Posted by admin on Jan 21, 2011 in
Finance You and your spouse hold steady jobs and you have both had those jobs for over two years. You don’t have a house to sell to move into a new house, you have perfect credit and a down payment to boot! So nothing should be holding you back on buying your dream home should it? Real estate broker’s hands are tied in today’s market. They are struggling to get even the “textbook” buyer a home loan.
Today’s unique real estate market situation calls for a unique solution. A solution that protects both the buyer and the seller. The seller gets the full asking price for the property. In exchange, the seller retains the mortgage for a period of time. The buyer assumes the payments (mortgage, taxes and insurance) when moving into the property. Further, the buyer assumes maintenance of the property. Both the buyer and the seller become part of a holding company, called the trust. This becomes a business arrangement, which requires the buyer to perform fully and properly. At the conclusion of a specified time, the buyer then obtains a conventional mortgage on the property they have been living in during the specified time, at the price agreed-upon, when the trust was created.
This provides the buyer a “track record” towards qualifying for a mortgage. The seller knows they are getting their asking price, and is relieved of the burden of the expenses associated with property, now.
There are other advantages to both the buyer and the seller for utilizing this time-limited trust arrangement. The key point for the buyer and seller is they can move NOW, and each party’s interests are protected. While the trust does have finite time duration, it does provide some “breathing room” and certainty to both partners in these difficult times. Read more...
Tags: Buyers, Can't, Even, Finance, Home, Loan, Owner, Qualified
Posted by admin on Jan 18, 2011 in
Loans The Federal Housing Administration (FHA) runs several FHA Bad Credit mortgage programs to promote home ownership in Florida. In most cases, Bad Credit FHA home loans are mortgages obtained with the help of the FHA. With a small down payment today only 3.5%, Florida Bad Credit homebuyers   buyers can purchase a home. FHA loans make it easier for Florida  Bad Credit homebuyers  to qualify for a Florida Bad Credit mortgage,
 Minimal Down Payment and Closing Costs.
Down payment less than 3.5% of Sales Price 100% Financing options available No reserves or required. FHA regulated closing costs. Seller can credit up to 6% of sales price towards buyers costs.
 Easier Credit Qualifying Guidelines such as:
No minimum FICO score or credit score requirements. FHA will allow a home purchase 2 years after a Bankruptcy. FHA will allow a home purchase  3 years after a Foreclosure.Â
Easier Debt Ratio & Job Requirement Guidelines such as:
Higher Debt Ratio’s than other home loan programs. Less than two years on the job is allowed. Self-Employed individuals o.k.
Apply today at www.FHAmortgagePrograms.com
www.FHAmortgageFHAloan.com
Bad Credit home loans In Florida
Getting a Florida bad creidt Mortgage with isn’t as easy as it was a year or two ago. However, it isn’t as impossible as some news reports make it seem. Even Bad Credit  Floridians with bad credit reports which reveal past financial sins still sometimes get to the promised land of mortgage approval. Most Florida Bad Credit mortgage applicants and Refinance clients do so with the help of a skilled and experienced Florida mortgage lender who specializes in Florida FHA bad credit home mortgages to Refinance or Purchase a Florida home
Read more... Tags: Credit, FICO, Florida, Home, Loan, Mortgage
Posted by admin on Jan 16, 2011 in
Credit Tips These days, many lenders understand that irresponsibility is not the only reason why people become bankrupt. High cost of living, education, healthcare, and homeownership; as well as some other uncontrollable things which happen in life such as job loss, divorce or sickness means that bankruptcy can happen to anyone, even to those who are financially prudent. As a result, many lenders are willing to take a chance with high-risk borrowers by offering credit, loans and mortgages to people who have experienced a bankruptcy.
Life after bankruptcy is about starting over and working hard to create a better credit record. When someone who was once declared bankrupt is applying for a mortgage, the lenders scrutinize how they have handled their finances in the past one to two years.
So, what are the key tips for getting your life and financial situation back on track after bankruptcy?
1. Spend your money wisely; make an effort to have a budget so that you know your incoming and outgoing money to cover your bills, loans and expenses.
2. Try to save some money in your savings account on a regular basis.
3. Get a copy of your credit report and ensure that it is accurate. If you have recently paid off all of your creditors, your credit report states this.
The main actions which will show the potential lenders that you are working towards your financial recovery are establishing a solid record with new accounts, re-establishing old accounts, regular contributions to a savings plan, and payroll deductions that go into your children’s college fund, among others. If your recent financial activities are good, this tends to offset the old payments and collections you had in the past, which works in your favor because it shows your progress towards financial recovery. Read more...
Tags: After, Bankruptcy, Credit, Dream, Home, Mortgage, Tips
Posted by admin on Jan 15, 2011 in
Loans  Florida FHA manufactured home loans, Florida Mobile home loans
Florida Mobile home loan financing, up to 97% w 580 FICO
Florida mobile or Florida manufactured home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase Florida home ownership. For the Florida home buyer the FHA program can simplify the purchase of a home, making financing easier and less expensive than a conventional mortgage loan product. Some highlights of the Florida FHA loan program include:
For Florida mobile or Florida manufactured home buyers FHA guarantees “eligible” Florida loan applicants the ability to obtain Florida mortgages on manufactured homes with No money or Little money down .FHA loans feature low down payments and flexible guidelines to make it easier to for Florida homebuyers to qualify! FHA loans are popular with Florida first time home buyers but they can be equally attractive to Florida move-up buyers and Florida homeowners looking for a home improvement loan. With an FHA loan you can borrow up to 97% of the purchase price of the Florida home. Please keep in mind that the FHA home loan will be based on the homes purchase price or the appraised value.
Minimal Down Payment and Closing costs.
Down payment less than 3% of Sales Price Gifts are allowed Seller can credit up to 6% of sales price towards closing and prepaid costs. 100% Financing available No reserves required. FHA regulated closing costs.
Easier Credit Qualifying Guidelines such as:
 No minimum FICO score or credit score requirements. FHA will allow a home purchase 1 year after a Bankruptcy. FHA will allow a home purchase2 years after a Foreclosure.
Apply Today for an FHA Home loan at
http://www.fhamortgagefhaloan.com/
 Florida FHA mobile home loans
Read more... Tags: FICO, Financing, Florida, Home, Loan, Mobile
Posted by admin on Jan 14, 2011 in
Loans The FHA home loan Process Four easy steps to your FHA loan!
1. Applying for an FHA home loan.
Applying for an FHA home loan through FHAmortgageFHAloan.com is simpler than ever before. We have combined the speed and ease of the Internet with the hands on approach that our FHA home loan applicants have come to expect. Once you apply online for an FHA home loan, you are entered into our database where your FHA home loan is processed. Within 24 hours, your assigned FHA home loan officer will contact you, via e-mail or phone, to schedule your interview.
2. The FHA home loan Interview
During your FHA home loan interview your FHA home loan officer will go through your FHA home loan application to determine your eligibility. If you are unable to be pre-qualified at the time of application, your FHA home loan officer will offer you advice on how to improve your credit situation so that you may become eligible within weeks time. Within 20 minutes you will know the determination of your FHA home loan application! The FHA home loan telephone interview also serves as an excellent opportunity to get acquainted with your FHA home loan officer. Your FHA home loan officer plays an important role throughout the FHA home loan process. Good communication with your FHA home loan officer will increase your chances of FHA home loan pre-approval and speed the processing of your FHA home loan!
3. FHA FHA home loan Processing
The processing of an FHA home loan involves the gathering of documents to verify all information inputted in your FHA home loan application. This includes, but is not limited to; W2’s, paystubs, credit report, bank statements, etc. When your FHA home loan pre-qualification is sent to you (after your interview) it will include a checklist that is specific to your file. This checklist will state all the items that you must submit to your FHA home loan officer in order to receive your FHA home loan commitment! Read more...
Tags: easy, Four, Home, Loan, Process, steps
