All businesses are looking to lower their expenses while making more money these days. Since banks and other lending institutions are affected squarely by inflation, they are continuously looking for ways of reducing their office overheads. Among the methods they have discovered is outsourced mortgage underwriting. This involves assigning work to a third party outside
Over 2 Million American families have found themselves to be an unlikely statistic as foreclosure rates continue to skyrocket, even causing some lenders to fail. Fannie Mae and Freddie Mac needed a “bail-out” of themselves from the government. It’s getting bad with yet another wave of foreclosures set to begin in 2009. Many of these
Continue reading: Stuck in a Pay Option Arm? How to Convert to a Fixed Rate Mortgage
With all the costs involved with purchasing a home, home buyers may wonder if the added expense of home mortgage insurance is necessary. This insurance is not a legal requirement; however, if the home is financed, chances are it will be required by the lender. Mortgage insurance should not be confused with homeowners insurance. They
Continue reading: Is Home Mortgage Insurance Necessary?
Some years ago when this mortgage crisis we’re in first began, there were some so called mortgage professionals who devised schemes to make money off those who were already hurting due to high interest rates and loans they could no longer afford to pay. Some were called foreclosure rescue companies and promised that for a
Continue reading: Don’t Be Scammed by Unscrupulous Mortgage Pros
While it is possible to obtain a home loan with a low mortgage credit score, you’ll end up paying much more than someone else with a better score for the same house. Raising your credit score and getting negative history as far behind you as possible will help you to secure the best rates possible.
Continue reading: What’s Your Mortgage Credit Score? Avoid Extra Fees by Increasing Your Rating
All those daunted by their poor credit due to County Court Judgement, defaults on payment, mortgage arrears, Individual Voluntary Arrangement or any other reason can now have a breather with bad credit mortgage loans. A homeowner can now raise loans regardless of his less than perfect credit scores, if he pledges his collateral against the
Continue reading: How Does Bad Credit Mortgage Loan Help?
If you are seeking for mortgage deals, the two terms you probably hear the most are interest rate and annual percentage rate. These two rates are stated in annual percentage, yet the two reflect different aspect of the mortgage deal. You need to understand these two terms before you can make the best decision. Interest
Continue reading: Comparing Interest Rate and Annual Percentage Rate