Mortgage Education, Information about Buying a Home, Real Estate Education, Credit Informa

Scottsdale Divorce Mediator

2011-05-11T10:42:00.000-07:00

Mediation in Arizona is an option to litigating your divorce. You can save significant money by using a mediator to settle your divorce in Arizona. Mediation is effective. According the the American Arbitration Association, mediation is effective over 85% of the time.

Do your research. You may want to consider mediation as an option to settle your divorce.

Divorce Laws Arizona

2011-03-28T08:14:00.000-07:00

The Divorce Laws in Arizona can be tricky. You may wish to consider talking to an attorney before making any decisions. There are other options such as mediation, arbitration and collaborative divorce. You do not need to slug it out in court. There are other options.

Divorce Laws Arizona

2011-03-06T11:20:00.000-08:00

Divorce Laws Arizona - Getting divorce in Arizona can be daunting. You should consider talking to an attorney or mediator that is familiar with the process. Explore your options and do what is best for you. Getting divorce does not mean that you need to slug it out in court. Mediation is a popular option that couples are now choosing to settle their divorce.

Arizona Attorney Divorce

2011-02-24T21:45:00.000-08:00

Divorce in Arizona? There are options other than just running to the courtroom. Mediation is quickly becoming the option of choice when it comes to resolving conflicts. The Arbitration Association of America reports that mediation is successful over 85% of the time. These statistics are hard to ignore. You can buy a new car for what litigation costs. Mediation can typically be completed in one day if parties are motivated to reach an agreement. The average mediation runs less than $2000.

Mediation Arizona

2011-02-24T21:42:00.000-08:00

If you are getting divorced in Arizona you may want to consider hiring a mediator over slugging it out in court. Mediation is successful over 85% of the time according to the American Arbitration Association. Hiring an attorney is also going to be very expensive. You could buy a car for what the average litigated divorce costs. Unfortunately mediation is not as well known or understood. Before making any decisions do your research about mediation to see if it is an option that would work for you.

Arizona Attorney Divorce

2011-02-22T23:05:00.000-08:00

Divorce Mediation can be a much less expensive route than litigation. If you are getting divorced you may want to learn about mediation as an option to hiring an attorney for your divorce.

Divorce AZ

2011-01-24T15:16:00.000-08:00

Arizona Divorce Process can be an expensive proposition to your wallet and your emotions. There are options if both parties are willing to work together to reach a settlement without going to court. Mediation in AZ is fast becoming one of the more preferred methods to reaching a divorce settlement. Attorneys are allowed to be in a mediation with their clients if it agreed.

Arizona Divorce Mediation is effective over 85% of the time according to the American Arbitration Association.

BMW Mesa

2011-01-20T10:31:00.000-08:00

I am very picky about where my BMW in Arizona is serviced. My BMW factory warranty is over and I don't want to go to the dealer for servicing my BMW. I highly recommend taking your BMW to Babbitt Motor Werks. They have been in business for over 20 years and I always feel that they take care of me while providing excellent service.

I have been using them for over 15 years and am always satisfied.

Phoenix Mediation

2011-01-15T18:01:00.000-08:00

If you are looking for a mediator in Phoenix Arizona visit AZMediator.com

LBPS - Lender Business Process Services

2011-01-15T17:57:00.001-08:00

LBPS are probably the worst mortgage servicer that I have ever had. The sent me a letter about financial hardship even though my payment is current. What a bunch of fucking assholes. Thanks for giving me a scare. I thought maybe I had forgot to make a payment and had a late. You guys should get your shit together. I hope that Lender Business Process Services transfers my loan so I don't have to fucking deal with their shit anymore.

Phoenix Mediation

2009-05-21T15:35:00.000-07:00

Alona M. Gottfried has just launched a new Mediation website at AZMediator.com. Mediation is a great option to settling disputes outside of the courtroom. Go to AZ Mediator.com to find out more about mediation in your area.

Where to get help to buy a home?

2009-05-20T10:54:00.000-07:00

What does Buying a home does require:

* knowledge of industry terminology and protocol
* industry knowledge of the home buying process
* awareness of the down payment assistance programs in your area
* understanding the many first time home buyer programs available
* typically good credit history and credit scores that are above 600
* must being employed receiving some proof of income for the last two years
* have some money set aside for closing costs and down payment
* knowledge of real estate mortgage loan programs

Get Home Buyer Help

Down Payment Assistance Information

Bridge Loans From FHA - $8000

2009-05-14T08:53:00.000-07:00

FHA first time home buyer mortgages will soon be a lot better for home buyers and first time home buyers. Hud and FHA plan on giving buyers an $8000 bridge loan that they can use now to buy a home rather than wait to get their refunds. Not all of the details have been outlined yet.

FHA tax credit program

How to Make Better Financial Decisions about Credit and Mortgages

2009-05-06T09:18:00.000-07:00

The more you understand about your credit history, the better mortgage rate you will get. It is important that you understand your credit as well as your credit scores. There is more than one type of mortgage. Your fico score will dictate what programs you will be eligible for. In most cases, the higher your fico score is, the better interest rate you will get.

Different Types of Mortgage Programs For First Time Home Buyers.

* Locking in the best interest rate for a mortgage
* First Time Home Loan Buyer Programs
* Down Payment Assistance or DPA
* HomePath Mortgage Program
* FHA loans, great for first time home buyers and buyers with low credit scores

Most Consumers Want to Know the Following about Credit Scores

* How to improve your fico score
* What factors impact your credit score
* How to recover from bankruptcy or foreclosure
* Credit Restoration

For more information about credit scores talk to your mortgage professional.

8000 tax credit

2009-05-01T14:43:00.000-07:00

You can now take advantage of the 2009 American Recovery and Reinvestment Act of 2009. You can now get a $8000 tax credit just for buying a new home. That's dollar for dollar against your federal income tax returns. You must be a first time home buyer to be able to qualify for the program. The home you buy must be your primary residence as well. The home you buy must be from someone that is not related to you.

$8000 tax credit information

$10,000 California Tax Credit

Difference Between a Tax Credit and a Tax Deduction

2009-05-01T09:56:00.000-07:00

Housing Tax credits are a decrease in the amount of Federal Income Tax that you owe that is based on your tax bracket. This tax credit is available for first time home buyers. A tax credit is a dollar for dollar decrease in the amount of tax that you owe. Obama's 8000 tax credit is dollar for dollar off of your personal income taxes.

A tax deduction will reduce the amount of your income that is taxable by the IRS or the state. It is not dollar for dollar like a tax credit.

Tax Credit Information

Pennsylvania Tax Credit

Fha Mortgages vs. HomePath Mortgages

2009-04-29T11:34:00.000-07:00

A HomePath Mortgage may be a better choice than an FHA mortgage loan. A Home Path Mortgage loan only requires 3% down whereas an FHA loan can require up to 3.5% down. There is no PMI insurance required on a HomePath Mortgage. An FHA mortgage has mortgage insurance as well as a 1.5% funding fee up front ouch. There is no appraisal required for a HomePath loan.

Home Path mortgage information

Federal Tax Credits

2009-04-29T10:56:00.000-07:00

The American Recovery and Reinvestment Act of 2009 that was passed byPresident Obama gives many home improvement tax credit for people that do energy efficiency improvements to their home.

How to Qualify for Energy Efficient Home Improvement Tax Credits. You must purchase and install the energy efficient items between 1/1/2009 and 12/31/2010.

Energy Efficiency Tax Credit Information

8000 tax credit for first time home buyers explained

2009-04-27T14:58:00.000-07:00

The new $8000 tax credit for first time home buyers is different from the $7500 tax credit that was passed by the Bush Administration. You should make sure you understand how it works before you close on your first home.

8000 first time home buyer tax credit info

Produce the Note - strategy for delaying foreclosure

2009-04-27T11:42:00.001-07:00

In tough times you need to get creative. You may need to ask you lender to produce the original mortgage documents if they are threatening foreclosure on you. Just ask them to Produce the Note. In most states you need to be able to show the original documentation if you want to proceed with a foreclosure.

Read More

Fha Loan Limists Raised In Maricopa County

2009-02-27T13:13:00.001-08:00

The Fha mortgage loan limits have been raised across the country. In Arizona, Maricopa County went from just over $270,000 to over $346,000. This should more people be able to buy more expensive properties. We need to reduce the real estate inventory if we are ever going to stabilize housing prices. Too much supply and not enough demand. I think the next step is to raise the conforming loan limits as well as allow people who have a good payment history to refinance even if they are upside down. Obama seriously needs to take a look at this as well as bringing back some of the down payment assistance programs like Nehemiah or Ameridream.

What is Nehemiah?

IndyMac Loan Modifications

2009-02-03T10:06:00.000-08:00

What loans are eligible for loan modifications with IndyMac? The streamlined loan mods will be available to borrowers who have a first mortgage owned or securitized and serviced by IndyMac that are facing foreclosure. You must have a primary residence to be eligible. Second homes and investment properties are not eligible for a mortgage modification with IndyMac.

Loan Modification Information

Simmons & Gottfried, PLLC - A New Law and Mediation Firm

2009-01-23T10:05:00.000-08:00

Alona M. Gottfried, Esq. and Jared C. Simmons, Esq. started a new law and mediation firm: Simmons & Gottfried, PLLC on January 16, 2009.

Simmons and Gottfried, PLLC will offer legal services in the areas of collaborative divorce law, business law, family law, commercial law, transactional law, employment law and personal injury. Mediation services are also available to resolve law suits, business disputes, potential law suits, divorces and other family law and domestic partnership disputes, real estate disputes and many other areas of disputes.

To contact Alona Gottfried call 480-998-1500. The law offices of Simmons & Gottfried, PLLC are located at 3877 N. Seventh St. Suite 340, Phoenix, AZ 85014-0001.

Innovative Management Solutions

2009-01-19T08:08:00.000-08:00

Innovative Management Solutions is located in Tucson Arizona. It provides leading edge business integrity, ethics management and leadership to produce extraordinary results in organizations.

Innovative Management Solutions is committed to providing business teams, business owners and individual business people with tools that provide breakthrough results in their organizations and work relationships.

Innovative Management Solutions has the extraordinary ability to listen and create unique ideas that open up to possibilities in business.

Buyers Remorse When Buying A Home

2009-01-08T14:08:00.000-08:00

extravagance? Actually "Buyer's Remorse" is a perfectly sensible attitude. It's quite normal to feel both negative and positive feelings concerning your buying habits. Many people feel such excitement when anticipating shopping. Having money and a credit card gives a person a sense of power while shopping, only to be replaced by guilt and regret after returning home. Again, the feelings of remorse attack and the thrill of the purchases have lost their appeal.
Although there may be regret over purchases, and money spent, sometimes merchandise can be returned and they can receive refunds. But many items are non-refundable especially if on a special sale or discounted. A larger item such as a new car, can not be returned, except in some states, although sometimes can be exchanged for a different style car, but is considered used once it's driven off the lot, and money will be lost in the trading transaction.
So, after purchases, "Buyer's Remorse" often occurs! They feel they've lost control and there's an emotional disharmony clash between the desires for purchasing things they really may not need, and their feelings of having lost control of their buying/spending habits!

What Is Debt Forgiveness?

2009-01-07T12:49:00.000-08:00

To understand debt forgiveness, let's consider an illustration. Whether it concerns an individual, a local or state government, or even another nation; the same principle applies. Debt is incurred when something unexpected happens and there's an immediate need for financial help, beyond the person or government officials' ability to deal with! This could be from a natural disaster such as hurricanes, tornadoes, flooding, tsunamis, earthquakes or fires. With individuals, prolonged illness or debilitating accident could have caused his troubles. When faced with multiple problems, sometimes one following another, it becomes an impossibility to repay the debt. Forgiveness means eliminating all or part of the amount owed, thus reducing amount of loss overall. Nations can also be involved in this type transaction that may have occurred in past years. When applied to nations, this will also help develop the nation's economic situation.

There can be some advantages to the creditors who may decide on forgiving debts. This frees up time and money being spent in trying to collect on the amounts owed. One other point to consider is that due to laws and statutes concerning debt forgiveness, the creditor can use the unpaid loan as a tax deduction whether claiming all or only a partial amount of loss. The creditor then finds the debt forgiveness benefit on his taxes helps diminish the amount lost by the unpaid loan.

An individual debtor has a choice in deciding whether to have all or only part of his debt forgiven. When he has gone through financial troubles and can't meet his loan obligations, this ability to choose can really help him out. However, he needs to remember the amount of debt forgiveness will be considered as taxable income. While helping him out of one bad situation, it also creates another problem as he'll then be considered on a different tax level that year and have higher taxes to pay than he had anticipated.

When concerning a nation who is recovering from a national disaster and will be unable to repay debts borrowed from other countries for many years, those nations may decide to write off the money owed, rather than put extra hardship on the debtor country. It is determined a better way to deal with the situation rather than chance affecting the world's economy.

In discussing individuals or nations and loans made between them, debt forgiveness is not something to be taken lightly as there are other choices to be considered. If there's any possibility that financial circumstances will improve, then forgiving debt is not agreeable to the creditor. However, if financial improvement is not likely to happen within an appropriate length of time, then debt forgiveness appears to be the only option available.

How is the Real Estate Market in San Diego?

2008-08-21T09:21:00.000-07:00

The real estate market in San Diego has been slow to say the least. Property values are dropping fast and the foreclosure signs are popping up all over the place. It would probably be a few years before the market turns around there.

The next phase of loan resets should hit in 2009. Once this is through I think we will see where we are at in terms of market exposure.

http://www.mylesweisman.com/

What is a relo?

2008-07-30T09:08:00.000-07:00

What is a relo? The term relo stands for relocation property. A relocation property is a property that was purchased by a company for an employee who is being transferred to a new location. A relo is considered a benefit to the employee because they don't have to worry about selling their home. They just get a check from the relo company. The relo company takes on the burden of selling the property.

What is a RELO?

Real Estate Articles

What is a BPO?

2008-07-30T09:05:00.000-07:00

What is a BPO? BPO stands for broker price opinion. A realtor will do a bpo for a bank, lender or homeowner who is seeking to know what the value of their home is.

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Real Estate Articles

Ameridream could be going away

2008-07-23T08:15:00.000-07:00

Ameridream could be going away. That is if congress has anything to say about it. Under proposed legislation, an estimated 100,000 home buyers would be negatively impacted each year. The worst part about this is that it comes at one of our worst housing slumps in history. We need Ameridream to help keep the real estate market moving. Call 202-224-3121 and tell your elected official to keep DPA and down payment assistance programs part of the down payment option.

What is Ameridream

What is a amb4rloan finance loan?

2008-07-22T11:34:00.000-07:00

What is a amb4rloan finance loan? Who knows but you can find more information on finance at GetPrequalified.com

What is a qmberloan finance loan?

2008-07-22T11:30:00.000-07:00

What is a qmberloan finance loan? It is most likely a misspelling for cumberland finance loan.

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What is loan modification?

2008-07-22T10:54:00.001-07:00

What is loan modification? Loan modification is where you have a lender modify your original mortgage loan. You may have a situation where you are upside down or cannot make the new adjust interest rate payment. Lenders do not want to take your property back. They are very interested in helping you stay in the property. You must be able to demonstrate a hardship. So don't be surprised is they ask you for tax returns and bank account statements.

Mortgage Articles

What is a foreclosure?

2008-07-21T21:54:00.000-07:00

What is a foreclosure? A foreclosure is a process that a bank, lender or individual goes through to legal take possession of a property when the owner fails to pay the mortgage.

Foreclosure Articles

What does REO mean?

2008-07-21T21:50:00.000-07:00

What does REO mean? To some REO might mean REO Speedwagon but in the real estate business REO means Real Estate Owned. This signifies that a bank has taken a property back during a foreclosure and is now selling it.

More Real Estate Articles

Publish your real estate, mortgage, debt and credit articles now on GetPrequalified.com

2008-07-18T15:31:00.000-07:00

How do I publish my articles online? The answer is simple just go to GetPrequalified.com and read the editorial guidelines. You can publish anything relevant on mortgages, debt negotiation, real estate, debt consolidation, home improvement and credit repair. We will even give you a back link. For more information please go to GetPrequalified.com and read the terms of publication on the home page.

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Do I need Identity Theft Protection?

2008-07-18T09:05:00.000-07:00

Do I need Identity theft protection? You probably have seen the commercials all over the TV for LifeLock. Todd Davis the owner of LifeLock is proudly displaying his social security number all over a city bus in public. He is so confident that his service works that he is offering up to one million dollars of theft protection. These services are good, but your homeowners insurance policy may have you covered. Just call your insurance agent to see if you already have protection before you sign up for a credit protection program.

Identity Theft information

What is a Fraud Alert?

2008-07-18T08:48:00.000-07:00

What is a Fraud Alert? A fraud alert is a way to alert the credit bureaus that you have had a case of identity theft. If you want to open new credit after the fraud alert has been implemented, you will be called by the credit bureaus to make sure that it is valid. It makes it tough for a thief to open a new credit account because you will get called first before they can do anything. If you suspect that an identity thief has gotten a hold of your information you need only call one of the three credit bureaus to activate it across all three credit repositories.

Call the credit bureaus to active a fraud alert on your credit report

The Equifax fraud line is 1-800-525-6285

The Experian fraud line is 1-800-397-3724

The Transunion fraud line is 1-800-680-7289

Remember that you only need to call one.

I need information about credit reports

What happens if Fannie Mae and Freddie Mac go under?

2008-07-17T09:27:00.000-07:00

What would happen if Fannie Mae and Freddie Mac go under? If Fannie and Freddie were to fail, the real estate market would have a big problem on its hands. Cheap mortgage loans would probably dry and thus causing the real estate values to plummet. If you did want to get a home, the interest rate that you would pay would be a lot higher. Fannie Mae and Freddie Mac buy over half of all mortgage loans originated in the United States. If the government would not let Bear Stearns crash I can't see how they could let these two mortgage giants fail.

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How do you get Free Money

2008-07-09T08:50:00.000-07:00

How do you get free money? You can get free money to buy a home from the Ameridream corporation. You can get up to a 10% gift of the purchase price. You never get it back and its yours to keep. All you need to do is ask you loan officer to enroll you in the Ameridream program. It is that easy. The only kicker is that it will only work for an fha loan.

How do I get free money

How do I get rid of PMI?

2008-07-08T13:02:00.000-07:00

How do I get rid of PMI? If you have mortgage insurance or private mortgage insurance you will need to keep it for at least two years. If you pay down your mortgage to 80% of the original purchase price and you are past the two year mark, the lender has to take it off. I would call your bank and ask them for what their policy is for for getting rid of the mortgage insurance. The other option is to have your home at a 78% LTV. This means that the mortgage is 78% of the value. Well why wouldn't I do it at 80%? If you didn't put a lot of money down on the property and the value went way up in a two year period, you would not have to personally pay it down to the 80% level. The real estate market can help you get to a level that a bank will let you get rid of the pmi. You can either pay it down to 80% or let market appreciation get you to 78%. Either way this will help you get rid of the pmi. Getting rid of that extra payment each month will be very nice.

Additional information on how to get rid of pmi

Ameridream may be going away - ameri dream

2008-07-07T21:11:00.000-07:00

Hud is trying to impose a new rule to get rid of the charitable down payment assistance programs like Ameridream. Tell Hud that that would be a disaster in todays real estate market. Anything we can do to stimulate the real estate market would be a good thing. Taking dpa away would cut out 200,000 housing opportunities a year. Imagine what this would do to an already sluggish housing market. Tell Hud they have it wrong. Tell Hud that they need to support Ameridream and other down payment assistance programs. Go to Support Home Ownership to leave your comments.

What is Ameridream

What is Ameri Dream?

2008-07-07T11:30:00.000-07:00

What is Ameri Dream? Ameri Dream is a down payment assistance program to help low and middle income people buy homes. You can get up to a 3% down payment gift through the Ameri Dream non profit foundation. You can also get an additional 3% assistance for closing costs. So you can buy a home with no money down and no money out of pocket with Ameri Dream. The best part is that you can move into your new home with an immediate 3% equity. This is even a better deal than the Fannie Mae My Community loan program. On the My Community loan program you could get in for no money down but you would not have any equity if you did the 100% loan.

What is Ameri Dream?

Mortgage Education

instant credit builders

2008-07-01T09:00:00.000-07:00

Instant credit builders will be more interesting to you if you need to get your credit scores up fast. The first thing you want to do is to see if you credit bureau is even reporting correctly. Over 90% of all credit reports have errors. These errors could be pulling your score down. If there are errors on your credit report, you will need to write the credit bureau about having those items taken off. If your credit card has a zero balance, don't close it. If you close your credit card, all of your credit history goes with it. A good portion of your credit score is determined by your credit history.

Credit Report Tips

Instant-Credit-Builders

Lynx Gas Grill - Keep your summer AC bill down

2008-07-01T08:55:00.000-07:00

The Lynx_Gas_Grill will help you keep your summer air conditioning bills down. Cooking inside only heats up your home, thus running your air conditioning more which will raise your bill. Using the Lynx-Gas-Grill is fun as well. There is nothing better than a beer in one hand while flipping burgers with the other. It's also a great excuse to have a party. Don't delay pick up your Lynx Gas Grill today and start saving.

Lynx_Gas_Grill

Credit Builders - What will work to raise my credit score

2008-07-01T08:49:00.000-07:00

Credit Builders that can help raise my fico score. If your credit score is low, you may want to know some of the best ways to increase your credit score. The simplest way to increase your credit score is to pay your bills down to 30% of the available credit on them. Once you go over 30% of the available credit balance, you start to show up on the credit bureaus screen and they penalize your score. Pay your bills on time. Late payments are a killer to your credit score. One late payment can drop your score up to 100 points or more. Besides you don't want to start getting hit for late fees.

Tip to improve my credit score

E Loans Free Credit Score Offer - Is it useful

2008-06-30T16:59:00.000-07:00

E Loans free credit score offer will give you a CreditXpert credit score. It is not a score from the three credit bureaus, those being experion, equifax and transunion. The credit score that you get from ELoan will not be useful to you for getting a mortgage at any other mortgage company. The only place the E Loan Free Credit Report will work will be at ELoan. (What is the E Loan credit report offer)

How do I raise my credit score?

How do you dispose fluorescent light bulbs? Answer: Home Depot

2008-06-26T14:29:00.000-07:00

How do you dispose fluorescent light bulbs? The worlds largest home improvement retailer Home Depot announced today a program to forward favorable environmental protection. They will be launching a national in store consumer compact fluorescent or CFL bulb recycling program at all 1973 Home Depot locations. The bulbs must be unbroken. Just bring them in and Home Depot will dispose of them properly.

How can I go green?

What is FHA Secure?

2008-06-26T07:51:00.000-07:00

What is FHA Secure? FHA Secure is for homeowners that are behind, getting behind or have had recent late payments on their mortgages. The government stepped in and created this program to give relief to homeowners. Many of these homeowners have subprime mortgages that are going to adjust. Many of these homeowners will be unable to afford the new payments when their ARM loans adjust.

If you are concerned about your mortgage adjusting or the payment is too high contact any lender or mortgage officer. FHA Secure is offered across the entire country. Do not delay if you are in trouble. The sooner that you act the better.

What is FHA Secure

How do you get an FHA loan?

2008-06-25T22:55:00.000-07:00

How do you get an FHA loan? It's actually very easy. The majority of mortgage brokers, banks and lenders can arrange an FHA home mortgage for you. FHA allows people to buy homes with lower credit scores. You can even have collection accounts. Ask your loan officer to see if the can pre qualify you. It should not take very long and there should not be a fee to do this. You may also want to ask about the Ameridream gift program. You can get up to a 3% gift of equity with this program so be sure to ask. A seller has the option to pay all of your closing costs as well. So technically you can buy a home with an FHA loan with no money down and and no money out of pocket.

FHA information

When is my mortgage payment due?

2008-06-23T22:19:00.000-07:00

When is my mortgage payment due? Your mortgage payment most likely due on the 1st of each month. Most lenders do their accounting with mortgage payments being due on the first. There are a few lenders like World Savings can have their due date on a different day of the month. My old World Savings loan was due on the 15th of the month. Like I said earlier, your payment will most likely be due on the first of the month. It will be late after the 15th of the month and will show up as late on your credit report once you go over 30 days. So the late that is going to be bad for your credit report will show up after 30 days from the due date have passed.

To be on the safe side, just get your payment in on the 1st of each month.

When is my mortgage payment due?

Mortgage interest rates hit the bottom

2008-06-21T13:08:00.001-07:00

GetPrequalified.com is making its official statement that this is the bottom of the mortgage interest rates. Rates wont be going any lower. If you have been waiting to refinance your home or buy a home, you may not want to wait any longer. If you are waiting for lower rates, you may be disappointed by getting higher rates in the future.

GetPrequalified.com

Wilmington Finance closes its doors - Another one bites the dust

2008-06-18T14:55:00.000-07:00

Wilmington Finance will be closing its doors. Another dead body of the mortgage crisis. Wilmington Finance was known for Alt A and some sub prime products. My guess would be the losses just started to pile up to high.

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energia solar - solar energy, now is the time to act

2008-06-18T09:10:00.000-07:00

Energia solar when translated to English simply means solar energy. Solar energy is what we need to be seeing more of as the cost of gasoline and fossil fuels keeps rising. In the southwest where there are over 300 days of sunshine every year, energia solar just makes sense. I think government needs to get in with mandates and incentives for people to start installing solar devices on their homes. Anything we don now will impact our future greatly. Fossil fuels will not be able to carry the day in the future. We need to act now. (solar energy articles)

E Loans Free Credit Score Offer - Useful For A Mortgage?

2008-06-16T09:29:00.000-07:00

E Loans Free Credit Score offer does not give you your real credit scores. To get them, like so many other free credit report and credit scores you have to pay for them. On FreeCreditReport.com you will get a free credit report, but you will also be enrolled in a credit protection program to get the free credit report. The credit protection program cost money. So it's not really free. Just be sure to read the fine print before you sign on the dotted line for a free credit report. (Free Credit Report Information update)

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Fortuna Murcia Property Spain - Real Estate Investing

2008-06-14T12:15:00.000-07:00

Real Estate Investing in Fortuna Murcia Property Spain could be a smart thing to do in 2008. Regions in Spain have huge inventories including Fortuna and Murcia. (The real estate market in Fortuna Murcia Spain)

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Servamatic Solar Hot Water Heaters - Low cost solar solutions

2008-06-14T12:11:00.000-07:00

Servamatic Solar Hot Water Heater Systems are cheaper then PV systems and they are nearly maintenance free. Convert your hot water to solar. Solar hot water heaters can provide year round hot water in most climates. (Servamatic Solar Hot Water)

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Solar Panel Narrowboat Conversion - Becoming More Popular

2008-06-14T12:08:00.000-07:00

Solar Panel Narrowboat technology reduces environmental damage caused by running on diesel and reduction of noise pollution. Save money, make a difference and convert to solar. Solar solutions may be the best chance we have to reduce greenhouse emissions. (Solar Panel Narrowboat article)

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Property Lanzarote - Some interesting tips for buying in Lanzarote

2008-06-13T14:46:00.000-07:00

Lazarote is an island that is about 80 miles off the coast of Africa on the Atlantic Ocean. It is part of the Canary Islands. It is the fourth largest as well. If you are buying property there you need to be aware of the sellers unpaid bills. If you buy a home in Lanzarote and there are unpaid bills, the new buyer inherits them. You need to have a solicitor check the record to make sure that you are not getting more than you bargained for. The other thing is that no one agent lists a home for sale. It is possible for a property to be listed for sale by more than one agent in Lanzarote. It pays to speak with a few agents about a particular piece of property that you are interested in.

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Property Tax Consultants - 1031 tax deferred exchanges

2008-06-12T16:09:00.000-07:00

Property Tax Consultants can help you save a fortune in deferring capital gains on your investment property. A 1031 Tax Exchange is a great way to defer capital gains taxes on sold real estate investments. There are some rules to follow - learn the basics. (What is a 1031)

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Fortuna Murcia property Spain - it could be a great time to buy real estate in Spain

2008-06-12T16:03:00.000-07:00

Real Estate Investing in Fortuna Murcia Spain Property could be a smart thing to do in 2008. Regions in Spain have huge inventories including Fortuna and Murcia. Real Estate markets never stay the same. Now could be a great time to purchase property in Fortuna Murcia Spain. (Fortuna Murcia Property Spain)

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You may not be able to use disability income to qualify for a mortgage

2008-06-12T08:34:00.000-07:00

On a loan that I was working on for someone, I ran into a bit of a snag when it came time to verify the disability income with Social Security. To be able to count an income stream for conventional financing, you must be able to demonstrate payments for 3 consecutive years. That's fine, but the social security administration will not provide a letter stating that they plan on making these payments out to the beneficiaries. I asked someone there why and I was told that their position is that everyone is rehab able. From this standpoint anyone can get better, therefore no 3 year letter.

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What is Debt Negotiation?

2008-06-07T22:02:00.001-07:00

What is debt negotiation? Debt negotiation is an alternative to bankruptcy. If you are behind on your credit cards and unsecured debt, you do have options. Often times you can settle your debt for pennies on the dollar. The average debt negotiation settlement will range anywhere from 40-60 cents on the dollar. Once the debts are settled with you creditor, your credit score will go up. You will no longer have negative trade lines reporting on your credit report. If you are having financial trouble, debt settlement is a great option but it still may not be appropriate for you. You still may want to speak with an attorney just to see what the ramifications are of your financial condition. Do your homework before making your decision. Getting out of debt is one step at a time.

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Mortgage Rates could be in for a bumpy ride

2008-06-07T21:55:00.000-07:00

The stock market has been on a wild ride of late. Mortgage interest rates have also been along as a passenger with the market. I have seen .25% swings in one day. If you are in the market for a new mortgage, you need to pay attention to the stock market. I recomend being in close communication with your mortgage broker or mortgage banker about locking. One hour can make a big difference if the market decides to take a tumble or surge. You need to be ready to act quick because mortgage rates don't seem to stay in one place for very long.

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What is the BBB?

2008-06-05T07:59:00.000-07:00

The BBB stands for the better business bureau. The BBB is designed to help you find trustworthy and responsible business and charities. It gives you information about a company before you do business with them. It can also help you resolve a complaint that you have with a business. It will also alert consumers to bad business and advertising practices. If a company wont cooperate with the BBB they will be eliminated from the rating system.

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What is a secured loan?

2008-06-04T06:43:00.000-07:00

A secured loan is a loan that is collateralized by an asset. For example a home and a car are secured by the home or the car. If you stop paying on them, they will be foreclosed or repossessed. The bank or finance company will hold on to the deed or title until the loan has been paid off in full. Secured loans are the best way to get large amounts of money fast. A lender is not likely to loan a large amount of money to you without some skin in the game.

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What is APR?

2008-06-04T06:37:00.001-07:00

APR is also referred to as the annual percentage rate. It is a figure used to disclose the cost of credit. It is the yearly amount a borrower must pay for getting a loan or other type of consumer credit. By law, lenders are required to disclose this number to consumers. The function of the APR is to allow consumers to compare the costs of financing from different financial institutions. The APR makes it more difficult for banks and lenders to hide fees.

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What is Freddie Mac

2008-06-03T10:56:00.000-07:00

Freddie Mac stands for the Federal Home Loan Mortgage Corporation or FHLMC. It is a federal controlled organization designed to support the secondary mortgage market. It was originally chartered by Congress to increase the supply of funds that mortgage lenders, banks, mortgage brokers, credit unions and savings and loans to consumers to make home purchases. Freddie Mac was started in 1970, and is a business that buys mortgages from lenders and packages the mortgages into securities and then sells the securities to Wall Street. The proceeds of the sale of the securities is used to issue more loans.

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What is Fannie Mae

2008-06-03T10:49:00.000-07:00

Fannie Mae stands for the Federal National Mortgage Association. It is referred to as Fannie Mae, Fannie, FNMA or Fanny. Fannie Mae provides the secondary market for home mortgages. Fannie Mae has a specific criteria for mortgages that it sells. The loans are then put into mortgage pools and then are sold to Wall Street and other investment entities. Fannie Mae only deals in conforming loans. Currently a loan is conforming if it below a certain amount. For example in Maricopa County Arizona, the conforming loan limit is $417,000. Anything about this amount would be considered a Jumbo Loan and would have a different set of lending criteria.

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What is a 1031 exchange?

2008-06-02T10:08:00.000-07:00

If you hear people talking about doing a 1031, they are referring to Section 1031 of the IRS code that allows real estate investors to sell an investment property and to buy another one with out paying capital gains taxes. To do a 1031, you do have to follow certain rules as prescribed by the irs tax code. The new properties that are going to be purchased must be Like Kind and must be identified within 45 days of closing of the initial property. All of the proceeds from the initial sale must be used to buy the new investment property and must be turned over to an intermediary or a Qualified Intermediary. The funds will be held in escrow until they are need to complete the next purchase. For the rules of doing a 1031 exchange, contact a title company. Most title companies have departments that specialize in handling 1031 exchanges. They can answer all of your questions.

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What is a FSBO

2008-06-02T09:11:00.001-07:00

The acronym FSBO simply means For Sale By Owner. The term is predominantly used in the world of Real Estate. When someone sells their home without the use of a real estate agent they are selling their home on their own or they are For Sale By Owner. The benefit of being a seller and being a FSBO is that you don't have to pay a real estate agent a commission to sell your home and you can put more of the equity in your pocket at the time of closing. Buyers assume that since no commission is being paid to a Realtor they can get a better price. This assumption may not always be true since the seller probably isn't going to pass the benefit on to you as the buyer. It is mainly held to be more of a benefit to the seller of real estate and not the buyer.

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What is Ameridream

2008-06-02T09:06:00.000-07:00

AmeriDream is a 501(c)(3) charitable organization that is committed to helping those who want to purchase affordable and suitable housing and need financial assistance with their down payment and closing costs. As a buyer you can negotiate with a home seller to give you a 3% down payment and cover all of your closing costs. This give you the ability to buy a home with no money down and move in with a little equity. To find out more about the Ameridream down payment assistance program, contact your Realtor or Loan Officer.

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What is Amortization?

2008-05-31T12:16:00.000-07:00

A mortgage loan that is amortized has a fixed payment over a fixed period of years. Each payment has a portion of the payment going towards interest and principal. The longer the loan goes the higher the amount of the payment goes towards principal and a lower amount is charged to interest. Most of the interest paid on an amortized loan is paid in the beginning of the loan. In fact on a 30 year loan you don't even own half of your home until the 24th year. Your best bet is to pay as much as you can in the beginning of the mortgage to save yourself thousands of dollars.

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What is a balloon payment for a mortgage?

2008-05-31T12:10:00.000-07:00

A balloon payment would be the amount of money that is due at the end of a loan. Not all loans are 30 years. Some mortgage loans allow you to pay a lower payment for a short period of years with a balance that is due at the end. Typically these types of mortgage loans are 5 to 7 years in length. They differ from adjustable loans in that and adjustable loan will have a rate adjustment at the end of the fixed period versus have the entire balance due like on a balloon payment mortgage.

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What is a wrap or wraparound loan?

2008-05-31T12:00:00.000-07:00

Commonly referred to as a wrap, carry, carry back or wrap around loan, This type of financing is when a buyer takes over the payments for the seller. This allows the buyer to get a loan without qualifying. The only catch is that most residential mortgage loans have a due on sale clause. What this would mean for a wrap loan is that once the title is transferred to a new owner, the loan should be paid off. Most lenders don't have a habit of checking on the status of the title. The banks main concern is the the mortgage instrument is being paid. As long as it is not deficient they usually don't care.

If you are considering doing a wrap or wraparound loan, I would recommend speaking with an attorney first. This type of loan does come with some concerns that need to be addressed.

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Free money to buy a home

2008-05-30T23:51:00.001-07:00

No I'm not crazy. With the Ameridream program you can get a seller to contribute 3% of your down payment for your home purchase. If you don't have any money, the fha will also allow a seller to pick up all of your closing costs. Effectively you can still buy a home with no money down and have equity in the property. The key is to find a seller that is willing to provide you this funding. With the real estate market the way it is, sellers have to be more aggressive in the marketing of properties. A seller can give you up to a 6% concession on an FHA loan. In a buyers market, you should be able to find a seller that is willing.

Get me gift money

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What is Chattel?

2008-05-30T08:40:00.001-07:00

Chattel is a term used in the real estate world to refer to personal property. In a residential transaction, the purchaser is buying the real estated or everything nailed down to the property. If it is not nailed down, it is assumed to go with the seller. A refrigerator that is not nailed down is assumed to be the property of the owner and will go out the door with the seller. It is considered chattel. Unless there is a written agreement to the contrary, the refrigerator will go with the seller.

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What does Abeyance mean?

2008-05-30T08:34:00.000-07:00

The term Abeyance is a french word that when translated means "gaping". An abeyance refers to property where there is an absence of clear ownership or title to a piece of real estate. Abeyance also carries the expectation that the ownership issue will be resolved in a quick and reasonable period of time.

During an Abeyance the property is not allowed to be sold. There must be owner of record for a property to be sold. Once the Abeyance is resolved, the person who is determined to be the owner will be responsible for the taxes.

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What is a REIT?

2008-05-30T08:27:00.000-07:00

In short, the term REIT stands for Real Estate Investment Trust. A REIT is a company that owns and most often will manage income producing real estate. The US Congress established the REIT back in the late 1960s to give small investors the opportunity to invest in large income producing real estate. Most REIT stocks are traded freely on most major stock exchanges.

There are over 180 REIT entities today. Most REITs focus on one particular type of real estate. Others handle the management and the maintenance of real estate.

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What you don't know about Jumbo Loans may kill you

2008-05-29T22:23:00.000-07:00

If you are trying to sell a home that would require a jumbo mortgage you may be in for a shock. What most people don't know is that their is a big difference between conforming loans and jumbo loans when it comes to interest rates. Jumbo rates can be as much as 3% higher than conforming loan limits. Some Jumbo mortgage interest rates are 9% or more. This is bad news if you are marketing a luxury home. These higher rates makes the pool of buyers much smaller. The best bet obviously is if they can pay cash. If not, you may need to wait it out or be very patient when trying to find a buyer. It is just going to take longer to get these properties sold. I think most people don't realize how much jumbo mortgage rates have jumped. This is just the banks way of hedging their bets right now. Banks have more exposure when it comes to jumbo loan. With all of the turmoil due to the credit crunch, many lenders are just skid dish now.

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Will Global Warming impact property values in the Southwest?

2008-05-29T15:31:00.000-07:00

I have been hear more conversations in the media regarding the impact of global warming on property values. I just saw a story in Florida about owner that are concerned about their beach front properties being less desirable because of hurricanes and rising sea levels. A similar conversation has started in the Southwest in some of the most arid areas such as Arizona, Nevada and parts of California. Hot summers now would be unbearable if it were another 5 degrees warmer. I can't imagine anyone wanting to move to Phoenix with temperatures a constant 120 degrees in the summer. What do you think?

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There are no Stated Income Jumbo Loans

2008-05-24T09:11:00.000-07:00

I have had two calls this week from self employed people who want stated income jumbo loans. To set the record straight, there aren't any anymore. If you are self employed and want to buy a home, you will have to start reporting your income. I just spoke with a gentleman who needed a refi on a $600,000 mortgage. He had equity in the home for it was worth over $1,500,000. I got his tax returns and he is reporting just over $50,000 in come. This was a well to do individual who was belligerent in his assertion that he should have no problem in getting a loan. Well the truth is the banks don't care who you are anymore, they are going by the book these days. If you don't have documentable income, then no loan for you. Stated income loans help people skirt the issue of declaring income. I don't blame people for wanting to reduce their tax burden, but it is time to pay the piper now.

What is Ameridream?

2008-05-23T15:56:00.000-07:00

Ameridream is a non profit company that helps low to moderate income individuals or families by a home by providing down payment assistance. The Ameridream dpa program has been setting the standard for which all other down payment assistance programs strive to be. To get the Ameridream cash assistance, you must find a seller that is willing to participate in the program. The seller pledges money from the proceeds of the sale to the Ameridream foundation. In exchange Ameridream will gift the buyer the down payment needed for the FHA financing. Typically it is 3%.

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Interest Rates may have hit bottom according to the Federal Reserve

2008-05-22T07:40:00.000-07:00

The fed made it's quarterly speech yesterday. It appears they are taking the stance of no further rate cuts. The market is now on its own. If you are waiting for interest rates to go any lower, they wont. If you think Obama is going to win the election you better refi now. I don't think interest rates are going to go any lower at this point.

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Is The Real Estate Market Ever Going To Come Back?

2008-05-21T09:35:00.000-07:00

May 21, 2008

Is The Real Estate Market Ever Going To Come Back?

I hear it everyday… Will this real estate market ever come back? How long is this going to last? Have we hit the bottom yet? Well, the honest answer is, no one knows for sure. If you were to line up ten educated and seasoned real estate analysts, you’d surely get a 50/50 split in the opinions. Some say we’ve already hit bottom, other’s say we won’t see it until Spring 2009. It certainly seems like the newspapers do all they can to keep a negative spin on current conditions! I recently came across this excerpt from the Wall Street Journal, one of the finest of all newspaper publications. For once, a newspaper, more importantly, the WSJ offers a more positive spin which gives homeowners and consumers hope. Read on…

May 16, 2008 (Wall Street Journal) Home construction turned up unexpectedly in April and showed surprising vigor, making the biggest increase in two years, while building permits also rose, a sign of optimism for the sickly housing sector. Housing starts increased 8.2% to a seasonally adjusted 1.032 million annual rate, driven higher by a surge in apartment buildingconstruction, the Commerce Department said. Starts plunged by a revised 13.8% in March to 954,000. Economists expected April starts to drop by 1.4% to a 934,000-unit annual rate.

Written By: Dan Blew, Propertynut.com (with contribution from the Wall Street Journal)

Can I still buy a home with no money down?

2008-05-20T22:08:00.000-07:00

Easy answer is yes. FHA has some great options available. With an FHA mortgage you are allowed to have a seller pay all of your closing costs and provide a down payment. You must find a seller that is willing to do this because all of this money comes out of their proceeds. But in a down market sellers are more willing to do this if they are motivated to sell their property. My advice is to find a Realtor this is familiar with FHA financing knowledge to help you work out a no closing cost home purchase.

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Your Realtor may ask you for money upfront due to high gas prices

2008-05-20T16:03:00.000-07:00

With gas approaching $4 a gallon this summer, don't be surprised if your real estate agent asks for money up front before showing you property. It used to be that one of the perks of using a real estate agent was getting shown property on the agents nickel. I am now hearing reports of agents getting a fuel retainer to cover costs in looking at property. It is also a great way see if a buyer is really serious about looking for property or are they just tire kickers.

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How Do I Advertise My Property Online - PropertyNut

2008-05-19T21:31:00.000-07:00

Need to rise above the competition with selling your home, or your property listings? Find out why PropertyNut.com is a great service in helping 1000's of houses for sale to get sold! (click for Full Story)

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Get to Know the Power of FSBO - For Sale By Owner

2008-05-19T21:29:00.001-07:00

If you are considering selling your home on your own, aka For Sale By Owner, or FSBO you should read this article. It is gratifying to sell your own home, but there are some things you ought to know before you set out on this journey.

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Real Estate Sales Contract - Unique Items To Observe

2008-05-19T21:27:00.000-07:00

If you are selling your own home, you will need to be prepared. Read this article to get tips on what you need to know about the real estate sales contract click for Full Story)

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Need To Sell Your Home - Look Online For A Listing Agent

2008-05-18T20:02:00.000-07:00

There are a ton of real estate agents, but not that many of them know how to effectively advertise homes on the internet. Most agents rely on their office to upload properties on the MLS and hope that the word gets out about their listings. This is not sufficient - Look Online For A Listing Agent

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How To Write An Ad For A Home On The Internet

2008-05-18T20:00:00.000-07:00

There are many websites to sell a home online. And there are many homes for sale online. The key to getting your home found online is your ad. Write your ad for the home buyer - the searcher. Find more about how to write your ad to sell your home online.

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Credit Report companies do not allow Affiliate Marketing with credit repair companies

2008-05-16T12:54:00.000-07:00

If you are a website owner and offer credit repair content on your website, credit reporting companies such as transunion, equifax and experion will not allow you to sell a credit pulling product on your website. Seems odd that the credit reporting agencies do not want you to get information that might help you improve your credit score. I saw this information on commission junction. I was interested in offereing people the ability to pull their tri merge credit report on my website.

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Foreclosures continue to rise in April

2008-05-14T14:24:00.000-07:00

The new numbers on new foreclosures are out and they are not good. Compared to last years numbers, foreclosures are up 65%. Nationwide over 240,000 households received at least one foreclosure filing. This is up from just over 147,000 as compared to last years numbers. This is according to Realty Trac. The hardest hit states for foreclosure are Nevada, Arizona, California and Florida.

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Is debt consolidation right for me

2008-05-13T14:08:00.000-07:00

Is debt consolidation right for me? It depends. If you have been late a few times and your rates have been raised to where your can't afford the payments anymore. You may want to consider a debt consolidation program. Typically we are talking about consumer credit counseling. It is no longer a dirty word. It used to be that in a CCCS program you could not get a mortgage. It was looked at as a chapter 13 bankruptcy. Now you can buy a home even if you are in a consumer credit counseling program. The history shows that people in a consolidation program are no more likely to default than people that are not in a program. One nice thing that a negotiation program can do for you is to stop rolling lates and over the limit fees. This can be a real killer for people.

Before you sign up for any program, check online with the rip off report and the Better Business Bureau.

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Debt Negotiation may be cheaper than filing a Chapter 13 bankruptcy

2008-05-12T20:21:00.000-07:00

I just had a client that was interested in doing a debt negotiation program. They checked with their attorney to see what the monthly payback would be and it worked out that it was cheaper to do a debt negotiation program than a chapter 13 bk. From my understanding it is that the laws for bankruptcy have gotten a lot tougher so it may be cheaper to do a debt settlement program. If you are considering a bankruptcy, you may want to check with a debt negotiation company just to compare what the payments would be.

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Realtors beware, your clients down payment could be disappearing

2008-05-11T12:37:00.001-07:00

Many people use their home equity lines as down payments. If you are a Realtor you need to be aware that banks are pulling back and canceling many of them. I have had mine canceled in recent days. I would advise you to tell your client to pull the money out now and not when they need it. Because when they need it, it may not be there.

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The best real estate deal if you are buying a home is Ameridream

2008-05-11T06:57:00.000-07:00

If you are a low to moderate income buyer and are looking to buy a new home, then you might want to get a gift of equity to buy your home. AmeriDream is a charitable company who is committed to people being able to buy a home who need down payment and closing cost assistance.

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There are no real estate appraisers in Ireland

2008-05-10T17:16:00.000-07:00

When I was in Ireland I learned that they do not have real estate appraisers. Over there the estate agent or real estate agent does the property evaluation. One of the issues being covered in the news while I was over there was that some agents were inflating some of the values by as much as twenty percent.

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Why it's bad news that millions of home equity lines are bing cancelled

2008-05-10T17:12:00.000-07:00

From the previous post I reported on my home equity line of credit or heloc was cancelled by National City. This is bad news for the economy because millions of home owners were tapping there home equity lines to make purchases, buy cars, make home improvements or just go on vacation. With these credit lines no longer available, this only means less money being put into consumer spending and the economy. My guess would be that it will take a few years to get the economy turned around. Hopefully lenders will loosen their lending guidelines which will make it easier for people to get money. This would help.

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