How to Find the Best Utah Mortgage Lender [mortgagerefinance-101.blogspot.com]

How to Find the Best Utah Mortgage Lender [mortgagerefinance-101.blogspot.com]

Altius Mortgage Group is a mortgage Broker that offers competitive mortgage loans to consumers. 801-747-9176 www.wedohomeloansforyou.com Mortgage Lending Specialist, Experience Matters, NMLS # 285653

mortgagerefinance-101.blogspot.com Utah Mortgage Loans | Altius Mortgage Group | 801-747-9176

(Source: FBI) â€" CHARLESTON, WVâ€"U.S. Attorney Booth Goodwin announced today that a Utah man pleaded guilty in federal court for his involvement in a multi-million-dollar mortgage fraud scheme linked to properties at a Putnam County, West Virginia. UT Man Charged in Multi-Million-Dollar Mortgage Fraud Scheme

Finding the best Utah mortgage lender is the most important part of the home buying process. You  might find the perfect house with the perfect price, your real estate agent might get you the perfect contract, but if your loan officer can't get your loan closed, the perfect house will go to someone else. If you are serious about buying a house, then don't trust the first person that comes along with a mortgage license.

What can you do to make garuntee that your loan gets approved, you close ontime AND you get the best loan?

Use these important steps to ensure that you get the best scenario for your purchase.

1. Find your lender well before you find your house. Most buyers pick a lender after they make an offer on a home. This isn't a wise choice, because you are then forced to quickly pick someone, usually without shopping around for the best mortgage lender.

Remember, once you have an offer in on a house and it gets accepted, its really hard to change lenders since you'll be under a tight closing time frame.

2. Make a list of questions to ask each potential lender and take note on how they respond. You are looking for the type of person that will keep you informed in layman terms that you understand. The last thing that you want is to misunderstand something that can delay or ruin you chances of closing ontime.

3. Make sure that your potential lender gives you several loan options and explains the differnce between all of them. Remember, you are the one that should make the final choice as to the type of loan you want.

4. Ask for at least 3 satisfied past clients that have closed a loan with the mortgage lender within the last 30 days. This serves a dual purpose. First of all, you can talk to other buyers and get a good idea of the type of loan officer this person is and second you'll make sure that you are hiring soemone that has current experience. Experience is important because the more you do something the better you get at it. And you want experience closing your loan.

In summary, if you do your homework, it will be worth it. Getting a good Utah mortgage lender is the first step in owning a great home in Salt lake City! Suggest How to Find the Best Utah Mortgage Lender Issues

Question by mrmikl: How many monthly payments do you have to miss before the mortgage lender attempts to Foreclose on a home? The answer that was given was either misleading, uninformed or confused. The Mortgage Industury, which supports flipping of houses, has changed the law on the Federal level where they can take your home with one missed payment. I do not who this 'expert' is. I lived through it with National City Bank. I missed one (singular payment. Although their 'Loss Mitigation Dept' try to work with me, the repayment to get back on track was $ 1,000, next month $ 4000 and the next $ 9,000. In the meantime they hired a foreclosure attorney which sent me threatening letters, but years end, the so-called amount to right the loan was $ 64 thousand dollars. You see, in West Jordan Utah, house prices skyrocketed from $ 130K to $ 350K. National City bought the home back from themselves for $ 108K. I had short sale offers as high as $ 122K. Instead I filed bankruptcy to stop the foreclosure on automatic stay. The Fed Bankruptcy Court let the house go in May 2004 to the NCM, profteering. Best answer for How many monthly payments do you have to miss before the mortgage lender attempts to Foreclose on a home?:

Answer by bostonianinmo
There's been no "change of law at the federal level" regarding foreclosures. A foreclosure is a local issue subject strictly to state laws. Generally they can start the process after one missed payment though most will wait for 2 or 3 at least.

Answer by R3D3
Legally a lender can start foreclosure 1 DAY after a payment is missed. Most wait until 2 or 3 payments are missed but they are not required to.

Answer by Rick
Oh the banks want your home bad even if it sits empty for years they don't care as long as your not in it. I went thought this years ago and that is what they told me. Best not to even talk to them as you will end up with a break down. Just do your best with the payments and if you see your getting to far behind, leave and find some place cheaper. The bank will sit you out on the street and not blink an eye. They don't care these days or any days for that matter.

Answer by Gene and Allum
Foreclosure proceedings will begin normally when you miss the 4th payment. It depends on the state you live in. However, if you read the mortgage and/or the mortgage NOTE, it states that the lender has the right to take make you pay the full delinquent amount.

[utah mortgage lenders]

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Best Fixed Rate Mortgages [mortgagerefinance-101.blogspot.com]

Best Fixed Rate Mortgages [mortgagerefinance-101.blogspot.com]

mmibrokers.com fixed rate mortgage is becoming increasingly popular in the last year as people become more aware of mortgage rates UK they are looking to secure the best mortgage rates UK that they can find. The easiest way to do this is to contact a mortgage broker mortgage, brokers are...

mortgagerefinance-101.blogspot.com Best fixed rate mortgage | mmibrokers.com

You are interested in buying a home but only want a fixed rate program and not an adjustable rate one. That is a wise decision. So what is the best fixed rate mortgage?

That's a good question don't you agree?  If you are planning on buying a home anytime soon, you need to know the answer to that question.

As you may know, lenders offer a large variety of loan options.  So how does a first time home buyer know which loan is the best for him/her?

In this article we will discuss what has been the favorite fixed rate home loan for many people for decades.  You will discover the advantage of a fixed rate mortgage and how it can benefit you.  By your coming to understand this, you can then make an informed decision when it comes time for you to apply for a loan.

Since I'm sure you're a busy person, I'll just get down to the brass tax here.

I'm sure you heard of the FHA home loan right?  Well in a nutshell, that is the best fixed rate mortgage for the first time home buyer.  Let me tell you why that is so.  Then you will see where I'm coming from.

Just before the recent home loan meltdown, first time home buyers had way too many options for a loan.  There were adjustable rate loans, fixed rates, 1st and 2nd loan combos etc.  It was actually getting to be a very crazy time.  The big lenders really did not care about you as the borrower.  All they wanted were completed loan packages they could bundle up and sell to investors.

It had become a standing joke that if you could fog a mirror, you could get a home loan.  No document loans if your credit score was above 600.  Sometimes even lower scores were allowed to get financing without verifying income.

These loans came to be called liars loans.  Home buyers with the help of the money hungry loan officers were just flat out lying on the loan applications stating enough income so they could qualify for the loan.  All of this based solely on a decent credit score of the buyer.

99% of the time these loans were adjustable rate mortgages that were based on the 3 month or 6 month Libor Index.  So every 6 months the mortgage would adjust after the initial 2 or 3 year period.  By the time they were getting ready to adjust, these loans were sold off and the original lender was on to the next sweetheart deal.

The person who was left in the cold was the investor, then the home owner.  When these loans started to adjust, people could not afford their payment increasing so they lost their homes.

So if you really want to sleep good at night, look for the old standby loan product that has stood the test of time.  Since 1934 the FHA Home Loan has been the best fixed rate loan out there.  It still is even though they have tightened their requirements to qualify.

This loan product has a fixed interest rate so you know what your principal and interest payment will be 30 years from now.  Yes you have to escrow taxes and insurance which will vary some over the years, but you will not see the huge adjustments that many had that got caught in this crisis.

So then my dear reader, ask for the FHA 203B loan when applying for your home loan.  You will find this is fairly easy to qualify for and has a low down payment.  It was designed by HUD for the first time home buyer.  If you cannot find a loan officer that understand them, keep shopping until you do.  That way you can be sure you have the best fixed rate mortgage available. More Best Fixed Rate Mortgages Issues

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How to Get a Home Loan [mortgagerefinance-101.blogspot.com]

How to Get a Home Loan [mortgagerefinance-101.blogspot.com]

Mark Zuckerberg just refinanced his Palo Alto home with a 30-year, 1.05 percent adjustable mortgage rate. Why do billionaires like Zuckerberg take out home loans, when they could easily buy their properties outright? Zuckerberg's 1 percent mortgage: Why does a billionaire need a loan?

Learn how to get approved for a home loan when buying a house in this free online guide to buying a home.Expert: Dan Kelley Contact: kelleywhiteteam.yourkwagent.com Bio: Direct from HGTV, Dan Kelley has been selling real estate in the Miami area for many years. Filmmaker: Paul Muller

mortgagerefinance-101.blogspot.com How to Buy a House : House Loan Approval Tips

Do you want to buy a house? Worried about how to get a loan? This article will help you get your finance. With your home loan sorted, just find that house and join the mortgage belt! Banks make money by lending to you at a higher rate than they paid for the money. This means they want to lend you money!

There is one problem though: Their money making strategy only works if you pay the money back. If you don't pay it back, the bank loses money, so.. Most of the loan application process involves the bank satisfying itself you can, and will, pay them back. Sometimes it seems complicated, but in essence the banks just look at the three 'c's of credit.

Once you understand what this means, you just have to structure your affairs to make sure you will be 'bankable' and have your mortgage approved.

The three 'C's:

C is for Character: In banker speak, this means: Is your credit history good? Usually if you have not defaulted on any loans or payment obligations to anyone, your credit will probably be fine. If you are not sure, obtain a copy of your credit report. This is easy to do in most countries and sometimes costs a small fee. If you have an unpaid account on the report, pay it. Keep the receipt. Work out what happened and write an explanation. Send a copy of the receipt to the credit report agency and tell them to show the debt as paid. C is for Capacity: In banker speak this means: Can you afford the repayments? If your net income is more than all your outgoings (including the new loan payment) this is a good start. Banks also use other tools including debt to income ratios. This means that your loan payments (including housing) shouldn't be more than roughly 1/3 of your income. If you can't quite afford a loan on paper and your debt/income ratio is too high, can you: Extend the term of a car loan? Sell something and pay a loan off? Close some credit cards (or even reduce the limits)? All these steps will help. Even if you want to (and can afford to) pay off auto loans faster, take longer terms and make the extra payments voluntarily -ensure no early payment fees apply. This can help your ratio as banks work on the contracted payments, not what you actually pay. C is for Collateral: In banker speak this means your mortgage. What can the bank sell to ensure it's loan is repaid? The factors here are the valuation (appraisal) of the home, and the amount of your deposit. Banks love 20% down. If you can't come up with 20% often you can use a smaller deposit but need to pay a mortgage insurance fee to insure the bank. (Don't confuse this with mortgage repayment insurance where an insurance company pays your loan payment if you are sick or incapacitated).

The valuation is important because sometimes the asking price is higher than the market price. Do your homework first. It's frustrating to pay for a valuation and then find you can't buy that house because it is priced higher than the valuer believes it is worth.

How much deposit do you need? Well even if you have some money gifted to you, you should have saved 5% yourself.

So, the rules are: Keep your debt repayments under 1/3 of your income (including the new loan). Make sure you can afford it (all expenses, including the new loan, add up to less than your net income), and: Save at least 5% deposit and scrape up the balance deposit your bank wants by selling something, gift from parents (not borrowing) and fix up any unpaid accounts.

All these steps will give you a terrific chance of getting that home loan.

Suggest How to Get a Home Loan Articles

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Thefreecar Program-Thefreecar Finder [mortgagerefinance-101.blogspot.com]

Thefreecar Program-Thefreecar Finder [mortgagerefinance-101.blogspot.com]

A group representing U.K. mortgage providers said the scandal surrounding the Libor interbank offered rate won't hurt homeowners. Mortgage Lender Group Says Libor Woes Won't Hurt U.K. Homeowners

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Related Thefreecar Program-Thefreecar Finder Topics

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How to Choose a Mortgage Lender? [mortgagerefinance-101.blogspot.com]

How to Choose a Mortgage Lender? [mortgagerefinance-101.blogspot.com]

Introduction to mortgage loans

mortgagerefinance-101.blogspot.com Introduction to Mortgage Loans

Source: Maura Mcdermott Newsday, Melville, N.Y. (MCT) -- Fewer homeowners than expected turned out Thursday for a Bank of America event aimed at helping people. Small Turnout for BofA Mortgage Event

With the attacks of several financial downturns and debts we became extra careful about every single financial decision and thus even in case of selecting a debt settlement company we have practiced caution. The recent turbulences in the investment and money market along with numerous scams have compelled us to be extra cautious about every action we take and hence we should keep certain criteria in mind before choosing a mortgage lender. However, if you are trying to find a lender in a hurry, chances are always good that you might end up messing up and picking the wrong type of lender.

Ø The first thing one should find out about a mortgage lender is his history and reputation which plays an important role in building your positive opinion and initiating your selection process of a particular lender.

You must count the lender’s total period of work experience and expertise in dealing with tricky market conditions and complex situations. Their experience and efficiency can be most operative in getting you the right deal or business. Apart from a strong history and past work experience and longevity, a mortgage lender should possess a clean market reputation which has ensured that that they have proved good and successful in what they did in past and in recent times.

Ø Know and listen to what people or his old clients tell about that lender.

Also pay heed to what the local people say about his disposition and social behavior. Do some listening to your friends and family members who have gone with a certain lender and make sure that you are hearing good things before you go with the same lender. Another thing to make sure is the efficiency and dependability of the sources wherefrom you are gathering information about the mortgage lender. Thus it is best to consult your nearby state mortgage office and look out for their suggestions as well. Remember that nowadays everyone wants to make easy and quick money and in a quest don’t hesitate to take the illegal ways.

Ø Always prefer a friendly and accommodating mortgage lender who gives out positive and benevolent vibes of wisdom, knowledge and experience. This is very important because you might have various situations that you need a lender to focus on, and they should be willing to work with you. Be sure that they are friendly and that they make you feel good when you meet with them. Also, be sure that they are willing to work with you and with any problems that you might have. They should show virtues like patience, tolerance and optimism while dealing with your case and should be willing to provide help anytime of the day during an emergency.

Apart from these qualities you should always go for a mortgage lender who has a variety of loans in offer to you according to your situations and options that would suit your finance and credit both, which a typical lender cannot provide.

Suggest How to Choose a Mortgage Lender? Articles

Question by marg3030: how much should lenders charge for closing costs, I live in Maine and an looking for a small mortgage? Best answer for how much should lenders charge for closing costs, I live in Maine and an looking for a small mortgage?:

Answer by Othniel
Your lender should give you a good faith estimate. If the lender does not give this to you then find another reputable lender.

[small mortgage lenders]

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Mortgages In Colorado Springs, Co - Why Use A Mortgage Broker [mortgagerefinance-101.blogspot.com]

Mortgages In Colorado Springs, Co - Why Use A Mortgage Broker [mortgagerefinance-101.blogspot.com]

Colorado Springs Mortgage Lender Melanie Henn and her team. Specializing in VA, FHA, Conventional, Refinance, & Streamline loans. Over 19 years Lending experience and prior military service. Call us FIRST! (719) 499-8061 or (719) 434-8394 7680 Goddard St. Ste. 201, Colorado Springs, CO 80920

mortgagerefinance-101.blogspot.com Colorado Springs #1 Mortgage Lender Melanie Henn

Are you planning to get a mortgage loan in Colorado Springs, CO? Did you consider using services of mortgage brokers? Are you skeptical on what mortgage brokers in Colorado Springs, CO can do for you? If yes, you need to know the crucial benefits offered by mortgage brokers.

When it comes to getting a mortgage loan, many people hesitate to use services of a mortgage broker. With the experience, skills and the resources that mortgage brokers in Colorado Springs, CO have, they can help you get the best possible mortgage packages.

Top 4 reasons to use mortgage brokers in Colorado Springs, CO

Below mentioned are some reasons on why you should opt for mortgage brokers.

Experience - With the experience that professional mortgage brokers have, they can give you the best available mortgage rates. Instead of recommending credit unions and large banks, mortgage brokers put you with small lenders of whom you have never heard about. As these lenders are concerned about their business, they will provide the best possible rates to mortgage brokers. Thus, even you get the best mortgage rates.

Convenience - Many people have hectic working schedules. If this is the same in your case, a mortgage broker will work around to make the transaction convenient for you.

Credit Ratings - Not many people realize the fact that applying for mortgage loans to different banks can decrease their credit ratings. Every time the lender requests your information, your credit ratings get declined. However, using services of a broker, only one inquiry will be made, thus causing one decrease in your credit ratings.

Get The Best Deal - Mortgage brokers have a huge list of lending institutions clamoring for business. When you apply for mortgage loans to different banks, you are forced to agree upon the terms of a bank. On the other hand, a mortgage broker will move from lender to lender until he/she finds the best mortgage for you. Find More Mortgages In Colorado Springs, Co - Why Use A Mortgage Broker Issues

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How To Get 2nd Mortgage Rates [mortgagerefinance-101.blogspot.com]

How To Get 2nd Mortgage Rates [mortgagerefinance-101.blogspot.com]

www.notapennydown.com How to make a 14% return on your money. What is 2nd mortgage investing and why should I care with Vancouver mortgage broker Mark Fidgett.

mortgagerefinance-101.blogspot.com Make 14% with 2nd mortgage investing, Vancouver mortgage broker Mark Fidgett

Sometimes you have to for the second Go to mortgage loan in that you are on the same grounds that you have previously pledged. So in this case, you have a check in the second Have mortgage interest rates for new loans. This process is indeed necessary to mortgage the property again and take the right decision for him.

The following are some important tips for the 2nd Mortgage rates have   Obtain quotes from loan companies   Find out the mortgage banks, make search on web and then start applying for the mortgage. You can set up a few forms with respect to the second mortgage and you can expect the information to sulk on their record in tour-mail box. You have to approach many companies see the prices, as this will save you a good amount of money.   Take help from a mortgage bank   Many people prefer to contact a lender or mortgage broker for good instead of contacting a company. This process can save you time and is advantageous because the broker to have a complete understanding of which company is borrowing money. The mortgage broker may request a bridge between the bank and the loan buyer, when he borrowed money to send the banks and by banks, he responds to you with offers for the mortgage.   Do not forget, all factors of the second Compare mortgage rates   You must have heard about a comparison of mortgage rates, but that's not enough, you should also compare, service charges and are the long-term impact of the loan. Itit may happen that the interest rate of the loan may be less but when you combine it with the service charges you can see that the total payment is much higher than you should be expected.   Try to improve credit rating   It's a proven fact that if your credit rating is good sense, then can get more benefits with retention of the second Mortgage interest rates. You have to see where you stand financially now, and it can be determined by knowing the current credit score. Contact a credit reporting firm, that will tell you your credit score and also suggestions on how to improve them if necessary.   Recommend How To Get 2nd Mortgage Rates Issues

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