tag:blogger.com,1999:blog-74407344711928804752024-02-08T07:53:44.657-08:00FHA Loan to Value RatioAdminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comBlogger20125tag:blogger.com,1999:blog-7440734471192880475.post-9000908978378646202012-09-19T06:23:00.001-07:002012-09-19T06:23:11.402-07:00Can I Refinance With Late Mortgage Payments<strong><p>Being late on the <b >mortgage</b> is something that many home owners never experience. But for those who have had past due payments they know how stressful it can make life. You have probably asked yourself, can i refinance with late payments? Well rest assured because the acknowledge is yes! Read on to find out what programs will allow you to refinance when you have delinquent <b >mortgage</b> payments.</p></strong>
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<p><i><b>Late <b >Mortgage</b> Refinance Programs</b></i></p><p>How long ago your late payments occurred will dictate what programs you can use to refinance your home <b >loan</b>. If they were over twelve months ago you can use <b >Fha</b> programs to not only get a low rate but also a garage fixed rate <b >mortgage</b> as well. To qualify for this type of <b >loan</b> you will need to have debt to wage <b >ratios</b> below 45% and your asset taxes must be current.</p><p>Your other selection would be a sub prime <b >loan</b>. Sub prime mortgages are ready for borrowers that have late payments up to ninety days late and reputation scores down to 500. The only drawback to these <b >loans</b> is they have high interest rates that often are over 10% and they also do not allow you to borrow much more then 80% of your homes <b >value</b>. Many sub prime <b >loans</b> are adjustable mortgages and if you cannot get your reputation up to a higher level when the Arm begins to adjust you could be in for a major problems. While these <b >loans</b> have gotten a lot of bad press lately they can help you get straightened out but only if used correctly. If you are taking out this type of <b >loan</b> make sure that you opt for the fixed rate option.</p><p>When you start to miss <b >mortgage</b> payments and realize you need some sort of help it can seem overwhelming. But take a deep breath and talk to a seasoned <b >mortgage</b> broker who can help get you into the right <b >loan</b> agenda to keep your home from foreclosure and your reputation rating in tact.</p>
<p></p><p> <a href="http://howtousenetgearwirelessrouter.blogspot.com" rel="dofollow" title="How to use Netgear Wireless Router">How to use Netgear Wireless Router</a> <a href="http://mortgageloantovalueratio.blogspot.com" rel="dofollow" title="Mortgage Loan to Value Ratio">Mortgage Loan to Value Ratio</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-90121239237063610852012-05-20T17:31:00.001-07:002012-05-20T17:31:03.961-07:00How to remove Fha Mortgage assurance From A Loan<strong><p>Thousands of home owners have been insured by the Fha. The loans they have taken are protected by the government straight through the Fha and in the event of their default will be covered. When you have Fha mortgage insurance, you cannot take off it from a loan although Pmi can be removed. The latter is a kind of guarnatee course designed to protect lenders from borrowers who are very risky and can default in production their monthly payments. This kind of guarnatee is a must for those who do not have 20% equity on their homes at the point of production down payment. Pmi can be removed although one has to meet some standards.</p></strong>
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<p>You will need to know if your mortgage is insured by the federal government. You can check your mortgage documents for this or naturally call your firm for confirmations. This will conclude if you pay the Pmi guarnatee course on your mortgage or not.</p>
<p>From here, you will need to know the loan to value ratio of your home. This is the value of your mortgage balance (the number you are yet to pay to your bank) divided by the worth of the house under current shop standards. For example if you have a loan of 0,000 and you have paid ,000 as down payment you are yet to pay off ,000. Your Ltv ratio will be ,000 divided by the value of the home, which is its buy price, 0,000.</p>
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<p>From here you will need to know what ration your bank charges when someone's' Ltv stands at 90. Usually, they will not charge a dime of your Ltv is less than 80% because by then you will have more than 20% equity on the house. Most lenders will charge something in the range of 0.5% to 1% depending on your Ltv. If what they charge is 0.55%, you will pay 5 annually and .25 every month.</p><p>The dismissal of Pmi means that you will have to pay off more than 20% of the value of your home. From here, you can call your lender and ask for its removal. If you are not able to pay 20%, you can either look for a new house that is cheaper or get a loan or borrow money from friends and relatives etc. You can never take off Pmi from your significant number if you have not paid 20% and gained great equity on the house.</p>
How to remove Fha Mortgage assurance From A Loan
<p></p><p> <a href="http://wirelessinternetcamerasurveillance.blogspot.com" rel="dofollow" title="Wireless Internet Camera Surveillance">Wireless Internet Camera Surveillance</a> <a href="http://epl-highlights-clips.blogspot.com" rel="dofollow" title="EPL Zone Shopping">EPL Zone Shopping</a> <a href="http://usbcableipodtouch.blogspot.com" rel="dofollow" title="USB Cable iPod Touch">USB Cable iPod Touch</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-51085419099643988382012-05-01T12:46:00.001-07:002012-05-01T12:46:27.694-07:00California Home Loans With New Fha Guidelines<strong><p>For those in California home loans with the Fha are coming under new guidelines beginning January 1, 2010. People in California need to be aware of the changes so that they can make the best decision for their own finances. Congress recently passed a bill that will increase the current Fha loan limits for 2010. Presently California Fha loan limits are capped at 5,500 in specified high cost regions.</p></strong>
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<p>What are the changes and what do they mean? Current California home loans with the Fha are relatively easy to get. They require no evaluation at this time. There is no maximum loan to value ratio and there is no asset verification. Earnings verification is not required and lower credit scores can qualify. And right now, because of the lack of these primary restrictions, there are quick turn-rounds ready on these loans. This has made California Fha loan refinances extremely favorite with many People looking to lock in a lower rate. But time has come to be of the essence. This is going to turn at the beginning of 2010.</p>
<p>On January 1, 2010, California mortgage loans with the Fha will come to be more difficult to get. If the home owner wants to roll his windup costs into the mortgage, an evaluation is going to be required, and it is now recommended in all cases. Without an appraisal, the new loan amount cannot exceed the critical due plus the new up-front mortgage assurance premium. The maximum loan to value ratio is going to be no more than 97.75%. If a homeowner wants to lower their rate by purchasing discount points, those cannot be rolled into the mortgage. Assets and Earnings are going to have to be verified before approval. The homeowner also must be employed at the time of application. And there will be tighter credit restrictions as well. With these added restrictions, quick turn-rounds will be a thing of the past. All of these changes will likely not lower the Fha refinance's popularity. But it will make it ready to fewer people.</p>
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<p>Given these changes, Fha borrowers with <a target="_new" rel="nofollow" href="http://www.fhahomeloanrefinancing.com/fha-mortgage-loan/california.html">California mortgage rates</a> that are adjustable need to make decisions on Fha refinancing. If the tighter restrictions will make their hopes of refinancing fade, they might want to get the process done prior to the end of 2009. That means getting their loan documentation submitted and popular ,favorite quickly. However, if they can live with the tighter restrictions, it might pay to wait until the beginning of 2010. It depends on the personel homeowner and their situation. Speaking with a California mortgage professional will help you make the refinance decision that is best for you.</p>
California Home Loans With New Fha Guidelines
<p></p><p> <a href="http://netgearwirelesssupport.blogspot.com" rel="dofollow" title="Netgear Wireless Support">Netgear Wireless Support</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-48516993366279694872012-04-22T00:00:00.001-07:002012-04-22T00:00:08.051-07:00Getting Your Loan Modifications approved - Guide to Getting Your Modification straight through<strong><p>Loan modifications are currently the most viable selection to avoid foreclosure for most middle-income families. While they are not a former reply to avoiding foreclosure like refinancing, they are much more available and are productive in most situations.</p></strong>
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<p>When most population think of loan modifications, they think of a free break. But financial convention has for modifications are nowhere near as easy to get as many would hope. There are correct requirements each financial convention has for loan modifications, and although the Obama management has made great strides to make modifications much less difficult to obtain, they are still not a walk in the park.</p>
<p>Getting a loan modification requires the right paperwork, negotiations, and perseverance.</p>
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<p>To start off, you need to determine whether or not you are admittedly under financial hardship or not. Under the Home Affordable Modification Program, a homeowner must be going straight through financial hardship in order to qualify for loan modifications with any lender. Financial hardship is indicated by having a high debt to wage ratio, so much so to the point where making payments are practically impossible. Luckily, or unluckily, a large quantum of homeowners in the United States are currently going straight through financial hardship and they at least have that requirement filled.</p><p>Besides financial hardship, your lender is going to need proof of your wage and expenses, and will also take a look at your credit, and take a look at the preliminary and current values of your home.</p><p>If you're positive you're in financial hardship or think you might be, it's time to fill out the loan modifications application. Some financial institutions have the applications on their website to give you an easier and streamlined process, but sometimes it can be great to fax, mail in, or even take the application in to a local office. Sending it in online can be easier, but giving it a more personalized touch can help you in negotiations, especially if you are working with a smaller lender.</p><p>Along with your application, you're going to need to submit a letter of hardship. The hardship letter is the sole medium a lender will listen to pertaining to your take and circumstances. Any single circumstances that have led to your current financial hardship are to be described in the letter. The letter may seem like a step you can skip, but in reality the hardship letter can prove to be the most prominent and tide turning part of your application.</p><p>After the application and letter comes the negotiations. It's inherent to successfully negotiate on your own, but you have a great opportunity with a loan modifications attorney or a representative from the Fha backing your argument. And even after the negotiations, it can take eight weeks for loan modifications applications to be approved, so while the modification can help you, it is not a temporary or quick fix.</p>
Getting Your Loan Modifications approved - Guide to Getting Your Modification straight through
<p></p><p> <a href="http://usbcableadapteriphone.blogspot.com" rel="dofollow" title="USB Cable Adapter iPhone">USB Cable Adapter iPhone</a> <a href="http://wirelessheadphonesipod.blogspot.com" rel="dofollow" title="Wireless Headphones iPod">Wireless Headphones iPod</a> <a href="http://car-ac-compressor-troubleshooting.blogspot.com" rel="dofollow" title="Car AC Compressor Troubleshooting">Car AC Compressor Troubleshooting</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-63491214398755353942012-04-12T11:15:00.001-07:002012-04-12T11:15:54.587-07:00The Hope For Homeowners agenda - The Plan to Help Struggling Homeowners<strong><p>In early December 2008, the Chief Economist and Senior Vp of investigate and Economics for Mortgage Bankers connection said, "At this rate we are finding at finishing 2008 at about 2.2 million foreclosure actions started." With such high numbers of foreclosures happening colse to the country, the stability of our national cheaper as well as the global cheaper has been threatened. Powerhouse associates are facing bankruptcy, neighborhood streets are littered with "for sale" signs, and homeowners in every earnings bracket are feeling the pinch.</p></strong>
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<p>The housing urgency has had a domino supervene on the rest of our markets, and with no end in sight for foreclosures, it became confident to legislators and lending associates that they'd need to work together to help out struggling homeowners, and in turn, our whole economy.</p>
<p>The Hope for Homeowners initiative was designed by Congress to help homeowners who are at risk for foreclosure. The goal was to support qualified homeowners by getting them new mortgages through a joint speculation between lenders and the Federal Housing Administration.</p>
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<p>The Hope program began on October 1, and will continue until September 30, 2011. With .5 million dollars available, it has been projected that as many as 400,000 homeowners would receive aid through Hope, and be able to keep their homes.</p><p>In its first incarnation, the Hope program included the following terms and conditions:</p><p>-the traditional mortgage must have been created on or before January 1, 2008.</p><p>-as of March 1, 2008, the monthly mortgage payments must be costing the homeowner more than 31% of their gross monthly income.</p><p>-the new Hope loan would be based on 90% of the home's appraised value, which means that lenders must agree to take a loss on every loan through the program.</p><p>-if the home appreciates in value, all profits must be shared with the Fha.</p><p>-the mortgage would be a 30-year, fixed rate loan, with a maximum allowance of 0,440.</p><p>With these and many other stipulations in place, the Hope program failed to attract lenders and borrowers. In fact, over the course of the first two weeks, a mere 42 habitancy applied for the program. This led the branch of Housing and Urban development to make key changes to make the plan more appealing.</p><p>One of these changes included addition the loan-to-value ratio from 90% to 96.5% for qualified borrowers. This single adjustment would make the program much more entertaining to lenders who felt that going through the ordeal of the Hope program would supervene in very itsybitsy salvage for them. In fact, many lenders felt that the Hope for Homeowners program wouldn't return to them much more money than a easy foreclosure would.</p><p>The branch of Housing and Urban development also increased the amount of years that borrowers had to pay back the loan, from a set 30 years to a more flexible span of 30-40 years. This convert means that participants in the program would be able to sacrifice their monthly payments even more, thereby development the hassles of the program more worthwhile. In addition, the maximum loan amount has been increased to allow room for more eligible borrowers than the program's introductory scope.</p><p>These changes indicate that those in power see the need to make financing more flexible for homeowners who are having issue development their monthly payments. Their hope is that more habitancy will find out about the program, and that lenders will be willing to work with the Fha to keep habitancy in their homes. After all, the more foreclosures we have in this country, the worse our cheaper gets. While mortgage payments are one person's problem, our society's rapid slide into a retreat affects us all. It's time for solutions.</p>
The Hope For Homeowners agenda - The Plan to Help Struggling Homeowners
<p></p><p> <a href="http://htcsensationunlocked.blogspot.com" rel="dofollow" title="HTC Sensation Unlocked">HTC Sensation Unlocked</a> <a href="http://usbcableadapteriphone.blogspot.com" rel="dofollow" title="USB Cable Adapter iPhone">USB Cable Adapter iPhone</a> <a href="http://50ftusbcables.blogspot.com" rel="dofollow" title="50 Ft Usb Cables">50 Ft Usb Cables</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-7328604161934730612012-04-06T18:37:00.001-07:002012-04-06T18:37:05.306-07:00comprehension &quot;What Is An Fha Loan?&quot;<strong><p>Many habitancy wonder, what is an <b >Fha</b> <b >loan</b>? These are special mortgage <b >loans</b> which are backed by the United States Federal Housing supervision (<b >Fha</b>). They are available straight through lenders which have been stylish by the Federal Housing Administration.</p></strong>
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<p>This type of financing has historically been extended to lower wage individuals and families. The agenda provides opportunities for low-income citizens to borrow money to purchase homes. Otherwise, many would not be able to obtain funding.</p>
<p>This progressive agenda was launched in the 1930s, during the Great Depression. during this period, the rate of defaults and foreclosures increased dramatically. The program's preliminary purpose was to contribute sufficient levels of insurance to lending institutions. It managed a range of insurance <b >loan</b> programs.</p>
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<p>Its creation was formalized by the 1934 National Housing Act. Its introduction was intended to stimulate the economy by addition the whole of home construction projects while reducing unemployment rates.</p><p>Since the program's inception, the whole of Pmi (Private Mortgage Insurance) clubs has increased greatly. This prompted a modification to the Federal Housing Administration's mission. Today, federal <b >loans</b> are primarily intended to support habitancy who cannot raise the valuable down-payment funding, or do not qualify for former <b >loans</b> from Pmis.</p><p>The Federal Housing supervision does not directly contribute <b >loans</b> to individuals or families. Rather, it insures the <b >loans</b> which are made by hidden lenders. In order to obtain mortgage insurance from federal programs, a Mip (Mortgage insurance Premium) must be paid. This whole varies agreeing to the <b >loan</b> amount. At closing, the cost is due. It is often financed by the mortgage lender, and paid to the <b >Fha</b> on profit of the borrower.</p><p>When seeking a housing <b >loan</b> from the federal government, applicants must first coming various mortgage brokers or lending organizations to resolve which ones have been stylish for participation in the program. Each lender establishes its own terms and rates, so it is wise to assess any institutions.</p><p>There are any factors that are taken into notice by lending institutions when they are reviewing mortgage applications. The <b >ratio</b> of an applicant's debt to wage is analyzed to resolve the maximum whole of funds that can be borrowed. Monthly expenses are also taken into consideration. In addition, cost histories are examined.</p><p>Through this program, first-time home-buyers who are stylish for <b >loans</b> may be eligible for down-payments as low as three-point-five percent. They may also receive a maximum of six percent towards their windup costs. When applicants have non-existent or minimal levels of credit, a blood relative may co-sign the <b >loan</b> without being required to reside in the home. That person becomes designated as the Non-Owner-Occupied Co-Borrower.</p><p>Understanding "what is an <b >Fha</b> <b >loan</b>?" can be beneficial for lower-income individuals and families who are in the market for homes. This federal agenda provides valuable support, and makes it potential for many more citizens to become eligible for home <b >loans</b>. Its benefits comprise reductions of the amounts needed for down-payments, potentially lower interest rates, and up-front funds which are provided to help cover windup costs</p>
comprehension "What Is An Fha Loan?"
<p></p><p> <a href="http://wirelessinternetreceiver.blogspot.com" rel="dofollow" title="Wireless Internet Receiver">Wireless Internet Receiver</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-66960728291560862032012-03-30T01:00:00.001-07:002012-03-30T01:00:05.729-07:00Soft market + Motivated wholesaler + 6% wholesaler contribution = 5.50% Fixed Rate 30 Year Mortgage Rate Buy<strong><p>An anomaly is defined as a deviation from the general order. At this very occasion in many real estate markets in many parts of the country a soft shop can lead to opportunities for many buyers.</p></strong>
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<p>With many 30 year fixed rate loans with an 80% Loan To Value (Ltv) the mortgage agenda guidelines will allow a seller to pay up to 6% of the buyer's closing cost. For example if there is a negotiated sales price of 0,000 with an 80% Ltv of 0,000. A seller offering would be allowed up to 6% on 0,000 mounts up to ,000. This would need to be a very motivated seller who needs to sell now. Unless a borrower tolerates total gouging on closing costs, this would be a heavy amount. However, a sum of ,000 to ,000 or less would cope the closing costs for this property, not together with prepaids such as assurance and tax escrows. On the surface, it would seem the inequity between ,000 less say ,000 would allow ,000 in supplementary costs. With today's rates, a one percent (1%) lender discount could buy the rate down from say 6.25% to a rate of 5.5%. Thus, 0,000 x 1% = ,000.00. A buyer borrower would need to be armed with the facts prior to negotiating a real estate covenant so that the seller can decide their bottom line at closing.</p>
<p>For the benefit of the buyer, if they are going to stay in the home for a long-term duration then there will be great benefits for the buyer to get a lower rate. Seeing at the primary and interest payment for 0,000 at 6.25%, 30-year term the payments then is ,462.87/month for primary and interest. With the same terms with a rate of 5.5% the payment is ,271.16/month for primary and interest. That would consequent in a monthly savings of (,462.87- ,271.16) is 1.71/month in savings versus a 6.25% interest rate.</p>
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<p>Example of payment at 6.25% shows ,462.87/month x 360 months = 6,633.20</p><p>Example of payment at 5.50% shows ,271.16/month x 360 months = 7,617.60</p><p>Life Time Mortgage Savings------------- $ 69,015.60</p><p>A borrower naturally being armed with the facts on a rate buy down can enter negotiations that may lend some long term benefits. Six months ago, seller help was just a dream. Today, it's a real observation of any purchase. Will it last forever? No, it's an anomaly. Temporary and fleeting. So...buyers need to get it while they can.</p><p>Where are these opportunities to be found? In any area look for vacant homes, on a lock box with some sort of sales pressure. If the lender allows for a 6% seller offering of the covenant price on say an 80% Loan To Value loan then why not go for it. Many of these potential properties can be searched and identified using a Realtor and the local Mls system. Builders who are setting on a huge catalogue of homes may be willing to grant major concessions in order to keep the price levels consistent until the home prices firm up. This would be a situation where a borrower would need to decide that the shop in that particular subdivision is at a "temporary" lull and not a trend. Otherwise it would be a case of throwing good money after bad. Working with a Realtor who knows the shop will go a long way in avoiding those kinds of pitfalls in maker subdivisions where resale homes are less than the new homes on the market. In that case, the maker is upside down on pricing. This will need to be avoided. What we are talking about here is temporary anomalies that a buyer will want to exploit, like now in the current market. The best evidence of a buyer's shop is where there are more homes for sale than ready buyers and there is a glut of homes on the shop just sitting. A forest of for sale signs.</p><p>With lower priced homes with say Fha and Va loans there be an opening where the seller in addition to paying all the closing cost and prepaids could pay say 2 points to buy the rate down on a "2-1 Buydown" Program. The beauty of this agenda allows a buyer to buy using a Fha mortgage with as dinky as a 3% investment and a Va mortgage with zero down. This is a great agenda of for Debt To income challenged borrowers who are just squeaking into the property.
<br>If the rate were 6.75% on a mortgage of 5,000 on a thirty-year basis the payment would regularly be ,329.63/month for primary and interest. If the taxes are 0/month, the hazard assurance is 0/month and Mortgage assurance superior (Mip) of .42/month then the total payment is ,935.05 per month with ,050 in installment and credit card debt for a total monthly debt load of ,985.05 together with the new housing expense. If the income were ,395/month the Debt To income (Dti) ratio would be nearby 47%. Let's assume, due to credit history and other factors, the underwriter is not willing to accept this level of Dti nor will any automated Underwriting theory accept it. An alternative would be to consider the 2-1 Buydown agenda with the first year interest rate of 6.75% - 2% = 4.75%, the second year would be 6.75%-1%= 5.75% with the third year and beyond 6.75%. With this agenda the borrower can qualify at the start rate of 4.75%. The primary and interest payment with this start rate is ,069.38/month or 0.25/month less at the fully loaded rate of 6.75%. The Dti than is 42.60% and the underwriter will sign off on that. The theory is that the borrowers will have two years to cut debts and growth their income and get their ratios in a more satisfactory position.</p><p>What's the point of all this. If the home is selling for 8,200 and the seller is willing to pay up to closing costs and prepaids which would be 8,200 x 6% = ,492 and the costs add up to say ,500, why not use the allowable seller offering to buy down the loan rate. The main benefit is to get the borrower's Dti in line and lower the payment in the early years all funded with the seller contribution. Va loans can go much higher and in positive areas, Fha loans can go a lot higher as well.</p><p>This anomaly will not last. It is a buyer's shop so why not maximize the buyer's benefits by applying part of the 6% seller's offering to buy the loan down and not leave any money at the closing table which can be utilized for the buyer's benefit. Negotiation is king.</p><p>Dale Rogers</p><p><a target="_new" rel="nofollow" href="http://www.sellerhelpsbuyer.com">http://www.sellerhelpsbuyer.com</a></p><p><a target="_new" rel="nofollow" href="http://www.brokencredit.com">http://www.brokencredit.com</a></p>
Soft market + Motivated wholesaler + 6% wholesaler contribution = 5.50% Fixed Rate 30 Year Mortgage Rate Buy
<p></p><p> <a href="http://belkin-g-wireless-router.blogspot.com" rel="dofollow" title="Belkin G Wireless Router">Belkin G Wireless Router</a> <a href="http://homemade-yogurt-recipes.blogspot.com" rel="dofollow" title="Homemade Yogurt Recipes">Homemade Yogurt Recipes</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-77891214723189905992012-03-24T09:16:00.001-07:002012-03-24T09:16:36.664-07:00Reo Financing is available<strong><p>Financing is ready to get borrowers into bank-owned properties. Even though there is not the wide range of mortgage products that were around a few years ago, prospective home-buyers can get loans through Fha, Va and of course, conventional means. Yes, if you are an independent undertaker of a package deal and cannot show a W-2 that you get from your employer, it's much more difficult to find somebody to finance you, but it can be done.</p></strong>
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<p>If you have the right man helping you and have steady income, pay your bills in a timely manner, and if your debt ratio is reasonable, you can get a loan to buy a house. The areas that gift more of a challenge are the higher priced areas where Va and Fha financing is topped out. This would at the 0,000 level and higher. Jumbo loans are still difficult to locate. But the other markets are still very active.</p>
<p>Opportunities at the local level still exist to buy homes. Rehab loans enable borrowers to take a home that needs work and do their own repairs. Fha 203(k) loans permit a buyer to buy a house and originate an escrow with the money they need to fix it up the way they want. This is very engaging because you can get a great deal, have a house that is nice and it's fixed up the way you want it, financed, all in one package.</p>
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<p>Many are waiting for the foreclosure pipeline to open while the second and third quarters of 2010. Some areas in the United States still need to see further value decline before foreclosures go through the pipeline and the unabridged housing store picks up, putting more Reo properties back on the market. At that point, prices for properties all over the nation will get back in the situation where they are increasing, not at the levels created in the bubble, but at customary levels where you have a 2%, 3% and 4% appreciation per year.</p><p>One certain thing that has come out of the real estate store crash is that prices have come back down to where population who could not afford to buy three years ago can now afford to buy a home. They are now looking at an affordable price range for the type and size of house they need. These population are still curious in buying and want to buy. Today, there are houses that have lost 50% or more in value and the commerce has never before seen such dramatic division drops.</p><p>Another plus for home buyers is that interest rates continue to remain low, nothing like back in the early 1980's where they were as high as 19%. For most, it was very difficult back then to sell a home (unless they used jobber financing which was plentiful) because the rates were so high and nobody could afford financing. Many products that we are well-known with today, originated back then because no one could afford to get a 19% fixed-rate loan.</p><p>The mortgage commerce changes every year and no matter how long you have been in it, there are things that are new and quite exciting, especially the technology. More and more population are shopping for their homes on the internet.</p><p>It may take 5, 10, 15 years or even longer for the prices to rebound to cheap store levels and now is the perfect time for consumers to begin looking. For those looking for a good home loan, they should educate themselves to work with an agent and understand what the store is so they can get a good buy on a asset and not waste their time throwing out ridiculous low-ball offers that end up not getting suitable while somebody else scoops up the home they wanted by somebody who came in with a more cheap offer.</p>
Reo Financing is available
<p></p><p> <a href="http://fulham-goals-clips.blogspot.com" rel="dofollow" title="Fulham FC News Blog">Fulham FC News Blog</a> <a href="http://we-answers.blogspot.com" rel="dofollow" title="You Questions and We Answer">You Questions and We Answer</a> <a href="http://basic-stamp-robot.blogspot.com" rel="dofollow" title="Basic Stamp Robot">Basic Stamp Robot</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-44476227252265846552012-03-18T17:31:00.001-07:002012-03-18T17:31:54.103-07:00Home Mortgages - What To Do When The Bank Says No?<strong><p>As the recent home mortgage and real estate accident continues, more and more citizen are looking that they do not qualify for mortgages.</p></strong>
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<p>Reacting to store conditions, lenders are addition their requirements and making it more difficult for citizen to borrow mortgages.</p>
<p>As a result, many people, some for the first time, are being turned down for loans. But that preliminary rejection should not stop a would-be borrower from pursing a mortgage loan.</p>
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<p>The rule is: Never Give Up Right Away</p><p>Traditionally, a estimate of factors are thought about in qualifying citizen for mortgage loans. They consist of your job history, proving your income, how you have paid your bills over a duration of time, the estimate of money being put down to buy a home, and the estimate of savings one has in the bank. The house also has to appraise at a obvious value corresponding to the estimate of the loan.</p><p>Commonly acceptable guidelines also consist of an examination of either the monthly cost is minute more than 1/3 of your monthly gross earnings and either your monthly housing costs and other debts total no more than 36-45% of your monthly gross income.</p><p>When a mortgage broker begins the process of processing the loan, he collects this facts on a form known as in the manufactures as a Hud 1003, which the borrower signs both at the starting of the process and when the loan closes. This 1003 provides, in a nutshell, all of the borrower's detailed financial information, which is then reviewed by lenders to settle their eligibility for a mortgage.</p><p>While you may initially be disqualified from getting a loan because you do not qualify under the former guidelines, there is no intuit to give up. You still likely can qualify for a mortgage by adjusting or tweaking obvious factors relating to your loan. Some adjustments can be made in the following situations:</p><p>You are required to deposit 20% down - because of bad credit, many borrowers are required to come up with this estimate of a deposit-the riposte is to look for a cheaper home that allows a borrower to fulfill this requirement. In this store a distributor may be willing to lend you part of the money that the bank will not - This may be an option.</p><p>You have bad prestige - you can achieve repairing your prestige by hiring a prestige fix business to help negotiate and dispute items in your prestige report.</p><p>Lack of earnings - request parents and other relatives to cosign the loan brings their good prestige and cost history to the table and often qualifies borrowers who can't meet the criteria themselves because they don't make adequate money.</p><p>No Down cost Money - Parents and house members selling their homes to a borrower with no down cost can sometimes make "gifts of equity" that equal a required estimate of down payment. Parents and house members can also make outright gifts of money specifically to meet down cost requirements. If the borrower owns other properties, he or she may also obtain equity from such asset to apply to the new purchase. other alternative is to enter an "equity-sharing contract" where a third party will make an speculation of equity into the property.</p><p>Terrible prestige scores - there are alternative lending programs sponsored by Fha, sub-prime mortgage companies (yes, they still exist), or hard equity lenders that will lend traditionally unqualified borrowers mortgages-at higher interest rates and higher costs.</p><p>Disclosing all assets - many times, borrowers fail to tell their brokers that they have assets such as Iras, cash value in life guarnatee policies, or child hold payments. Other times, earnings from second jobs are not disclosed. These incomes and assets can be used to settle a borrower's capability to qualify them for a loan.</p><p>Debt too high - many times, a borrower can rearrange their debt by transferring balances on prestige cards or paying down high prestige card bills to help meet mortgage lending standards. This helps fix debt ratios used to settle eligibility for mortgages.</p><p>Even in this difficult lending market, mortgages are still being written and citizen are still buying homes and refinancing. While it is not as easy as it was a few years ago to borrow for a home, a good mortgage broker can still work hard to assist his clients obtain a mortgage.</p><p>Using the right mortgage professional, full disclosure of facts on the 1003, and sometimes a minute creativity and aid from others, allows prospective borrowers that are initially turned down to get a loan on the second, or even third try.</p>
Home Mortgages - What To Do When The Bank Says No?
<p></p><p> <a href="http://diy-air-conditioner.blogspot.com" rel="dofollow" title="DIY Air Conditioner">DIY Air Conditioner</a> <a href="http://valentine-gift-ideas.blogspot.com" rel="dofollow" title="Valentines Gift Ideas">Valentines Gift Ideas</a> <a href="http://dc-drives-basics.blogspot.com" rel="dofollow" title="DC Drives Basics">DC Drives Basics</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-92013951195884722032012-03-13T01:45:00.001-07:002012-03-13T01:45:05.204-07:00Refinance Mortgages - Tips For finding the Best Home Mortgage Rate<strong><p>There are many reasons to refinance mortgages. Borrowers often refinance when interest rates drop. As small as one-quarter percent decrease can save homeowner's thousands of dollars over time. Refinancing provides cash back which can be used to pay off credit card debt, pupil loans, home improvements, financial investments or vacation.</p></strong>
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<p>Borrowers who refinance mortgages pay off their original home loan by taking out a new loan. Homeowners can obtain refinancing straight through their current lender or shop around for the best home mortgage rates.</p>
<p>Borrowers with Fico scores of 750 or higher have the advantage of obtaining financing from nearly any lending institution. Borrowers with less than perfect credit may find it bright to refinance straight through approved lenders.</p>
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<p>Qualifying factors for home loan refinancing include employment history, financial potential to repay the home loan, appraised property value, and debt-to-income ratio.</p><p>Think about other types of lending institutions when comparison shopping for mortgage companies. credit unions and thrift institutions sometimes provide lower interest rates and are more open to refinancing mortgages for population with bad credit.</p><p>Individuals who don't have time to shop around for best refinance rates might want to use the services of a mortgage broker. It is leading to work with brokers well-established within the lending industry, as they are speedily able to search favorable lenders.</p><p>Mortgage brokers are required to be licensed in each state they escort business. Clients must sign a covenant authorizing brokers to act as their agent. Mortgage brokerage fees are charged in expanding to loan application, origination, and end village fees.</p><p>It is a good idea to shop brokers and correlate mortgage refinancing fees. The best source for locating licensed brokers in the United States is the National association of Mortgage Brokers at namb.org.</p><p>Homeowners should theorize all costs connected with refinanced mortgages. Most mortgage notes and trust deeds include a prepayment clause and correlate penalties when loans are paid off early. In most cases, end costs will be assessed on the new loan.</p><p>The introductory cost of mortgage refinancing can be recovered over time straight through reduced monthly payments. While village costs can be ,000 or more, refinancing could save homeowners ,000 over the term of the note.</p><p>Individuals who need help comprehension the advantages and disadvantages of mortgage refinance should consult with lenders, brokers, credit counselors or housing counselors. The agency of Housing and Urban development (Hud) provides a nationwide list of housing counselors at hud.gov.</p><p>Homeowners with Fha loans might qualify for the Streamline Refinance program. Borrowers who qualify under the Federal Housing administration guidelines can refinance mortgages without undergoing the credit qualification process.</p>
Refinance Mortgages - Tips For finding the Best Home Mortgage Rate
<p></p><p> <a href="http://usbcablesandconnectors.blogspot.com" rel="dofollow" title="USB Cables And Connectors">USB Cables And Connectors</a> <a href="http://liverpoolclipz.blogspot.com" rel="dofollow" title="Liverpool FC News Blog">Liverpool FC News Blog</a> <a href="http://htcdesireuscellular.blogspot.com" rel="dofollow" title="HTC Desire US Cellular">HTC Desire US Cellular</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-39241147555204378372012-03-07T09:00:00.001-08:002012-03-07T09:00:06.930-08:00Knock Knock - Who's There? Foreclosure Homes!<strong><p>The title may be a bad joke, but there is no joke about the number of Foreclosed Homes on the market and a Tsunami of more to come looming on the horizon. No minorities here, as Ghettos to Gated Communities have been littered by abandon homes for sale or just left for broke. The worst part is that until the bulk of Real Estate Owned (Reo) Foreclosures are bought some current Homeowners are spending their time upside down in a property they can't sell at the moment.</p></strong>
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<p>So when and how do we move forward? The good news is that it is already happening. The new statistics on Home Sales is up, President Obama has made legal grounds for banks to cooperate with Homeowners, and Large Tax incentive through 2009 are taking affect. I teach my clients that it's of course just Economics 101, furnish must equal the interrogate for Homes and both need to be coupled with strong buying power for the public.</p>
<p>The furnish of Homes has never been as vast in years. Houses have dipped to prices that make buying more cheap than renting and the majority of my clients are finally able to buy that home.</p>
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<p>Some of the factors that are addition buying power and interrogate are a host of Government backed Loan Products from Fha, Cal-Vet, and Gnma. They offer programs that fit the working class by allowing for higher debt to earnings ratio's and less that 20% down for home purchases in most cases.</p><p>Obama stylish tax bill also allows First Time Home Buyers to obtain an ,000 tax credit that can be added on top of the current tax refund. In some cases, that can be 10% of your homes value given back to you in cold hard cash. That of course has First Time Home Buyers attention.</p><p>One thing is certain; change is in the air. And my grandfather all the time taught me that "change creates opportunity." So to survive I have come to be somewhat of an Ambassador of change in my market of Northern California. Researching, teaching and applying everything inherent to keep Home Owners in their homes, and fabricate buying power for the midpoint hard working American to buy new homes. This must happen first so would be Homeowners can start buying the glut of Homes for sale and let current homeowners sell their properties for a decent price in the near future.</p>
Knock Knock - Who's There? Foreclosure Homes!
<p></p><p> <a href="http://wirelessnetworkbridge.blogspot.com" rel="dofollow" title="Wireless Network Bridge">Wireless Network Bridge</a> <a href="http://forex-handel-online.blogspot.com" rel="dofollow" title="Forex Handel Devisenhand">Forex Handel Devisenhand</a> <a href="http://usbcablesandconnectors.blogspot.com" rel="dofollow" title="USB Cables And Connectors">USB Cables And Connectors</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-35012783207401124492012-03-01T17:15:00.001-08:002012-03-01T17:15:06.022-08:0095 Mortgages for Home Buying<strong><p>95 Mortgages is another name for loans than need 5% down payment. Thus you are financing 95% of the purchase price. These loans are now the becoming the most sought after loans for buyers seeking a low down payment when purchasing a home.</p></strong>
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<p>If you have spoken to any lenders you may have heard the term Ltv. Ltv is the loan-to-value ratio. The value is referring to the purchase price of the home. 95 mortgages would have a 95% Ltv. 95 mortgages are useful to first time buyers. These buyers ordinarily have recently graduated from college and are just beginning their first job. Thus they have little savings and are looking for cheap home loans. The low down payment of 95 mortgages is a great option for these buyers to be able to get into their first home.</p>
<p>During the real estate boom of the early 2000s lending criteria was very loose. There were numerous lending associates gift zero down payment or 100% home loan programs. In fact there were loan programs that allowed buyers to receive money back to closing. Landlords often were losing prospective tenants since many people found it required more money upfront to rent an apartment than to purchase a home.</p>
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<p>Now Fha financing will allow buyers to purchase home with less down payment than the 95 mortgages. Typically with Fha financing you will only need to put 3.5% percent down. If your reputation is less than perfect than Fha financing would be the best occasion to get approved for a loan.</p><p>For first time buyers with good reputation but little funds 95 mortgages are the best of the cheap home loans.</p>
95 Mortgages for Home Buying
<p></p><p> <a href="http://pspusbcable.blogspot.com" rel="dofollow" title="PSP USB Cable">PSP USB Cable</a> <a href="http://heating-and-cooling-services.blogspot.com" rel="dofollow" title="Heating and Cooling Services">Heating and Cooling Services</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-37849285137580916552012-02-25T01:30:00.001-08:002012-02-25T01:30:06.104-08:00Facts About an Fha Home Loan Refinance<strong><p>Just as a quarterly Fha loan is easy to get, an Fha home loan refinance is also an easy process. For homeowners that have an existing Fha loan, the choice to refinance is available. The truth is that refinancing an Fha loan offers the homeowner with many great benefits.</p></strong>
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<p>For one thing, the homeowner could pick an Fha home loan refinance as a means of cashing out as much as 85% of the property's value. In this case, the homeowner would have the opening to integrate bills, as well as a first and second mortgage. Additionally, monthly payments are more affordable and the man now has a singular loan to manage. If you elect to integrate other loans when you refinance, your monthly payment may end up higher, but you are paying off more than one debt at a time in this capacity. This choice is also helpful for manufacture it easier to qualify for reputation because it doesn't appear that you have a high debt to earnings ratio and typically, closing costs are low since they are regulated by the government.</p>
<p>Another top choice linked with an Fha home loan refinance is taking up to 96.5% of the home's value. In this case, the man would have the opening to integrate a first and second mortgage but for this type of refinance loan, the man would not need any reputation or would need a score at least 620. For this choice pertaining to an Fha home loan refinance, if the man had a bankruptcy, he or she would qualify as long as it was two years old. Even man with a foreclosure would qualify as long as it is reported at least three years old or more. An Fha home loan refinance can make life much easier with those that have tiny to no reputation or those that are finding to enhance the appearance of their reputation after a bankruptcy or foreclosure.</p>
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<p>One of the most favorite types of Fha home loan refinance is known as the streamline loan. With this, the borrower has a no cost interest rate reduction, no qualification required for credit, zero cost options for refinancing, best reputation qualification, and the man could switch to a shorter or longer loan term or go to an Frm from an Arm with no hassle.</p><p>To qualify for a streamlined refinance, the loan must be in good standing and by refinancing your monthly interest payments should come to be lower as well. The goal of this Fha home loan refinances to reduce your monthly expenses by lowering your monthly payment. However, this refinance choice does not allow you to receive cash back. This is a good choice for habitancy that have good reputation and do not have any necessary added debt. By choosing this option, the homeowner is able to save a tiny extra money each month.</p><p>Regardless of your guess for an Fha home loan refinance, you will find that there are assorted options ready to you. By refinancing your home, you may be able to integrate debt and pay it off more quickly, or you may save yourself extra cash each month that you can put to use elsewhere.</p>
Facts About an Fha Home Loan Refinance
<p></p><p> <a href="http://cricketwirelesscellphones.blogspot.com" rel="dofollow" title="Cricket Wireless Cell Phones">Cricket Wireless Cell Phones</a> <a href="http://electric-motor-repair.blogspot.com" rel="dofollow" title="Electric Motor Repair">Electric Motor Repair</a> <a href="http://best-way-to-kill-ants.blogspot.com" rel="dofollow" title="Best Way to Kill Ants">Best Way to Kill Ants</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-87226062374485070022012-02-19T09:45:00.001-08:002012-02-19T09:45:06.322-08:00What is a Mortgage Pre-Qualification?<strong><p>So if you have been shopping for a home, chances are you have submitted facts that has been used in "pre-qualifying" you for a home loan. Pre-qualification (also sometimes called a pre approval) is a term used in mortgage loan circles meaning that a loan officer has taken some facts from you, the inherent borrower, and made a tentative decision, but not verified much of, if any of it.</p></strong>
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<p>Typically in a pre-qualification, the inherent borrower is asked for their collective protection number, their employment, earnings and asset facts and the amount of current monthly debt. In addition the inherent borrower is asked about their normal reputation worthiness. This facts is then swiftly worked up and contrasted against business standards for qualifying reputation scores and debt to earnings ratios.</p>
<p>Based on this quick work up the inherent borrower will be told that they pre-qualify up to a confident mortgage loan amount. For example, if the borrower makes ,000 / month this is then calculated to an industry-standard ratio of debt to earnings (which can vary depending upon mortgage loan program), for example 36%. So if a borrower makes 00/month they would be pre-qualified at a total debt of 80 (this includes any monthly payments, together with car & reputation card min. Amount; along with the proposed cost of principal, interest, taxes and insurance).</p>
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<p>Dependent upon the loan schedule you choose, other factors that may be included in determining your pre-qualification status...monthly residual earnings (that earnings remaining after paying all monthly obligations and family support), middle Fico score either or not you are a first time home buyer, if the refinance has a "cash-out" amount requested, either or not you have had a bankruptcy or foreclosure, how many times you have been late on a mortgage cost and how recently, your earnings type and the way you will verify your earnings (W-2, tax returns, bank statements, etc). Additionally, asset type, asset use, loan-to-value ratio (Ltv), purpose of loan all play into the over all potential to qualify for a mortgage loan.</p><p>If you are preparing to shop for a home and will be seeking a mortgage loan, it would be a good idea to gather the following and allow your mortgage lender to delineate them thoroughly.</p><p>If Employed:</p><p>Most up-to-date Two Years of W-2's <br>Most up-to-date Two Years of Federal Tax returns together with all schedules<br>Most up-to-date pay stubs surface 30 days<br>Most up-to-date monthly bank checking and savings statements (include all pages/even blank pages)<br>Most up-to-date monthly investment account statement (include all pages)<br>Most up-to-date 401K/ Ira/ Cd statement (include all pages)</p><p>If Self Employed</p><p>Most up-to-date Two Years of Personal Federal Tax returns together with all schedules<br>Most up-to-date Two Years of firm Federal Tax returns together with all schedules<br>Most up-to-date 60 Days bank checking and savings statements (include all pages/even blank pages)<br>Most up-to-date 60 Days investment account statement (include all pages)<br>Most up-to-date 401K/ Ira/ Cd statement (include all pages) <br>Year to Date profit and Loss Statement</p><p>If You Own Rental Properties</p><p>Rental Lease for a minimum of 12 months if you will be renting your current property<br>Copy of most up-to-date asset tax statement<br>Copy of most up-to-date homeowner's guarnatee notification page<br>Copy of most up-to-date Hoa statement if applicable.</p><p>Do's and Don'Ts while your home shopping and home purchase periods.</p><p>Do save money<br>Do send payments on time<br>Do pay cash for common items<br>Do keep reputation balances under 50% of reputation limit<br>Do keep reputation card accounts open even if equilibrium is paid off or zero<br>Do keep down cost funds in one account with minimal activity</p><p>Do Not open new reputation accounts<br>Do Not take out new buyer loans or other credit<br>Do Not pay off collections (without consulting your Loan Counselor)<br>Do Not buy a new car, truck or motor home (wait until after the close of escrow)<br>Do Not close accounts with a zero balance<br>Do Not pay down reputation balances or pay off reputation accounts (without consulting your Loan Counselor)</p><p>For questions or comments please email <a href="mailto:hugh@themortgagecity.com">hugh@themortgagecity.com</a></p>
What is a Mortgage Pre-Qualification?
<p></p><p> <a href="http://usbcablemaletomale.blogspot.com" rel="dofollow" title="USB Cable Male To Male">USB Cable Male To Male</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-88744779881910890662012-02-13T18:00:00.001-08:002012-02-13T18:00:41.031-08:00The Most expensive feature in a New Home? the Mortgage<strong><p>Without a doubt, the word most related with being a home buyer is the "M" word:</p></strong>
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<p>Mortgage. Basically, it's a loan from a financial convention to the home buyer-with a pledge of asset to a creditor as protection for repayment. Latin scholars will point out that the root of the word, "mort," is French for "dead." That's because the idea is to kill the loan over time by repaying the money borrowed.</p>
<p>The most base types of mortgages? Va. Fha. And Conventional.</p>
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<p>All mortgage types are either conventional loans-or they are financial instruments backed by the U.S. Government. The government programs are either Fha (Federal Housing Administration) or Va (Veterans Administration). all else can be described as a conventional mortgage.</p><p>The Fha and the Va offer a collection of mortgage choices.</p><p>These contain 30-and-15-year fixed-rate mortgages, as well as adjustable-rate (Arms) mortgages. All of them are insured or guaranteed by the government agencies that administer them. They are well known for their involving low-or-no-down-payment terms. However, Va mortgages are not ready to everybody; they are restricted to individuals who are great by military aid or other entitlements. Fha loans, on the other hand, are ready to all great home buyers.</p><p>A Va loan offers some definite advantages.</p><p>* No down payment is required in most cases.</p><p>* The loan maximum may be up to 100% of the Va-established uncostly value of the property.</p><p>* Flexibility of negotiating interest rates with the lender.</p><p>* No monthly mortgage guarnatee prime to pay.</p><p>* Limitation on buyer's windup costs.</p><p>* An assumable mortgage, field to Va approval of the assumer's credit.</p><p>There's more to it, of course. So go to <a target="_new" rel="nofollow" href="http://www.valoans.com">http://www.valoans.com</a> if you would like detailed data about Va loans.</p><p>An Fha loan is the mortgage of selection for most U.S. Home buyers.</p><p>* An Fha loan is for owner-occupied homes only-meaning you intend to live on the property.</p><p>* There is no maximum sales price, but there's a maximum loan amount.</p><p>* Any home buyer may use an Fha loan-as long as they do not currently have other Fha loan in their name. (There is a base mis-perception that an Fha loan is for first-time buyers only.)</p><p>* An Fha loan normally requires a minimum down payment and windup costs, easier credit-qualifying guidelines, easier debt ratio, and job requirement guidelines.</p><p>Go to <a target="_new" rel="nofollow" href="http://www.fha-home-loans.com">http://www.fha-home-loans.com</a> for more detailed data about Fha loans.</p><p>There's a huge collection of conventional loans for prime and non-prime borrowers.</p><p>* conventional mortgages allow simple interest loans (also known as interest-only loans). This is the fastest-growing segment of the mortgage industry.</p><p>* A conventional loan requires a acceptable credit review. Your credit score is very important.</p><p>* If a home buyer is looking at a Va or Fha loan, it's wise to see if there are any competing products in the conventional loan market. It's sometimes in the best interest of the home buyer to go the conventional loan route.</p><p>Be smart: don't take the first mortgage you see.</p><p>Shop around. Ask your Realtor for a list of mortgage brokers or bankers who can help you make an informed decision. There are a lot of options out there; look for the one that fits your own private financial situation. You're de facto going to be living with your mortgage for years. Make sure you're compatible with it.</p>
The Most expensive feature in a New Home? the Mortgage
<p></p><p> <a href="http://hdmi-cable-24k.blogspot.com" rel="dofollow" title="HDMI Cable 24k">HDMI Cable 24k</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-6809744506998755292012-02-08T02:15:00.001-08:002012-02-08T02:15:30.622-08:00Fha Lending schedule Kicks Butt For Home Buyers and Investors!<strong><p>Although the new store for housing in the Bay Area has been hurt in some ways, there is room for optimism as markets shift to add value and offer deals to help Americans buy homes. Fha is a schedule that offers many great benefits and affordable interest rates and, quite frankly, our news media probably has not gone on report about how this financing schedule is helping population in great numbers today. I have been working with clients recently in Antioch showing homes priced from ,000 to 9,000. These are newer, gorgeous 3 bedroom, 2 bathroom houses in great neighborhoods.</p></strong>
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<p>I am excited to tell the Bay Area home buyers about the new Fha (Federal Housing Administration) financing. For today's buyer it means that in spite of all that is going on in the real estate store this loan is a very straightforward, superb and easy to get loan program. This loan will help today's buyer get into a home and keep it. So, no matter what the media says about getting loans being a challenge ... I say it just isn't so!</p>
<p>Let me delve right in and share some of the benefits with you.</p>
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<p>First of all ... Down payment for this loan is easy. Fha requires a 3.5% down payment. This can be a gift from a family member, too. No earnings limits!</p><p>The wholesaler can prestige you 6% of the purchase price towards your conclusion costs.</p><p>The introductory mortgage guarnatee premium (Mmi or Pmi) can be financed in the loan, then you pay towards the next year monthly.</p><p>The Fico scores for this loan can be as low as 580 and I have heard several lenders say that they have been able to do loans with a 560 prestige score (There were offsetting circumstances, like very little debt).</p><p>In the Bay Area (check with the lender for your area) you can go as high as a 5,000 purchase price if you qualify for a monthly payment.</p><p>The ratio of earnings to debt (money arrival in to money going out) is flexible based on the lender's guidelines and your personel income, debt and prestige history.</p><p>Example:</p><p>0,000 purchase price</p><p>,500 down payment</p><p>3,500 loan amount</p><p>8,000 loan amount if you finance Mmi (This is an example, as Mmi rates vary)</p><p>,000 wholesaler prestige towards conclusion costs</p><p>With this scenario you can buy with Very little or No Money out of your pocket if you are able to secure a gift for the down payment.</p><p>Rates Are Going Down Again!</p><p>I have seen interest rates at 5.75 percent! Interest rates can vary based on lenders, points (money you pay at conclusion to lower the interest rate) and other factors.</p><p>Example of the total monthly payment of principal, interest, taxes, fire guarnatee and Mmi based on the above scenario with an interest rate of 5.75 % , and a 30-year, fixed rate loan.</p><p>Principal and Interest - ,155.47</p><p>Property Tax - 208.33</p><p>Fire guarnatee - 58.33</p><p>Mmi guarnatee - 100.00</p><p>Total per month - ,522.13</p><p>Interest And Tax'S Are Tax Deductible!</p><p>If that payment concerns you, let's go one step further. When we buy a house it now becomes a tax deduction, and one of the largest that you can use most times! If you are in a 28% tax bracket (Which you probably are if you qualify for this loan. However, your own tax accountant will need to give you the exact amount of the deduction. This explanation is for the law of deductible interest and productive after-taxes house payment, and is not to be misconstrued as tax advice), you can deduct approximately 0 per month or ,200 per year.</p><p>Total payment per month ,522.13</p><p>Tax deduction: 350.00</p><p>Payment after tax 1,172.13</p><p>Now you can change your W-2 to reflect the tax deduction and start bringing that money home monthly. So the money that you are currently paying without buying a home, you now use to help you make the payment (or go to the movies) instead of paying it to the Irs (we call it "urse" at our house!!). Then, at the end of the year, you break even with the Irs. You neither owe money to the Irs nor get money back. You break even with your tax debt.</p><p>The attractiveness of the deduction is that you can go to your tax accountant after you have been pre-approved. Tell him you are going to buy a home at 0,000 and you want him to frame out the deduction for you. If you feel Ok with the ,522.13 payment, then you just get to get more money back from the Irs at the end of the year.</p><p>This is a historical time to buy homes! Many of you reading this may have conception you would never be able to buy a home! Don't let this time pass you by!</p>
Fha Lending schedule Kicks Butt For Home Buyers and Investors!
<p></p><p> <a href="http://cricketwirelesscellphones.blogspot.com" rel="dofollow" title="Cricket Wireless Cell Phones">Cricket Wireless Cell Phones</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-81520094978703431892012-02-02T10:31:00.001-08:002012-02-02T10:31:51.174-08:00Can The Bush supervision Mortgage Help Plan Save Your Home<strong><p>The housing market in America is currently is sad shape. With foreclosures at an all time high and property values dropping many people are at risk of losing their homes because they cannot refinance. Combined with the increased adjustable mortgage payments the tone has been set for large problems that will trickle straight through the entire economy. I order to help stop this question from getting worse the bush supervision mortgage help plan was developed.</p></strong>
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<p><i><b>How Can This Can Help You</b></i></p>
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<p>The plan advanced by the bush supervision to help homeowners refinance their troubled mortgages is called the Fha collect Initiative. This initiative will let homeowners refinance up to 97.75% of their homes current value. It will also allow borrowers with numerous 30 day late payments to qualify for refinancing as well. The catch to this though is that borrowers must have paid the mortgage on time and the mortgage rates can only have started when the mortgage rate adjusted upwards.</p>
<p>The Fha collect plan differs from customary Fha refinancing plans because it allows people to refinance their loans when their home is worth less then they owe. This is done by negotiating with the current lender and whether having them agree to forgive the remaining equilibrium or hold the contrast in a second mortgage position. With many lenders bottom lines being affected by the rise in foreclosures many are eager to do what ever it takes to keep people in their homes and will work with the Fha collect program.</p><p>However this schedule is not for people who cannot currently afford their homes because they were purchased with stated or no documentation loans and their incomes were inflated. You will still have to qualify within the acceptable Fha guidelines for debt to income ratios, these are ordinarily no higher then 45%.</p><p>The Bush supervision mortgage help plan can keep you in your home and help you get your financial life back on track. However not everyone will qualify so your first step is seeing a mortgage expert that can help you with this program.</p>
Can The Bush supervision Mortgage Help Plan Save Your Home
<p></p><p> <a href="http://printerusbcables.blogspot.com" rel="dofollow" title="Printer USB Cables">Printer USB Cables</a> <a href="http://best-ant-killer.blogspot.com" rel="dofollow" title="Best Ant Killer">Best Ant Killer</a> </p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-73128941526099104722012-01-13T22:45:00.001-08:002012-01-13T22:45:07.015-08:00Investing In A Developing Economy - A Possible Solution To Global Financial Crisis<strong><p>INTRODUCTION</p></strong>
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<p>If there were security problems in Nigeria, no businessman would go to the country to explore opportunities, companies like Celtel, MTN, Etisalat, would not have ventured into security risk country to do business. Those who spread rumour about security and corruption problems in Nigeria are saying so to stop others from making money in the country. Figures don't lie. They are the biggest testimonies for how conducive Nigeria's environment for business and opportunities are. If you want to do business in Africa and record good returns on your investment, I welcome you to come to Nigeria. The political environment in Africa, particularly in Nigeria is tremendous.</p>
<h2>Fha Loan To Value Ratio</h2>
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<p>Dr. Hamadoun Toure,
<br>Secretary General,
<br>International Telecommunications Union,
<br>Cited in the Punch Newspaper, May 13, 2008)</p>
<p>What is happening currently with the Nigerian financial system is far from being affected in any way by the global credit crisis. At global level currently, the banks are under-capitalised, but Nigerian banks are over-capitalised. And I do not think this is a problem at all. I believe that Nigerian banks are under pressure from other economies within Africa continent that are affected by the credit challenges.</p><p>- Gordon Smith,
<br>Head of Research, Africa and the Middle East, International Consilium,
<br>(Reported in the Punch Newspaper, June 30th, 2008).</p><p>The foregoing statements aptly connote two understandings of the state of Nigerian economy. These understandings show that, the economy is one of the fastest growing economies in Africa and in the world. Although Nigeria has had hash economic history, it has undergone and still undergoing economic reforms, which are aimed at making Nigeria the Africa's financial hub and one of the twenty largest economies in the world by the year 2020. Needless to say that the country has experienced political instability, corruption, and poor macroeconomic management in the past, this was responsible for unpleasant and harsh economic situation. The government relentless efforts to reposition the economy have translated into a remarkable economic growth and development. Several mechanisms have been put in place to sustain this growth and development, capable of balancing the interests of stakeholders. Perhaps, this view must have influenced Gordon Smith submission. He described Nigeria as the most dynamic market in Africa, which is under severe pressure from some countries in Africa to serve as a cushion against the effects of global turbulence. He also noted that some countries like Ghana, Malawi, Mauritius, among others were depending on her at the moment due to global risk exposure and that the country's economy, led by the consolidated banks, was far from being affected by the global credit crisis currently rocking the world's financial giants. He stressed further that foreign investors, who will be patient enough to weigh the Nigerian financial system on the credit risk perspective relative to global events, will find the nation's financial sector more interesting to invest and raise capital from.</p><p>Faced with numerous challenges, Nigerian government is determined to strengthen, diversify and make the economy attractive and investment-friendly to both local and foreign investors. The government has adopted total liberalization and globalization as the economic policy, instituted privatization and commercialization programmes of public enterprises, provided total security for business and people, extended invitation to domestic and foreign investors, abolished laws inhibiting competition, embraced and fine-tuned policies to ensure quick realization of growth and development of all sectors of the economy. The effort is already paying off as Nigeria is now the focus for foreign investment thereby increased exponentially Foreign Direct Investment (FDI). Scores of economic missions and delegations from developed and developing countries have visited Nigeria, thus accelerating the growth of the economy at a very fast rate.</p><p>It becomes pertinent to direct the course of this discussion to embrace the second understanding of the above statements made by Hamadoun Toure and Gordon Smith. However, it becomes more pertinent to enumerate the inherent investment opportunities in Nigerian economy before discussing the issue of security as raised by Toure.</p><p>INVESTMENT OPPORTUNITIES AND SECURITY ISSUE IN NIGERIA</p><p>No doubt, Nigeria is an investment haven with countless and lucrative investment opportunities including oil and gas, solid mineral, agriculture, tourism, telecommunication, power and steel, transport, trade processing zone, financial sector, real estate / property, manufacturing, sport and entertainment, and fashion industry. Investors have a wide range of opportunities to choose from. It is important to note that the rate of growth of investment is fantastic and exponential in any of these sectors. Investors are at advantage of presenting their products and services to already-made market taking advantage of the population of over 140 million.</p><p>In telecommunication, statistics reveals that mobile phone users in Africa were about 280 million, overtaking United States and Canada with their 277 million users in the opening quarter of 2008. With 70 million connections in 2007, the Continent became the fastest growing region in the world, representing a growth of 38 per cent, ahead of the Middle-East (33 per cent) and the Asia-Pacific (29 per cent).It was also revealed that the fastest growing markets are located in northern and western Africa, representing altogether 63 per cent of the total connections in the region. The record showed that Nigeria, Zambia, Tanzania, The Democratic Republic of Congo, Kenya, Algeria, Tunisia, Ghana and South Africa are highly competitive markets in the Region. The record further contends that two-third of Africa's telephony are in their early phase of development, with penetration rates below 30 per cent at the end of 2007.In percentage terms, it was noted that Africa is the fastest growing market in the world, but also the second smallest in terms of connections after Middle-East.</p><p>As Nigeria accounts for 57 per cent of the West Africa mobile phones, the country is acknowledged as the leading and the fastest growing telecom market in Africa. With mobile phone users at 44,932,181 and 734,444 for GSM and mobile CDMA respectively, her contributions to West Africa and Africa's telecommunication growth can not be overemphasized. While the overall economic growth rate stands at 7% per annum, the mobile telephony is about 35-50%. Assuming that each of these connections was busy for a minute in a day, the country telecoms market has the capacity to generate over USD 16 million per day (USD16, 666,667) and close to USD 6 billion per year (USD 5,833,333,300). This is why telecom companies such as Visafone and Etisalat quickly joined the likes of MTN, Globacom, Celtel and other telecoms service providers in exploiting opportunities in the country.</p><p>Early this year, one of the main GSM service providers with a subscriber base of over 15 million announced a profit after taxation of USD650 million (78 billion naira) for the year 2007.Putting all these together, one can easily understand Toure's submission describing Nigerian telecoms market as the best investment destination in Africa.</p><p>Recognizing the fact that the Nigeria telecoms industry is enormous and there is need to further exploit the sector to its fullest, the Nigeria Communication Commission (NCC) and the Ministry of State for Information and Communications have made their positions clear by extending invitation to global investors for active participation in the sector as they are willing to grant pioneer status and license for prospective applicants for various undertaking such as Fixed telephony, Mobile telephony, Fixed satellite (VSAT),Paging, Payphone, Internet and other <b >value</b> added services.</p><p>With the above facts, one can safely conclude that Nigerian telecom sector offers fantastic and lucrative investment opportunities to global investors. And putting into consideration 40% GSM market growth rate in the first quarter of this year (2008), there is potential for high return on investment in this sector.</p><p>Agriculture, the dominant sector of Nigeria economy, engages about 70 per cent of the population directly and provides nearly 88 percent of non-oil foreign exchange earnings. It contributes about 41 per cent of the GDP of the country. The sector recorded an overall growth rate average of 7 per cent in the last three years, a major improvement from under 3 per cent in the 90's.</p><p>Statistically, 91 million hectares of the country's total land area of 92.4 million hectares is adjudged to be suitable for cultivation. Approximately half of this cultivable land is effectively under permanent and arable crops, while the rest is covered by forest wood land, permanent pasture and built up areas. Among the states, which have the most abundant land, areas are Niger (7.6 million hectares) and Borno (2.8 million hectares).</p><p>Agriculture crops in Nigeria are grouped into cereals, root and tuber crops, grains legumes and other legumes, oil seeds and nuts, tree crops, and vegetable and fruits. Governments and the Ministries of Agriculture have made land acquisition easy, encouraged agricultural practices, extended (still extending) invitation to foreign investors and have put in place several incentives to stimulate growth in the sector. Despite, the agricultural potential of Nigeria is barely being tapped and this explains the inability of the country to meet the ever-increasing demand for agricultural products and her rank as 55th in the world (although first in Africa) in farm output.</p><p>As the world experiences food crisis and persistent rise in fuel <b >price</b>, the country's agriculture offers unlimited opportunities for foreign investors and the world at large to provide solutions to these crises. Foreign investors will find investments in cultivation of sugar cane, sugar beet, sweet sorghum, starch (corn/maize), palm oil, soybeans, jatropha, and algae. These products are lucrative as they are potential for biofuels, a good substitute for fossil fuel. Presently, there is a very high demand for these crops from the developed economies.</p><p>Solid Mineral is another sector with great investment opportunities. Nigeria is endowed with numerous mineral resources. Recent policy reforms have brought the solid minerals sector to the fore. The emphasis is on encouraging massive foreign investors' participation in this sector as less than 0.5 per cent is contributed to the Gross Domestic Products from Solid mineral sector. However, the Ministry of Mines and Steel and the Ministry of state's focal attention in the last one year is to strategically place the country in a better position to explore and exploit just seven minerals in the plethora of minerals so as to increase Gross Domestic Product to 5 per cent within the next few years. The seven strategic minerals are coal, bitumen, limestone, iron-ore, barite, gold and lead / zinc.</p><p>Coal can be found in Enugu, Benue and Kogi. Within these three districts 396 million metric tones can be demonstrated using JORC classification criteria, while an additional 1,091 million tones of inferred and hypothetical coal resourced for the areas studied is 1481 million tones.</p><p>Knowing fully that development of coal will assist in the realization of energy, the Government and the Ministries are inviting foreign investors to participate actively in the exploration and exploitation of the mineral. Companies such as Denver Resources and Western Metals have already committed US million and US million respectively for two coal fields in the country. Another Chinese firm, Grid Xin Yuan International Investment Company that is providing more than half of China's electricity needs is also in the country, indicating their interest in the development of a coal field in Kogi State.</p><p>The Bitumen reserve in the country is estimated at more than 27 billion barrels of oil equivalent while iron-ore is estimated at over 5 billion inferred reserves with presence in Kogi, Enugu, Niger, Zamfara and Kaduna States. Gold in just 10 locations is estimated at 50,000 ounces, barites 10 million metric tones and limestone at 2.3 trillion reserves.</p><p>Talc with an estimated reserve of over 100 million tones can be found in Niger, Osun, Kogi, Kwara, Ogun, Taraba and Kaduna States.The colour of the Nigerian talc varies from white through milky-white to grey. The talc industry represents one of the most versatile sectors of the industrial minerals in the world. The exploitation of the vast talc deposits in Nigeria would therefore satisfy not only the local demands but also that of the international market as well.</p><p>The national demand for table salt, caustic soda, chlorine, sodium bicarbonate, sodium hydrochloric acid and hydrogen peroxide exceeds one million tones. A colossal amount of money is expended annually to import these chemicals. There are salt springs at Awe (Platue State), Enugu, and Uburu ( Imo State), while rock salt is available in Benue State. A total reserve of 1.5 billion tones has been indicated. Government, to ascertain the quantum of reserves, is now carrying out further investigations.</p><p>In the same vain, large bentonite reserves of 700 million tones are available in many states of federation ready for massive development and exploitation, over 7.5 million tones of barite been identified in Taraba and Bauchi states, and an estimated reserve of 3 billion tones of good kaolinific clays has also been identified.</p><p>Gemstone mining has boomed in various parts of Plateau, Kaduna and Bauchi States for years. Some of these gemstones include Sapphire, Ruby, Aquamarine, Emerald, Tourmaline, Topaz, Gamet, Amethyst, Zircon, and Fluorspar, which are among the best in world. Good prospects exist in this area for viable investment. Understanding that this sector requires urgent investment, the Ministry has directed miners who are still in small artisan levels to form cooperatives so as to benefit from World Bank US million assistance. Apart from this, three Nigerian Banks have also established solid minerals desk with fund of over US$ 8 million each for the development of the sector.</p><p>Foreign investors will find this sector worth-investing on as Nigerian governments have put in place various incentives and strategies for investment such as 3-5 years tax holiday, deferred royalty payments, possible capitalization of expenditure on exploration and surveys, extension of infrastructure and provision of 100% foreign ownership of mining concerns.</p><p>Recognizing that only a sustained macroeconomic environment and a sound and vibrant financial system can propel the economy to achieve the country's desire to become one of 20 largest economies in the world by the year 2020, on the July 6, 2004 the Federal Government through the Central Bank of Nigeria (CBN), under the leadership of its Governor, Professor Charles Soludo launched a 13-point reform agenda to restructure, refocus and strengthen the Nigerian Financial System. To complement this agenda, another comprehensive long-term reform agenda for the Financial System (the Financial System Strategy 2020-FSS2020) was launched. The grand objectives of these agendas are substantially being achieved. The country financial system now comprises of strong, efficient and internationally competitive banks with an eye for global markets, a capital market with highest returns on investment, in dollar terms, a sound and rewarding insurance industry and other competitive financial participants.</p><p>Gordon was right in his submission to have described Nigeria as the most dynamic market in Africa. His view that "foreign investors, who will be patient enough to weigh the Nigerian Financial System on the credit risk perspective relative to the global event, will find the nation's financial sector more interesting to invest and raise funds from" x-rays the truth about the country's financial sector.</p><p>The country's banking system is the safest and the soundest it has ever produced in history. It is the fastest growing banking system in Africa and one of the fastest in the world. In fact, the most outstanding contribution towards realization of the country's dream came from this sub-sector. Economic analysts have observed that it has taken Nigeria less than 3 years to achieve what it took South Africa 20 years to achieve in the area of banking. In a short word, a world-class banking system has emerged in Nigeria.</p><p>Statistically, banking sector contributes 10 per cent to the Gross Domestic Product (GDP) and represents 60 per cent of the stock market capitalization, while there was a reduction in the number of banks from 89 to 25, the number of banks branches rose by 33 per cent from 3383 in 2004 to 4500 in 2007. The total asset base of banks rose by 104 per cent from $ 26.8 billions ( 3.21 trillion naira) in 2004 to .7 billion ( 6.56 trillion naira) by mid 2007; capital and reserves rose by 192 per cent from .72 billion (327 billion naira) to .98 billion ( 957 billion naira); capital adequacy <b >ratio</b> rose by 42.6 per cent, point from 15.18 per cent to 21.6 per cent and <b >ratio</b> of non-performing <b >loans</b> total <b >loan</b> improved massively by 51.3 per cent, point from 19.5 per cent to 9.5 per cent. The sector has also remained one of the most profitable in the country's capital market. It was noted that 13 out of 21 quoted banks on the Nigerian Stock Exchange recorded returns in excess of 100 per cent since January 2007.</p><p>According to the April 2008 edition of the African Business, (the best-selling Pan-African Business Magazine published in London) 18 out of 28 West African Companies with market capitalisation of more than billion are Nigerian Banks. The magazine stated that First Bank Nigeria Plc with market capitalization of .4 billion remains the largest company in West Africa. Two other Nigerian banks namely Intercontinental Bank Plc and United Bank for Africa (UBA) remain the second and the third largest companies in the sub-region with market capitalization of .2 billion and .6 billion respectively.</p><p>Apparently, the rising tide of banks in the country from all indications has made the sub-sector very attractive, not only to local investors, but also to foreign investors, and in particular, foreign banks. For instance, the consolidation of Regent Bank, Chartered Bank and IBTC to form IBTC Chartered Bank attracted the interest of the Standard Bank Group, the largest financial institution in Africa with a market capitalization of $ 17.8 billion, whose subsidiary Stanbic Bank, also of South Africa has just sealed a Merger deal for the latest Merger in the country, Stanbic IBTC Bank Plc. In this direction, other foreign banks have started making enquiries with CBN of a possible Merger or take-over.</p><p>To further substantiate the opportunities the banking sub-sector offers the global investors, a cursory look into Intercontinental Bank Plc will reveal the success of banking system in the country. Intercontinental Bank Plc is known to be the second largest companies in West Africa to have recorded a phenomenal growth in gross earnings, which stood at .45 billion ( 173.5 billion naira) in 2008. This is an increase of 99 per cent over the 8 million (87.4 billion naira) in 2007, profit after tax grew by 102 per cent to 0 million ( 45.6 billion naira) as against 8 million (22.6 billion) in 2007, while the capital base rose to .67 billion from .31 billion. The bank deposit base soared to .75 billion ( 1.05 trillion naira), an increase of 126 per cent from .9 billion (468 billion naira) in 2007, while the total assets also recorded a quantum leap to .2 billion (1.7 trillion naira), representing a growth of 108 per cent from .86 billion( 823 billion).</p><p>The bank is also in strategic partnership with BNP Paribas, the world leading energy financing bank, Afrexim Bank; Export Development Canada (EDC); Finance for Development (FMO); China Exim Bank; Export-Import of United States; International Finance Corporation in financing projects in different sectors of the economy. However, it is relevant to say that the success recorded by Intercontinental bank is a good example of the Nigerian banks' strength and prospects, and a testimony to opportunities available to global investors in the country' financial sector.</p><p>Apart from the above, Nigerian Capital Market offers viable opportunities as it is positioned to help companies to raise capital, and to generate high returns on investment. Its total market capitalization has grown by over 4000 per cent to 0 billion (12 trillion naira) in March, 2008, up from .39 billion (287 billion naira ) in August 1999.Among emerging markets, the Nigerian Capital market remains one of the most viable in terms of returns on equity. Historically, the market has delivered 28 per cent returns.</p><p>Insurance industry is not an exemption to this growth and development the country's financial sector is witnessing. Although there are few black spots on the regulatory handling, the industry has equally recorded success in their reforms and operations. With the inflow of robust capital, insurance companies are now faced with the challenges of delivering returns to shareholders, maximizing <b >value</b> and exploring overseas markets. Their presence can be felt in countries like Ghana, Liberia, Sierra Leone, Sao Tome, South Africa among others.</p><p>Although Goldman Sachs' report titled "New Market Analyst" with issue number 08/09 released on March 13, 2008 (cited in the Thisday newspaper March 19,2008) posited that Nigeria is a better economy than South Africa, International Monetary Fund (IMF) reported that Nigeria and South Africa got close to 50 per cent of the billion private equity and debt flow to Sub-Saharan Africa in 2007. This underscores the growing confidence of International bodies and foreign investors in country's financial sector and economy at large.</p><p>Furthermore, Fitch Rating Agency and the Standard and Poor rated Nigeria BB-(minus) in the area of sovereign credit, high in development of local currency debt market, and low in the areas of debt to GDP <b >ratio</b> and inflation. The opportunities for growth in Nigeria financial sector are still strong as the underlying fundamentals driving the growth are still present. All these and more, position the financial sector and the country at large as a leading and most dynamic market in Africa and present viable investment opportunities to global investors.</p><p>Needless to say that the opportunities presented above are typical examples and an evidence of opportunities awaiting foreign investors in other sectors of the economy.</p><p>Nigeria is the largest producer and exporter of oil in Africa (although recently placed second behind Angola in the latest OPEC report as a result of Niger Delta Crisis) with a production of 2.5 million barrels and above a day. Besides, the Nigeria is the 7th world's gas reserve holder and the highest flaring nation in the world, with the potential to become a major player in LNG export. It has annual gas flares' capacity to generate over 12000 MW of electricity needed to catalyze the growth of any economy. Although it currently flares an average of 1.2 TCF of gas annually, the sector has the potential to generate great returns on investment.</p><p>One of the greatest opportunities awaiting foreign investors is Real Estate / Property. For instance, Lagos Metropolis with a population of about 18 million has attained mega city status. The State has one of the highest urbanization rates in the world according to the World Bank. Consequently, there is an insatiable demand for housing delivery, which has necessitated the introduction of the New Private Estate Developers Scheme. Under the programme, the government will make large parcels of land ranging from 1 to 25 hectares available to corporate organizations capable of undertaking development and delivery of housing units. Such organization must however demonstrate that they have the financial capacity and technical expertise to deliver quality and affordable housing units.</p><p>Among other sectors of the economy that foreign investors will find viable and worth-investing on are Transport, Sport and Entertainment, Tourism, Power and Steel, Export Processing Zones, Privatization. And available records reveal that the rate of returns in these sectors is as high as in the sectors discussed above.</p><p>Apart from the opportunities mentioned above which our office is strategically positioned to maximize opportunities for the benefit of prospective investors. We also offer consultancy services in the areas of general management, manufacturing, marketing, finance and accounting, personnel, research and development, packaging, administration, international operation, specialized services and other <b >value</b>-adding services. And our strategic partnership with national and international companies put us in position to deliver quality service and high returns on investment.</p><p>Nevertheless, there have been fears raised by international observers, agents and bodies that Nigeria is a high-risk nation for investment and other business transactions. This development is attributed to security, multiple taxation, epileptic power supply, bad roads and poor work environment.</p><p>It may appear that doing business in Nigeria is challenging because of the activities of a few untrustworthy Nigerians who are unscrupulous. But such are simply characterization of human nature; as it can be found anywhere else in the world. It must be said emphatically that the world has been biased in their judgment and treatment of Nigeria security issue. There have never been terrorist attacks, suicide bombings or kidnapping until recently when the issue of Niger Delta came on board.</p><p>Niger Delta region-the source of nation's oil wealth- has become an area of perennial tension, agitation, and recently, militancy. However, a confluence of factors such as environmental damage by oil exploitation, failure to develop the region, lack of job opportunities and sense of deep deprivation from the low share of derivation revenue accruing to the states in the region, has led to the present situation. Acknowledging their situation, the Federal Government has organised a Summit, to be chaired by Professor Ibrahim Gambari, the United Nations Under Secretary General, to provide everlasting solution to the crisis. Frankly speaking, Nigeria is a safe and investment-friendly place and Nigerians are accommodating and industrious.</p><p>Cyber Crime is another fearsome crime, which often put-off prospective investors from involving or investing in the business opportunities in Nigeria. This crime was actually imported into the country by expatriates. It has never been part of Nigeria culture. It is perpetrated by a few section of the population. Their operations are carried out via Internet and their targets are people who transact business via the medium. They pose as government officials and sometimes as businessmen with United Kingdom identity who deal in digital products. However the list of their tricks and operations is not exhaustive. With the help of Economic and Financial Crime Commission (EFCC), Independent Corrupt Practices and Related Commission (ICPC), and other Anti-Criminal Agencies, Cyber Crime and their perpetrators are under control and disappearing.</p><p>The grand objective of the present administration, as encapsulated in VISION 2020, is to make Nigeria a major industrial and economic power, and one of the 20 largest economies in the World by the year 2020 by providing enabling investment and business environment and maximum security for active participation of local and particularly, foreign investors. The realization of these aspirations had informed the radical and pragmatic reforms designed to increase the attractiveness of Nigeria's investment opportunities and foster the growing confidence in the economy. In this direction, the Federal Government has provided incentives and strategies for investment such as 3-5 years tax holiday, deferred royalty, possible capitalization of expenditure and provision of infrastructures such as road and electricity, just to mention a few.</p><p>African economy is witnessing the strongest growth in 30 years; no doubt, Nigeria is one of the major contributors to this development. Most commentators have observed that the opportunities for business and investment in the country look increasingly rosy with GDP growth of 7 per cent in 2007 and 13 per cent in the next 12 years. The International Monetary Fund (IMF) forecast of 9 per cent growth rate for Nigeria in 2008 (which is second to India 10 per cent and ahead of China 8 per cent) lays credence to their observations.</p><p>Furthermore, the increase in Foreign Direct Investment, the entrance of multinational companies, the strong financial sector, the favourable and tremendous business environment, the government support, the abundant natural resources, and the population of over 140 million people, among others, put Nigeria in a comparative ( and possibly absolute) advantage over other African countries.</p><p>Just as it is difficult to ignore China as a market in the global arena, (one out of every five persons in the world is Chinese) so is it very difficult to ignore Nigeria as a market in Africa (one out of every three persons in Africa is Nigerian). With a population of over 140 million people and its economic potential, Nigeria still remains Africa most important market.</p><p>IMPACT OF GLOBAL FINANCIAL CRISIS IN A DEVELOPING ECONOMY</p><p>Unlike China and India, African economy(developing economies) is yet to be integrated into the world economy. This is as a result of slow rate of integration and globalization at which the economy is being fixed into the global economic and financial system. Consequently, developing economies will only suffer a limited financial impact from the credit crunch. However, this is not to say that developing economies are in isolation and totally free from the crisis.</p><p>To grant a point, this paper will continue to use Nigerian economy for its analysis as it represents a paradigm of a developing economy with valid and considerable variables.</p><p>According to the report from a recently concluded Bankers Committee Meeting, which ended on October 20 th, 2008 , the Nigerian banks are safe as they operate at 22 per cent capital adequacy <b >ratio</b>( 14 per cent above the world 8 per cent requirement) and the financial sector is far from being affected by the current global financial crisis. The report also posits that any bail-out scheme is unnecessary as the situation that warranted bail-out schemes in developed economies- poor quality assets and heavy <b >loan</b> losses resulting from exposure to inadequately collateralised mortgage <b >loans</b>- is absent in Nigeria. To underscore its point, the report noted that, as the Direct Foreign Investment in Nigerian banks is comparatively low and the banks connection with their foreign counterparts is loosely fixed, the impact of the crisis will be limited and indirect.</p><p>Conclusion</p><p>The words of Mr. Dominique Strauss-Kahn, the Managing Director of International Monetary Fund, at a meeting in Washington D.C are the corner stones of the concluding thoughts of this paper. He stressed as follow:</p><p>We meet at an extra-ordinarily difficult time- a time of uncertainty and insecurity, with a danger that those fears push us away from- not towards- a more inclusive and sustainable globalization....At its best, multilateralism is a means for solving problems among countries, with the group at the table willing to take constructive action together. When multilateralism is dysfunctional, globalization can be a Babel of Tower, with competing national interests colliding to benefit none. The new multilateralism, suiting our times, is likely to be a flexible network, not fixed system. It needs to maximize the strengths of interconnecting actors, public and private, profit-making and civil society Non-Governmental Organisations (NGOs). The multilateralism must respect state sovereignties while solving interconnected problems that transcend borders...The private sector cannot restore confidence on its own. Macroeconomic policy measures by governments cannot restore confidence on their own. Piecemeal measures on financial markets will not restore confidence on their own. What will restore confidence is government intervention which is clear, comprehensive and cooperative among countries..The world must act quickly, forcefully and cooperatively to contain the ongoing financial and economic downturn.</p><p>Thus, the position of this paper is that the confidence will only be restored if "government intervention which is clear, comprehensive and cooperative" is complemented with investment in developing economies with less or no crisis impact as "flexible multilateralism" and cooperative and sustainable globalization is solution that suits our time, not" economic isolationism".</p>
Investing In A Developing Economy - A Possible Solution To Global Financial Crisis
<p></p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-12646304021227896382012-01-05T20:15:00.001-08:002012-01-05T20:15:04.253-08:00Home Loans and Down Payment Facts<strong><p>Home <b >loans</b> and down payments go hand-in-hand. This term is frequently used as this is the most important figure in the taking of home <b >loans</b>. The total amount for down payment in calculated keeping in mind the property <b >value</b> and the rate per square foot in that particular area. Unlike the idea that any amount can be got as home <b >loan</b> it is important for the buyer to know that only a certain percentage of the <b >value</b> of the property is available as home <b >loan</b>.</p></strong>
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<p>Down payments consist of the amount calculated according to the total property <b >value</b>. This does not include payments for stamp duty costs, administrative costs, property taxes, transfer charges and other miscellaneous charges. This is a misconception that these charges are 'the down payment'. These payments have to be given along with the down payment and it adds to the total amount decided as down payment. Older properties and buildings do not get the same percentage as <b >loans</b> as newer and legal properties get. Banks And financial institutions as well as private lenders hesitate to approve <b >loans</b> for older properties as the <b >value</b> of this home is less and also illegal buildings that have less <b >value</b> than compared to legal and reputed builders. Only authorised buildings are eligible for <b >loans</b>.</p>
<h2>Fha Loan To Value Ratio</h2>
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<p>Hence it is necessary to understand that down payments is not the only amount paid during purchase of a home and applying for a home <b >loan</b> but it also includes other administrative charges and the total sum has to be paid by the borrower during purchase of a home. Also this amounts to a big figure if the property under consideration is of a higher <b >value</b>.</p>
Home Loans and Down Payment Facts
<p></p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.comtag:blogger.com,1999:blog-7440734471192880475.post-61332493273489813282012-01-01T19:54:00.001-08:002012-01-01T19:54:28.390-08:00Mortgage Refinancing: Loan-to-Value Ratio Basics<strong><p>If you are in the process of refinancing your mortgage it is important to understand how <b >loan</b>-to-<b >value</b> affects your mortgage application. Here is what you need to know about your <b >loan</b>-to-<b >value</b> <b >ratio</b>.</p></strong>
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<p>The <b >value</b> of your home is an important aspect of your mortgage application. The <b >loan</b>-to-<b >value</b> <b >ratio</b> lenders use is based on the appraised <b >value</b> of your home and the amount you are requesting to borrow. To determine your <b >loan</b>-to-<b >value</b> <b >ratio</b>, divide the total amount of your <b >loan</b> by the <b >value</b> of your home from a recent appraisal.</p>
<h2>Fha Loan To Value Ratio</h2>
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<p>For example, if your home is worth 0,000 and you are asking for 0,000 from your new mortgage lender, your <b >loan</b>-to-<b >value</b> <b >ratio</b> is .80 or 80%. Mortgage lenders have guidelines for approving mortgage <b >loans</b> and traditional lenders typically do not approve mortgage applications with <b >loan</b>-to-<b >value</b> <b >ratios</b> greater than 80 percent; if the lender is willing to approve a mortgage above 80% <b >loan</b>-to-<b >value</b>, that lender may require Private Mortgage Insurance in order to qualify.</p>
<p>Mortgage lenders consider homeowners with high <b >loan</b>-to-<b >value</b> <b >ratios</b> to be more of a risk for lending. Homeowners that own more equity in their homes are less likely to default on their mortgages than those that have little or no equity. In addition to requiring borrowers with high <b >loan</b>-to-<b >value</b> <b >ratios</b> to take out Private Mortgage Insurance, mortgage lenders charge these borrowers higher interest rates because of this increased risk. If you are a homeowner with a high <b >loan</b>-to-<b >value</b> <b >ratio</b> the lender may require you to pay for a new appraisal before approving your mortgage. To learn more about refinancing your mortgage and avoiding common mortgage mistakes, register for a free mortgage guidebook using the links below.</p>
Mortgage Refinancing: Loan-to-Value Ratio Basics
<p></p>Adminhttp://www.blogger.com/profile/03678741114913534493noreply@blogger.com