FHA Refinance Mortgage

Qualify for a VA Loan Today

Tue, 10 Aug 2010 10:21:42 GMT

As homebuyers scramble to use taxcredits and capitalize on interest rates before they skyrocket, veterans andmilitary personnel can take solace in an exclusive home loan program. The VeteransAffairs Home Loan Guaranty program eases the home-buying process forveterans and active-duty service members. With a long list of advantages, VA loans aidmillions of our nation’s heroes in becoming homeowners.

            Even with competitive interest ratesand the absence of a private mortgage insurance, the program’s most-citedadvantage is no down payment for qualified borrowers. For putting nothing down,certain borrowers can finance a home worth up to $417,000. In pricier housingmarkets, the loanlimit is higher.
            Qualifyingfor VA loans is easier than doing so for conventional mortgages. First, theVA has no credit requirement, and lenders look for scores of about 620. Second,histories of foreclosure or bankruptcy are not grounds for immediatedisapproval. Third, income requirements aren’t as stringent as traditional loanoption.
            To be eligible for a VA loan,borrowers often fall into one of three categories. Those who may be eligibleinclude:

-Military members who served 90 dayson active duty during war time, or 181 days during peace time.

-Members who served 6 years in theReserves or National Guard.

            -Spouses of those who died in theline of duty.
            If you want to fast track theprocess for a VA loan, you can get pre-qualifiedwith a VA-approved lender. Pre-qualifying is quick, easy and non-obligatory. Theprocess will help you figure out your qualification status and how big your VAloan could be.
            You can also simply fill out aCertificate ofEligibility (COE) from a lender or the VA website. COEs verify that youmeet initial eligibility requirements and are the first official step inearning a VA loan. Either way, it never hurts to seek the services of aVA-certified lender who knows how to make the most of your loan.

Realtors, get with the Short Sale program!

Mon, 14 Jun 2010 13:53:09 GMT

Maybe this post is a little late, but I’m still hearing comments from real estate agents that they do not want to deal with Las Vegas short sales because of the perceived risks. In fact, I’m not just referring to Las Vegas real estate agents – I have heard it from agents in a variety of the states that I do most of my mortgage work in like: California, Nevada, and Arizona.

“Come on,” I say. “No pain, no gain, right?”

Seriously, though, I think what is still missing that many realtors do not realize the potential benefits of short sales. Let’s look at a few.

First, look at the sheer number of short sales and foreclosures out there now. If you don’t want to handle short sales then all I can say is I hope you have a second job that is not in real estate. You are seriously losing business. The percentage of short sales and REOs is only going to increase because lenders will be doing more and more of them in the future. At least I’ve heard the “experts” suggest at least for the next 2-5 years.

Then there are the tax implications and deficiency liability considerations for your potential client – the homeowner considering a short sale. In a short sale, the lender has the option to release the homeowner from such liabilities if the deal is properly negotiated. At the very least, the deficiency may be less in a short sale than in a trustee sale where the house sells for a lower price.

Then there are the federal programs. Thanks to them, programs like HAMP and HAFA have helped erase the social and ethical stigmas of a short sale and legitimized the process. Let’s not mention the fact that it still appears as though these programs are having a very minimal impact at providing relief to the housing market – leaving room for more and more people looking at short sale as an option.

Finally, there is the fact that, no matter how hard the federal government has tried to push them, loan modifications have failed consumers. Loan mods in many cases are less about helping the homeowner and more about getting them to keep up some sort of payment to the lender.

So, my realtor friends, getting into the short sale biz is a stepping stone to the future. But if you’re still not interested, I hear Circle K is hiring.

One Experts Opinion About Changes Needed To The VA Loan Program

Tue, 30 Mar 2010 10:57:47 GMT

In the beginning the VA loan program was almost perfection. I have been working with veterans and VA home loans since 1997 and had been in the mortgage industry ever since. I had plenty of opportunities to jump on the subprime mortgage bandwagon, the option arm and wagon, and a full array of other mortgage loans that I did not feel were beneficial to the home owner, but would've made me a lot more money. When I was first introduced professionally into the mortgage arena I was taught how to do VA loans and work with military families and veterans. I quickly grew fond of the VA home loan program because of the many benefits it offers veterans and their families.

In a previous write-up on the top three reasons it is harder for a veteran to refinance and pass, I explained some major changes that have happened to the VA streamline refinance program as a result of the housing and financial crisis. I would like to go into a little bit more detail today not what changes have occurred but more importantly what changes I feel need to be made to the entire VA loan program.

Anyone who has served or is currently serving in our nation's armed forces shortly deserves special benefits that civilians and others are not entitled to. The VA home loan program is just one of the many benefits for entitlements that our government has granted to deserving an eligible veterans and active-duty military. I am not saying that the VA home loan should be given recklessly to anyone who wants one, nor am I saying that veterans should be allowed to buy or finance homes that are outside of their financial reach. What I am saying however, is that the VA home loan program should be looked at as a benefit, a privilege, and a blessing to those who've secured our freedoms.

Just a few short years ago the VA home loan program was working efficiently in my opinion almost perfectly. There are a few things that I feel should have been changed or improved to the VA home loan program even prior to the housing and economic meltdown, however there are now additional changes I will outline in field should be made.

First, let's chat about the VA purchased loan in the areas where I feel there could be some positive changes made. One of the major benefits of a VA home loan purchase is that it allows eligible veterans to buy a home with no money down, also known as 100% financing. I commend Banks and the VA for continuing to allow 100% fine. That said, here is a list of things I feel should be changed:

FICO scores should not be required to be so high.
Certain closing costs should be allowed to be charged to the veteran.
The VA appraisal process should be easier and faster.
Non spouses should be able to co-sign.

Someone's FICO score credit rating is certainly a good indicator of their ability to pay their bills on time. However, I have found especially for active duty military or even veterans who while serving were injured, that the FICO or credit rating is not always an accurate indicator of their ability to make their mortgage payments in a timely manner.

I feel that VA mortgage companies and banks should look at each veteran's case on an individual basis and try to determine what has caused the negative credit rating and what has been done or will be done to improve that credit rating going forward. For example, if a veteran was injured in combat and has had numerous medical bills go into default or become past due, but is making all of their utility bills, credit card bills, and other bills on time then should we really keep them from the goal of home ownership? If anyone deserves an extra look into your credit profile is our military families and those that served his country faithfully.

In an attempt to protect the veteran home buyer or veteran home owner the VA has put together a list of non-allowable closing costs or charges. In theory, this is a great idea because it protects the veteran from being charged fees that are not necessary. Unfortunately, mortgage lenders and mortgage originators have learned to increase over allowable fees and charges to compensate for the list of non-allowable VA fees and charges. I can tell you from years of experience working with veterans that there are some necessary and very many legitimate closing costs and charges that are incurred on a refinance or purchase transaction.

By making it the responsibility of either the loan officer or the seller to cover these costs many times veterans are encouraged to pursue other non-VA backed mortgages. In an attempt to skirt the fees or the issue at hand veterans are pushed or coerced into other loans that are not nearly as beneficial as the VA loan would have been. It is my suggestion that veterans should be able to pay for closing costs that other nonveterans and regular home buyers are about to pay.

This puts the veteran on an even playing field and allows the veteran to determine if the other benefits of the VA home loan are enough to make the veteran wanted to use a VA loan your purchase or refinance their property.

The current process by which a veteran orders and appraisal on their property for either a VA purchased for VA refinance is tedious and more importantly it takes too long. Not only does the appraisal process take too long but experience and research show normally speaking a veterans appraisal will come in at a lower value than if a non-VA appraisal was done. This could be good and it can also be bad.

When a VA appraiser takes a conservative approach to determining a home's value the veteran is ultimately protected from an inflated value or haven't paid too much for their home. However, I have also seen cases where a veteran was not able to purchase or refinance his home because the VA appraiser or was overly cautious in determining the homes worth or value.

In an attempt to keep the loan originator from speaking and possibly influencing the appraiser's determination of value, the VA makes it difficult for there to be any conversation between the appraiser and the mortgage company during the appraisal process. I commend the VA's approach to standing out mortgage fraud, however I feel the process by which a VA appraisal was done could use some improvement.

Finally, an area that I feel needs more improvement or changes is a veteran of ability to use a co-borrower to whom they are not married. The current situation is that a veteran must be married to a person they are putting on the loan. For example if a young soldier returns from active duty, secures employment and tries to buy a home but does not make enough money to qualify it by himself or by herself, then it is impossible with a VA loan to purchase property.

Should that soldier's father went to cosign and take upon himself the fiscal responsibility of making sure the mortgage payments are paid in a timely manner, then he should be able to do so. I haven't even seen a veteran engaged to his sweetheart, who makes more money than he does, still not be able to buy a home because he was not legally married. I have never been able to determine the theory or thought process the VA had when they created this rule.

Conventional or FHA loans is possible to have a family member cosign and make the home application process a reality for those who do not make enough money on their own. I feel the VA needs to follow this lead and allow veterans to secure home financing with the assistance of a non-spouse.

So in my years of experience in working with veteran homeowners I feel that these are the areas where the Department of Veterans Affairs and approved VA lenders need to put their heads together and create a better financing option for veterans.

New Mortgage Office

Fri, 26 Feb 2010 10:12:13 GMT

My friend Christoph Schweiger announced that his new office is now open for business today.

Christoph works for Sunstreet Mortgage in their new Mesa office and is surely to rise fast t be one of the valley’s most respected loan officers.

Christoph comes from the Real Estate side and having recently made the move to becoming a loan officer, he will be easy for Realtors to work with because he understands what it is like to be on the other side of the fence.

And if you are a buyer, who better to work with that understands the Realtor’s needs regarding your transaction as well as the lending requirements?

Who’s Keeping Up With Toronto?

Wed, 24 Feb 2010 19:55:35 GMT

There is no doubt the last twelve to eighteen months have been pretty tough economically all across Canada and the rest of the world. One of the most difficult aspects of this economic downturn has been the negative impact on home prices, an issue that affects people in many different income ranges and with many different financial situations. Fortunately, Toronto home prices have begun to rebound quite nicely, but what other areas are keeping up with us in this area?

Toronto’s positive home market performance
A good place to start is with a closer look at the kind of positive economic performance Toronto has enjoyed thanks to its relatively strong bounce back in the housing market. The market may have struggled in the last year, but all indicators are our real estate market is rapidly turning around to a positive direction.

Consider these favourable indicators:
Growth in average sales price – The average sales price in October, 2009, is up 20% in comparison to the same month in 2008

Total sales in 2009 – Although the most recent sales figures are only available through October, the Toronto market is on track to exceed 2008’s total sales by up to 9%.

Across the board growth – Growth in the Toronto housing market has effectively been across all price ranges and classes of property, an extremely positive sign

(Source: Toronto Real Estate Board)

There is no doubt that Toronto seems to have weathered the worst of the storm in the housing market, but what other areas have experienced this same kind of positive rebound?

Other areas with positive housing market indicators
A number of other areas are also showing positive housing market indicators, a good sign for those cities and regions where this is occurring. Some examples of places that appear to be keeping up nicely with Toronto include:

Arkansas, U.S.A. – This state in the southern part of the United States has typically struggled severely during economic downturns, and this most recent difficult time has been no exception. However, according to the Arkansas Realtors Association the tide appears to be turning; in September, 2009, housing sales were up compared to the same time period in 2008, a good start that they are optimistic will continue into the new year thanks in part to generous federal tax credits for first time home buyers.

Winnipeg, Manitoba – This rapidly growing city has largely avoided the steep declines in their housing market compared to others; according to the Canada Mortgage and Housing Corporation they are on track to experience up to a 2.5% increase in housing starts for 2009 compared to 2008, with up to a 3% increase forecast for 2010. While these might not seem like huge numbers, compared to areas where housing starts have been down as much as 11% or more during the same time period they look pretty good.

Montreal, Quebec – This is another Canadian city that has weathered the economic crisis relatively well in terms of their housing market. Again according to the Canada Mortgage and Housing Corporation, housing starts for 2009 are on track to be up approximately 2.4% with an increase of approximately 2.5% forecast for 2010. This is good steady growth that is a positive sign for the city of Montreal.

This is just a sampling of other areas that are keeping up well with the Toronto real estate and housing market results for 2009 and going into 2010. Let’s hope the positive indicators continue during that time period and that they spread throughout other areas as well.

About the Author:
I was born and raised in Central Toronto, spending my whole life in the neighborhoods that I now work, and in the Toronto Real Estate industry. I understand all the nuances of Toronto’s various communities & what Toronto real estate agents have to deal with.

I have dedicated my education to negotiating, marketing business development and staying ahead of the curve with technology. I have attended international conferences, understand major agencies like Johnston and Daniel, all of which has helped me learn how I can provide more efficient, effective and thorough service.

FHA Flip Rule Video

Thu, 18 Feb 2010 22:31:25 GMT

A video about the FHA flip rule - hat tip to Mark Madsen at MyFHAMortgageBlog for letting me know about it. The flip rule being relaxed means that many investors can now do things that they couldn't before the flip rule was waived

Are you wondering how the FHA flip rule will impact you if you are looking to invest and flip a home?

Be sure to watch the video!

Saving Money In A Down Economy

Mon, 02 Nov 2009 19:43:25 GMT

It is no mystery that we are all living in a down economy and things are a little bit tighter when it comes to household expenses. Some people clip coupons, some cut down on the number of times they go out to eat and some have even gone as far as to sell the 2nd car or have their spouse start working.

Yet many people overlook one of the simplest things that they can do to save money - get a cheap insurance quote from competing companies who will work hard to earn your business. Shopping for insurance isn't one of those "fun" things that you can do in life, but it is one where the return-on-effort is at a very high level.

Clipping coupons will save you a little bit of money, sure - but saving hundreds of dollars on your car insurance, homeowners insurance, whatever is something that gives you way more bang-for-the-buck when it comes to your time. Clipping coupons takes time. Shopping for insurance takes time. Both don't take lots of time - but as far as saving money... saving hundreds on your insurance takes way less time.

And saving money is something that everyone is looking to do -- without spending too much time.

Use a free mortgage calculator and find out your affordability

Tue, 13 Oct 2009 10:13:04 GMT

Whether you want to buy your dream home or buy a dress you have always longed for you will find all of them out there – on the World Wide Web. Buying a home has never been easier. Not only that you can also find out how much you can afford if you want to take out a mortgage. Websites offer free mortgage calculator that can help you to find out the type of house you can look around for.

Mortgage calculators are of great help as they help you to plan out your finances well in advance. There are many factors that you need to consider if you are planning to buy a house. These include the rate of interest according to which you will be making payments, the durationof the loan, your debt-to income ratio, your income etc.

Your debt-to income ratio is vital as it reflects your repayment capacity. DTI indicates the amount you pay from your paycheck to fulfill your monthly debt obligations. Interest rate is equally important. This is because if you opt for FRM or fixed-rate mortgage, you will be able tomake fixed payment throughout the term of the loan. But if the rates decline, you will not be able to avail reduced rates. On the other ARM will allow you to pay low initially but your payments will fluctuate depending on the market conditions. When you use loan term free mortgage calculator, it will help you to find out the amount you pay if you are opting for 15-year and 30-year loan term.

So, when you can find out your affordability from the comfort of your home or office, it isn’t wise to forego the opportunity that can help you to hit upon your dream home.

FHA Streamline Program Changes

Thu, 08 Oct 2009 03:59:18 GMT

The rules of the mortgage business are always changing - and the most recent change is to the FHA streamline program. If you currently have an FHA loan, now is the time to refinance before the upcoming FHA streamline changes take effect.

Recently, there an new announcement from HUD and as a result, on November 17 of this year, the rules of the FHA streamline program are going to make it more difficult to refinance.

For anyone who was living in their home where they owe more than it is worth, the FHA streamline program has been great because it allows you to refinance even though you don't have any equity in the property due to the no-appraisal FHA streamline option.

Before the announcement, for the FHA refinance streamline program , it was a no-income, no asset, no credit score (although this changed for many lenders recently, not all), no appraisal program. Now with the upcoming changes, these things are really no longer true.

What does all this mean? In short -- if you currently have an FHA loan that is a higher than 5.5% rate -- now is the time to refinance... before the rules change.

Phoenix AZ Home Search

Wed, 07 Oct 2009 05:41:17 GMT

It seems as though every real estate website in the Phoenix real estate market offers ways to search the Real Estate Phoenix MLS. In a sense, each of these real estate websites leave the job of searching for homes up to you – they offer you the job of doing your own search. Some realtor websites even have maps with hundreds of pin points and even a wide area radius search for a home on the Phoenix MLS. But whose job is it really to search the MLS?

There’s one real estate group from Realty Executives called Team III, headed by Duane Washkowiak who think it is their job to do the searching on the Phoenix MLS on your behalf. You will find the Real Estate Phoenix MLS service on their website, but they know that to get home buyers who with them to buy a home they know they need to bring all of their training, knowledge and experience to maximize the MLS tool to find their home buyers the best Phoenix real estate they can find.

Team III invests their time and real estate search skills so you can do what you need to do during the home buying process like: ensure your mortgage financing goes through without a hitch, think about how your home will look once you own it, and enjoy your evenings with family and friends. When it’s time to begin and complete that Phoenix real estate MLS search you should consider working with Duane Washkowiak and Team III from Realty Executives. They know Phoenix real estate as good as anybody.

Great Deals On Tempe Condos

Wed, 07 Oct 2009 05:30:13 GMT

Now that there are great deals to be had all over Arizona, many parents are deciding that now may be the time to start looking for Tempe AZ Condos For Sale for their ASU student. One of the most popular developments is the Tempe Town Place Condos but there are plenty of other great condo locations in the area.

One local Realtor, Dean Ouellette specializes in the Tempe Condo market and according to Dean, the Tempe Luxury condo market and Phoenix luxurycondo market over the last few years have been hit especially hard.Both condo markets have been slower to recover than the single familyresidential market.

Dean notes that most owners of condos that have bought them recently now owe more than their condo is worth and thus are required to short sell the property when it comes time to close. Whether you are buying or selling a short sale property, it is important to work with anagent who specializes in short sale and foreclosure transactions.

Dean Ouellette spends a tremendous amount of time studying andworking in the Tempe and Phoenix condo markets. He has the knowledge tohelp you buy or sell your condo in this challenging market. If you arelooking to sell your Tempe condo and need someone who has successfullydealt with condo short sales or you are looking to purchase a condoforeclosure Dean can help.

Sure, stranger things have happened...

Wed, 23 Sep 2009 16:53:24 GMT

Recently, some home buyers are having problems with having banks like Huntington National Bank wanting them to sign documents before they will even look at their offer.

Dear Huntington National Bank -
The addendum you are requiring potential home buyers to sign before you will even look at their offer is, in my opinion, ludicrous and borders on criminal.
I’ve seen a lot of banks put a lot of asinine things in theiraddendums that makes me question whether you people have a lick ofsense, but you guys win the grand prize.
You all should be ashamed of yourselves and you should fire whoever wrote this load of bullshit you’re requiring people to sign.
Good luck with your attempts to fleece home buyers...

While this may seem a little bit odd - the truth is that many banksare wanting home buyers to sign all kinds of stuff or even worse -- getpre qualified with one of their lenders.

If you are having these kinds of problems, make sure that you knowthat they are not "normal" and be sure to work with your Realtor aboutwhat you can and cannot do.

And if your Realtor isn't exactly clear on what they can and cannotdo, then you may want to ask a local RE attorney, they will be moreclear.

Is Local Better?

Tue, 15 Sep 2009 11:02:02 GMT

What are you shopping for? Do you prefer to shop local when you are looking to buy something? Say you are shopping for a mortgage and live in Chandler, Arizona. Are you going to try to find a Chandler Arizona mortgage company or are you going to go with a national provider?

More and more, many people are trying hard to shop local and support local business. No matter what you are shopping for, people know that if they don't support local business, it will end up going away. So whether you are shopping for a new pair of shoes, local car insurance, grocery items or even your local hometown eatery - more people are encouraging you to shop local whenever possible.

What if you don't shop local?

Well, it isn't like you are going to get in trouble or anything. You may even save a few cents on an item that you wanted to purchase -- but in the end, if everyone decides that they don't care about their local businesses... well, expect many local establishments to just "not be around" and the face of America to change forever.

Debt Settlement: More Popular Than Ever

Sat, 29 Aug 2009 23:11:20 GMT

Americans have more credit card debt than ever - and it is no wonder that debt settlement has become a popular option for many people who are struggling with credit card debt.

Debt settlement is the process where an attorney essentially negotiates with your credit card companies to take less than you owe them in return for a fee. If you decide that you want to work with a debt settlement company, you will agree to deposit money into an escrow account each month and allow their settlement experts negotiate with your credit card companies who will hopefully settle for less than you owe.

Debt settlement has become popular because so many people owe so much -- and it is a much better option than filing bankruptcy usually.

If you are thinking about debt settlement or bankruptcy, be sure that you do your homework and know that you are dealing with a reputable debt settlement company - there would be nothing worse than learning you got screwed because the debt settlement company you chose was shady and didn't know what they were doing.

Things to do to keep safe

Sat, 29 Aug 2009 23:06:19 GMT

Once you have bought your house, it is then time to make sure that you make it safe. One of the best things that you can do to make your home safe is to make sure that you have one of the best home alarm systems installed from one of the nations top companies.

Installing a home alarm system is typically free and the company will usually give you the hardware needed and even install it in return for a maintenance contract.

Some of the biggest names in home security include brinks, adt, ge and APX. These are the big four players on the block for home security and when you think of home security systems and home alarm systems, chances are that you think of one of these.

Be safe! Make sure your home is protected with the best home alarm systems available.

You can't afford not to.

Credit Repair

Wed, 19 Aug 2009 13:39:54 GMT

Many people that have went through tough times have had problems with their credit and are now looking for credit repair options.

Are you looking for Arizona credit repair options?

Do you have a an account that has become wellpast due and turned over to a collection company? If so, how long hasthe account been closed?

The statute of limitationsin Arizona for writtencontracts is 6 years. The 6 year period begins when the account is ina delinquent status ( i.e. runs from date creditor could have suedaccount). Oral and stated agreements run for three years. Actionsinvolving fiduciary bonds, out of state instruments and foreignjudgments: 4 years. NOTE: Arizona applies its own statute oflimitations to foreign judgments rather than that of the state thatoriginally rendered the judgment whether the judgment is beingdomesticated under the Uniform Enforcement of Foreign Judgments Act orpursuant to a separate action on the foreign judgment.An Arizonajudgment must be renewed within five years of the date of thejudgment. Statute of limitations- what does it mean? It's the legallyprescribed time limit in which a claim must be filed. Thereby, if youralleged debt is beyond such statute of limitations time limit the debtis not owed. Under your right of due process you can challenge suchincorrect information, moreover, such negative credit information willbe removed.

If you have questions about your Arizona credit repair options be sure to shop around.

Arizona Jumbo Loans: Still Available?

Tue, 28 Jul 2009 13:28:51 GMT

Across Arizona, many aspects of the real estate market are heating up. For entry level homes, there are often multiple offers on homes. At the higher end, it is slower, but mostly due to financing problems. Are there jumbo loans available in Arizona? Yes, you can stillget jumbo financing, but the terms of today's jumbo loan market aremuch different than they were just a couple of years ago. Here aresome general guidelines for lenders who will actually lend under the Arizona jumbo mortgage programs available.

Arizona Jumbo Mortgage Loan LTV Requirements:

A few years ago, you could easily borrow up to 100% on almost anyjumbo loan, but today there are definately LTV restrictions and theyusually get tougher as the loan amounts get higher.

For loans up to $900,000 expect the loan to value ratio to be around 75%.
For loans up to $1,200,000 expect the loan to value ratio to be around 60%.
For loans up to $1,500,000 expect the loan to value ratio to be around 50%.

For more information about Arizona jumbo loans, be sure to speak with an Arizona loan officer who knows all about them.

Obama Refinance To Allow Up To 125% LTV

Wed, 01 Jul 2009 20:55:33 GMT

Arizona Obama Refinance To 125% Announced Today, it was announced by HUD Secretary Shaun Donovan that people who owed more than 105% of what their home was worth could now refinance up to 125% of the home's value. This means that people all over Arizona can now refinance their home even if they owe more than it is worth -- up to 125% of the home's value. This expansion to the Making Home Affordable plan will help many people right here in Arizona and is another sign that the Obama administration is doing whatever they can to contain the foreclosure problem. Both right here in Arizona as well as all over the US, there will now be thousands of people who currently owe more than 105% of their home's value take advantage of lower rates while they are available. Now, people all across Arizona will be rushing to refinance while rates are low. According to CNN: “The president’s Making Home Affordable plan is already helping far more than any previous foreclosure initiative and with today’s announcement we will extend its reach still further,” said Donovan. News reports in Bloomberg said: “I don’t think it’s going to have much of an impact because you still don’t have enough qualified borrowers,” Miller said, referring to today’s announcement. “It will help on the margin, but the issues with Obama’s plans is that they all focus on affordability and not principal writedowns and at some point they’re going to have to address” that, he said.What This Means For Homeowners In Arizona It is somewhat unclear exactly how much of an impact this expansion will have across the nation - but here in Arizona and in many other states — many, many people owe more than 105% of their home’s value, and this expansion will help. For the most up to date information on the new Obama refinance expansion announcement, be sure to contact a Arizona mortgage expert today!

Should you pay an upfront cost for loan modification?

Tue, 28 Apr 2009 14:14:37 GMT

Many people are wondering if it is possible when getting an Arizona loan modification done to not pay an up-front fee.

It is if you know where to look!

When shopping for someone to help you with your loan modification, be sure to get a full disclosure for all of the fees that you will pay -- and be sure that you are aware of what you are going to be paying for.

The worst thing you can do is to pay for something that wasn't good -- but almost as bad is paying for something that is good that you didn't need to pay for -- UP FRONT.

So be sure to shop around and make sure that you are getting the best deal on your loan modification -- no matter what state you are living in.

What Happens If You Have Too Much Credit Card Debt?

Sat, 18 Apr 2009 14:50:23 GMT

At what point do you throw up your arms and just say "I need credit card debt relief"? What happens if you have too much credit card debt and not enough money to pay your minimum payments anymore?

You may want to look into something called debt settlement - it is the process of hiring a lawyer to negotiate on your behalf with the credit card companies to pay less than you owe.

Debt Settlement - What Is That?

Debt settlement (aka debt arbitration or debt negotiation) is an idealsolution for people with more than $8,000 in debt. For individuals whoare looking for credit card debt relief, debt settlement is anaggressive approach with aggressive results. We are experts atnegotiating with your creditors on your behalf to get your debt down toa manageable level.

Benefits of Debt Settlement

Reduce total payments by up to 40%*
One easy monthly payment
Manage calls by debt collectors
Debt free in as little time as 12-60 months
Reduce or even eliminate charges such as interest or late charges

Debts You Can Settle

Department store credit cards
Medical related bill
Overdue rent payments
Gym memberships
Most types of unsecured loans
Credit card debt
Gas credit cards
Past due utility bills

What You Cannot Settle

Home mortgage loan
Income tax debts
Secured loans
Car loans
Student loans that are Federally secured
Government loans

Some Advantages of the Debt Settlement Process

Here are just a few of the advantages of debt settlement: You will savea significant amount of money both short and long term. Because wedon't report to the credit agencies, your accounts will show paid infull. These are some of the primary reasons that people are choosingdebt settlement as an option when looking for credit card debt relief.