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Home purchase loans reach 3-month high
WASHINGTON -- Mortgage applications in the U.S. rose last week for the second week in a row, as demand for loans to purchase homes increased to a three-month high.
The Mortgage Bankers Association said Wednesday that its index of applications to buy a home or refinance a loan rose 0.6 percent last week compared with the previous week, to 657.2. The group's gauge of purchase applications gained 4 percent, to 427.3, the highest since the week ended Jan. 12.
The report might raise speculation that housing is emerging from the worst slump in more than a decade and will become less of a drag on the economy.
The group's refinancing index fell 3.2 percent, to 2015.8. The share of applications for refinancing slid to 41.5 percent from 43.4 percent the previous week.
Mortgage Tips: Pros And Cons Of Refinance Loans For People With ...
If you're stuck under some high credit card bills and your credit rating is slipping, one of the best ways to immediately improve your credit is a home equity loan. When the loan closes, home owners have cash-on-hand to pay off bills. The result: their credit rating starts to improve immediately. Banking executive Dan Ambrose refers to those as the “band-aid loan", also known as the 2/28 in mortgage lingo. “Most sub-time loans are short term loans, not A paper market, which means a fixed rate for two years then the loan adjusts." He's talking about 30 year refinancing mortgages for people with less than stellar credit. Lenders offer a home-equity loan at a set interest rate for two years, and then the loan converts to a variable rate loan, where the interest rate fluctuates with the prime rate at the time.
Kalamazoo, Michigan Mortgage Consultant Reveals Insider Loan ...
This site is loaded with FREE REPORTS, an informative home buying guide, mortgage calculators consumers can use to run various loan scenarios and home buying resources you can use to save time and money before and after you purchase your home.
If you're planning to buy your next home, your first home, that dream home, a condo, vacation home, investment property or looking to refinance in Michigan or the surrounding areas, you will find that this site is a complete resource full of insider secrets that will allow you to choose the loan program best suited to your financial needs.
Here is just a small sample of the secrets revealed on this site...
*Little Known Secrets That Will Show You How To Improve Your Credit Score
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*The Top Mortgage Questions Borrowers Must Ask Before Applying For A Mortgage
*How To Finally Stop Renting And Own A Home Of Your Own
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*7 Things You Should NOT Do When Applying For A Home Loan
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Portage, Michigan - based mortgage expert Scott Hudspeth specializes in providing information to consumers that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.
Brent Houston of Bridgelock Capital Featured Guest Speaker for ...
Brent Houston, COO of Bridgelock Capital, was a featured guest speaker for Pitbull Mortgage School at their Hard Money Seminar held at the Monte Carlo Hotel & Casino in Las Vegas. The seminar outlined high-powered techniques and provided industry contacts for mortgage professionals. Woodland Hills, Calif. (PRWEB) April 11, 2007 -- Brent Houston, COO of Bridgelock Capital, was a featured guest speaker for Pitbull Mortgage School on March 29th, at their Hard Money Seminar held at the Monte Carlo Hotel & Casino in Las Vegas. The seminar outlined high-powered techniques and provided industry contacts for mortgage professionals. The participants were given a variety of tips on how to manage the borrower, mezzanine financing, conduit loans, and how to determine the true value of various property types.
Tax Debt Drives Need for Bad Credit Home Mortgage Loans
Some of the unlucky taxpayers who receive a bill instead of a check may find themselves in a bind and unable to pay their tax debt, leading to serious consequences and a bad credit rating. MortgageCreditProblems.com, a top mortgage site specializing in mortgage lending information for people with credit problems, can help taxpayers who have gone astray with the IRS. (PRWeb) April 16, 2007 -- For taxpayers who receive a hefty tax bill and ignore it this April 17, the resulting federal tax lien could wreck their credit rating and make it impossible to refinance or buy a home. MortgageCreditProblems.com, a top mortgage resource for people with a poor credit history or low credit score, can help homeowners get past their tax debt problems and obtain mortgage financing (http://www.MortgageCreditProblems.com).
Subprime Mortgages And The Refinancing Boom - Options Are Still ...
Editors Note: This is a great interview with someone that is in the industry and knows the situation sub-prime lenders are faced with. Steven Frank answers some questions potential barrowers may have, including whether to refinance their first mortgage, get a second or apply for a home equity line of credit. Here is the article: There are more than 19,000 mortgage companies in the U.S. and some of the largest and most reputable of them specialize in subprime mortgage refinancing. Steven Frank, Senior Vice President of Marketing at FlexPoint Funding identifies a subprime borrower as “someone with a FICO score below 620. He or she will pay between 1.5% and 2% higher interest for a mortgage, but there is no shortage of money or willing lenders in the subprime mortgage market." .
City to fund new affordable housing
The city's Housing Development Corp. is providing $56.4 million of financing to help build three new affordable housing projects in Harlem and the Bronx.
Artemis Construction will use $24 million in tax-exempt bonds and $4.9 million in second-mortgage money to construct Susan's Court in Harlem at 454 Manhattan Ave., between 119th and 120th streets. The building, with 125 units, is being named after Susan Ponce de Leon, a 20-year staff member of the city's Department of Housing Preservation and Development, who died last year.
Susan's Court marks HDC's seventh project under its new Mixed-Income Program, which provides financing for buildings that will house low- to middle-income families alongside market-paying residents. Construction is already underway on the building.
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