Four Steps To Achieving A VA-Guaranteed Loan
Posted on March 9, 2010
Filed Under VA loans | Leave a Comment
When you are looking at the prospect of securing a VA-guaranteed loan, it may be helpful for you to break down this process into four distinct steps. Each one represents a different point in your progress along with necessary elements that carry you forward to the next step.
First, you need a contract to purchase. At this point, the veteran should find a home and discuss the purchase of the property with the seller or associated agent. Then he will sign the purchase contract once a VA loan has been approved.
Second, you should fill out a loan application. The borrower must choose a lender, present a Certificate of Eligibility, and fill out a loan application. Then the lender will process the credit information and contact the VA about assigning an appraiser to find out the reasonable value of the home.
Third, a decision must be made about the loan. Once a value has been accepted by everyone involved, the lender qualifies the borrower and the loan can be approved. It is the lender’s responsibility to make this decision.
Fourth, the loan is closed. Now, the veteran can deal with the closing of the loan. At this point, the mortgage and not should be signed, as well as any other finalizing paperwork. All of the terms and conditions of the loan including payment schedule will be outlined by the lender or closing attorney.
Who is getting all the money out of these outrageous adjusted rate mortgages?
Posted on February 28, 2010
Filed Under Renting & Real Estate | 4 Comments
Also, who is responsible for getting people to sign into this mess? Seems like everyone is losing their homes because all of the sudden the interest went up on their loans.
Who is responsible and who is getting all that money?
What percentage of Americans owe money (including mortgages)?
Posted on February 28, 2010
Filed Under Credit | 1 Comment
Please include a source such as a website if you have one. By owing money I include mortgages, loans, etc. Thanks.
Why was Obama suing banks to force them to give mortgages to people who didn’t qualify ?
Posted on February 24, 2010
Filed Under Personal Finance | Leave a Comment
How does Obama blame other people for the economic crisis when he personally helped to sue banks to force them to give mortgages to people he KNEW didn’t qualify and couldn’t pay them???
Case Name
Buycks-Roberson v. Citibank Fed. Sav. Bank Fair Housing/Lending/Insurance
Docket / Court 94 C 4094 ( N.D. Ill. ) FH-IL-0011
State/Territory Illinois
Choosing The Right Type Of VA Mortgage
Posted on February 23, 2010
Filed Under VA loans | Leave a Comment
Do you want to choose the right type of VA mortgage? Well, the best way to do this is to look at your own lifestyle and personal situation. These factors may be helpful in determining the right sort of VA loan for you.
Take a look at three types of VA mortgage loans and decide which one meshes with your circumstances the best.
A fixed rate loan. Of course, these are the kind of loans that have stable interest rates that will not change over time. They are the best choice for people who are intending to remain in their residence for a extended period. They may also prefer a set payment since it will better suit their budgetary and monetary constraints.
An adjustable rate loan. With these loans, the interest rate starts out at a fixed number for certain period. Afterwards, when the period expires, the rate amount will fluctuate with the changes in the market. This is the preferred option for those who don’t plan to stay in their home for much longer than the fixed period. The reason for this is that adjustable rates will start out at lower levels than fixed rate loans, which saves the borrower money.
Interest only loans. You can get lower payments at the start of your loan term while paying larger ones later in the term. This is used by people who believe they will have sufficient future income to pay the higher rates.
Choosing The Right Type Of VA Mortgage
Posted on February 16, 2010
Filed Under VA loans | Leave a Comment
Do you want to choose the right type of VA mortgage? Well, the best way to do this is to look at your own lifestyle and personal situation. These factors may be helpful in determining the right sort of VA loan for you.
Take a look at three types of VA mortgage loans and decide which one meshes with your circumstances the best.
A fixed rate loan. Of course, these are the kind of loans that have stable interest rates that will not change over time. They are the best choice for people who are intending to remain in their residence for a extended period. They may also prefer a set payment since it will better suit their budgetary and monetary constraints.
An adjustable rate loan. With these loans, the interest rate starts out at a fixed number for certain period. Afterwards, when the period expires, the rate amount will fluctuate with the changes in the market. This is the preferred option for those who don’t plan to stay in their home for much longer than the fixed period. The reason for this is that adjustable rates will start out at lower levels than fixed rate loans, which saves the borrower money.
Interest only loans. You can get lower payments at the start of your loan term while paying larger ones later in the term. This is used by people who believe they will have sufficient future income to pay the higher rates.
Personal Investment & Loan Tips : Reverse Mortgage Tips
Posted on February 15, 2010
Filed Under Video Posts | Leave a Comment
Reverse mortgages are good for senior Americans who can receive a line of credit based on the value of the house. Possibly retire with a reverse mortgage usingtips and advice from an experienced financial adviser in this free video. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC…