Options for avoiding foreclosure

Once you are facing foreclosure there are a few options that could help you stop the inevitable.

Borrowers placed in loans for higher commissions

"As the mortgage boom slowed in 2005 many brokers scrambled to fill their pipelines as the rate of new applications fell. Many of these brokers were putting borrowers that could qualify for prime rate products into a subprime category for the higher yield spread premium paid...

Lenders now closing warehouse lines for brokers

Many mortgage brokers have had the ability to secure lines of credit with major lenders to fund loans faster and increase their profit margin. They commit to a specific volume of business and are responsible for the qualifying criteria of that loan. The broker is...

Rates rise as bonds fall

Today the jobs report came in much stronger than expected fueling fears of inflation and sending the bonds lower. This pushed yields higher which of course has affected interest rates for mortgages negatively. They are sharply higher this morning and are expected to increase...

How can I get a loan with a credit score under 500?

Traditional lending sources will limit their programs to those with a score above 500. Many borrowers have scores that are near or below this level. What can you do if your score goes below 500?

Homeowners targeted by fraudulent advertisements

The California Association of Mortgage Brokers (CAMB) has issued a warning to homeowners to beware of advertisements claiming they can relieve you of your high payments and can qualify you for a 1% interest rate even with bad credit. This is simply not true.

Internet mortgage lead whores are out of hand

"It seems you can’t go to an internet site that doesn’t have some sort of banner prompting you to click to find out what rate you can get. They will use bait and switch tactics from advertising rates that are not available unless you pay ridiculous fees to hiding...

Criminal investigations for sub prime lenders imminent

Today New Century Mortgage announced it is filing for chapter 11 bankruptcy which is no surprise given recent trends. Since January of this year they were cut off by major lenders and have now announced criminal probes into it’s practices.

Good advice to protect against identity theft

With the increase in identity theft I thought it would be helpful to post some valuable tips for protecting yourself against it. Here are some steps you should take immediately to lower your chances of being a victim.

Opportunities exist is current real estate market

As the summer draws near there are more buyers coming out to look for homes. The inventory levels are still at a very high level and this means there are plenty of opportunities to find the right home for you.

Prepare your loan application for the underwriter

When applying for a home loan it is important to prepare your file for what an underwriter will look at. Many borrowers are not aware of what they look for and how they think.It is simple really. Contrary to what many borrowers think, an underwriter’s job is to find a...

Using pledged assets as a down payment

As the lending industry tightens the belt on requirements there are options that borrowers may want to consider to help them qualify for a home loan. One option is using pledged assets in lieu of a down payment.

Real estate strategies for 2007

As the winter draws to it’s end and people come out of their homes the real estate market begins to show life. It is a cyclical event. For those who are interested in buying a home to live in there are a few strategies that may help you during this buying season.

10 fastest growing counties in America

"The U.S. Census Bureau released a report on the fastest growing counties in America. Some of these may surprise you."