When you received a notice of foreclosure it is advisable to find the service of a foreclosure lawyer. This can be very hard today to represent yourself in dealings with foreclosure to keep your home. Once you know that your home will be approaching for proceedings then it is advisable to stay away from any foreclosure process before receiving the notice of foreclosure.
Choosing an Alabama mortgage can be as confusing as finding a home. Here at Sunstate Mortgage Company we explain each type of mortgage, help you determine which Alabama mortgage is in your best interest, and how you can get the best Alabama mortgage rate.With each mortgage you must factor in risk, the term of your loan, and the size of the mortgage you need.Alabama Fixed Rate MortgagesEvidently, the interest rate on a Alabama fixed rate mortgage remains the same for the term of the loan. And so your monthly payment (principal balance and interest) also remains the same.
Question: I recently acquired a rental home in addition to my primary residence. I am now in the middle of acquiring another rental. I noticed my Experian score dropped 13 points when the real estate debt showed up on my credit report. Even though the rental generates income, my score takes a hit. How do the lenders view this? Do they consider a healthy bureau report (no negative info) with a point drop due to real estate acquisition as a positive or negative?
Answer: Your credit score is a fluid number. It’s not like a grade given to you at graduation that follows you the rest of your life. Today, your score could be 750. Next year it could edge up to 760 and later turn down to 695. There are variables that determine your score on any given day depending on what’s happening in your credit life at the moment.
The second mortgage refinance boom in less than a year includes more people converting their 30-year loans to 15- or 20-year terms, a move some say indicates people see their houses as better investments than anything else available right now.
With interest rates for borrowers lingering near historic lows, mortgage brokers and banks are swamped with refinance activity that matches the avalanche of applications by homeowners last fall.
Only this time, more are choosing to shorten the payback period on the loan, which allows equity to build faster in what for most people is their No. 1 investment. That may be wise, particularly at a time when stock market returns are in the red and savings rates are scrawny. Home prices, meanwhile, have appreciated.
HELLO THIS IS USA EQUITY MORTGAGE:
It’s a great time again to be a home owner, if your home value is over 100,000 and you need and equity loan, give us a call ASAP, Let us refi your existing loan at a great rate and cash you out on appraised value ASAP.
If you are a first time buyer and need help, let us get you your first loan, we will help you along the way.
If you want to do a reverse mortgage, we can set you up for monies needed in your retirement or that long vacation.