http://www.realestatewebmasters.com Mortgage information is often part and parcel with Real Estate Information Questions about mortgages, financing etc this is the forum for all mortgage related discussion. en Sun, 22 Nov 2009 09:13:28 GMT vBulletin 60 http://www.realestatewebmasters.com/images/new/misc/rss.jpg http://www.realestatewebmasters.com http://www.realestatewebmasters.com/showthread.php?t=39244&goto=newpost Wed, 18 Nov 2009 14:28:00 GMT I was reading the WSJ this morning and came across http://online.wsj.com/article/SB125808220215546649.html article. The headline looks promising, cause mortgage rates are at a 5 week low and still below 5% for a 30 year fixed. However, if you keep reading beyond the headlines new mortgage apps are... I was reading the WSJ this morning and came across http://online.wsj.com/article/SB125808220215546649.html article. The headline looks promising, cause mortgage rates are at a 5 week low and still below 5% for a 30 year fixed. However, if you keep reading beyond the headlines new mortgage apps are down to a nine year low. That does not bode well for us in the industry. ]]> Mortgage Information naplesrealestate http://www.realestatewebmasters.com/showthread.php?t=39244 http://www.realestatewebmasters.com/showthread.php?t=39063&goto=newpost Tue, 10 Nov 2009 09:27:16 GMT Before going to construct a new dream *home* we should have sufficient place in side as well as outside the home. We want a well designed structure about our home. First find a suitable place for the home. We must have a well idea about inner and outer part of the home. We have a correct view about... Before going to construct a new dream home we should have sufficient place in side as well as outside the home. We want a well designed structure about our home. First find a suitable place for the home. We must have a well idea about inner and outer part of the home. We have a correct view about how many bed rooms and bath rooms, roof structure, furniture, garden, paint, light arrangement, showcase, wall pictures etc.

A home should have good water arrangement. Balcony is an important place. Great entrance gives good appearance from the outside.

We provide dream homes with many facilities.

• The flooring from the entrance to the dream home are covered by anti-skin tiles
• Well designed garden and children’s play area
• The ceiling is decorated with high quality tiles
• Rooms have sufficient space to occupy the furnisher
• Flooring is finished with beautifully tiles
• The walls should be sound proofed
• Attached bathroom for the master bedroom
• The internet, TV and telephone connections are in master bedroom
• Well furnished kitchen with store room
• We providing 3phase as well as single phase connection

]]> Mortgage Information kevinsam http://www.realestatewebmasters.com/showthread.php?t=39063 http://www.realestatewebmasters.com/showthread.php?t=38989&goto=newpost Fri, 06 Nov 2009 01:10:40 GMT This is a second question to my original question of “*How do I locate a reputable Hard Money lender*?” Since I am self employed and my travel business has taken a huge hit during the last 2 years (in the Los Angeles, California area), I now want to go back to school for about 1 year and start a... This is a second question to my original question of “How do I locate a reputable Hard Money lender?”

Since I am self employed and my travel business has taken a huge hit during the last 2 years (in the Los Angeles, California area), I now want to go back to school for about 1 year and start a new & different career. Yet from looking at some of the “hard money” lender online loan applications, I see that they want to know how I will pay back my loan. Yet I am rather stumped on how to best answer this question, because if all goes well, I hope to have a steady income again in the next 2 to 2 ˝ years (I figure), yet I figure with my current savings and a hard money loan, I will be financially okay for the next 3 years at least. Yet how would I best answer this question?

Also, are “hard money” loans easy to get, as long as I have at least 150K of available non-mortgage equity in my house (based on the current market value of my house (in my case), even with my existing mortgage)? Do I have to provide previous income documentation, since my income has bit the dust the past 2 years? In my case, my credit is good (a FICO score of 733), and I do not have any lates or past due accounts on my credit report. Would I be able to still get a hard money loan as a “no doc” or “stated income” in todays financial climate? Based on so much I have read, it seems that hard money lenders just want to know that there is enough equity in the property in order to consider the loan, yet they do not care about past credit or income. Is this “still” true today?

What are the typical terms for Hard Money loans (i.e. 1 to 3 years or 5 years or 15 years or 30 years)?

Are Hard Money loans typically interest only with one final balloon payment (where I would have to pay back the entire principle) at the end?

Since the hard money loan would be a second mortgage (I guess), is there anything I could do to jeopardize my house, by signing a contact with a hard money lender? As I often see so many times in the local news of people somehow inadvertently signing away their homes to so many shady companies out there. Yet I figure since I have a solid 1st mortgage, I am guessing that there is almost absolutely no way I could accidentally sign away my home, since my bank (who holds the 1st mortgage) would make it almost impossible for me to sign my house away to anyone (even if I wanted to) without the 1st mortgage being 100% fully paid off?

Can someone here help and advise me? Thank you.

Wilson ]]> Mortgage Information WestCoastWilson http://www.realestatewebmasters.com/showthread.php?t=38989 http://www.realestatewebmasters.com/showthread.php?t=38988&goto=newpost Fri, 06 Nov 2009 01:07:49 GMT I came across this forum a few minutes ago, and decided to get some help to my problems. I have looked up hundreds of “hard money” lenders in California statewide and in Los Angeles California, however none of them seem to have a Better Business Bureau report. So I have no way of knowing if... I came across this forum a few minutes ago, and decided to get some help to my problems.

I have looked up hundreds of “hard money” lenders in California statewide and in Los Angeles California, however none of them seem to have a Better Business Bureau report. So I have no way of knowing if these companies are legit or shady or are a fly by night company. How do I locate a good and reputable Hard Money lender company in todays market . . . Especially with todays changes with consumer loans and credit . . . With special regards to how things have changed since the subprime mess over the past two years.

In my case, I want to pay off about 100K in revolving credit debt, since my interest rates have all been raised to between 20% to 29.99% over the past several months. I am self employed, and my travel business has taken a catastrophic hit due to the economy over the past 2 years. I currently have a mortgage that I am current with, yet with the subprime fiasco and revolving credit interest rates steadily going up, I can no longer keep up, yet I do not want to file for bankruptcy or do one of those debt reduction plans (since one of those plans will crucify my credit report as bad as a bankruptcy will) since my credit is good (a FICO score of 733), and I figure I have over 150K in non-mortgage equity currently in my house.

Yesterday, I talked with my previous lender (who later sold my mortgage to another company), and he said that a hard money loan would be good in my case (to try to pay off all/most of my revolving credit). Even the many changes in the financial lending industry over the past 2 years, my previous lender felt confident that there is at least a few reputable hard money lending companies out there that can help me in my case (self employed, spotty and very low income due to the economic changes, yet having my approximate 150K of equity in my house, etc.), yet he said that I would end up paying somewhere between 12% to 18% on such a hard money loan and that I may be able to secure a loan of only $75,000.

Can someone here help and advise me? Thank you.

Wilson ]]> Mortgage Information WestCoastWilson http://www.realestatewebmasters.com/showthread.php?t=38988