home lenders refinance mortgage

October 2, 2011

Q&A: who is the best home loan lender for first time buyer in michigan?

Filed under: Home Lender — Tags: , , , , , , , — admin @ 10:13 pm


Question by sublimeangell: who is the best home loan lender for first time buyer in michigan?
first of all i am active duty in the marine corps (2 years left), i dont want to use my va loan yet. my credit is not great and i do not have much to put down only a couple thousand. what should i do? thank youmy credit score is 660, is that bad.

Best answer:

Answer by Steve M
What you should do is seek out a lender with FHA financing. FHA is about the only zero down payment program today. It is technically a 3% down program, however you can have that paid for as well through various techniques. Again consult a lender that is very familiar with FHA, as well as your real estate agent because he/she needs to structure the contract a certain way for FHA loans to take advantage of it. As far as your credit score, FHA does not have a minimum credit score limit. Your ability to re-pay the loan is the single determining factor with a FHA loan. Your credit score of 660 is not to bad. It could use some improvement, but certainly not horrible. So to re-cap; FHA loans are becoming more and more popular due to tighter lending requirements with conventional. There are ways to get a home with zero or very little down. There also is a reduced mortgage insurance monthly premium. I see that being a perfect loan for you.



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September 28, 2011

Q&A: When am I tied up to a LENDER during home loan process ?

Filed under: Home Lender — Tags: , , , , , — admin @ 7:12 pm


Question by johnpau2009: When am I tied up to a LENDER during home loan process ?
I am shopping for home loan.I have seen several populating giving some online quotes.Now after I send my info and application to the lender and they run the impute check and give me rates.1) When exactly am I tied up to the LENDER ? after the rate lock or just after submitting my info the lender ?2) Or can I move to another Lender anytime I want to ?So until the closing date I am not tied up to any LENDER ? good

Best answer:

Answer by golferwhoworks
you can move at any time but the process starts over so not the best thing to do in any event.See all lenders must secure the money on the loan when it is locked. It can effectuate the lenders pull through ratios



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September 27, 2011

Quicken Loans-America’s Home Loan Experts

Filed under: Home Lender — Tags: , , , , — admin @ 10:12 am


Quicken Loans is that nation’s largest online lender for a good reason. We love being America’s Home Loan Experts. We’ve helped nearly 900000 clients finance a mortgage since 1985 and we can help you too. Learn more at www.quickenloans.com



More info: www.sueyourmortgagelender.com Learn the “PRODUCE THE NOTE” strategy to fighting indorsing against your lender and winning. Most lenders have LOST the original mortgage observe and cannot find it. Think of the promissory note that you signed as a watched. If the check you signed and gave someone to cash at a later date is LOST – then guess what? THEY CAN’T PROVE THAT YOU EVER OWED THEM ANYTHING. This is the same way it works with your promissory observed and your mortgage. The recorded mortgage is simply public record notice and lien against your home which references the promissory note – which is not recorded. In order to have legal standing to foreclose against you, your mortgage lender must prove they are the owners of the debt. And the way to prove this is by producing the ORIGINAL promissory note. If they cannot produce this – they cannot foreclose against you. WARNING – many corrupt banks have digital scanned copies of the remark but they can’t find the ORIGINAL. So what they are doing is printing these scanned copies through high resolution color copiers and presenting these as proof. It is almost impossible to tell these are copies to a novice. But if you act a yellow highlighter and run it over the ink signature – it will smudge. On a copy – the signature ink will NOT smudge. Also you can flip the notary close page upside down to see if the ink stamp hemorrhage through. It will not bleed through on a copy. You can also follow the signature lines and look for the pressure

September 12, 2011

What’s gonna happen if home loan lender going broke?

Filed under: Home Lender — Tags: , , , , , , , — admin @ 7:12 am


Question by ariel: What’s gonna happen if home loan lender going broke?
I have a home loan with a bank, and just wanna know what’s gonna happen if the bank travelled broke?Will we lose the house?Or will the home loan be nullify?Please help cause I’m confused with all that’s been happening lately like AIG and Lehman Brothers travelled broke.

Best answer:

Answer by chuckles951
Nothing major will occur. You will get a letter one of these days that another company has bought your mortgage from your defunct lender and that payments and inquiries should be sent to the company that now holds your loan.You will calm have to make the payments as before.



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September 2, 2011

Can my lender request my home insurance be equal to the loan amout.?

Filed under: Home Lender — Tags: , , , , , , — admin @ 4:12 pm


Question by Scott T: Can my lender request my home insurance be equal to the loan amout.?
While in the proccess of re-financing my home the lender is requiring that the home insurance be equal to the loan amount instead of the value of the home. My insuance agent says that’s illegal. The lender say this is a proper request. Whos right??

Best answer:

Answer by Shelley
Your insurance should atleast be enough to cover the cost of the loan. If your home is worth more than the amount of the loan, you insurance should be for the value of the home. If your loan value is greater than the value of the interior (which is bad for many conclude) you would require insurance to protect the lender in the case of loss of the home.



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August 24, 2011

Q&A: which type of lender should I go to, to get preapproved for a home loan?

Filed under: Home Lender — Tags: , , , , , — admin @ 1:14 am


Question by JAQ: which type of lender should I go to, to get preapproved for a home loan?
Should I go to the bank (BOA) I already have an account with? Or a specialized lender that does home loans specifically? also, how long does preapproval stay valid? Will I have to reapply if I wait too long before purchasing?

Best answer:

Answer by Al
This oppugned is all based on your credit history, your credit history can be found in a credit report which can be obtained online, then with your credit report find a reputable finance company that specializes in that credit rating, like no attributed history or blemish credit would require a company that specializes in BC credit.



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August 21, 2011

What will happen to my loan/home if the lender who gave us the loan goes into bankruptcy or out of business?

Filed under: Home Lender — Tags: , , , , , , , , — admin @ 7:13 am


Question by Krishna R: What will happen to my loan/home if the lender who gave us the loan goes into bankruptcy or out of business?
With the sub-prime lenders going bust in the present hosuing market there are many home-owners whose loans/homes might be in jeopardy.

Best answer:

Answer by starsky_1212
The lent is always sold to another bank/lender with your same loan terms,yes ,you will tranquillize have to pay your loan off.



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