June « 2011 « home loans – mortgage refinance second mortage

June 29, 2011

Florida’s Affordable Loan Modification Company Keeplivinginyourhome.com Comments On Rise In Foreclosures

Filed under: Home Loans — Tags: Affordable, Comments, Company, Florida's, Foreclosures, Keeplivinginyourhome.com, Loan, Modification, Rise — admin @ 4:32 pm

Florida’s Affordable Loan Modification Company Keeplivinginyourhome.com Comments On Rise In Foreclosures

Boca Raton, FL (PRWEB) December 21, 2009

With the current unemployment rate in the U.S. rising to nearly 10%, the foreclosure crisis has affected nearly 938,000 properties between July to September, compared with 890,000 in the previous quarter, and a 23% increase from the third quarter of 2008. According to RealtyTrac, if this trend continues, foreclosures may hit about 3.5 million this year, compared to 2.3 million homes last year.

“With foreclosure ratting rising, it is important for homeowners to be educated about how they tin prevent foreclosures. Though the Federal Government’s $ 75 billion loan modification program has achieved its goal of beginning trial loan modifications for 500,000 financially-troubled homeowners, a large number of homeowners are still at risk,” told Farid Dallal, owner and CEO of Keeplivinginyourhome.com Loan Modifications.

According to Mr. Dallal, though many lenders regarded troubled homeowners for a mortgage modification to avoid foreclosure, more borrowers could face foreclosures as their moratoriums end. “I understand that homeowners should be given the opportunity and assist needed to maintain their homes. The loan modification process can be very perplexing for homeowners. The fact is there are no existent positioned parameters that suffice a homeowner for a modification,” said Mr. Dallal.

He too added that most banks are presently taking between six months to a year to do a decision on a mortgage application. Quite oft, after waiting for so recollective, the loan modification is denied and the homeowner has to yet face foreclosure. “Buyers who apply for loan modifications should first understand what the process entails. Loan modifications can affect your credit rating by a 50-100 points. If your financial situation is only temporary, it may not be the best option since it would be difficult to rebuild your credit.”

To prevent a foreclosure, Mr. Dallal advises borrowers to contact their lender to discuss foreclosure prevention options as soon as they realize they have a problem making payments – the longer they wait, the fewer options they may have. They should also be wary of foreclosure recovery scams and educate themselves about their mortgage rights and foreclosure laws and time-frames in their state.

“At Keep Living In Your Home, we believe the best way to stay in your home with an affordable payment is to assess the current situation and determine what steps are necessary to qualify for a refinance. A refinance has set parameters that have to be met in order to qualify, which helps our loan officers determine what needs to be done to make the refinance a reality,” Mr. Dallal commented.

For more information, call 1-877-500-3001 or visit http://www.keeplivinginyourhome.com/loanmodification/loan-modifications/checkeligibility.asp

About Keep Living In Your Home, Inc.

Keep Living In Your Home is a cost efficacious loan modification company, that provides loan process, finance, home purchase, debt consolidation, and home equity loan services. The company provides clients with the knowledge they postulate to do the correct decisions to go forrad with the loan process. With its highly enlightened and professional mortgage consultants and processing department, Keeplivinginyourhome.com Services gives clients the better loans to accommodate their needs. As an industry leader, the company takes pride in its immense knowledge of the mortgage industry and the products it offers to borrowers. For more information, visit http://www.keeplivinginyourhome.com/loanmodification/loan-modifications/states.asp?id=32

Keeplivinginyourhome.com is now focusing its loan modification services on the follow states. Alabama Loan Modification, American Samoa Loan Modification, Arizona Loan Modification, California Loan Modification, Colorado Loan Modification, Connecticut Loan Modification, District of Columbia Loan Modification, Federated States of Micronesia Loan Modification, Florida Loan Modification, Guam Loan Modification, Hawaii Loan Modification, Idaho Loan Modification, Indiana Loan Modification, Iowa Loan Modification, Kansas Loan Modification, Long Island Loan Modification, Louisiana Loan Modification, Maine Loan Modification, Massachusetts Loan Modification, Michigan Loan Modification, Minnesota Loan Modification, Missouri Loan Modification, Montana Loan Modification, Nebraska Loan Modification, Nevada Loan Modification, New Hampshire Loan Modification, New Jersey Loan Modification, New Mexico Loan Modification, New York Loan Modification, North Carolina Loan Modification, North Dakota Loan Modification, Oklahoma Loan Modification, Oregon Loan Modification, Puerto Rico Loan Modification, Rhode Island Loan Modification, South Carolina Loan Modification, Tennessee Loan Modification, Texas Loan Modification, Utah Loan Modification, Virgin Islands Loan Modification, Virgina Loan Modification and Washington Loan Modification.

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June 28, 2011

Refinancing Second Mortgage

Filed under: Second Mortgage — Tags: Mortgage, Refinancing, second — admin @ 6:40 am

Refinancing Second Mortgage

(PRWEB) September 9, 2004

We are a mortgage information dissemination company. In our day-to-day business, we see many misapprehended related to mortgage. We hope that this article along with the associated resources will help you in getting a clear picture of it.

Refinancing is the dealing of replacing an existing loan with another lower interest rate loan for the same amount. Rate of interest is the rate in percentage charged by the mortgage lender in calculative the outstanding principal balance. Attraction to have mortgage with minimum interest rates, is the main motive behind refinancing practice. Besides, when the borrower is unable to pay off the debts of current mortgage, then the only outdone way left is to through refinancing.

Second Mortgage is the second loan against a specific piece of property. It is a mortgage subsequent to another mortgage and subordinate to the first one. ( http://www.mortgagefit.com/second-mortgage.html )

People choose to second bond, as their benefits outnumber the drawbacks. Second mortgage is very readily available this encourages its financing. Borrowers can enjoy reduction in monthly payments, if the rates have dropped since the purchase of his/her home. Thus enable a borrower to save, spend or invest more money each month. They tin use the equity build into their homes and utilize this money for home improvements, college tuitions, etc. Refinancing a second mortgage tin help borrowers to regain control of their personal debt. By it, borrowers could pay off other debts and consolidate all their debt into one mortgage lend. This would significantly decrease their interest on credit tease debt. It can equip the borrowers to convert their adjustable rate bond ( http://www.mortgagefit.com/girt.html ) into a fixed rate bond ( http://www.mortgagefit.com/doctoring-rates.html ) . The closing costs for refinancing a second mortgage are lower than the closing costs for first bond. ( http://www.mortgagefit.com/mortgage.html )

Refinancing a second mortgage becomes less favorable, if there are prepayments fees attached to the first mortgage. If the borrower has to pay very huge costing at the time of refinancing, then also he/she can deviate from refinancing. The second bonding lender must agree in writing to low-level his claim to an unexampled first mortgage.

The old rule of thumb was that you should refinance a second mortgage only if the rate is at least one percent lower than your current rate, but in these clock of no- or low-cost financing loans, you may decide that refinancing is in your best interest. If you are halfway through your mortgage term, it is probably not in your favor to refinance because you are now paying more in principle than interest.

In short refinancing a second mortgage is worthwhile if properly utilized.

If you have any other queries related to mortgage, feel free to visit this site.

http://www.mortgagefit.com

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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June 26, 2011

Refinancing “First and Second Mortgage”

Filed under: Second Mortgage — Tags: First, Mortgage, Refinancing, second — admin @ 8:40 pm

Refinancing “First and Second Mortgage”

(PRWEB) September 10, 2004

Attraction to have a mortgage with minimum interest rates, is the main motive behind refinancing drilling. Refinancing is the process of replacing an existing loan with another lower interest rate loan for the same amount. Besides, when the borrower is unable to pay off the debts of current mortgage, then the lonesome best way left is to through refinancing.

First Mortgage is a first loan recorded in the public record, on a certain piece of property. It has priority o’er any subsequently recorded mortgages. In the case of a foreclosure, the first mortgage will be repaid before any other mortgages.

Second Mortgage is the second loan against a specific piece of property. It is a mortgage subsequent to another mortgage and subordinate to the first one.

People choose to refinance, as their benefits outnumber the drawbacks. Borrowers can enjoy reduction in monthly payments, if the rates have dropped since the purchase of his/her home. Thus enable a borrower to save, spend or invest more money each month. They tin use the equity build into their homes and utilize this money for home improvements, college tuitions, etc. Refinancing a first and second mortgage tin help borrowers to regain control of their personal debt. By it, borrowers could pay off other debts and consolidate all their debt into one mortgage lend. This would significantly decrease their interest on credit tease debt. It can equip the borrowers to convert their adjustable graded mortgage into a fixing rate mortgage. The closing costs for refinancing a second mortgage are lower than the closing costs for first mortgage.

Refinancing a first and second mortgage becomes less favorable, if there are prepayments fees attached to the current mortgage. If the borrower has to pay very huge being at the time of refinancing, then also he/she can deviate from refinancing. The second bonding lender must agree in writing to low-level his claim to an unexampled first mortgage.

The old rule of thumb was that you should refinance a first and second mortgage only if the rate is at least one percent lower than your current rate, but in these time of no- or low-cost financing loans, you may decide that refinancing is in your best interest. If you are halfway through your mortgage term, it is probably not in your favor to refinance because you are now paying more in principle than interest.

If you have whatsoever other queries related to mortgage, feel free to see this site.

http://www.mortgagekb.com

External Resources:

1. http://www.mortgagekb.com/fixed-rate.html
2. http://www.mortgagekb.com/mortgage-note.html
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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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June 25, 2011

Commercial Mortgage Lender American Financial Exchange Announces Launch of New Web Site for Home Loan Lending, Refinance Loans and More

Filed under: Home Loans — Tags: American, Announces, Commercial, Exchange, Financial, Home, Launch, Lender, Lending, Loan, Loans, More, Mortgage, Refinance, Site — admin @ 10:45 am

Commercial Mortgage Lender American Financial Exchange Announces Launch of New Web Site for Home Loan Lending, Refinance Loans and More

Southfield, MI (PRWEB) June 25, 2007

Residential and commercial mortgage lender American Financial Exchange announces the launch of its web site, found online at http://www.afelending.com. American Financial Exchange offers residential and commercial loans, home loan lending, refinance loans, purchase loans, hard money loans, jumbo loans and more.

AFE launched the site to give customers the convenience of applying online and getting applications processed quickly. The new web site also offers information and a comparison chart on fixed-rate loans, adjustable-rate loans and interest-only loans.

ÂAmerican Financial Exchange making AFELending.com to assist bring ease and comfort to the business of bonding financing,Â says Jay McNeill, financial controller of American Financial Exchange. ÂAFELending.com simplifies the bond process, ensuring a smooth undergoing from pre-qualification to closing.Â

With a combined 50-plus years of experience, the experts at American Financial Exchange offer professional, knowing service and insight into the mortgage industry. This allows customers the ability to negotiate the most competitive rat and terms.

American Financial Exchange offers refinance loans, purchase loan, grant loans, commercial mortgage loans, interior loan lending programs, hard money loans and jumbo loans. The company offers low fixed-rate loans, with 100 percent financing available. Customers tinning buy a home with as little as 3 percent down, with no credit score needed. Commercial financing of up to $ 500 million is also available.

About American Financial Exchange

Established in 2007, American Financial Exchange brings together the top bankers and specialists in the industry. Together, the experts at American Financial Exchange have more than 50 years of experience in residential and commercial mortgage lending. They can be reached online at http://www.afelending.com or by calling toll free at (888) GO-LENDING.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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June 24, 2011

National Association of Loan Officers Meets With HUD To Advocate Licensing for Loan Officers

Filed under: Mortgage Loans — Tags: Advocate, Association, Licensing, Loan, Meets, National, Officers — admin @ 12:52 am

National Association of Loan Officers Meets With HUD To Advocate Licensing for Loan Officers

Tallahassee, FL (PRWEB) July 13, 2006

A delegation from the National Association of Responsible Loan Officers (NARLO), the trade association of mortgage loan originators, saw with lawmakers in Washington, D.C., to discourse loan officer issues on June 28. NARLO was represented by Ella Gurfinkel of Executive Financial Solutions Inc., Portland Ore.; Christopher Cruise, Baltimore, Md.; and Robert Skrob, NARLO executive director.

The highlight of the group’s trip to Washington was its meeting with Brian Montgomery, Federal Housing Administration commissioner and assistant secretary for housing at the U.S. Department of Housing and Urban Development (HUD). The representatives from NARLO were joined by John L. Garvin, senior advisor; Lily Lee, deputy assistant secretary for single family housing; Phil Murray, associate deputy assistant secretary for single family housing; and Margaret Burns, director, Office of Single Family Program Development.

“The members of the National Association of Responsible Loan Officers are fed up with mortgage loan fraud and the low barriers to entry into the mortgage industry,” said Skrob. “For NARLO members, minimum licensing standards are not acceptable. We must clean up our industry, and to do that we must require all entrants into our industry to undergo a minimum of 40 hours of training, testing and background checks.”

The National Association of Responsible Loan Officers represents the 400,000 mortgage loan originators throughout the country that are employed by mortgage brokers. NARLO fights mortgage fraud by advocating stricter standards for loan officers and through public education.

The National Association of Responsible Loan Officers provides a free web seminar titled “The Newly Discovered Secret Weapon That Turns Rate Shoppers Into Closed Deals for Less Than the Cost of a Grande Latte, Guaranteed.” Visit http://www.NARLO.com.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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June 22, 2011

Help With Closing Cost: New Loan Option for Funding Mortgage Closing Costs

Filed under: Home Loans — Tags: Closing, Cost, Costs, Funding, Help, Loan, Mortgage, Option — admin @ 2:41 pm

Help With Closing Cost: New Loan Option for Funding Mortgage Closing Costs

Englewood, CO (PRWEB) October 28, 2010

Homebuyers have long been challenged at mortgage closing time when they are short funds to fully fund their closing. But now there’s a way buyers can tap the cash value of assets they already own with a collateral-based Boomerang Loan. Like a pawn loan, a Boomerang Loan is fully secured. So it doesn’t affect the buyer’s credit standing, there is literally no obligation repay and loan officers can recognize the loan as an acceptable source of funds.

The down payment, title insurance, points, and other fees add up and often leave buyers scrambling to scrape together the required cash to help with the closing cost. Loan officers, however, keep a close eye on the sources of closing funds to ensure the home buyer doesn’t take on additional debt obligations before closing. Even casual loans or gifts from family members are scrutinized and considered debt obligations. But like a pawn loan, a Boomerang Loan is fully secured by the value of a personal asset. As a result, there is technically no obligation to repay the loan and no affect on the consumer’s credit standing.

Boomerang Lending makes quick and secure collateral loans against fine jewelry, watches, fine art or almost any luxury item in as little as 24 hours. Applications are taken online so customers can loan themselves money from their own homes. Items ship free of charge to Boomerang Lending via FedEx insured up to $ 100,000 by Lloyd’s of London. Expert evaluators assess the market value of the asset and make a loan offer to the customer. If accepted, the customer has 6 months before being required to make a payment. Boomerang returns the item to the customer free of charge, again fully insured by Lloyd’s.

“People from coast to coast are recognizing the convenience of our Boomerang collateral-ground loans,” said Todd Hills, co-founder, president and CEO of Boomerang Lending. “We’ve taken the pawn loan idea and made it accessible to an entirely new set of consumers, including home buyers, who need a small extra cash to close on their homes.”

About Boomerang Lending

A member of the Better Business Bureau, Boomerang Lending offers collateral-backed loans quickly, firmly and privately at 60 percent less than traditional short-term collateralized lending. Boomerang Lending executives have 25 years experience in the collateral contributed industry. Based on its experience and proprietary valuation technology, the company guarantees premium value loans for customers’ assets. Boomerang Lending provides personalized attention to its customers and maintains transparency throughout the entire loan process.

For more information, seeing http://www.boomeranglending.com.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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June 19, 2011

MortgageRefinance.com, a New Internet Destination for Mortgage News and Information, is Slowly Becoming Top Choice for Borrowers and Mortgage Professionals

Filed under: Mortgage Refinance — Tags: Becoming, Borrowers, Choice, Destination, Information, Internet, Mortgage, Mortgagerefinance.Com, News, Professionals, Slowly — admin @ 6:33 pm

MortgageRefinance.com, a New Internet Destination for Mortgage News and Information, is Slowly Becoming Top Choice for Borrowers and Mortgage Professionals

Los Angeles, CA (Vocus) August 5, 2010

The speedy rise in foreclosures over the past few years has speeded the world-wide decline in home prices. The National Association of Realtors reports that the mean home price has dropped by about 23% over the past three years, while condo sales have dropped by 25%. For those who are capable to capitalize on the incredibly low-toned mortgage rates and have full credit to carry a mortgage loan, the low-toned home prices do it a key market for investors.
MortgageRefinance.com is a dynamic website which has current and informative articles on a wide range of topics such as home loans, debt relief, credit card applications, certificate of deposit and money market accounts. The website also offers current mortgage industry news, mortgage calculators, as well as a database of mortgage lenders and brokers.

Certificate Of Deposit Rates and Money Market Accounts

Mortgage Refinance has informational head that help understand what Certificates of Deposit (CDs) and money market accounts are, and how you can choose between the two.

Refinancing Home Loans

Homeowners decide to refinance their home loans for reasons such as:

Stabilizing their payments with a fixed rate loan Lowering their interest rate Getting cash from their home’s equity Debt consolidate The question that we asked is “How do borrowers know when is a good time to refinance?” Mortgage Refinance has a mortgage refinance calculator to help borrowers contrast their mortgage home loan to present loan options and interest rates, and eventually decide if refinancing is a wise choice.
Mortgage Refinance provide directly resource link to mortgage lenders offering a wide variety of home loans, cash out refinancing included. The website has competitory lenders who vie for borrowers mortgage lending by providing lower cost refinance loans.
Once borrowers are ready, Mortgage Refinance can enable them enjoy all the advantages of a home loan custom made to fit their needs.

Reverse Mortgages

A reverse mortgage enables homeowners who are over 62 years of age to use their home equity to pay off their monthly mortgage payment or/and supplement their income. Unlike the traditional mortgage where a homeowner raises their equity by making payments each month, eventually paying off the loan by the end of the term (e.g. 15 years), the homeowner on a reverse mortgage does not make any payment. Rather, they receive payments from a lender, thus enable to supplement the income.
Mortgage Refinance will help you navigate the complicated reverse mortgage process and establish if reverse mortgage is suitable for you.

Student Loans

Besides mortgages, student loans are some of the greatest debts carried by many. College tuition has continued to increase, but many students and student debt holder still choose to advance their education. Mortgage Refinance will help populate with student debt understand their options and how to make the most of it with options like college finance and student loan refinance. The website offers information about various types of student loans such as Stafford loans, Perkins loans, PLUS loans, and individual student loans. It also provides advice on student loan refinancing, as well as how to choose a lender. For borrowers that already have a student loan debt, mortgage refinance offers debt consolidation loans and how to combine student loans into one manageable monthly payment. Borrowers may lower interest rate significantly and save thousands.

Home Loans

Whether borrowers are refinancing their current mortgage, looking into home buying, or in need of money to buy a car or finance home improvements, Mortgage Refinance has a network of lenders who provide loans to fit most credit profiles, lifestyles and budgets.
For borrowers that are buying a home mortgage refinance offers a wide range of mortgage options, including adjustable and fixed terms and rates up to 30 years. With many lenders vying for borrower’s business, Mortgage Refinance tinning help them get the right home purchase lend.
For borrowers that want to lower monthly mortgage payments, access some of their home equity or pay off outstanding debt, mortgage refinance offers refinancing options for current mortgage loans. Refinancing is paying off present mortgage and taking a new one. It also enables to take advantage of the current flexible mortgage options or switch from an adjustable rate mortgage (ARM) to a fixed rate loan. Mortgage Refinance provides information which will help borrowers get started with refinancing their mortgage loans.
With debt consolidation loan, homeowners can get access to their home equity and pay off student loans, car loans, attribute cards or other high interest debts. Mortgage Refinance offers guides which will help borrowers make an informed decision.

Loan Calculators

For borrowers looking for a home loan, Mortgage Refinance has mortgage calculators that help with determining the amount of equity in their home, how much mortgage payments are likely to be, how much they can afford and much more. The following are some of the mortgage calculators which the website offers.

Mortgage affordability calculator – Helps establish what home price and what monthly payments borrowers can afford. Refinance payment calculator – Helps determine what monthly mortgage payments will be if borrowers choose mortgage refinance. Comparison calculator – Helps compare mortgages to decide which home loan suits best. Loan payment calculator – Helps establish the amount of monthly payments for mortgage loans based on several combinations of mortgage interest rate, loan amount and loan term. Refinance home equity calculator – Helps establish the amount of equity when looking for home equity loans. Refinance points calculator – Helps determine if paying mortgage points in advance when refinancing home loan will save money. Home equity calculator – For borrowers considering cash out refinance, the home equity calculator will help establish the amount of home equity that borrowers may borrow against with cash out refinance. Home equity loan vs. Cash-out refinance loan calculator – This mortgage calculator will compare getting a home equity loan or mortgage refinance with cash out? For borrowers that want to tap home equity, this calculator can help compare the benefits of a home equity line of credit to those of a cash-out refinance loan. Loan consolidation calculator – Helps establish if consolidating your debts into one lower interest loan will enable borrowers to lower payments. HELOC calculator – Helps establish what the minimum monthly payments are likely to be for a home equity line of credit. To get the best results, borrowers enter the amount they intend to draw on their equity line, not the credit limit. Home equity loan payment calculator – Helps establish how much monthly payments will be for a specific line of credit or home equity loan based on various combinations of home equity interest rate, loan amount and home equity term. Adjustable rate mortgage (ARM) payment calculator – This calculator will help establish the amount of payments when a mortgage loan adjusts to an ARM loan. Rent or buy calculator – Helps determine if it’s wiser to rent or buy a home. Other calculators available are the interest only calculator, mortgage length calculator, refinance principal calculator, refinance bi-weekly calculator and tax benefits calculator.

Credit Cards

Credit cards are financial tools which can help build credit and postpone payments for important purchases. Credit cards are very valuable, but just like all financial tools require proper responsibility and management. Mortgage Refinance offers information and advice concerning credit cards for bad credit, balance transfer credit cards, % credit cards, business credit tease, cash back assign cards, rewards credit cards, low interest credit cards, secured credit cards and student credit cards.

Credit Reports & Credit Score

Credit report and credit score will impact borrowers financial options, both now and in the future. From which loans borrowers are eligible for, to insurance rates and even getting employed, your credit report and credit score has a wide range of effects. Mortgage Refinance will show you how you can request a free copy of your credit report once a year from the three main credit bureaus. The website also offers tips for rebuilding credit and improving credit scores.

Mortgage News

Mortgage Refinance offers current news on mortgage, home equity, home buying, foreclosure, debt settlement, bankruptcy and finance related topics

Mortgage Lenders & Brokers Directory

Borrowers can browse the Mortgage Refinance directory for mortgage lenders and brokers and obtain a current mortgage quote on mortgage interest rates for various loan programs.

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June 18, 2011

Anonymously Shop Mortgage Loans

Filed under: Mortgage Loans — Tags: Anonymously, Loans, Mortgage, Shop — admin @ 8:39 am

Anonymously Shop Mortgage Loans

Hermosa Beach, Calif. (PRWEB) October 4, 2006

A new website has been designed to offer mortgage consumers the ability to shop mortgage home loans anonymously. LAL Enterprises, Inc. has announced the official launch of http://www.LoanAgentsLive.com a chat based mortgage “shopping mall” with instant live access to over one hundred mortgage companies.

The website is different from typical mortgage websites, because a visitor is actually communicating live with a professional mortgage consultant. One click and the visitor can chat live with a loan consultant from the brokerage of their choice.

When a customer visits LoanAgentsLive.com, they select a state to find lenders licensed to serve them. A link next to each company’s display ad indicates whether a loan officer at the brokerage is available to chat.

It appears to be a successful approach as more and more consumers are reluctant to give out their phone numbers and personal information via online applications. Based upon preliminary results from a beta test conducted by LAL Enterprises, Inc., consumers are over 4 times more likely to initiate a chat with a mortgage consultant then fill out an online application.

Chat technology allows consumers the ability to “test the waters” without having to provide their phone number or e-mail address. Consumers also have the option to switch to a phone conversation with the same loan consultant at anytime they wish during a chat.

Offering live chat to mortgage consumers is a newer concept, but some industry giants already have implemented it. According to The Washington Times, live chat helped increase Bank of America’s online mortgage sales by 800 percent in the first quarter of this year, compared with one year earlier.

It’s good news for Bank of America and their “good credit” customers, but what about other mortgage consumers? Those that can’t qualify for a traditional loan or those that what to shop companies and ask around.

According to the President of LAL Enterprises Inc., Aaron Quick, that’s what makes LoanAgentsLive.com so unique. Quick stated, “Having the ability to shop, ask, and get answers from multiple mortgage companies offering all types of mortgage loans and services, all on one site, live and anonymously; that’s what makes us appealing to consumers.”

To ensure the safety of visitors to the website all chats are done over a secure server. LoanAgentsLive.com also conducts background checks and personal interviews with all listed brokerage firms to exclude those with a history of predatory lending. For more information please contact Patrick Bliesener at 310-374-7896 or visit http://www.LoanAgentsLive.com

About LoanAgentsLive.com:

Offering mortgage seek consumers a simple and untroubled way to chat, in real-time, directly and anonymously with a Loan Consultant from the Lender of their choice.

Chat, Choose, Win!

Patrick Bliesener

LoanAgentsLive.com

877-638-3869

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June 16, 2011

ABT Announces New Low-Cost Software Solution for Loan Origination Tracking

Filed under: Mortgage Loans — Tags: Announces, Loan, LowCost, Origination, Software, Solution, Tracking — admin @ 10:34 pm

ABT Announces New Low-Cost Software Solution for Loan Origination Tracking

Folsom, CA (PRWEB) February 3, 2005

Access Business Technologies, provider of innovative web-based software solutions for the mortgage industry, has announced the development of a new product that allows mortgage lenders to track new loans at a greatly reduced cost.

ÂWeÂve found that many lenders donÂt start tracking loan until theyÂre entered into the system by the loan processor. This is because tracking software has traditionally been too expensive for some lenders to buy copies for each loan officer. This results in the loan processor duplicating work done earlier by the loan officer,Â says Justin Kirsch, President and CEO of ABT.

Kirsch says lenders are losing money because theyÂve had to continue to rely on inefficient manual processes. Also, they donÂt have an accurate picture of their loan pipeline because of the delay in getting loans into the system.

ÂAccessPointÂ lets you see the loan status using your existing software as soon as the loan officer completes the application. Everyone from the processor to the manager can see the loan immediately. This includes parent companies who want to keep better track of their net branches. And, itÂs available for around $ 19.95 per loan officer per month,Â says Kirsch.

AccessPoint works with ABTÂs DecisionPointÂ software as well as other industry-standard applications used by loan processors and managers, such as CalyxPoint and DataTrac. Loan applications are transmitted easily from the loan officer to a central database and the loan processor is immediately notified and has access to the loan application, using ABTÂs web-based user interface.

Kirsch says that using AccessPoint will save time that is currently being wasted. ÂIn many mortgage brokerages, loan officers complete the application, print it out, and fax it to the loan officer. The loan processor then re-enters the same information into another system. Meanwhile, loan officers spend too much time following up on faxes and checking loan status. Because AccessPoint gives the processor immediate access to new loan applications, the entire loan process is faster and each processor can handle more loans.Â

AccessPoint gives loan officers access to their own loan pipeline from their desktop. They can provide customers with immediate loan status, saving time and telephone calls.

AccessPoint is a real-time solution that eliminates many of the manual processes used to transmit information between loan officers and loan processors.

Mortgage lenders who have affiliated NetBranches can use DecisionPoint and AccessPoint to track all of their pending loans using a single integrated software product. Lenders who now use DecisionPoint for their loan processors can add AccessPoint for their loan officers for a minimal cost, making it an ideal solution for small- to medium-sized mortgage lenders who want to speed up the loan origination process.

Interested parties can obtain a more information about AccessPoint from the ABT website at AccessPoint.MyABT.com.

About ABT

Access Business Technologies hosts industry-standard mortgage processing software over the Internet, enabling banks, credit unions, mortgage servicers, and housing authorities to automatizing the entire mortgage lending process. For additional information, contact Tim Rost at 888-636-5426, or e-mail info@myabt.com. Visit ABTÂs website at http://www.The-Mortgage-Experts.com.

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June 15, 2011

FHA Mortgage loans for Condos and Town homes

Filed under: Mortgage Loans — Tags: Condos, homes, Loans, Mortgage, Town — admin @ 12:34 pm

FHA Mortgage loans for Condos and Town homes

FHA Mortgage loans for Condos and Town homes

Eligible FHA mortgage Applicants:

Any creditworthy potential owner-occupant who meets FHA home loan underwriting criteria and will make the condominium unit their principal residence is eligible for a mortgage insured under this program.

Florida home buyers should know the many advantages of the FHA mortgage loan programs. FHA loans were created to help increase home ownership. For the Florida Condo or townhome 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:

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 regulating 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.

To take advantage of the FHA program in Florida, give us a call 1-954-667-9110 to find out more about the many FL mortgage programs we can make available. Or Apply now for a FL FHA home loan.

http://fhamortgagefhaloan.com/

FHA Mortgages for Townhomes Condominium Units

The FHA mortgage insures the FHA home loan for a person who purchases an unit in an an association including Town homes and condos

One of the many purposes of FHA mortgage including the purchase of a Florida townhome or condo. FHA encourages FHA approved lenders to make affordable mortgage loans credit uncommitted for unlike forms of ownership. FHA Condominium and townhome loans, in which the owners of the condo or townhome units together ain the development’s mutual areas and facilities. FHA mortgage Insurance for condominiums, such as is rendered through Section 234C, can be significant for low-toned- and temperate-income renters who desire to hedge being displaced by the conversion of their apartment building into a condominium.

Type of Assistance:

This program insures a FHA mortgage loan for as many as 30 years to purchase an unit in a condominium building — which must contain at least four dwelling units and can be detached or semidetached, a row house, a walk-up, or an elevator structure. The FHA mortgage loan is made by a FHA approved lending institution, such as http://www.fhamortgagefhaloan.com mortgage company, bank, or savings and loan association, and is insured by HUD’s FHA loan program.

Most of the features of FHA’s Section 234C FHA mortgage insurance are the same as those governing HUD’s basic FHA mortgage insurance program, FHA Mortgage Insurance for 1-4 family Section 203B. For example, down payment requirements can be low as only 3.5% because FHA insurance allows homebuyers to finance about 96.5 percent of the home’s cost through their FHA mortgage. In addition, some seller paid closing costs can be financed, reducing up-front costs. And, FHA limits some fees that FHA approved mortgage lenders charge-for example, the FHA loan origination charge. FHA sets limits on the size of the FHA mortgage loan that vary with location and the number of units being purchased.

However, Section 203 C condo loans have some unique restrictions. If the apartment is in a building that was converted from rental housing, no insurance may be provided under Section 234C unless: (1) the condo conversion occurred more than one year before the application for insurance; (2) the potential buyer or co-buyer was a tenant of that rental housing; or (3) the conversion of the property is sponsored by a tenant’s organization that represents a majority of the households in the project. Eighty percent of FHA-insured mortgages in the project must be made to owner-occupants.