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Archive for May, 2010

What’s a Hard Money Mortgage?

What’s a Hard Money Mortgage?

When we think of mortgages we usually think of long-term financing insured by the FHA, VA or with private mortgage insurance. If we have enough cash for a down payment of at least 20 percent then we don’t need mortgage insurance and can just get a conventional loan. However, there are situations where owners run […]

Posted in: Mortgages
What’s A Foreclosure Purchase Mortgage?

What’s A Foreclosure Purchase Mortgage?

In the world of real estate and foreclosures there’s a financial creature called a “purchase money mortgage.” This is the financing used to acquire a home rather than money to refinance the property or add improvements. At first it might seem that a purchase money mortgage was the same as any other financing but that’s […]

Posted in: Foreclosures
How Can I Get Foreclosure Refinancing?

How Can I Get Foreclosure Refinancing?

In general terms there are two forms of foreclosure refinancing, money for those facing foreclosure and financing for those who have purchased foreclosed property and want a new loan with better terms. Facing Foreclosure In the first case we have an owner who may lose his or her home, perhaps someone with a toxic loan […]

Posted in: Foreclosures
Should I Use Private Mortgage Lenders?

Should I Use Private Mortgage Lenders?

If you’ve been turned down for a home loan by a bank you might want to look at private mortgage lenders. This is a wide ranging group that may include some good financing sources — and not a few sharks. In basic terms the world of lending can be divided into two groups, regulated lenders […]

Posted in: Mortgages
Mortgage Originations Tumble In 2010 First Quarter

Mortgage Originations Tumble In 2010 First Quarter

Mortgage originations continue to decline, falling 28% in the first quarter of 2010 when compared with a year earlier, according to MortgageDaily.com. Among the biggest lenders, the site reported that “MetLife Inc’s 41% decline was the biggest of the lenders analyzed, moving it out of the top-10 club. Also losing its top-10 title was Flagstar […]

Posted in: News
Times Square Bombing — A Repeat of History

Times Square Bombing — A Repeat of History

The word this morning is that a suspect in the Times Square bombing has been captured. The New York City police, the border patrol, the FBI and other governmental agencies did a remarkable job assembling evidence, tracking down leads and assuring public confidence. While the investigation is not complete, the organizations and agencies working on […]

Posted in: News
Google Mortgage Ads — Do They Reduce Borrower Costs?

Google Mortgage Ads — Do They Reduce Borrower Costs?

Several months ago Google began offering a new service for advertisers, an ability to post comparison ads. You can see this today with mortgages — just go to: Conventional Mortgages FHA Mortgages Jumbo Mortgages VA Mortgages Go to any of these links and you’ll see that Google generates a search for the type of mortgage […]

Posted in: Mortgages