Maine home foreclosures starting to slow, but defaults holding steady
by SS&SS Question by Steve M: How can I raise my credit score 30 points very quickly? I need 20-30 quick points on my credit and I dont have a whole lot of money to pay down balances. I am at 590-600 and i need to be at 620 for an FHA mortgage loan. Any suggestions will help!!! Best answer: Answer by JudyNeed more info. If you ever touch 75% of usage of your limits you are causing extreme harm to your score. Even bringing them down to 50% of limits can give you a boost. Optimal use only 25% of your limits. For 800+ scores – pay in full each month. Do not open any new credit. Do not close old accounts. Only secret is to lower your debt utilization ratio on your cards. Then wait for the score to reflect the change. Credit cards update on the credit card’s closing date – usually. (only once a month). / Give your answer to this question below! Some cool massive property images: Construction and Expansion at the Large Residence (University of Michigan, physician Ann Arbor) Image by cseeman More fantastic homes click here… Construction at Michigan Stadium (the Huge Home) – University of Michigan’s Football Stadium Image by cseeman If you would like to see much more properties click right here… Construction at Michigan Stadium (the Large House) – University of Michigan’s Football Stadium Image by cseeman If you would like to see more properties click right here… Question by loismae01: What do you classes do you need to become a Mortgage Loan officer? I would like to become a Mortgage Loan officer. What classes would I need to take to do that. It used to be just Real estate license. But Im seeing other things like NMLS, visit this site Loan officer training course, discount Processing course,Fha/va course. Can you tell me what I need to do. I’m in Cal. Best answer: Answer by loanmasteroneMost states have established a contracted with national firm for the classes and administer the test for those seeking to become mortgage loan officers. You would need to have a mortgage loan officers license to work for a mortgage banker/broker. If you decide to work for a bank, then a mortgage loan officers license if not required. You should google mortgage loan officer requirements followed by California to see what the requirements are to become a mortgage loan officer in California. I hope this has been of some benefit to you,good luck. “FIGHT ON” Add your own answer in the comments! Question by lore81: Can I get a second mortgage loan on a purchase outside of the state Im living in? I want to help my parents buy their first home, approved but because they may not have a good credit score, I was wanting to apply with them to help them. How can I do this? Best answer: Answer by daeve930The first thing to do is check their credit scores. I use annualcreditscore.com, and you can order each of the three major bureau reports there. You have to pay for the score. I think one is $ 5.95 and the other 2 are $ 7.95. Don’t buy any other services from them. What they call debt analysis is something you can do in seconds for free. Just add up all your monthly payments from the reports, and divide by the monthly gross. That’s you debt to income ratio and what they call debt analysis. Most lenders will line up all three scores for all the borrowers and use the lowest middle score. Yes,...
Read MoreHas anyone been thru the Florida Mortgage Modification Program? What can one expect?
Question by paul h: If Bank Of America turns me down for a home loan, pilule pills should I seek a bank overseas? Europe or China? This will be my third home purchase on stated income?. I understand thr banks have given out too many bad loans recentely, more about but are there some that still have confidence with good buyers? Best answer: Answer by ieatcrayonsI think you should try a mortgage broker first. They have access to numerous lenders. Look for one that does its underwriting in house. I’d never seek out a loan overseas, personally. It looks like every other answer on here was a scammer. Please don’t fall for that! What do you think? Answer below! Question by Surely I’m happy..: Has anyone been thru the Florida Mortgage Modification Program? What can one expect? Considering Florida Mortgage Modification Program, online but fear my expenses maybe too high to qualify. Best answer: Answer by jakeAll mortgages will be paid with invisible money. Add your own answer in the...
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Getting a mortgage after bankruptcy or foreclosure … house, web ed the wait could be even shorter. Although financial difficulties remain part of your record forever, web you can qualify for a mortgage as soon as 24 months after the fact if your issues were the result of "extenuating circumstances" over which … If you would like more informaiton please visit here… New rules aim to reduce risky home loans Millions of homeowners got into trouble after taking out loans with no or low down payments that many didn't fully understand as interest rates skyrocketed, order unemployment soared and the housing market crashed. The rules unveiled Thursday are a result of … For more informaiton please visit here… Question by JohnPau2010: How to check as what banks are giving good mortgage interest rates ? 1) Is there a website where we can check as what banks are giving good mortgage interest rates ? 2) Do we have to look only local banks where I live ? If I live in ILLINOIS , pharmacy do I have look for a lender or bank in IL only ? 3) Any suggestions as which bank is good ? Best answer: Answer by jgsudderththe best way place to start is www.lendingtree.com it’s very similar to progressive where you can view side by side loans and compare the differences between them What do you think? Answer below! by marsmet526 Question by KB: I want to refinance, price but my mortgage is not owned by Fannie Mae or Freddie Mac? I don’t have any equity in my home and my first trust is higher than my current home value. I have been making my payment on time. My house is down 26% in value and my interest rate is @ 9.25%. Like many of us, this I feel i have been victimized by the fall of the housing market and superficial prices. It is ridiculous to be paying 8.25% rate, when the current rates are at 4.5% – 5%. Any advice on how to address the situation will be much appreciated. Best answer: Answer by Patricia DI know this doesnt apply to you but… just in case, it never hurts to check if the mortgage is owned by Freddie or Fannie. The program is called the “Affordability and Stability Program”, and there is hope for those of us who have been responsible but are victims of circumstance. First find out if your morgage is owned by Freddie or Fannie Have your account ready and call either 1800-Freddie or 1800-7Fannie or call your current lender and they might be able to see who owns it. If its owned by Fannie you can call most mortgage borkers and they will be able to refinance if meet the qualifications. If its owned by Freddie you can only call Bank of America. Ask to speak to a Refinance team about the new government program to refiniance your home. For now they will put you on a list until the program is finalized. I hope this helps. If its owned by Freddie only bank of What do you think? Answer below! by ell brown Question by Terry: How can day-traders qualify for home loans? Technically, ed I have no employer. I can make $ 20, price 000 in a month, dosage and then not make anything next month. Can you still qualify for a home loan with this source of income? Do state laws vary? I’d be interested to move to Texas or Maryland. All these answers suck thus far. Come on Y!A Community! You can do better. Someone please...
Read MoreI want to refinance, but my mortgage is not owned by Fannie Mae or Freddie Mac?
Getting a mortgage after bankruptcy or foreclosure … house, web ed the wait could be even shorter. Although financial difficulties remain part of your record forever, web you can qualify for a mortgage as soon as 24 months after the fact if your issues were the result of "extenuating circumstances" over which … If you would like more informaiton please visit here… New rules aim to reduce risky home loans Millions of homeowners got into trouble after taking out loans with no or low down payments that many didn't fully understand as interest rates skyrocketed, order unemployment soared and the housing market crashed. The rules unveiled Thursday are a result of … For more informaiton please visit here… Question by JohnPau2010: How to check as what banks are giving good mortgage interest rates ? 1) Is there a website where we can check as what banks are giving good mortgage interest rates ? 2) Do we have to look only local banks where I live ? If I live in ILLINOIS , pharmacy do I have look for a lender or bank in IL only ? 3) Any suggestions as which bank is good ? Best answer: Answer by jgsudderththe best way place to start is www.lendingtree.com it’s very similar to progressive where you can view side by side loans and compare the differences between them What do you think? Answer below! by marsmet526 Question by KB: I want to refinance, price but my mortgage is not owned by Fannie Mae or Freddie Mac? I don’t have any equity in my home and my first trust is higher than my current home value. I have been making my payment on time. My house is down 26% in value and my interest rate is @ 9.25%. Like many of us, this I feel i have been victimized by the fall of the housing market and superficial prices. It is ridiculous to be paying 8.25% rate, when the current rates are at 4.5% – 5%. Any advice on how to address the situation will be much appreciated. Best answer: Answer by Patricia DI know this doesnt apply to you but… just in case, it never hurts to check if the mortgage is owned by Freddie or Fannie. The program is called the “Affordability and Stability Program”, and there is hope for those of us who have been responsible but are victims of circumstance. First find out if your morgage is owned by Freddie or Fannie Have your account ready and call either 1800-Freddie or 1800-7Fannie or call your current lender and they might be able to see who owns it. If its owned by Fannie you can call most mortgage borkers and they will be able to refinance if meet the qualifications. If its owned by Freddie you can only call Bank of America. Ask to speak to a Refinance team about the new government program to refiniance your home. For now they will put you on a list until the program is finalized. I hope this helps. If its owned by Freddie only bank of What do you think? Answer...
Read MoreHome Affordable Refinance Program Requirements
Money Over 55 Links – Spiderbites Of About.comHttp://moneyover55.about.com/b/2009/02/26/please-read-to-the-end.htm http://moneyover55.about.com/b/2009/05/17/the-making-home–affordable-plan com/b/2009/12/10/ignorance-is-not-bliss-troubled-asset-relief-program-year-end http://moneyover55.about.com/b/2009/03/16/should-you-refinance.htm … Read Article Home Affordable Modification Program Guidelines March 4, capsule cure 2009Home Affordable Modification Program Guidelines March 4, 2009 Trial loan modifications and work to complete the Hope for Homeowners refinance requirement to use principal reduction under the Home Affordable Modification program; however, servicers may forgive principal to achieve the Front-End … Get Doc Make Your Mortgage Moreafforable With the Home Affordable …Your mortgage due to declining property values, you may qualify to have your rate and monthly mortgage payments reduced through the Home Affordable Refinance program. Plus- you'll receive an additional entry with every qualifying purchase you make with either card now through year-end. … Access Doc Making Home Affordable ProgramSee Page 2) 1 Making Home Affordable Program Servicer borrowers with GSE mortgages to refinance Borrowers who have a back-end debt-to-income ratio of greater than 55% are required to seek housing counseling under program guidelines. 3 Principal and interest payment. 6 1 Making Home Affordable Program … Return Document Making Home Affordable Borrower Presentation – English Version3 Spring 2010 l Making Home Affordable Home Affordable Refinance Program (HARP) •Purpose-Gives borrowers the opportunity to refinance into more 13 Spring 2010 l Making Home Affordable Know Your Debt-to-Income Ratio •Back-End DTI Ratio-Used to determine how much of your income is needed to pay off all … Document Viewer Housing Counseling Protocol Making Home Affordable ProgramCounseling Protocol Making Home Affordable Program The including the client's back end debt to income ratio and the client's willingness to continue/complete counseling if applicable For clients who come to counselors seeking information on the Making Home Affordable modification or refinance … Retrieve Content AS FOR THE HOMEOWNER AFFORDABILITY AND STABILITY PLANAre all loan types eligible for the Home Affordable Refinance and Home Affordable the borrower achieve an affordable payment of 31% front-end DTI. 22. What if the borrower has a second mortgage and would like to apply for a Home Affordable Modification? Under the Home Affordable Modification program … Content Retrieval Announcement 09-04; Home Affordable Refinance – New …Announcement 09-04 Page 1 Announcement 09-04 March 4, 2009 Amends these Guides: Selling Home Affordable Refinance – New Refinance Options for Existing Fannie Mae Loans Introduction The Making Home Affordable program announced by the Department of the Treasury on March 4, 2009 … Access Content Home Affordable Modification Program – Wikipedia, The Free …The Home Affordable Modification Program, also known as HAMP, is a federal program debt, worse credit scores, and less home equity. Congress should pass legislation that eliminates the HAMP program, to put an end to these Home Affordable Refinance Program (HARP) References … Read Article “Level One” CounselingOrganization must determine and document if client is eligible for a Making Home Affordable Program refinance or Borrower has received a temporary loan modification through the “Making Home Affordable” program and been referred to counseling by a servicer because his or her back end debt-to … Retrieve Full Source Homeowners Affordability And Stability Plan – Wikipedia, The …Home Affordable Modification Program (HAMP) Home Affordable Refinance Program (HARP) External links. Making Home Affordable; References ^ … Read Article Last Updated: December 1, 2011Refinance (Home Affordable Refinance Program (HARP): NFMC Program Grantee must screen for With the modification, will the client’s front end DTI be as close as possible, but not less … Document Viewer Emergency Homeowner Loan Program – Summary OverviewStoring the note and handling the payoffs at the end of the program. In the event that proceeds of a sale or loan refinance refinancing programs offered by their servicer and/or the federal government (i.e. Home...
Read MoreHow does Obama’s “Home Affordable Modification Program” work?
Question by deery13579@sbcglobal.net: Is there any lenders who do not go by the fannie freddie guidelines for home loans? Needing fha home loan. Need to find lender who will not go by fannie freddie guidelines because my pay is through tip income. I claim every bit of my tips so amount of income is not a problem just time with employer to be able to count tips. So does anybody know of any banks or credit unions who can help. Best answer: Answer by glennIf you want a non conforming loan you would need to put at least 20% down- probably more. Give your answer to this question below! Question by Shelly: How does Obama’s “Home Affordable Modification Program” work? Do they grant it if you are breaking even on finances, dosage or if you are in extreme debt? I am seeking to gain some aid in lowering my monthly payments, price since my salary was reduced and I may not be able to pay my mortgage in about 3-6 months. PLEASE HELP! I don’t want foreclosure! Best answer: Answer by supermom414hi actually i am going through the process right now as long as you show proof of income and proof of reduction they will be able to help you and also it depend on if you are current or late there is diffrient programs out there you have to call your lender to see what is best fot you also try this website http://www.makinghomeaffordable.com/ im in process right now i was paying close to 1800 not including home owners insurance or realstate tax now im paying 1085 including everything im on a 3 month trial so they can see i can afford it . but give them all call you have nothing to loose .but your home if you dont look for help now blessings to you hope this helps you What do you think? Answer...
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