GA Mortgage

First Time Home Buyer Tips: The Loan Process Explained

admin — Fri, 18 May 2012 22:19:57 +0000

Cory Kessenich with Inlanta Mortgage gives a simple overview of the process of mortgage lending

This video is meant to help first time home buyers understand the approval process and what to expect in today’s market. The lending process is so detail orientated there is no way to give you all of the information in one video.

Since qualification requires so many components it’s important to work with a mortgage professional that is experienced.

Resources:

The loan process:

http://www.madisonmortgageguys.com/loan_process/index.htm

What not to do after you apply for a mortgage:

http://www.madisonmortgageguys.com/articles/what_not_to_do.htm

Steps for Handling Bank Accounts Prior to Home Purchase:

http://www.madisonmortgageguys.com/blog/content/how-to-document-assets/

Visit us online at http://www.madisonmortgageguys.com

Cory Kessenich
Mortgage Consultant
Toll Free: 877-240-5810
cory.kessenich@madisonmortgageguys.com

http://www.realestatemarbles.com/mortgage/

NMLS ID# 208789

Inlanta Mortgage is a mortgage banker licensed in Wisconsin, Arizona, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri and North Dakota. We offer USDA Rural Housing loans for purchase and refinance transactions. Pre-qualify today! http://www.madisonmortgageloans.com/apply/

Duration : 0:9:51

Mortgage Lenders

admin — Fri, 18 May 2012 22:19:49 +0000

Alternatives to mortgage lenders

Duration : 0:1:39

Technorati Tags: mortgage, mortgage broker, mortgages, Ocean Finance, panel of lenders, specialised lender

Australia Home Loans Queensland-#1 Mortgages, Loans & Credit Company-Rescue Credit

admin — Fri, 18 May 2012 22:19:25 +0000

http://www.RescueCredit.tk Australia Home Loans Queensland Rescue Credit has been very instrumental to help many families in Brisbane Queensland, Sydney, western Australia and Melbourne, Victoria that are in financial difficulties. Are you facing home foreclosure Subprime loans problems in Brisbane, Queensland? Call the Rescue Credit in Brisbane, Australia on 0390246843 for Free consultation. Australia Home Loans Queensland Rescue Credit has helped many home owners to stop foreclosure and save their homes. Rescue Credit Business Review for Stop Foreclosure in Brisbane, Sydney, Queensland, Western Australia and Business Reviews and Ratings for Stop Foreclosure in Brisbane has been very successful and useful for many households in debts with bank loans, credit arrears and mortgage repayments difficulties. Our team will negotiate with your lenders to Short Sale your home and payment terms with Australia Home Loans http://www.RescueCredit.tk
Whether on the purchase, or listing side of a transaction; whether helping to facilitate a short sale, or Australia Home Loans, we can help. Australia Home Loans Queensland Rescue Credit relentlessly finds negotiates and renegotiates your payments with your lenders that suit your financial situations without compromising your homes. Australia Home Loans Queensland Bankruptcy Lawyer helps families in Brisbane Queensland, Melbourne, Sydney ,New South Wales Western Australia and save their Home; Stop Foreclosure; Stop Public Sale; Erase Credit Card Debt. Australia Home Loans Rescue Credit has locations in Brisbane, Queensland; Melbourne with very Active officers ready to provide you with guidance on your financial problems and gives viable alternative solutions. Sell Your House Fast in the Brisbane BEACH. Avoid or stop foreclosure today. We buy houses in Brisbane BEACH for stopping foreclosure deals. Search the, Australia Home Loans and foreclosure listings in Brisbane Queensland, in Sydney, Queensland, Western Australia and Adelaide below to check out the best real estate deals in these areas right now. If you’re considering subprime loans modification because loans assistance given is inadequate and you are on the road to hire a company or attorney in the direction to stop foreclosure or sort out Australia Home Loans , do not waste money any more, contact Subprime Loans Brisbane Rescue Credit Now @ http://www.RescueCredit.tk

Duration : 0:1:23

Technorati Tags: Australia home loans Brisbane, mortgage finance Brisbane, mortgage refinance Brisbane, Stop foreclosure Brisbane, Subprime Loans Brisbane, subprime Mortgage Melbourne, Subprime Mortgages Brisbane

Obama’s Mortgage Task Force is a Joke

admin — Fri, 18 May 2012 22:18:31 +0000

Via NY Daily News: “Three months ago, in his State of the Union speech, President Obama announced a new task force to investigate mortgage fraud and bring some measure of relief to the 12 million American families who are either losing their homes or in danger of losing them. The new Residential Mortgage-Backed Securities Working Group would be co-chaired by New York State Attorney General Eric Schneiderman, U.S. Attorney John Walsh of Colorado and three Washington insiders from the Justice Department and the Securities and Exchange Commission. Obama said, “This new unit will hold accountable those who broke the law, speed assistance to homeowners and help turn the page on an era of recklessness that hurt so many Americans.” Whether or not the President, attorney general and others intend to get around to this task someday, “speed” was a terrible word to choose. Because 85 days after that speech, there is no sign of any activity…”.* The Young Turks host Cenk Uygur breaks it down.

Read more from Mike Gecan and Arnie Graf: http://www.nydailynews.com/opinion/obama-mortgage-unit-awol-article-1.1063094

Subscribe to The Young Turks: http://bit.ly/eWuu5i

Find out how to watch The Young Turks on Current by clicking here: http://www.current.com/gettyt

The Largest Online New Show in the World.

Facebook: http://www.facebook.com/tytnation

Twitter: http://twitter.com/theyoungturks

Google+: http://www.gplus.to/TheYoungTurks

Pinterest: http://pinterest.com/tytnetwork/

Duration : 0:4:10

Technorati Tags: BANK FORECLOSURES, bank fraud, bank task force, banker fraud, Eric Schneiderman, financial reform, fraud, geithner banks, geithner wall street, government task force, mortgage, mortgage task force, obama mortgage, obama mortgages, obama sotu, schniederman obama, tim geithner, wall street

Frank Garay & Brian Stevens with TBWS – Recommends Southeast Mortgage to MLOs

admin — Fri, 18 May 2012 22:18:12 +0000

Frank and Brian explain why Southeast Mortgage of Georgia is different and the benefits of working with a great team. Great Operations, Fast Close, Free CRM for MLOs co-branding referral partners.

Duration : 0:2:3

Technorati Tags: Agent, alpharetta, Atlanta, Big, Brian, Cal, client, co-branding, Cobb, duluth, dunwoody, estate, frank, Garay, Georgia, GREC, Haupt, home, loganville, lower, manager, marietta, MLO, mortage, Namar, network, NMLS, partners, pre-qualification, Purchase, rate, real, realtors, referal, refinance, Relationship, small, Southeast, Stevens, Think, works

Can someone help figure out the best mortgage percentage/monthly payment please?

admin — Thu, 17 May 2012 12:33:23 +0000

This is for my economics class.

Is it best to have a low 30 year mortgage percentage?

This condo is selling for $167,000
maintenance: $628
*I only have $20,000 for a down payment, but I can only put down 12% instead of the usual 20%- how bad is that, should I take out a loan for the rest of the down payment?

You cannot take out a loan for a mortgage down payment. When you apply for a mortgage, you give your current credit information. If you later take out a loan for the down payment, your credit profile changes and the loan will be disapproved. If you were able to take out a down payment loan, it would become a 2nd mortgage on a piece of property that you don’t own yet.

But if your lender allows you to take back a 2nd mortgage on the property for the balance, then it could be workable. But the 2nd would carry a higher interest rate.

The lower the down payment, the higher your monthly payment will be and the more you’ll pay in interest over the life of the loan.

Maintenance cost is not a factor.

It’s always best to have a low interest loan.

So, whoever wrote that question in your economics class isn’t fully aware of the requirements to take out a mortgage. Poor question.

What does ’subprime’ mean in ’subprime mortgage crisis’?

admin — Thu, 17 May 2012 12:32:56 +0000

My suspicion is that a subprime mortgage is a mortgage that has not been fully paid off… am I correct?

No, you are wrong. A subprime mortgage is a mortgage where the lender didn’t require documentation (or required very little) to qualify for it. One example were the NINA loans (no income-no assets) meaning we didn’t have to prove your income. These loans also required only a 500 or higher credit score. It’s very difficult to have a score less than 500 so pretty much anyone would qualify. There was also the stated income loans where the customer "stated" what their income was. I remember a lady who "stated" she made $150,000.00 a year as a baby sitter. We called these liar loans. These loans were either very high rates or adjustable rates which when the rate went up, it went up by sometimes 3%. That’s what caused the housing market to crash & burn.. These folks could no longer afford to make the payments & just walked away or were foreclosed on.

Should we expect a complete collapse with Franklin Raines and Jim Johnson as Obamas economic advisors?

admin — Thu, 17 May 2012 12:32:30 +0000

”You look at Obama’s economic advisers, the guys he has counted on from day one and who have raised him a ton — and I mean a ton — of money: Franklin Raines and Jim Johnson, both of them are waist to neck deep in the mortgage debacle.”

Both Raines and Johnson have served as CEO of Fannie Mae, with Raines taking over from Johnson. Both are key political and economic advisers to Obama.

Is this the kind of "change: we can expect from an Obama presidency?

Yep, it sure is the type of "change" we can expect. They helped run those companies into the ground and are advising Barack to run this country into the ground the same way.

When should I receive my first mortgage payment bill/ book?

admin — Thu, 17 May 2012 12:32:15 +0000

I closed on my house Feb. 13th 2009, with my first mortgage payment due on April 1 2009. Should I have received a bill / payment book by now as we are heading into mid March? Should I be contacting the lender? Thanks in advance!

You would be better off arranging for that payment to be automatically paid from your checking account on it’s due date.If mail takes longer than expected you’ll end up with late charges.

what do mortgage lenders need from previous landlord?

admin — Thu, 17 May 2012 12:31:56 +0000

Got preapproved from a mortgage lender but they need my rental history from my land lord. What information and documents do they need? I cant get in touch with my landlord. He will not answer my calls.

This is strange.

The mortgage lender needs to contact your landlord. Most landlord require a letter requesting such information on the mortgage lenders’ letter head.

So…I think you need to go back to the mortgage lender and give them the contact info.