Posts Tagged ‘mortgage interest rate’

Mortgage Calculator with Taxes and Insurance to anticipate the Subprime Mortgage Crisis in the United States

This activity had a positive influence on the growth of the U.S. economy. Seeing the public interest to take an increasingly large subprime mortgage, the property developers who got cheap loans began to expand the business. For bank lender should be more vigilant to protect loans to borrowers. Outstanding credit should be protected by insurance. As a prospective borrower, in order to avoid bad credit, you can use tools Mortgage Calculator with Taxes and Insurance and Hoa. This concern needs to get together, because the property sector, it requires a long time to design a loan product marketable. AS a result of high public interest, can not be fully absorbed by the businesses property so that property prices start rising. An increase in property prices increase public interest in the U.S. to buy a property that causes price increases.
Source: loanpayoff.net

Video: Calculate Your mortgage Interest Rate and Discover What The Bankers Are Not Telling You !

Mortgage Calculator And Interest Rates

The interest rate of a home loan is the most costly part of it. This is the percentage that you will pay to borrow the money to buy the home. Nothing is more important to compare when looking for a home loan than this number. What makes it confusing and even enticing is the fact that many lenders out there who are all offering slightly different interest rates. How do you know which one is offering the lowest rate? If you like one company and would like to work with them, but someone else is offering a lower rate, what will it cost you? These are just what you can learn from using a mortgage calculator .
Source: com.sg

Compare Interest Rates Before Choosing A Lender

Make sure you talk to at least 3-4 banks or mortgage companies before locking into an interest rate. Even though interest rates are low there are still things that alter your rate such as your credit score, the lender you choose and the type of loan you want to get. Remember, banks are in competition just like any other business, so make them compete for your business! YOU’RE THE CUSTOMER!
Source: thefreemortgagecalculator.com

Use a Free Mortgage Calculator in a Web Page

Successful web site designers are always looking for ways in which to add value to their web pages for their users. Given the current economic climate and the efforts that many governments are making in aiding the home owner, a free mortgage calculator is a useful addition to any web site. Fortunately this task can be carried out easily by using a few PHP functions and some standard formulae. This PHP application could, for example, be able to:
Source: suite101.com

What Does a Mortgage Payment Calculator Do?

When used properly, these calculators can help you compare and contrast different mortgage types and payoff strategies that can produce some very eye opening results.  In fact, it is not uncommon for people to be able to pay off their mortgage in under ten years and saving tens of thousands to hundreds of thousands of dollars in interest that would normally be paid all while staying within their existing budgets by using financial strategies anyone can do.
Source: forfinancialrelief.com

The overdue death of interest

People love to think their property has some sort of intrinsic value. In most cases it has very little. The price of a property is really just a function of how much finance can be mobilised to pay for it. In a crowded island with little space for new development, raising the amount of finance (through devices such as interest-only loans) available to buyers simply pumps up prices. Ending six-times salary mortgages, interest-only loans and zero deposit deals should help deflate the market in the longer term. Yes, young people may feel they are being denied access to property, but the tough love should, eventually, make things more affordable.
Source: theguardian.com

Find The Best Interest Rate With A Mortgage Calculator

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Source: mortgageprocess.org

Mortgage Calculator and its Benefits

Mortgage calculations can also be performed using amortizing table and this would be best based on the type of loan program one decides to choose. Mortgage calculations based on APR and excel sheet are also available. Borrowers can make use of all the wide range of online resources to obtain all the information necessary to calculate mortgage loans. The best method to perform mortgage calculations would be to make use of certain online mortgage calculators. The borrower can directly input the values pertaining to their mortgage online personal loans and calculate the costs associated with the loan over the entire time period.
Source: financecareservices.com

Online Interest Only Mortgage calculator

 An interest-only loan is a loan in which, for a set term, the borrower pays only the interest on the principal balance, with the principal balance unchanged. At the end of the interest-only term the borrower may enter an interest-only mortgage, pay the principal, or (with some lenders) convert the loan to a principal and interest payment (or amortized) loan at his/her option.
Source: calculatordaddy.com

Calc Pro HD 4.0.3 IPA Download For iPad

✦ Added single variable statistics worksheet to Statistics calculator ✦ Fixed subtraction rounding bug with very small numbers ✦ Fixed calculation being reset when pressing successive operators ✦ Fixed RPN Reset bug ✦ Fixed Euro Notation on RPN stack ✦ Thousands separator is now shown when entering values ✦ RPN stack is now automatically raised when recalling a saved value from memory ✦ RPN stack is now cleared when pressing reset ✦ Changing fixed digits in financial setting now changes digits on currency converter ✦ Improved displays on White, Orange and Blue Steel skins ✦ Fixed fractions on expression mode ✦ Improved overall display performance and alignments
Source: iplayplus.com

Free Online Mortgage Comparison Calculator

The mortgage cost averaging was taken from the principle of dollar cost averaging. It has proven to be more effective way to earn gains from investment than lump sum investing. The same principle can be applied to mortgage. The borrowers start the panic attack as the mortgage interest rate start to rise. If the interest rate keeps rising, the mortgage payment may be unreachable for the borrower. The borrower takes a risk for foreclosure. The home property is a huge investment. To focus on the house as an investment takes the pain out of mortgage. The greater the risk leads to greater rewards. Hence, the principle of mortgage cost averaging helps to condition our mind to succeed. The interest rate of the mortgage is a cycle of seven to ten years. Every seven to ten years, the interest rate reaches the peak of high or low. So, the cost of mortgage varies thru the years. Traditionally, the dollar cost averaging relates to investment of shares, stocks, and mutual funds. Since the home property is an investment, the principle of dollar cost averaging can be applied to mortgage. The price of the home comes in a huge price tag. Often, the borrower takes a mortgage to purchase a home. The principle of dollar cost averaging work this way. The investor buys shares, stocks, or mutual fund in a set interval like monthly, or bi-weekly. The price of shares, stocks, or mutual funds may be high or low at some point. Thus, the cost of shares, stocks, or mutual funds averages. Thereby, the investment gains faster. The first step is to calculate a mortgage. Using the mortgage calculators, you calculate the different mortgage payment for series of interest rate. See what mortgage payment is tolerable. The interest rate of the tolerable mortgage payment tells if you are paying high or low. For example, the interest rate of six percent on 400,000 principal is tolerable for me. If the interest rate increases so high, the mortgage payment proves to be unbearable. There are available mortgage refinancing options. Talk to your mortgage lenders for more information. Source: mortgagecalculatorme.com Source: mortgagebuz.com
Source: mortgagebuz.com

Video: Mortgage Loan Comparison Calculator: Compare Two Loan Rates!

Could You Survive on Fast

Chief among the demands made by the hundreds of fast-food workers who walked out of their jobs this week: A raise to a "livable" wage of $15 an hour. Currently, the median hourly wage for the cooks, cashiers, and crew who deliver your value meals is $8.94, according to a new report from the National Employment Law Project. That’s hardly enough to get by in most cities.
Source: motherjones.com

fl homestead exemption: Electricity prices comparison calculator online 2012

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Source: blogspot.com

House Hunt Victoria: Mortgage comparison calculator

This is a selfish ask, but one that I hope will translate into a useful House Hunt Victoria community tool. I want a mortgage amortization calculator (preferably online or Excel-based) that can give me a realistic comparison of cost difference between variable and fixed rate mortgages. Here’s the dilemma: currently we’re using a variable rate. The interest rate is stupid cheap. But our bank just decided to offer a stupid cheap fixed rate mortgage product. And Carney is openly musing about raising the BoC prime, though a timeline is unknown. I want to be able to run a scenario that assumes an escalating variable over a defined period of time. Ultimately I’m looking to have an accurate version of cost differential. There are all kinds of mortgage amortization calculators online which you can use to compare fixed versus variable. But the comparisons are limited by the term defined. The terms create the inaccuracy in the comparisons because they’re based on years, not months. For example, let’s assume that the discounted variable rate will climb from 2.15% today to 3.15% over the next 18 months at a rate of 0.25% after 6 months, 0.5% after 12 months and the last 0.25% (totaling 1%) at 18 months–at this point in time there would be 24 months left in the term. I want to compare this cost experience to a 4-year fixed rate of 2.99%. We might be able to crowd source this online–I spent about an hour last night playing with a couple online calculators but didn’t figure out a system that would give me a result where I was even slightly confident in the results. A step-by-step system might be the outcome I’d need to be able to confidently feel like I’ve been able to do a cost analysis. Alternatively, some of you Excel wizards might be able to come up with a formula-based method of making these types of comparisons. If we manage to collectively pull this off, and I’m confident the HHV community can, I’ll pin it up on the resource links section permanently and shower the creator(s) with exhaustive accolades that will have even the most arrogant person imaginable blushing!
Source: blogspot.com

Career Comparison: Real Estate Agent Or Mortgage Broker

Marc is also a published novelist. His novel, “Dirty Money,” published by Dell, was nominated for an award by the Private Eye Writers of America. He is also the author of non-fiction children’s books, including a biography of Florence Nightingale and a history of the Georgia Colony. Marc’s new novel “Bottom Line,” a revealing look at corruption, fraud and thievery in a global management consulting firm, will be published in early 2013 by The Permanent Press. Marc was also a former licensed commodity broker at the Chicago Board of Trade.
Source: investopedia.com

When a Good Mortgage Interest Rate Doesn’t Matter

By Scott Sheldon Consumers shopping for a mortgage tend to be focused on one underlying goal: the lowest possible interest rate. Many have already noticed that rates have crept up in recent weeks as a result of the more exuberant stock market. The consensus is that more consumers who were observing the market movement are seeing rates rise and are now motivated to take action. Factors at Play The financial markets, unemployment rate and the Federal Reserve are continuing to support low rates, thereby shifting consumer focus onto interest rate as the catalyst for taking out a home mortgage. While rates are attractive, the ability to qualify becomes an entirely different paradigm. Even the most savvy consumers aren’t exempt from underwriting scrutiny. Focus on Qualifying Most consumers would be more financially suited to focus on ability to procure financing — a.k.a. passing credit standards — rather than what their interest rate and payment is going to be. The ideal credit profile that most lenders look for includes the following: – one stable W-2 job for the past 2 years – one source of income per borrower – full supporting income and asset information – no gyrating income – transaction is a primary residence – income is three or more times higher than total monthly liabilities including mortgage payment – one or no other property owned – same residence history for the past 2 years – at least 40% equity in the house – middle credit score of 760 or better – no other cosigners or anyone else on title – consumer has full access to funds needed – no cash deposits larger than 25% of monthly income – no business losses on the tax return – six months of mortgage payments or more in the bank with one sole person listed on each account – no additional businesses listed on the tax return – low or no monthly liability payments – use of a payroll company if a business owner *Don’t meet one or more of these requirements? Don’t worry. However, more proof will be required to determine your ability to qualify. If your credit profile matches the ideal credit profile above, then by all means start comparing mortgage offers by rate and cost. The good news: the loan qualifications are universal across the board, making a level playing field. Signs You’re Having Trouble Qualifying for a Loan The most evident situational credit challenge is when the mortgage lender continually asks for updated financial documentation or when financial documentation you supplied causes more questions. Best example: The lender asks you for updated bank statements supporting appropriate cash figures to close the transaction, you provide the updated bank statement thinking you’re doing exactly what the lender asked you to do, only to now have to explain the random deposits going into your bank account because the unsourced monies exceed more than 25% of your income. Another common sign you’re having challenges with qualifying is the fact that the lender is taking longer to close the transaction and/or there is an interest rate lock extension which, depending on the lender, you may or may not be charged for. Ultimately, due to the strict underwriting constraints set forth by the financial markets, the ability to secure financing is paramount, and will certainly remain in place for the foreseeable future. The consumer looking for a loan today doing his or her due diligence in comparing mortgage quotes should get qualified with a lender first, then focus on the rate, payment and costs. See more on Credit.com: Can You Really Get Your Credit Score for Free? The Ultimate Credit Report Cheat Sheet The 11 Most Common Credit Questions More on AOL Real Estate: Find out how to calculate mortgage payments. Find homes for sale in your area. Find foreclosures in your area.
Source: aol.com

Help now for delinquent borrowers

I purchased a used Ford Focus two yrs ago. They financed it through Wells Fargo. The payments were $150 per month. I set it up so they could take the payments out of my checking account. They started taking $326 out of my checking. I found out when I didn’t have money to buy groceries. I stopped the payments at the bank. I talked to them and told them that I would be mailing them my checks. That was unacceptable. They had my car repossed. I am 72 and disabled, but they would not work with me.
Source: bankrate.com

Video: TD Mortgage Penalty Calculator | How to calculate your TD Mortgage Penalty

Freddie Mac: Mortgage Loan Rates Continue to Fall

Mortgage rates eased somewhat following the release of the advance estimate of real GDP growth for the first quarter of the year, which rose 2.5 percent but fell short of the market consensus forecast. The latest GDP report confirmed that the housing sector has become an important contributor to the economic recovery. Residential fixed investment added to overall economic growth over the past eight consecutive quarters and contributed more than 0.3 percentage points in growth over the first three months of this year. Moreover, near record low mortgage rates should further drive the housing market recovery over the near term.
Source: 247wallst.com

When a Good Mortgage Interest Rate Doesn’t Matter

By Scott Sheldon Consumers shopping for a mortgage tend to be focused on one underlying goal: the lowest possible interest rate. Many have already noticed that rates have crept up in recent weeks as a result of the more exuberant stock market. The consensus is that more consumers who were observing the market movement are seeing rates rise and are now motivated to take action. Factors at Play The financial markets, unemployment rate and the Federal Reserve are continuing to support low rates, thereby shifting consumer focus onto interest rate as the catalyst for taking out a home mortgage. While rates are attractive, the ability to qualify becomes an entirely different paradigm. Even the most savvy consumers aren’t exempt from underwriting scrutiny. Focus on Qualifying Most consumers would be more financially suited to focus on ability to procure financing — a.k.a. passing credit standards — rather than what their interest rate and payment is going to be. The ideal credit profile that most lenders look for includes the following: – one stable W-2 job for the past 2 years – one source of income per borrower – full supporting income and asset information – no gyrating income – transaction is a primary residence – income is three or more times higher than total monthly liabilities including mortgage payment – one or no other property owned – same residence history for the past 2 years – at least 40% equity in the house – middle credit score of 760 or better – no other cosigners or anyone else on title – consumer has full access to funds needed – no cash deposits larger than 25% of monthly income – no business losses on the tax return – six months of mortgage payments or more in the bank with one sole person listed on each account – no additional businesses listed on the tax return – low or no monthly liability payments – use of a payroll company if a business owner *Don’t meet one or more of these requirements? Don’t worry. However, more proof will be required to determine your ability to qualify. If your credit profile matches the ideal credit profile above, then by all means start comparing mortgage offers by rate and cost. The good news: the loan qualifications are universal across the board, making a level playing field. Signs You’re Having Trouble Qualifying for a Loan The most evident situational credit challenge is when the mortgage lender continually asks for updated financial documentation or when financial documentation you supplied causes more questions. Best example: The lender asks you for updated bank statements supporting appropriate cash figures to close the transaction, you provide the updated bank statement thinking you’re doing exactly what the lender asked you to do, only to now have to explain the random deposits going into your bank account because the unsourced monies exceed more than 25% of your income. Another common sign you’re having challenges with qualifying is the fact that the lender is taking longer to close the transaction and/or there is an interest rate lock extension which, depending on the lender, you may or may not be charged for. Ultimately, due to the strict underwriting constraints set forth by the financial markets, the ability to secure financing is paramount, and will certainly remain in place for the foreseeable future. The consumer looking for a loan today doing his or her due diligence in comparing mortgage quotes should get qualified with a lender first, then focus on the rate, payment and costs. See more on Credit.com: Can You Really Get Your Credit Score for Free? The Ultimate Credit Report Cheat Sheet The 11 Most Common Credit Questions More on AOL Real Estate: Find out how to calculate mortgage payments. Find homes for sale in your area. Find foreclosures in your area.
Source: aol.com

TD Mortgage Penalty Calculator by TD Bank

1) Reduce your TD Mortgage Penalty 2) Find out how TD Mortgage Penalties compare with other banks 3) How to file a complaint about your TD Mortgage Penalty 4) How to double check you have been charged the right amount 5) How to minimize or avoid your Mortgage Penalty 6) Who may pay for your TD Mortgage Penalty
Source: mortgagecalculatorloan.ca

Waipareira Trust takes hit over John Tamihere’s…

Tamihere disputes the action, claiming it is unclear which Ivil entity should be repaid and that the sum should be offset by a $210,000 loan he made to Ivil in 2007. The High Court was told $290,000 has been paid into solicitor’s trust account to be repaid at the direction of the court. The court heard evidence that Trust chief executive Tamihere witnessed documents waiving the trust’s security over a townhouse to smooth the path for the loan from his then-friend, property developer Brent Ivil.
Source: co.nz

6 exceptions to paying tax on forgiven debt

Exception 6: Cancellation of debt as a gift. If the cancellation of debt is a gift, it’s not income. Generally, the IRS will believe you if you say it is a gift and it’s between parties such as family members or friends. The IRS takes a dim view of taxpayers claiming that canceled debt from banks, employers or anyone else with whom you have a strictly working relationship are "gifts." Note: If more than $13,000 of debt is canceled in one year, the gift giver has to file a gift tax return (although they almost certainly will not owe a tax). That should not affect you as the recipient.
Source: creditcards.com

Congressional influence as a determinant of subprime lending

This study uses the universe of first-time homebuyer residential home loans issued by a major subprime lender to study the role of Congressional political influence in the access to and pricing of subprime mortgage credit. It provides a political economy explanation for the geography of subprime lending. By merging several data sets, we seek to implement the following thought experiment. Consider two identical marginal borrowers called ‘A’ and ‘B’ who live in the same local labour market at the same point in time. Assume that the two borrowers live in comparable but different residential communities. If A’s Congressional Representative is liberal, is a member of the Finance Committee, is a leader of the House of Representatives, or if this Representative receives direct campaign contributions from the subprime lending institution, do these Congressional attributes influence the probability that the institution makes a loan to A versus B? Further, are these same attributes associated with higher or lower loan amounts or loan pricing to A versus B?
Source: voxeu.org

Scotiabank, RBC, BMO, TD earnings fuelled by housing

The thinking behind the international strategy is that by setting up in places like India where GDP is expected to expand by as much as 6.7% this year and Thailand, where economists are calling for growth of 4.9%, Scotiabank can catch a lift from increased demand for financing. And given that many of the countries in which it operates have limited banking services, growth opportunities should not be in short supply.
Source: financialpost.com

A Mortgage Calculator Will Help

Buying a new home is very exciting, and it can lead to dreams about the future and the hope for many years of happiness in your new place. In order to achieve the happiness you’re looking for, you need to be able to afford those monthly repayments on your mortgage. While we’re on the subject of mortgage repayments, you may be interested to know that a mortgage calculator is also good for helping you to get the right home loan too.
Source: ict-carmen.eu

Video: Home Mortgage Payment Calculator Using an Excel Spreadsheet

Mortgage Repayment Calculator

The use of mortgage calculators has recently increased due to easier access to the internet whereas recently many people had to visit a mortgage advisor to find out their proposed repayments. You as a borrower had no real information about the sort of costs that were involved for future payments on a home loan or a refinance. The loan period terms should be clearly explained compared to the the particular mortgage interest rate.
Source: thestatewerein.org

The Analysis Determining Your Early Repayment Options with a Mortgage Calculator

If you own your own home or are preparing to purchase a home, you should become very knowledgeable about a terrific little instrument called a mortgage calculator. A mortgage calculator is an online tool that tells a lot to you of information about your mortgage. You should use a calculator to find curiosity payments, house payments and much more. If you make use of the amortization solution on the mortgage calculator, you can see each and every mortgage payment due. You may also see what influence making additional payments may have in your mortgage. When you first start spending on your own mortgage, the majority of your cost is likely to be going toward interest. It’s perhaps not until the end-of your mortgage which you actually start really paying off the principle balance. A mortgage calculator (http://www.mlcalc.com/) will help you see just where your money will be going before you take out financing. If you have a mortgage, a mortgage calculator will show you how your payments will be distributed through the duration of repayment. You can even use a mortgage calculator to see how making extra payments toward theory can affect your loan. For example: If you’ve an 8%, 30 year mortgage for $100,000, you’ll repay $264,153. A huge amount of the volume, $164,153, will go toward interest. Using a mortgage calculator, you can see how making an extra $50 payment monthly toward principle will save your self you in the future. By making a supplementary payment every month of $50, you will save yourself $39,908 in interest. You will also pay-off your mortgage 6.08 years early in the day. Why should a mortgage calculator be of interest to you? You can use the calculator to ‘try-out’ different repayment techniques. The mortgage calculator will show you how each approach will pay off in the long term. To get a different perspective, we know you check-out: online age calculator . A mortgage calculator can be beneficial in regards time for you to refinance your loan. It will show you exactly how much money you’ll save by refinancing at a lower price. You can even work with a mortgage calculator to plan for a property. Often, the loan that you be eligible for is not the loan that you are able to afford. After you have completed a realistic budget, you can use a mortgage calculator (http://www.mlcalc.com/) to get the loan that you can afford. How much cash can you fairly borrow and pay off without needing to make sacrifices? A mortgage calculator can help you figure it out. When you’ve the best tools, you could make good decisions. Never purchase a home or remove a mortgage without knowing most of the facts. A mortgage calculator can help you learn all of the details of your potential or existing mortgage.
Source: uqam.ca

Financial Institutions Law Blog: CFPB Amends Ability

See 12 C.F.R. § 1026.32(b)(1)(ii)(A)-(C) (effective January 10, 2014). The CFPB noted that nearly all commenters (including the FDIC, HUD, the OCC, creditors and many consumer groups) supported these exclusions, and stated that the exclusions were warranted for a number of reasons, including: ensuring that affordable mortgage credit remains available to consumers by preventing the points and fees calculation from being artificially inflated; and facilitating compliance with the points and fees regulatory regime by eliminating the need for further investigation into the employee compensation practices of mortgage brokers and creditors. In response to comments from consumer advocates expressing concerns with the exclusions described above, the CFPB noted its belief that the prohibition on terms-based compensation in 12 C.F.R. § 1026.36(d)(1) will provide substantial protection against problematic loan originator compensation practices. The CFPB also stated that it intended to closely monitor the exclusions to guard against harm to consumers, and that it could, if necessary, issue a new proposal to narrow or eliminate the exclusions.
Source: financialinstitutionlawblog.com

The Benefits Of Mortgage Repayment

Look before you leap and do the math in advance, to determine how much house you can afford to buy, then buy less house than you can afford. This strategy will ensure that you have adequate cash flow to make extra mortgage payments and will provide some cushion, should you have to take a lower-paying job at some point in the future. Also, make sure that your mortgage does not impose a penalty for prepayment. This clause can put a damper on your efforts to get out of debt. (To learn more about the home costs, see Mortgages: How Much Can You Afford?, Home-Equity Loans: The Costs and The Home-Equity Loan: What It Is And How It Works.)
Source: investopedia.com

JPMorgan Chase settles military mortgage dispute for about $54 million

JPMorgan Chase (JPM) agreed to pay about $54 million to settle lawsuits that accused the banking giant’s Chase Home Finance unit of violating the Servicemembers Civil Relief Act of 2003 by failing to promptly lower interest rates when homeowners entered active duty. The plaintiffs also alleged the lender violated debt-collection practices. In a statement, JPMorgan Chase said it would pay $12 million to members of the class-action suit. In addition, the bank is offering its military customers $27 million in benefits and will set aside $15 million for additional damages that could be implemented later. The SCRA protects military personnel on active duty by affording them special protections when it comes to home foreclosures and mortgage collections. One case – Rowles v. Chase – involved a reserve officer in Colorado. The plaintiff, Capt. Jonathon Rowles, accused the lender of violating the act by failing to promptly implement a 6% interest cap on his mortgage as stipulated under the federal statute. ??Rowles accused the lender of failing to keep the 6% rate consistent throughout his deployment by constantly requiring him to verify his active duty status. Furthermore, the officer on behalf of a similarly situated class of military members accused the lender of employing unlawful collection practices in relation to the loan. “We are sorry and regret the mistakes our firm made on mortgages for members of the military, and we’d like to thank Capt. and Mrs. Rowles for helping us address them,” said Frank Bisignano, chief administrative officer of JPMorgan Chase who was appointed head of Chase Home Lending in February. JPMorgan said Thursday it has implemented a new series of benefits for military personnel. As part of the package, Chase will lower mortgage interest rates to 4% on loans belonging to service members on active duty. That cap will extend for another year after service. In addition, there is a military loan modification program and several homeownership assistance opportunities, including the stipulation Chase will not foreclose on military personnel who are deployed. Write to Kerri Panchuk.
Source: housingwire.com

Determining Your Early Repayment Alternatives using a Mortgage Calculator

If you own your own home or are intending to purchase a home, you must become very knowledgeable about a great little device called a mortgage calculator. A mortgage calculator is an internet tool that tells you a lot of information about your mortgage. You should use a calculator to find fascination payments, house payments and far more. To check up more, consider checking out: age calcualtor. If you utilize the amortization solution on a mortgage calculator, you can see each and every mortgage payment due. You can even see what influence making additional payments may have on your mortgage.
Source: fantasyfootballfiles.com

Extra Home Loan Repayments Calculator

Please Note: The calculations do not take into account all fees and charges. The results provided by this calculator are an estimate only, and should not be relied on for the purpose of making a decision in relation to a loan. Interest rates and other costs can change over time, affecting the total cost of the loan. Consider whether you need financial advice from a qualified adviser. Interest rates and other costs can change over time, affecting the total cost of the loan. Check your mortgage contract to see whether you can charge your repayments without incurring costs.
Source: com.au

Five reasons why you might be a mortgage prisoner – and how to escape

“We have definitely come across older borrowers finding they have run out of options,” Hollingworth says. As well as people who bought homes late in life, some of these may be parents who remortgaged their home to release equity for their children to buy a home. There are also some parents who took on joint mortgages with their children. “If they can no longer meet the lender requirements then that could limit the remortgage options and leave them stuck where they are until the child can reach the point that they take the mortgage on in their own right,” Hollingworth says.
Source: theguardian.com

How the Best Mortgage Calculator Works

A mortgage calculator is basically an online calculator that works on some mathematical formulae as the same way as ordinary calculator works. It specifically allows a person to calculate the actual costs of his mortgage, and it is available all over the net. Some of them can be found at lenders’ websites (only work with own products), financial portal websites, and brokers’ sites. It is used in calculating monthly repayment costs on different types of mortgage. It is also beneficial in calculating or finding out the other costs of products and services that are mortgage related such as building and contents insurance, repayment protection payment, stamp duty, and convincing estimates. Choosing the best mortgage calculator can give you exact estimation of monthly payment including principle, interest rate, loan term and cost, insurance costs, and property information. It will help you to research future payments including how these payments may effect your financial position. There are several mortgage companies available online who provide free loan calculator to discover what you can afford. Their home loan calculator is an effective tool which deals with home financing easier. An even higher mortgage payment calculator can rise regarding property taxes in your area. Typically, the mortgage calculator can raise you for the property’s previous charge per unit. From there, it’s going to calculate a basic increase in capital values and provides you an approximation of your expected monthly payments. When you plan to buy your dream home, the costs for buying and its management as per your budget generally takes long to think about it. But our home loan calculator can guide you in several ways like to find depreciation cost, to decide whether to buy or to lease home. An extra payment calculator provided by many of the mortgage companies enables you to input your expected mortgage payments in conjunction with a calculable further monthly or yearly payment. In turn, it’s going to tell you ways that quantity affects the final date your mortgage is paid off. However most commonly type is Adjustable Rate Mortgage (ARM) Calculator, that offers enticing interest rates but the payment isn’t mounted. It is conjointly useful in crucial adjustable mortgage payments and a totally amortizing ARM. The monthly payment is calculated to payoff the complete mortgage balance at the end of the term. The term is usually thirty years. Loan calculator repayment is also helpful for perfect working out your finance repayments. If you want further details, you can visit upfrontmortgagebrokers.org. This website will provide mutual understanding on payments required for the loan, its conditions like calculation methods for interest or any other specific changes.
Source: articlerich.com

Charlotte foreclosure rate falls

Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!
Source: housingwire.com

Video: Hidden Short Sale Liabilities That Could Get You Sued

When a Good Mortgage Interest Rate Doesn’t Matter

By Scott Sheldon Consumers shopping for a mortgage tend to be focused on one underlying goal: the lowest possible interest rate. Many have already noticed that rates have crept up in recent weeks as a result of the more exuberant stock market. The consensus is that more consumers who were observing the market movement are seeing rates rise and are now motivated to take action. Factors at Play The financial markets, unemployment rate and the Federal Reserve are continuing to support low rates, thereby shifting consumer focus onto interest rate as the catalyst for taking out a home mortgage. While rates are attractive, the ability to qualify becomes an entirely different paradigm. Even the most savvy consumers aren’t exempt from underwriting scrutiny. Focus on Qualifying Most consumers would be more financially suited to focus on ability to procure financing — a.k.a. passing credit standards — rather than what their interest rate and payment is going to be. The ideal credit profile that most lenders look for includes the following: – one stable W-2 job for the past 2 years – one source of income per borrower – full supporting income and asset information – no gyrating income – transaction is a primary residence – income is three or more times higher than total monthly liabilities including mortgage payment – one or no other property owned – same residence history for the past 2 years – at least 40% equity in the house – middle credit score of 760 or better – no other cosigners or anyone else on title – consumer has full access to funds needed – no cash deposits larger than 25% of monthly income – no business losses on the tax return – six months of mortgage payments or more in the bank with one sole person listed on each account – no additional businesses listed on the tax return – low or no monthly liability payments – use of a payroll company if a business owner *Don’t meet one or more of these requirements? Don’t worry. However, more proof will be required to determine your ability to qualify. If your credit profile matches the ideal credit profile above, then by all means start comparing mortgage offers by rate and cost. The good news: the loan qualifications are universal across the board, making a level playing field. Signs You’re Having Trouble Qualifying for a Loan The most evident situational credit challenge is when the mortgage lender continually asks for updated financial documentation or when financial documentation you supplied causes more questions. Best example: The lender asks you for updated bank statements supporting appropriate cash figures to close the transaction, you provide the updated bank statement thinking you’re doing exactly what the lender asked you to do, only to now have to explain the random deposits going into your bank account because the unsourced monies exceed more than 25% of your income. Another common sign you’re having challenges with qualifying is the fact that the lender is taking longer to close the transaction and/or there is an interest rate lock extension which, depending on the lender, you may or may not be charged for. Ultimately, due to the strict underwriting constraints set forth by the financial markets, the ability to secure financing is paramount, and will certainly remain in place for the foreseeable future. The consumer looking for a loan today doing his or her due diligence in comparing mortgage quotes should get qualified with a lender first, then focus on the rate, payment and costs. See more on Credit.com: Can You Really Get Your Credit Score for Free? The Ultimate Credit Report Cheat Sheet The 11 Most Common Credit Questions More on AOL Real Estate: Find out how to calculate mortgage payments. Find homes for sale in your area. Find foreclosures in your area.
Source: aol.com

Bank of America mortgage sold to Green tree

My mortgage was transferred to Green Tree effective April 1 from B of A. My horror story with GT is just that I have been unable to do a HARP refi now since I’m stuck with Green Tree. I have a rental and my primary that were with B of A for around 6-8 years. Been with B of A on both homes since day 1. In early March I called B of A to try and do a HARP refi on both properties. At that time, both loans were with B of A. I got the ball rolling and the process started for a HARP refi with both properties. However, within a week of having started my HARP on my primary, I got a call from B of A saying that they couldn’t complete the HARP refi since my property was transferred over to Green Tree! I was able to finish the HARP on my rental within a month or so later. Got an incredible rate and switched over to a 15 year loan. But now I’m screwed on my primary since it’s now with Green Tree. If only I had called B of A up just a few weeks earlier I would have been able to get my primary refi’ed also. I had been trying to get the HARP refi completed with Green Tree. But they do nothing but give me the run around. If I’m ever able to get through to them on the phone which is almost impossible, they just trabsfer my call to someone else. Who in turn makes up some sort of excuse like they’re on their lunch break, or their system is down. So they say "Hey let me call you back." Which of course they never do! I can’t do a HARP refi with anyone else since my DTI is around 70 percent. I have around $50,000 in a 401K and around $4000 in my bank account, so I would think I would be able to do a HARP refi with having 12 months of available funds, but no one seems to do HARP refi’s. I can only assume this is another 1 of those same servicer type rules. I complained to the CFPB about Green Tree and my HARP refi that got stuck in limbo. Hopefully that will help. I guess my only hope is to just pay down my debt, and then in 9 months when I’m at around 45 percent DTI, try and do a HARP refi with someone other than Green Tree since I’ll have nothing to prevent me from getting help elsewhere. My only worry then is will Green Tree subordinate my 2nd on my primary that I have with them?!!? Seems as though I’m gonna be screwed no matter what.
Source: loansafe.org

Mortgage Rates Sink Lower Again This Week

For the second consecutive week, fixed-rate mortgages edged down, providing ongoing support for the housing recovery, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 3.43 percent this week, which is near its 65-year record low. 
Source: realtor.org

How Can the National Mortgage Settlement Agreement Help Me?

I agree with you Linda… it’s too late in coming for many people and although it may bring some relief to others, probably not enough. Government, traditionally, is slow to act or react to a need… due to the very nature of our political system, in my opinion. When the interest and action is placed on doing what’s right for the whole, instead of pushing actions that only benefit a certain slice of our citizens, and when we, as individuals, agree on what’s right for the whole… that’s when we’ll be able to more effectively direct our governmental representatives to quicker, more competent action in the time of need. Thanks for sharing your opinion, Linda.
Source: patch.com

Naki: Green Tree Servicing is Scamming Me, You and Others!

So, I have townhouse in Charlotte, NC. I bought back in 2008, just before the market fell apart. The mortgage holder at the time was Bank of America. Last year, BOA sold the loan to Green Tree Servicing. I should have know when I opened the very first mortgage statement from Green Tree that something was terribly amiss. The mortgage payment was $200 less than what I had been paying to BOA. I shrugged my shoulders, tossed the statement aside and continued paying what I had since I bought the property. Back in May I received a call from Green Tree. The agent told me that while they had received my mortgage payment, it was short. I asked how that was possible – I paid what I had been paying for years. The agent advised me that it was short because Green Tree had placed a “forced” insurance payment on the property. I asked why had that happened? I pay my insurance premium to Allstate every month. The agent said they had placed a forced insurance payment on the property because it was under-insured. Huh??? Well, the women went on to say, you see the exterior of the property is not insured. I said, it’s not insured by ME — but it is insured by the community in which the townhouse sits. You see these town homes are treated the same way as a condo. I’m responsible for everything from the sheet rock in…. But this woman was adamant that I was responsible for EVERYTHING… I said if this was the case, why in the 3 1/2 years that the property was with BOA, did BOA not place a forced insurance payment on the property? To that I received silence. In any case, by the end of the conversation the woman realized that she wasn’t even looking at the correct insurance policy. She advised me to have a good day and hung up. A few weeks later, Green Tree called again. This time I was told that they had placed a forced insurance payment on my property because it was not insured between Jan and April of this year. Huh??? In any case, I contacted my insurance agent with this news, and his weary voice told me that this was not the first call he had received with this information. He advised that the information had been sent to Green Tree, but he would resend it. I googled Green Tree and found hundreds of complaints about the company. Many of which describing exactly what I’m going through. The complaints range from harassing phone calls, threats of foreclosure, missing escrow money…and so on… I pulled this from World Free News:
Source: blogspot.com

Balloon Payment Definition

The average homeowner could not make a balloon payment at the end of a mortgage, even if substantial principal payments were made over the life of the loan. Because of this, most homeowners and borrowers plan in advance to either refinance a mortgage near the balloon-payment date, or simply sell the home before the maturity date. Balloon payments can be a big problem in a falling housing market. As house prices fall, the odds of homeowners having positive equity in their homes also drops, and they may not be able to sell their homes for the prices they anticipated. Homeowners looking to reset their mortgages can usually do so if they have not been late on their payments, entered foreclosure or lost a substantial portion of their household income.
Source: investopedia.com

Stephen Von Mann Celebrates 6 Years With Greentree Mortgage Company

Stephen Von Mann came to Greentree Mortgage Company in 2006 from Cuna Mutual Mortgage Corp. Von Mann’s success at Cuna Mutual Mortgage explains exactly why Von Mann was a desirable hire. At Cuna Mutual Mortgage, Steve Von Mann led the company in units closed from 2003 to 2005. Furthermore, his annual loan volume reached $120 million annual in 2003, 2004, and 2005.
Source: freepressreleases.com

Amortization Schedule Excel

If you have a loan or plan to take one, be sure to utilize amortization schedule excel calculator, helping you estimate monthly loan repayment amounts and interest due. Such calculation will allow you estimating whether you are able to pay back your liability together with interest.
Source: studiowordpress.com

Video: Mortgage Payment – Long Hand

Mortgage Repayment Calculator

The use of mortgage calculators has recently increased due to easier access to the internet whereas recently many people had to visit a mortgage advisor to find out their proposed repayments. You as a borrower had no real information about the sort of costs that were involved for future payments on a home loan or a refinance. The loan period terms should be clearly explained compared to the the particular mortgage interest rate.
Source: thestatewerein.org

How much house can I afford?

When you’re buying a home, mortgage lenders don’t look at just your income, your assets and the down payment you’re able to make. They look at your liabilities and obligations as well, including auto loans, credit card debt, child support payments, potential property taxes and insurance premiums, and your overall credit rating. Use this calculator to determine how much of a mortgage you may be able to obtain.
Source: msn.com

Islamic mortgage repayments

THEY SHOULD NOT BE INTEREST PAYMENTS. IT WILL BE PROFIT THE FINANCIER MAKES FROM THE SALE. Istisna’a- advance purchase of goods or buildings A contract of acquisition of goods by specification or order, where the price is paid in advance, or progressively in accordance with the progress of a job. For example, to purchase a yet to be constructed house, payments would be made to the builder according to the stage of work completed. This type of financing, along with Salam, is used as a purchasing mechanism Salam- advance purchase Advance payment for goods which are to be delivered at a specified future date. Under normal circumstances, a sale cannot be effected unless the goods are in existence at the time of the bargain. However, this type of sale is an exception, provided the goods are defined and the date of delivery is fixed. The objects of sale must be tangible goods that can be defined as to quantity, quality and workmanship. This mode of financing is often applied in the agricultural sector, where the bank advances money for various inputs to receive a share in the crop, which it then sells.
Source: propertyforum.com

Extra Home Loan Repayments Calculator

Please Note: The calculations do not take into account all fees and charges. The results provided by this calculator are an estimate only, and should not be relied on for the purpose of making a decision in relation to a loan. Interest rates and other costs can change over time, affecting the total cost of the loan. Consider whether you need financial advice from a qualified adviser. Interest rates and other costs can change over time, affecting the total cost of the loan. Check your mortgage contract to see whether you can charge your repayments without incurring costs.
Source: com.au

Mortgage Calculator: Easily Calculate Mortgage Payments

An online mortgage calculator can help you to calculate mortgage payments and interest. Such calculators can take various forms, but before using them you must make sure you understand what you are using them for and how to use them. Here is an explanation of the common fields you will fill in using a mortgage calculator.
Source: trmortgage.net

Your Mortgage Interest Rate: The Importance Of Locking In

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So now that you’re convinced that locking your interest rate as soon as possible is important, you’re probably wondering how you do it. All you really have to do is tell your lender that you’d like to lock the rate you’ve been quoted and they’ll take care of the rest. Something to keep in mind is that if you’re locking in your rate more than 30 days before closing, you may have to pay a fee to do so. While you may end up having to make a one-time payment of a few hundred dollars (the fee varies wildly depending on the lender, and some will let you lock up to 45 days in advance of closing, fee-free) it’s probably worth it for the peace of mind that locking in brings.
Source: quizzle.com

Video: Mortgage Interest Rates

Rising Mortgage Rates? Home Builders Shrug Them Off

The rise is significant because it comes amid a recent pickup in mortgage rates. The interest on a 30-year, fixed-rate mortgage was 4.51% as of Thursday, more than a percentage point higher than the level in early May. Rates are still low historically, but some people in the real-estate industry fear that if rates continue to rise significantly, home sales will slow and be a drag on the broader economy.
Source: wsj.com

Mortgage interest rates on the rise, some Wichita

The monthly principal and interest payment on a $200,000 mortgage with a 4 percent rate would be $955, Crouch said. If that rate increased to 4.5 percent, the monthly principal and interest payment would be about $1,013 a month. At a 5 percent rate, it would be $1,074, he said.
Source: kansas.com

High Mortgage Rates? Hedge Fund Legend Still Says ‘Buy a Home’

Over the past few months, the focus in the housing recovery story has shifted from record low interest rates to quickly rising rates. A new survey from Trulia — conducted in late June — found that 41 percent of consumers who planned to purchase a home in the future were most worried about rising mortgage rates. The second biggest concern was the continuing climb in home prices. Alongside low inventory levels, 37 percent said they were worried that they would not be able to find a home for sale they actually liked.
Source: wallstcheatsheet.com

Mortgage REIT ETFs Hit Hard As Interest Rates Surge

“If mortgage rates increase and the Fed keeps short-term interest rates low, these REITs will post strong performance,” according to Morningstar analyst Abby Woodham. “With financing so cheap, mortgage REITs have used leverage to provide an attractive yield. However, because these firms are so extensively leveraged, they are very susceptible to interest-rate fluctuations.”
Source: seekingalpha.com

U.S. Mortgage Interest Rates Push Higher : Personal Liberty Digest™

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don’t stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.
Source: personalliberty.com

Rising mortgage interest rates: A make or break moment for homebuyers?

“There are some signposts that the lay-expert can look at to think about where mortgage interest rates are going. I would say, overall I wouldn’t think about that mortgage interest rates are going to skyrocket,” says Glink. “In fact, if you think about a signpost, the Fed has said over and over again that they’re not going to stop the QE3, quantitative easing, buying, until we see the jobless rate, unemployment rate, fall below 6.5 percent. Right now it’s about 7.5 percent and it’s higher in a lot of other areas. They’re going to keep putting pressure to keep interest rates super low. It is going to ignite the economy at some point in time. But for mortgage interest rates, what you’re experiencing is sort of this bumpy bottom where they’re going to bump up based on local news and the minute that it seems like the economy is not doing well, they’re going to fall down again. You’re still so far out from buying that house, from closing on it I think you can give it another couple of months and when you see one of these dips, that’s when you lock in.”
Source: marketplace.org

Rising mortgage interest rates

If you haven’t noticed, average mortgage rates have been below 7% for about ten years. And even when the housing market was bubbling, rates were not as low as where rates are today. After the financial crisis, mortgage rates were kept low by the Federal Reserve’s commitment to purchasing mortgage backed securities; which was an attempt to stimulate interest in real estate purchases at a time when the housing market all but screeched to a halt. Shortly after the Fed ended the mortgage backed securities purchase program, a broader securities buying program began with the intent to stimulate the overall economy; commonly called quantitative easing, this was considered the second round, which targeted the purchase of U.S. Treasury Bonds. The Quantitative Easing program was extended into a third phase (QE3) through 2013, which many are speculating will begin tapering off by end of the year.
Source: dankrell.com

Rising mortgage rates rattling prospective Utah homebuyers

Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting “Flag comment as inappropriate”. If you’ve recently registered with Disqus or aren’t seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account. See more about comments here.
Source: sltrib.com

Mortgage Applications Slide on Rising Interest Rates

The announcement of stronger than anticipated job growth last week led to an increase in interest rates, with the 30 year fixed mortgage rate in our survey reaching the highest level in more than six months. Refinance applications declined as a result, but remain high given the steady flow of HARP applications.
Source: 247wallst.com

Higher interest rates: A bitter pill for banks

But things don’t look so good for the banks, at least at this point. It turns out that 80% of the banks’ mortgage lending activity last year focused on people refinancing their existing mortgages as opposed to creating new mortgage loans. Refinancings obviously don’t do well in a rising rate environment, so some decrease in refi activity was expected. In the last two months, mortgage applications have collapsed 43.5%, according to Contingent Macro Advisors, far worse than anybody had anticipated. That is more than the 32% increase in average mortgage rates during the same time period. Refis now make up 67% of mortgage applications, still the anchor in the market despite the sharp increase in rates.
Source: cnn.com

When a Good Mortgage Interest Rate Doesn’t Matter

By Scott Sheldon Consumers shopping for a mortgage tend to be focused on one underlying goal: the lowest possible interest rate. Many have already noticed that rates have crept up in recent weeks as a result of the more exuberant stock market. The consensus is that more consumers who were observing the market movement are seeing rates rise and are now motivated to take action. Factors at Play The financial markets, unemployment rate and the Federal Reserve are continuing to support low rates, thereby shifting consumer focus onto interest rate as the catalyst for taking out a home mortgage. While rates are attractive, the ability to qualify becomes an entirely different paradigm. Even the most savvy consumers aren’t exempt from underwriting scrutiny. Focus on Qualifying Most consumers would be more financially suited to focus on ability to procure financing — a.k.a. passing credit standards — rather than what their interest rate and payment is going to be. The ideal credit profile that most lenders look for includes the following: – one stable W-2 job for the past 2 years – one source of income per borrower – full supporting income and asset information – no gyrating income – transaction is a primary residence – income is three or more times higher than total monthly liabilities including mortgage payment – one or no other property owned – same residence history for the past 2 years – at least 40% equity in the house – middle credit score of 760 or better – no other cosigners or anyone else on title – consumer has full access to funds needed – no cash deposits larger than 25% of monthly income – no business losses on the tax return – six months of mortgage payments or more in the bank with one sole person listed on each account – no additional businesses listed on the tax return – low or no monthly liability payments – use of a payroll company if a business owner *Don’t meet one or more of these requirements? Don’t worry. However, more proof will be required to determine your ability to qualify. If your credit profile matches the ideal credit profile above, then by all means start comparing mortgage offers by rate and cost. The good news: the loan qualifications are universal across the board, making a level playing field. Signs You’re Having Trouble Qualifying for a Loan The most evident situational credit challenge is when the mortgage lender continually asks for updated financial documentation or when financial documentation you supplied causes more questions. Best example: The lender asks you for updated bank statements supporting appropriate cash figures to close the transaction, you provide the updated bank statement thinking you’re doing exactly what the lender asked you to do, only to now have to explain the random deposits going into your bank account because the unsourced monies exceed more than 25% of your income. Another common sign you’re having challenges with qualifying is the fact that the lender is taking longer to close the transaction and/or there is an interest rate lock extension which, depending on the lender, you may or may not be charged for. Ultimately, due to the strict underwriting constraints set forth by the financial markets, the ability to secure financing is paramount, and will certainly remain in place for the foreseeable future. The consumer looking for a loan today doing his or her due diligence in comparing mortgage quotes should get qualified with a lender first, then focus on the rate, payment and costs. See more on Credit.com: Can You Really Get Your Credit Score for Free? The Ultimate Credit Report Cheat Sheet The 11 Most Common Credit Questions More on AOL Real Estate: Find out how to calculate mortgage payments. Find homes for sale in your area. Find foreclosures in your area.
Source: aol.com

Video: Green Tree Second Mortgage Requires Lots Of Green

Bank of America mortgage sold to Green tree

My mortgage was transferred to Green Tree effective April 1 from B of A. My horror story with GT is just that I have been unable to do a HARP refi now since I’m stuck with Green Tree. I have a rental and my primary that were with B of A for around 6-8 years. Been with B of A on both homes since day 1. In early March I called B of A to try and do a HARP refi on both properties. At that time, both loans were with B of A. I got the ball rolling and the process started for a HARP refi with both properties. However, within a week of having started my HARP on my primary, I got a call from B of A saying that they couldn’t complete the HARP refi since my property was transferred over to Green Tree! I was able to finish the HARP on my rental within a month or so later. Got an incredible rate and switched over to a 15 year loan. But now I’m screwed on my primary since it’s now with Green Tree. If only I had called B of A up just a few weeks earlier I would have been able to get my primary refi’ed also. I had been trying to get the HARP refi completed with Green Tree. But they do nothing but give me the run around. If I’m ever able to get through to them on the phone which is almost impossible, they just trabsfer my call to someone else. Who in turn makes up some sort of excuse like they’re on their lunch break, or their system is down. So they say "Hey let me call you back." Which of course they never do! I can’t do a HARP refi with anyone else since my DTI is around 70 percent. I have around $50,000 in a 401K and around $4000 in my bank account, so I would think I would be able to do a HARP refi with having 12 months of available funds, but no one seems to do HARP refi’s. I can only assume this is another 1 of those same servicer type rules. I complained to the CFPB about Green Tree and my HARP refi that got stuck in limbo. Hopefully that will help. I guess my only hope is to just pay down my debt, and then in 9 months when I’m at around 45 percent DTI, try and do a HARP refi with someone other than Green Tree since I’ll have nothing to prevent me from getting help elsewhere. My only worry then is will Green Tree subordinate my 2nd on my primary that I have with them?!!? Seems as though I’m gonna be screwed no matter what.
Source: loansafe.org

New Bank of America whistle

First, some background. Over the past year, non-bank servicers like Nationstar and Ocwen have been buying up servicing rights to millions of mortgages, gradually positioning themselves to become the biggest companies in the space. These non-bank servicers, which process monthly payments and deal with foreclosures but do not originate loans, have an asset not available to their big bank colleagues: They haven’t yet been officially caught scamming customers. Therefore, they are not a party to the various servicer settlements brought by state and federal regulators, and they need not submit to those settlement guidelines. This includes rules like establishing a single point of contact for borrowers, stopping foreclosure operations when a modification is in process (ending what is known as “dual track”) and facilitating proper payment processing.
Source: detroitdebtmoratorium.org

Stephen Von Mann Celebrates 6 Years With Greentree Mortgage Company

Eaton defended the summary process action with a counterclaim asserting that the foreclosure was void because Green Tree did not hold the note at the time of the foreclosure.  The Housing Court stayed the foreclosure proceeding to give Eaton the opportunity to seek relief in the Superior Court, the Supreme Judicial Court having not yet decided Bank of New York v. Bailey, 460 Mass. 327, 333-34 (2011), where it determined that the Housing Court had jurisdiction to adjudicate counterclaims alleging invalid foreclosure sales in summary process actions.  Notably, while Eaton raised claims concerning the validity of the foreclosure, she never disputed that the arrearages were owed or claimed that the note had been paid.  The Superior Court agreed with Eaton that the foreclosure sale was invalid.  The SJC interpreted G.L. c. 244, § 14 to require a foreclosing “mortgagee” to be either the note holder or the authorized agent of the note holder, and remanded Eaton for further proceedings on the agency question.  Responding to pleas from the conveyancing and lending bar, the Court, noting that “significant difficulties in ascertaining the validity of a particular title” would arise if its holding was not limited to prospective operation, limited its Eaton holding to mortgage foreclosures for which the notice of sale was given after June 22, 2012, the date of the opinion. Source: bostonbarjournal.com
Source: mortgagebuz.com

Naki: Green Tree Servicing is Scamming Me, You and Others!

So, I have townhouse in Charlotte, NC. I bought back in 2008, just before the market fell apart. The mortgage holder at the time was Bank of America. Last year, BOA sold the loan to Green Tree Servicing. I should have know when I opened the very first mortgage statement from Green Tree that something was terribly amiss. The mortgage payment was $200 less than what I had been paying to BOA. I shrugged my shoulders, tossed the statement aside and continued paying what I had since I bought the property. Back in May I received a call from Green Tree. The agent told me that while they had received my mortgage payment, it was short. I asked how that was possible – I paid what I had been paying for years. The agent advised me that it was short because Green Tree had placed a “forced” insurance payment on the property. I asked why had that happened? I pay my insurance premium to Allstate every month. The agent said they had placed a forced insurance payment on the property because it was under-insured. Huh??? Well, the women went on to say, you see the exterior of the property is not insured. I said, it’s not insured by ME — but it is insured by the community in which the townhouse sits. You see these town homes are treated the same way as a condo. I’m responsible for everything from the sheet rock in…. But this woman was adamant that I was responsible for EVERYTHING… I said if this was the case, why in the 3 1/2 years that the property was with BOA, did BOA not place a forced insurance payment on the property? To that I received silence. In any case, by the end of the conversation the woman realized that she wasn’t even looking at the correct insurance policy. She advised me to have a good day and hung up. A few weeks later, Green Tree called again. This time I was told that they had placed a forced insurance payment on my property because it was not insured between Jan and April of this year. Huh??? In any case, I contacted my insurance agent with this news, and his weary voice told me that this was not the first call he had received with this information. He advised that the information had been sent to Green Tree, but he would resend it. I googled Green Tree and found hundreds of complaints about the company. Many of which describing exactly what I’m going through. The complaints range from harassing phone calls, threats of foreclosure, missing escrow money…and so on… I pulled this from World Free News:
Source: blogspot.com

Can spenders ever invest well?

“Financial behavior is conditioned over time and usually leads to consistent patterns. They are habits, and first we make our habits, and then our habits make us. It’s amazing because you can ask people what they did with their very first paycheck, and if they went out and spent it all, they’re very likely to still be a big spender today. For those who squirreled it away for a rainy day, they’re highly likely to still be savers today,” says Robert Laura, president of Synergos Financial Group.
Source: bankrate.com

Wells Fargo Mortgage Rates

Wells Fargo is overwhelmingly the market leader in the mortgage industry, generating roughly a third of all the mortgages in the United States. But the bank is still dealing with effects of the financial crisis, and was one of 10 banks that signed an $8.5 billion settlement with government regulators over wrongful eviction claims. In July, the bank was slammed with a $175 million discrimination charge, and in October, it sent refund checks to 10,000 mortgage borrowers in anticipation of future lawsuits. [NYT]  – Hiten Samtani
Source: therealdeal.com

Tablet compatible version of ClientCore CRM launched for mortgage brokers

“This removes any duplication of effort when returning to the office to upload or sync data enabling a more streamlined sales process.  Furthermore, because ClientCore is based on a Microsoft platform used by over four million people, intermediaries get the reassurance of substantial on-going investment and support.”
Source: mortgagefinancegazette.com

Video: What is a Mortgage Broker? Why Use One?

Trusted Mortgage Broker Calculators

Sue’s service commitment is fantastic. At Trusted Mortgage Broker we work with our clients to ensure they understand their options, know exactly how much they can borrow and ensure they choose the right home loan and the right lender that is not unsuitable to their individual needs.
Source: com.au

Are Reverse Mortgage Loans Helpful or Hazardous for Homeowners

To qualify, borrowers have to be at least 62, own their home outright or carry a mortgage small enough to be paid off by the proceeds. There are no income or credit qualifications, although homeowners are responsible for paying the annual taxes, property insurance and maintenance. No loans have to be repaid until the owners move or die, in which case the bank takes its share and anything left goes to the heirs. However, if the owner fails to pay insurance and property taxes, the reverse mortgage is deemed in default and the owner is in danger of foreclosure.
Source: aarp.org

5 Ways To Get The Lowest Mortgage Interest Rate You Can Online

Good credit is the key to not only getting a mortgage, but to getting the best interest rates available. Mortgage lenders like to reward borrowers that pay off their bills in a timely manner. Chances are if you have been faithful with your other payments, you will be faithful to pay them back, so they can afford to take a risk on you and offer a lower interest rate.
Source: homecreditinc.com

Searching The Internet For The Reliable Mortgage Broker

Some brokers put mortgage tools in their websites to entice prospect clients. Updated mortgage tables can show the viewer a summary of some of the best mortgage offers in the market. Checking it from time to time can help you to determine the trend and possible mortgage decision you need. It is quite helpful for those who are overpaying mortgage dues and are planning to switch their mortgage scheme. Another popular tool often used by brokers in their page is the mortgage calculator. Calculate how much you can borrow and the monthly repayments on a mortgage rate, calculating interest only or repayment for the home loans. Using these tools can help you understand your mortgage choice and you can contact the mortgage broker of your choice.
Source: co.nz

Mortgage broker ordered to pay $7.5M settlement with FTC

The telemarketers representing the company are also accused of leading   service members to believe that low interest, fixed rate mortgages were available at no cost and quoted rates that made it sound like they would last for the duration of the loan, according to the FTC. For more details about the settlement, see the Georgia Office of Consumer Protection. 
Source: wtoc.com

Scottsdale, Arizona Based Mortgage Broker Reveals 3 Things Lenders Don't Want You to Know About Shopping for a Mortgage Online

Scottsdale, Arizona Based Mortgage Broker Reveals 3 Things Lenders Don’t Want You to Know About Shopping for a Mortgage Online Anyone who’s even remotely interested in shopping for a home loan has probably paid attention to all those commercials on TV touting the ease of using any of a variety of Internet services to compare mortgage offers from the comfort of your home. You may even have tried a couple of them yourself. But Patrick Obluck, a Loan Officer with Pinnacle Capital Mortgage Corp, says Scottsdale, Arizona residents need to watch out when trying to use the Internet to do the heavy lifting for them. “Sometimes, these Internet services might work fairly well for certain people.” “But the one-size-fits-all approach they offer is going to leave a lot of people with loans that aren’t the best for them, or even worse, they may be shut out of the process altogether.” Patrick Obluck says the problem with these services is that they never really get to know anything about your financial situation other than your credit history and income level. “So basically what winds up happening is that you’re reduced to a number to them. And if they don’t like whatever that number is, you’re out of luck.” Here are three things you should watch out for when shopping for home-finance products on the Internet – things most online mortgage sites hope you ignore: *Do they take the time to find out about your unique situation, or are you just a cyber-borrower in their eyes? Most of these sites simply don’t have the manpower to individually work with every borrower. So a lot of times you wind up with a bad loan simply because there was no one to check if they could have gotten you a better deal. *What do they offer people in special financial circumstances – such as the self-employed or people with damaged credit? Most of these sites don’t even want to work with you unless you meet their stringent criteria. *Do they provide advice to help when choosing between loan products? Most sites simply gather offers, throw them in your lap, and pressure you to choose between them. Unless you’re a pretty experienced mortgage pro, deciding on the best offer can be difficult, if not impossible. So, what’s the solution? Use the Internet to educate yourself and then work with a real human being. You may not have thought about “old-fashioned” methods of finding the best deal, such as working with a mortgage broker. “But for anyone who values a real person sitting down with you and working through the process, there’s no better option,” says Obluck. About Patrick Obluck Scottsdale, Arizona – based mortgage expert Patrick Obluck specializes in providing information to Arizona residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan. Patrick Obluck is available for interviews and will welcome all your mortgage related questions. Call (480) 319-6138 Ext. 100 for a Free No-Obligation Consultation or visit: http://azpcm.com
Source: sbwire.com

When a spouse’s credit is a mess

Someone – I had a similar experience with Wells Fargo. I carried a large balance for 2 months after using the card to finance a cross-country move, and using 66% of my allowable credit to do so. When I paid the car off 2-3 months after my cross-country move, they cut my credit limit immediately by 90%… no exaggeration. When I called to contest this adjustment, they informed me that “we are cutting limits across the board for clients who use too much of their credit limit.” Nevermind that I carried a balance prior to that of no more than 5-10 % of my limit. It turns out if I had not paid that card off completely, they would not have cut this card limit so drastically. This seems entirely counterintuitive.
Source: msn.com

Mortgage Brokers For House Mortgage Refinance

After you have narrowed your choices down for refinancing, request a thorough quotation from the loan provider. This will call for the financing business to appear at your credit rating rating. You really do not want to request also many thorough rates, given that your credit score score is temporarily reduced every time a lender helps make a credit history inquiry.
Source: daily-trading-tips.com

4 Reasons Why I Don’t Use A Mortgage Broker

My first impression of a mortgage broker was not at all positive.  They send out flyer’s in the mail encouraging people to refinance and use the money to take a vacation, buy a new car, or increase their amortization and consolidate debt.  They post rates on their website claiming their mortgage rates are more than 2.00% lower than the big 5 bank rates, even though they are clearly displaying the banks’ posted rates and not the best available rate online.
Source: richdadwisdom.com

Daily Denver Colorado Home Mortgage Interest Rate Update 06/24/2013

Not a good start to the week with interest rates continuing to increase; at 9:00 the 3.5 July FNMA coupon -111 basis points from Friday’s 100 basis point fall. The 10 yr note at 2.61% at 9:00 a little better from earlier when the yield hit 2.64%. The rate is now as high as in 2011 before the Fed’s QE took hold. The stock market in the futures markets at 9:00 reflecting a decline of 136 points on the DJIA. There are no economic reports today but this week is heavy on key data points and Treasury auctions totaling $99B.
Source: kencaiani.com

Video: Get Low Mortgage Rates Colorado at the Home of Low Mortgage Rates Colorado

Colorado Division of Housing: Home loan payoffs in Colorado surged during first quarter following record

Trends in release activity were not uniform across the state, although all of the 21 counties surveyed reported increases in release activity from the first quarter of 2012 to the first quarter of this year. The largest increases were reported in Adams and Arapahoe counties where release activity increased 62.1 percent and 55.0 percent, respectively. The smallest increases were found in Eagle and
Source: divisionofhousing.com

Low Colorado Mortgage Rates Will Keep Your Wallet Full Of Cash

Owning income properties is one of the most rewarding ways to help pack your wallet full of money. You buy a home and then charge rent to other people to keep it occupied and to give you an income without having to actually work. Renting to respectable tenants will also save you money because they won’t wreck the place. Whether you want to buy a full-sized multi-unit building or just want to buy a house that has been transformed into a two flat, a Denver mortgage company can help you out. They have proper funding to provide you with access to a mortgage for this type of residence. They have the knowledge to get you the best rates as well, while they are low. They understand that this is an investment and will work hard to see your dreams come true. Each step is taken with careful understanding and precision so that nothing should go wrong. There is no time like today to get yourself in to the income property business, so go ahead and call today. Have your tenants pay the mortgage and put a little back in your wallet. You won’t be disappointed or left all by yourself.
Source: denver-baby-photography.com

CD rates in Durango, Colorado

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Source: bankrate.com

Rising Mortgage Rates May Spark Buying Frenzy

Michael Tayor is awesome! He helped our family in so many ways, he’s a credit to the real estate profession. We moved from the east coast and knew no one. Mike assisted us in finding a perfect rental, and took the worry out getting acclimated to a totally new area. Over the course of a year Mike kept in touch with us. When it was time to find the perfect home for us, Mike was all in, and helped us get the right home -in the right place, and believe it or not -the right time! If it wasn’t for Michael Tayor I don’t know where we’d be. He’s not just your real estate agent, he’s your friend, and truly your real estate source for life!
Source: taylorrealtygroup.net

Home Mortgage Rates Reverse, Head Lower this Week in Reunion Commerce City Colorado

Mortgage rates moved lower this week in Reunion Commerce City Colorado, just in  time for the Spring buying season Freddie Mac reports in its weekly mortgage market survey. The 30 year fixed rate mortgage, the most popular amoung buyers reversed course and inched back down after rising slightly last week. This rate has remained below 4% for the past year.
Source: reunioncoloradohomes.com