Choices Fixed Fixed mortgages have a fixed term (like 15 or 30 years) and a fixed interest rate. The interest rate and term are fixed over the course of the mortgage and your monthly payment for the payment of principal and interest will not change during the term of the mortgage. Taxes and insurance can change so this may affect your total payment during the life of your loan. Adjustable An ARM (Adjustable Rate Mortgage) has an interest rate that will be adjusted up or down according to current interest rate levels. The monthly amount for your principal and interest payment will go up or down based on these interest rate changes. The Down Payment Many people believe that they need to put down 10 percent or even 20 percent for their down payment and thats no longer true. There are many lenders that have loan programs that require 5 percent or less, including zero down. Way back when, the only zero down loans were from the Veterans Administration but fortunately those days are gone. If you think that you have to pay rent until you save up a 10 or 20 percent down payment, check with us. Youll be pleasantly surprised. Prequalification You will want to get pre-qualified during your mortgage search. Prequalification isnt binding but rather it gives you a ballpark idea of what you can afford. The lender analyzes your income, debt and credit history to estimate your maximum loan amount. Combine that with the money you have for a down payment and you have your maximum home price. The next step is preapproval which verifies your income, debt and credit. Preapproval gives you the following benefits: Knowing exactly what you can borrow. You will have an accurate commitment from your lender for the amount you can borrow. Credit problem solving. You will know now, instead of while your offer is being evaluated by the buyer if you have any credit issues to be dealt with. Stronger negotiating position. Sellers love preapproved buyers. They know your offer will not fall through and will treat you like the proverbial bird in the hand. This can help you negotiate a better price.

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The $1 Trillion Solution: Will It Work? - BusinessWeek

21 Sep 2008 at 10:04pm  The numbers have gone so high that they?ve become inconceivable. Now Paulson and Bernanke are proposing a government fund or funds to buy up failed securities and prop up the financial system. The size of the bail-out funds: Roughly $1 trillion ...

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FHA, is it a good way to borrow? - Boston Globe

17 Sep 2008 at 7:53pm  Last week, in the Big Move live chat , I was asked about whether sellers discriminated against buyers who borrowed using FHA products. I answered: Most sellers think badly of FHA because it used to be really slow and bureaucratic. Most brokers know ...

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What's a decent down payment? - Boston Globe

8 Sep 2008 at 7:57pm  In one of the many stories that I read yesterday about the Freddie Mac and Fannie Mae takeover I came upon one comment that really stuck with me. The story, by Associated Press reporter Tom Raum, delves into some of the risks the takeover poses to ...

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Foreclosure rate alarms Iowans - Des Moines Register

5 Sep 2008 at 7:53pm  Despite a quarterly dip, Iowa's foreclosure rate has worsened compared with a year ago, and officials are unsure whether a new housing relief law will do enough to help families keep their homes. A Mortgage Bankers Association report Friday showed ...

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