Archive for September, 2008
Credit Repair – How to Minimize the Damage of Identity Theft
Credit Repair - How to Minimize the Damage of Identity TheftBy Ken SIdentity theft is real. So is the need for subsequent credit repair. There are millions of unknowing victims around the world that are preyed upon by identity thieves all day, every day. Unless you have identity theft protection, and with the exception of prepaid [...]
Loan Modification?
Bee asked: Hi I'm still up to day payment with pay min. require to lender. Is it easy to call lender to ask for Loan Modification to get lower rate and fix term or should I pay to law office and pay certain fee to deal with lender. Because I heard it not easy to get loan modification unless I didn't make payment for couple months otherwise I had [...]
What does it mean to default on a mortgage? what are subprime mortgages and how do the two relate?
Who are the people that are defaulting on their mortgages? which companies (industries) are involved in this? Additionally does this go on in some regions more than in others? what effects does it have on the economy and our daily lives? what can be done to prevent further morgage defaults and fix the tumbling economy? what shouldve been done [...]
What is the difference in 1st home, 2nd home and investment mortgages?
I understand the difference in the definitions of the use of the property, but what does this mean in terms of the mortgages offered for each type of use? Is the difference in the rate, term, max LTV? Something else? If you have one residence in a town and want to buy another, but expect to occupy the 1st for some time while you rennovate the [...]
How do lenders come up with the interest rates for mortgages?
I want to know how banks set the interest rates for mortgages. All I know is that they move up and down with the fed funds rate and discount rate (Correct me if I am wrong). Does anyone know all factors that play into the rates that lenders come with? Is there a way to calculate or give more or less weight to any one of them? Thank you. That [...]
