Interest Only Mortgage? Consider A Graduated Payment Mortgage

Author: Carrie Reeder

Graduated payment mortgages (GPM) offer financing solutions for those who expect their income to rise in the future. A hybrid of an adjustable rate mortgage and fixed-rate mortgage, a GPM with its fixed interest rate starts with low payments that increase yearly based on the loan's terms. If you have considered an interest only mortgage loan in the past, you might want to consider the benefits of a graduated payment mortgage instead.

GPM Features

A GPM offers low monthly payments by increasing payments for the rest of the loan's term. At the beginning your mortgage will not completely cover your interest charges (negatively amortizing), but larger payments will be made later on to cover both interest and principal.

Generally, a GPM's beginning payments will be a couple of hundred dollars less than a comparable fixed-rate mortgage. However, in later years you can expect to pay at least a hundred dollars more in monthly payments than a fixed rate mortgage payment.

Lenders also offer several different types of payment plans. The most common is to graduate payments annually for the first seven years, after which payments remain the same. Longer graduated periods or a greater rate of increase can lower your initial payments even more.

GPM Benefits

A GPM allows a borrower to enjoy low monthly payments with the security of a fixed-rate. Most homebuyers expect their income to increase if only due to inflation. A GPM takes advantage of this situation by increase payments as your income should increase.

A GPM also allows you more buying power based on the lower monthly payments and expectation of increased income. With initial reduced payments, you can pay for moving expenses and home furnishings.

GPM Drawbacks

Like with any type of mortgage loan, you need to weigh all the factors before choosing a GPM. One of the risks with a GPM is that you may not be able to afford the higher monthly mortgage payments, which could threaten your financial situation.

You may also find that if you have to move within a couple of years that you may owe on the loan after selling due to negative amortization. Even if you don't owe interest, you will have very little equity in the home until several years into your mortgage.

Consider your financial goals with different financing packages to find the best fit.

About the author: See my recommended Home Mortgage Lenders online for the lowest rates possible. Carrie Reeder is the owner of ABC Loan Guide, which offers help finding the best home mortgage loans .

Reverse Annuity Mortgage - Tapping Into Your Equity

Author: Carrie Reeder

Reverse annuity mortgages (RAM) were created to allow older Americans to tap into the equity of their paid for or nearly paid for home. Homeowners receive a tax-free payment each month, and the mortgage is paid when the home is sold. Before you choose a RAM, make sure you have evaluated the risks since this option can limit future housing plans.

Types Of Reverse Mortgages

One of the first RAM programs was developed by HUD and is still in existence. To qualify you must be 62 or older, live in the home, and have paid off your mortgage. The government will then insure your mortgage.

You can also work directly with private lenders. You will want to review their terms carefully to be sure that you are getting the full value of your home and not paying thousands in fees.

With both types of RAM you will never owe more than what your home is worth. When you decide to move, the loan's principal, interest, and fees will be due. Any equity remaining from the sale of your home will be yours or can be based onto heirs.

Difference Between A Reverse Mortgage and A Home Equity Loan

The major difference between a RAM and a home equity loan is when the loan balance is due. With a RAM, the mortgage balance is due when you stop living in the residence. You don't have the monthly payments of an equity loan. With a RAM it is easier to qualify for the mortgage since you don't have to have income to make monthly payments.

Payouts Options

There are several payout options that you can choose from. A tenure policy provides equal monthly payments as long as the borrower lives on the property. A term policy gives equal monthly payments for a fixed period of months. With a line of credit the borrower to withdrawal funds when needed. A modified tenure combines a line of credit with life long monthly payments. And finally, a modified term provides a line of credit with fixed monthly payments.

Beware Of Scams

There are several scams related to reverse mortgages that you should be aware of. You should not pay thousands for information about a RAM. This information is available freely through HUD and legitimate mortgage lenders. You should also avoid any terms that require payments before you sell or that sell your house within so many years. To avoid scammers, research terms and rates with several lenders and ask questions.

About the author: See my recommended Home Mortgage Lenders online for the lowest rates possible. Carrie Reeder is the owner of ABC Loan Guide, which offers help finding the best home mortgage loans .

Buy More House With A Buy Down Mortgage

Author: Carrie Reeder

A buy down mortgage allows you to buy more house with your income and enjoy low monthly payments for a couple of years. With reduced payments, you can pay for move in costs and furnishings. You also qualify for a larger mortgage due to lower monthly payments.

Buy Down Mortgage Terms

Buy Down mortgages come in three packages. A temporary buydown loan, the most common, starts with a discounted interest rate for one to three years that increases to a fixed rate in yearly increments. You pay the difference in interest payment in an initial payout to the lender at the start of your home loan. Some lenders will pay this lump sum, but then charge a higher interest rate for the loan.

For example, you can have a mortgage with a 6% interest rate that is reduced to 4% the first year, then raised to 5% the second year, and finally reach 6% on the third year. The difference in the mortgage payments for the first two years will need to be paid to the lender at the time of settlement.

A compressed buydown mortgage works like a temporary buy down loan, but interest rates rise every six months. A permanent buydown loan has a low interest rate for the life of the loan, but that difference still has to be prepaid to the financing company.

Buy Down Mortgage Benefits

The chief benefit of a buydown mortgage is that you can qualify for a larger loan amount based on your income. This can be especially helpful if you expect your income to increase in the near future.

In addition, initial low monthly payments allow you to pay for the many expenses associated with buying a home. The cost of moving expenses, home furnishings, and landscaping can quickly add up those first couple of years.

Buy Down Mortgage Considerations

Buy Down mortgages should be considered along with other types of mortgages. In some cases if the large initial payment was used as part of a down payment, you may find better terms with a fixed rate or ARM. You may also find that if you are planning to move within seven years, an ARM can give you the same low monthly payments without the upfront cost.

No matter what type of home loan you choose, research lenders and loan terms beforehand. Compare interest payments and base your decisions on your financial goals.

About the author: See my recommended Home Mortgage Lenders online for the lowest rates possible. Carrie Reeder is the owner of ABC Loan Guide, which offers help finding the best home mortgage loans .

Ameriquest Mortgage Company Tips, Tricks, And Offers For Refinancing Loans For Your Home

Author: Christopher M. Luck

Ameriquest's loans are easy to qualify for, and they are willing to work with you to custom design a loan that fits your needs. An Ameriquest mortgage can mean that you can lower your current monthly payments, have cash back, and take a thirty day break from all of your current payments. A refinancing package from Ameriquest could be just what might help you out for several reasons.

Ameriquest offers loans that can help you consolidate high interest debt like credit cards. The balance on your credit cards can take you years to pay off. As a result, plodding along making minimum monthly payments can be costing you a fortune. Obtaining a loan from Ameriquest can pay off those high interest debts and save your hundreds of dollars in minimum payments every month. With credit card monthly minimum payments set to increase because of the passage of a new law, you could be in real financial trouble if you don't consolidate your debt today.

Though the company specializes in Ameriquest mortgages, it also offers loans to give you the extra cash you need for any purpose. Perhaps you have always dreamed of owning your own business. Maybe junior is getting ready to head off to college. Maybe you have several upcoming expenses you know you will not have the cash for. Whatever the purpose, Ameriquest can help with a cash-out refinancing plan.

More than just cash for any purpose, Ameriquest can offer you cash for home improvement projects. Every home has a few things the home owner would like to improve upon. Ameriquest is here to help homeowners by financing those projects that you are ready to tackle. Whether you need a new roof, new siding, new windows, or you really want to add a playroom for junior and a sun room for yourself, Ameriquest Mortgage Company can help you with all of your home improvement needs.

Not only does Ameriquest provide the best cash loans for you, they also have a host of customer service options that most mortgage companies simply cannot provide. When you apply for an Ameriquest mortgage, you get a personal home loan specialist to walk you through every step of the process. Ameriquest understands that a home loan can be a challenge. That's why they give you someone to hold your hand through each step. Your personal mortgage specialist is on call for you. That means that whenever you have a question about any step in the process, he or she will be available to answer it in a timely manner. Ameriquest also offers the speed that most lending institutions cannot. Ameriquest Mortgage Company close most of their loans in a matter of days. Other banks take months to finalize loans like this. Moreover, they will let you know if you qualify for a loan within twenty-four hours, which means you will no longer have to spend weeks wondering if this is even the lending institution you should be dealing with.

Ameriquest mortgage has over one hundred and fifty locations staffed with more than three thousand mortgage specialists to take care of your loan needs. That means there is probably an Ameriquest loan specialist right in your neighborhood. A loan with Ameriquest also means that you get to take thirty days off from those payments. Thirty days without credit card bills, home loan bills, or your bill from Ameriquest

http://www.aemriquestmortgageloans.info/amerique st_mortgage_baker_nevada.htm . That kind of extra cash can mean a lot to families who need a little something extra in their budget. Because your Ameriquest mortgage payments will not start for thirty days after you have signed your loan paperwork, you could be spending extra paychecks you've never had on things you would not ordinarily be able to buy without the help of Ameriquest.

About the author: I have an extensive background of dealing with Mortgage Loans and am now offering my free professional fre e mortgage advice to the public.

Fannie Mae And Freddie Mac Mortgage Loans - Conforming Loans Provide Low Interest Rates

Author: Carrie Reeder

Conforming loans provide low interest rates since they are almost guaranteed to be purchased by Fannie Mae or Freddie Mac, which allows more funds to be available for borrowers. However, these corporations have terms, such as maximum loan, that limit how much you can borrow. If you don't meet their terms, you will need to apply for a non-conventional loan with slightly higher interest rates.

Loan Purchasers

Fannie Mae and Freddie Mac are stockholder owned companies that purchase mortgages, package them into securities, and then resells them to investors. This allows banks and other financing companies to lend to more customers since their capital is not tied up in long-term loans.

Fannie Mae and Freddie Mac have strict requirements for purchasing loans. Basically, they want to reduce their risk level so they put a cap on loan amounts, credit score, income level, and down payment.

Conforming Loan Amounts

Each year Fannie Mae and Freddie Mac create new guidelines for loan amounts. In 2005, a mortgage limit for a single-family dwelling is $359,650. Limits for multiple family dwelling are significantly higher, roughly an additional $100,000 per family. Maximum loan amounts are also 50% higher in Alaska, Guam, Hawaii, and the Virgin Islands since property prices are higher.

Second mortgages also have their limit. In 2005 the limit was $179,825, but the total mortgaged amount of both loans could not exceed $359,650. As with first mortgages, second mortgages can also be 50% higher in designated areas.

Non-Conforming Loans

There are other loan options if you don't qualify for a conforming loan. If you need to borrow more than the maximum conforming loan amount, then you will want to apply for a jumbo loan. Because these types of loans are handled on a smaller scale, their rates are slightly higher than a conforming loan.

If you have poor credit or little down payment, you can use a subprime lender who specialized in lending to B/C type loans. You can expect to pay higher rates with these lenders, but many offer favorable terms. To find the best deal and to avoid scams, you must research your lender. Compare rates and terms until you find a favorable financing package.

About the author: See my recommended Home Mortgage Lenders online for the lowest rates possible. Carrie Reeder is the owner of ABC Loan Guide, which offers help finding the best home mortgage loans .

Things To Remember Before Selecting Mortgage Loans

Author: Al Falaq Arsendatama

Mortgage loans are the easiest way to own your house or property. New low down payment and longer mortgage terms allows people with low income or low cash to purchase their home by taking home mortgage loans. The mortgage amount is the amount of money you borrow from a lender to pay for your house.

Home mortgage loans are offered against collateral security of the property you purchase. However, you possess the house you purchase and have its ownership as well; the lender also has an ""ownership interest"" on it until the loan has been paid.

The mortgage loan rates have come down, which makes the mortgage loans attractive for borrowers. Mortgage loan rate varies according to loan plans. Fixed interest loans have an interest that is fixed for the entire loan tenure. Here the mortgage loan rate never changes.

Another type of mortgage loans is flexible-interest mortgage loans. The interest rate of flexible interest mortgage loans increase or decrease depending on the market condition and the national economy. Consequently, your mortgage loan's term may go up or down but the monthly mortgage payment will remain same.

Mortgage Loan Application Process

Mortgage loan application is filled in after deciding the mortgage loan plan. This application for mortgage loans has columns related to your personal details, income details, credit history and the details of the property that you propose to buy. You may be asked to submit documents as proof of information you provided along with your mortgage loan application form.

On receiving the mortgage loan application, a mortgage loan advisor will contact you for verification of the details. After verifying your details and your income source, a surveyor will survey the property and evaluate it. On successful verification, you will be granted the mortgage loan amount to purchase your home.

Things To Remember Before Selecting Mortgage Loans

Your home mortgage loans will be amortized in regular monthly instalments. The most popular term for home mortgage loans is 30 years. The choice of mortgage loan term depends on your repaying capacity. A long-term mortgage loan plan has low monthly repayments. However, you end up paying more interest on your loan.

A short-term mortgage loan such as 10 or 15 years has high monthly payment. However, the total interest that you pay on that mortgage loan is lesser. Before you apply for a home mortgage loan, calculate your current and future income and then decide the period for which you need the mortgage loans.

We suggest you to choose a term for mortgage loans that has comfortable payment plan to let you own the house and still have sufficient funds to enjoy your life.

Please visit our site for tips to lower mortgage interest rates and

zero interest home loans for first time buyers . Check out also useful guide for instant response credit card application here.

About the author: Al Falaq Arsendatama is web entrepreneur specializing in finance and health. For Please visit our site for tips to lower mortgage interest rates .

Refinance Mortgage Lenders - Prime Lenders Vs Sub Prime Lenders

Author: Carrie Reeder

Refinancing your mortgage can save you money through lower interest rates and smaller monthly payments. You can also choose to cash out all or part of your equity to pay off bills or to remodel your home. But which lender is best for you really depends on your credit.

For those with near perfect credit, a prime lender is your best choice for finding a low rate. But for those with some credit problems or who want flexible loan terms, then check out a sub prime lender for competitive financing.

Benefits Of Prime Lenders

Prime lenders usually offer the lowest rates with the lowest fees, but only to those with excellent credit. That means no late payments on mortgages or other loans in the last 24 months. You should also have a debt ration of 36 or less, meaning your monthly debt payments should equal 36% or less of your monthly income.

With a few late payments, you may still get approved with a prime lender. But your rates will probably be a percent or more over the conventional rate. You may offset this with a large equity base or large cash assets.

Benefits Of Sub Prime Lenders

Getting approved with a sub prime lender is much easier than with a prime lender. Even if you have had a bankruptcy or foreclosure in the last few months, you can get a refi mortgage.

You can also avoid the cost of private mortgage insurance premiums with a sub prime mortgage. Prime lenders require insurance if you have less than 20% of equity in your home. Sub prime lenders also offer a wider variety of terms and loan options.

Finding The Best Refinance Mortgage For You

Even within each category of lender, there is a great range of rates. In order to find the lowest costing refinance package, you really need to request mortgage quotes from several lenders before making a decision.

There is also the trend for financial companies to deal with both types of lending. So don't rule out conventional lenders if you are looking for a sub prime mortgage.

About the author: View our recommended

Bad Credit Mortgage Refinance lenders or view all of our

Recommended Refinance Lenders .

100% Financing Or No Down Payment & Bad Credit Mortgage Loans

Author: Carrie Reeder

Sub-prime lenders now offer financing packages with zero down. Interest rates are higher on these types of loans, but they make purchasing a house easier. And unlike a conventional loan, there is no private mortgage insurance required. There are two types of zero-down mortgage packages, each with their own requirements.

Types Of Zero-Down Loans

100% financing, as it names implies, offers complete financing of your property. The other option, 80/20, finances your mortgage with two loans. Both loans may be carried by your lender, but sometimes the seller or a second lender is required to carry the 20% mortgage.

100% financing is easier to deal with, but not all lenders will offer this type of home loan. 80/20 financing is more common, but takes some negotiation if the seller is involved.

Qualifications For Zero-Down

Each lender has their own criteria for determining who will qualify for a zero-down loan. Most sub-prime lenders require any bankruptcies or foreclosures to have been at least twelve months ago. A conventional loan requires these to be discharged two to four years ago.

While a credit score of 600 or higher is best, large cash reserves can also qualify you. Six to twelve month's worth of cash reserves in the form of savings, money market, or other liquid assets are considered ideal.

If you choose 80/20 financing with the seller carrying the second mortgage, you can qualify with sub-prime lenders with a score of 560.

Zero-Down Sub-prime Lenders

You can find zero-down sub-prime mortgages with both conventional and niche sub-prime lenders. Make sure that you request quotes from as many mortgage lenders has possible to be sure you find the lowest rate and best terms.

You will also want to decide what type of mortgage you want. An ARM is easier to qualify for and has lower rates. A fixed rate mortgage offers the security of a constant interest rate over the life of your loan.

Typically an ARM will be a better deal if you plan to refinance within a couple of years. After you have improved your credit history, you can refinance for a conventional mortgage with low interest rates.

About the author: See my recommended companies for

Bad Credit Mortgage Loans . Carrie Reeder is the owner of ABC Loan Guide, which offers help with loans for people with bad credit .

A Guide to Getting a Mortgage

Author: John Mussi

Buying a new house is a major step in your life... and it can also be a major debt that shouldn't be taken lightly. To save yourself both time and money, it's important to keep your need for a mortgage in mind during the entire process of finding and buying a new home.

Careful consideration of potential houses and shopping around for a mortgage lender can not only help you to find the right house for you and your family but can also help make sure that you're not paying more in interest and fees than you absolutely have to.

Here are some helpful hints to assist you in finding the house that you want and getting the money that you need so you can pay for it.

Advantages of Using a Realtor

In order to buy a new home, you need to find a house to buy. While there are a variety of ways that you can go about searching for a house, one of the best ways is to locate a realtor and let them assist you with the process. While there may be some additional fees associated with using a realtor, the benefits more than outweigh the drawbacks.

Not only will they be able to walk you through their entire catalog of homes (and often the homes that other realtors in the area have for sale as well), but realtors can often recommend mortgage lenders that they work with regularly (and who may offer reduced rates because of the reference) in addition to assisting you with getting utilities connected and recommending businesses and services if you're new to the area.

Finding a Mortgage Lender

Once you've found the house that you want to buy (either with a realtor or by yourself), you need to decide where you're going to get the money to pay for it. The best way for you to find a mortgage loan with good interest rates is for you to shop around and compare lenders before making your decision.

Request loan quotes from a variety of lenders, not just banks... after all, mortgage and finance companies exist to provide loans, as do online lenders.

By taking the time to compare interest rates and loan terms from several different types of lenders, you might end up finding a much better deal on your mortgage than you would have from the lender whom you originally planned on using.

Down Payments, Closing Costs, and Other Fees

In most cases, you won't be borrowing a house's total cost with a mortgage loan... you'll be expected to pay a portion of the cost up front and borrow the rest. Unfortunately, the amount that you pay up front isn't all that you're going to have to pay once the deal is closed... other fees, such as closing costs, lender fees, and realtor fees, must also be paid.

In order to make sure that you have enough money to pay for all of this, you should inquire as to what fees will be associated with your mortgage loan and with purchasing the house you want before you request a quote from a lender. Subtract this amount from the money that you have available, and then use the amended total as your down payment when requesting loan quotes.

Ideally, you'll be able to submit a down payment of at least ten percent of the total cost of the home... this is the percentage that many lenders prefer, though most will accept a lower down payment or no down payment though closing costs and fees still apply.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About the author: John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans. co.uk website.

Interest Only Home Mortgage Loans - Good Or Bad Idea?

Author: Gary Gresham

Is an interest only home mortgage loan a good or bad idea for financing a home? These loans have become very popular and are one of the many different kinds of financing available for property.

Opinions vary as to whether an interest only home mortgage loan is a good idea for the average home owner, with valid points being made on both sides. If you are in the market for a home you need to consider all the finance options available to you, together with your ability to repay them.

Here are some interest only mortgage loan pro and cons to look at both sides of this kind of financing.

If you are employed full time, single and making a good salary then an interest only home mortgage loan may not be the best financing for you. That's because you could pay off your loan at a lower rate of interest and in less time with a different kind of loan program.

On the other hand, you could save a lot of money by only paying the interest. It is possible that if you invested this in a safe investment you would not only have enough to pay off the principle on the mortgage, but would also gain a little capital for yourself at the same time.

This of course is a gamble, because how many people will actually invest the savings? However, if you have no other financial responsibilities, it's one you might find attractive.

If you work in seasonal employment, like in the tourist industry, you may find that paying an interest only monthly mortgage payment allows you the freedom to pay a minimum amount when you are in ""off season"".

But during the time you are working, you can make accelerated payments off the principle in addition to the interest.

The risk of paying an interest only mortgage loan repayment is that the principle is not being repaid. Unless the price of homes in your area rises, you don't build up any equity in your home.

Paying the monthly mortgage payment on an interest only mortgage can become like paying rent. You don't have the safety net of being able to sell your home to raise cash if you are faced with some emergency in your life.

As a young professional just starting out on your own, this might not be an issue you need to consider. But if you are married and have a family, you should seriously consider the implications of not having the kind of mortgage that allows you to build a financial safety net.

Home equity gives you a form of financial security that can come in handy if you really need to use it. This should be a consideration when deciding which home loan to choose.

A lower monthly mortgage payment will always look attractive on paper, but consider all the implications carefully before taking the option of an interest only mortgage loan as a way of financing your home.

Copyright © 2005 Credit-Repair-Facts.com All Rights Reserved.

About the author: This article is supplied by http://www.credit-repair-facts.com where you will find credit information, debt elimination programs and informative articles that give you the knowledge to correct your own credit and credit report. For more credit related articles like these go to: http://www.credit-repair-facts.com/articles_1.html

Commercial Mortgage Broker

Author: Adam Smith

What can your commercial mortgage broker do for you? If you have not ever met with your commercial mortgage broker now is a good time too. A commercial mortgage broker can offer you a wide variety of products and services - such as a commercial mortgage or a commercial bridge loan - to fit the needs of your company, whether you are rapidly growing or just chugging along slowly but surely.

The following are examples of some of the products and services a commercial mortgage broker might be able to offer your business:

Commercial Mortgage

Like you might imagine, any commercial mortgage broker will be able to extend you a commercial mortgage. A commercial mortgage is essentially a mortgage on the building and land that your business occupies. If you are looking to refinance your commercial mortgage you would be wise to talk with your commercial mortgage broker and see what kind of rates he can get you. Currently rates are at or near all time lows so now would be an excellent time to refinance your commercial mortgage and lock in those rates for the future.

If your business has just experienced a jump in growth then now might be a good time to build your office space and get out from under those lease payments. Again your commercial mortgage broker can help you by drawing up a contract for a mortgage that meets your needs.

Commercial Loan

Perhaps your business has experienced strong growth and you want to continue to push for more growth but your company is lacking the capital to do so. Your commercial mortgage broker can help you in this scenario as well by offering you a commercial loan. A commercial loan will give you the cash you need now and as your business grows and you are able to improve your profitability margins you can pay down the commercial loan. The size of the commercial loan your commercial mortgage broker is willing to extend to you will of course depend on the credibility of your business plan, the experience of your management team, and the risk involved, just to name a few of the factors that go into the lending decision.

The only surefire way to know what your commercial mortgage broker requires is to visit their office and find out what it will take to get their financial support.

Commercial Bridge Loan

Your commercial mortgage broker should also be experienced in issuing a commercial bridge loan. A commercial bridge loan is a financial instrument that helps companies acquire financing for mortgages in a relatively short period time. Likewise, a commercial bridge loan is typically only issued for a short period of time.

You might need a commercial bridge loan if your primary mortgage is coming due and you do not have time to refinance. In this case you can work with your commerci al mortgage broker to push through a commercial bridge loan rather quickly so that you are able to cover the mortgage that has come due. Then you can work with your broker to roll the bridge loan into a more long term form of financing, such as a commercial mortgage.

Adam Smith is an informational author for 10X Marketing.com To learn about an

investment property , visit SNCLoans.com

About the author: None

Mortgage Brokering as a Freelance Business Opportunity

Author: Guy.T

In the mortgage business there are two foundational areas of involvement. One is the position of ""loan officer,"" the other is working as a ""broker."" The loan officer for the most part earns from what is called ""personal production,"" which means you are earning from what you are able to personally produce by bringing mortgage business into your employer's office. In some cases you may be paid a base salary and/or draw, but then you will be paid less in commissions by the company (broker) you are working for.

The second - and most potentially lucrative for you - area of involvement is the broker. Most people start out in the mortgage business by working as a loan officer, gaining experience and expertise, and later they consider opening their own shop by becoming a broker. This can be frustrating for the broker who is training loan officers, because they are continually losing their best loan officers and creating their own future competition.

The broker hires, spoon feeds and trains their loan officers and pays them a commission out of the profits they receive from the lenders with whom they work. As the loan officer begins to learn the business they obviously start thinking about leveraging themselves through the efforts of others so that they can earn from the production of others as the broker does.

~ The mortgage business is currently experiencing re-definition by new leaders in the industry who are breaking old traditional earning models. ~

Within the last few years new leaders in the mortgage industry have been breaking the old traditional earning models, and have created revolutionary new approaches which allow just about anyone to build a business in the mortgage industry with very little knowledge or experience. Beginners are now able to make more money - in less time - with less effort!

In the past you would have started out as a loan officer - generally with a bachelor's degree in finance, economics, or a related field, and earned $30,000 to $50,000 a year. You then worked locally where the broker who hired you was licensed to do business. For the most part your income level would have been limited until you gained enough experience to open your own shop.

The downside of this was that even when you advanced to becoming a broker yourself, you also took on the financial liability of running a business. Opening a local mortgage brokerage can often be very costly, along with the many additional liabilities that go along with hiring, training and running payroll.

New approaches to the mortgage business now allow you to build a mortgage business of your own where you call the shots and your income is not solely dependent on your own personal production.

Here are just a few of the new advantages...

* You can now earn on mortgage business on a national level. These new business models now allow you to operate under a ""branch license"" so you can do business just about anywhere.

* You have the ability to immediately leverage yourself. You can earn commission overrides just like a traditional Mortgage broker can. This means that you can build a national team throughout the United States and earn from their activity.

* No major investment - Instead of investing thousands of dollars in franchise fees you can get started typically for around $200.

* You are able to tap into proven business models that will help you teach and train your unexperienced loan officer recruits.

How much money can you make?

Let's compare the traditional model of earning only from your personal production with the model of introducing this concept to others and being able to leverage yourself:

The following will give you an example of what you would earn If you based your earning level on personal production at three different commission earning levels. The following are based on a hypothetical $200,000 mortgage.

One House per month Commission paid out 30% $1,050.00 Earned 64% $2.240.00 Earned 70% $2,660.00 Earned

Two Houses per month 30% $2,100.00 Earned 64% $4,480.00 Earned 70% $5,320.00 Earned

Let's look at this a different way that shows the power of leverage where you are not depending entirely on your own personal production. The following example assumes that you are earning 64% from two personal loans a month and are earning from the personal production of five others who are doing just one loan each per month.

Personal Production 64% Earning Level Your personal earnings - $4,480.00 Loans From 5 Others Who Are At The 30% Level Your earnings from their production - $5,950.00

Total Earnings For Month - $10,430.00

As you can see, it really is to your advantage to immediately involve others in the business. Your personal efforts along with the combined efforts of others can really produce some exciting numbers, in this example over $125,000 a year in income! The exciting thing about this is that you are not limited to just five people, you have the ability to grow a very large income very quickly.

Positive Points

1) You don't have to wait until you're experienced, you can start right away.

2) You are not limited to earning from the efforts of just five people, your earnings can come from as many personal recruits that join your business.

3) You can earn from the personal efforts of those you recruit as well as the people they themselves introduce to the mortgage business!

4) Your earnings can be generated from other team members throughout the United States representing every conceivable city you can think of or have never heard of.

Am I beginning to get your attention yet?

By now your mind might be flooded with additional questions. One prevailing question might be...

""There are already many people in the Mortgage business, how can we compete?""

To be perfectly honest, many people who are approaching the mortgage business with old worn out models are finding it difficult to survive, while companies and individuals who are embracing these revolutionary new concepts are exploding in growth.

In the USA, the housing market has been booming, but now it is leveling out or even shrinking in many areas. Most of those homeowners would love to save on their mortgages now, and their need is likely to increase if the market keeps going down. There are some very creative mortgage services available online, with some research you can make a very good offer to your customers.

If you want a real, tangible business that you can run from home, using the Internet, this is a good one to consider. Spend some time searching the web and reading up on this and I think you will find the information you need, and some good groups who will be happy to help you launch yourself into this business.

It's a win/win. You will be helping others at the same time that you build a long-term income and a business to be proud of, for yourself. www.worlddomainhosting.com/

About the author: specializes in helping new, aspiring and existing businesses around the globe. As an Entrepreneurial Consultant that has lived and worked in various countries around the world he has been able to assist many companies and entrepreneurs that were seeking to start, change or expand their business. Currently, he is focusing his efforts on his family and the upcoming birth of 'the twins' while still assisting entrepreneurs world wide.

Subprime Mortgage Lenders - Sub-Prime Loans Now Available Through Traditional Lenders

Author: Carrie Reeder

Sub-prime loans are becoming more readily available through traditional lenders. Even with a bankruptcy or foreclose in your credit history, you can still find financing for the purchase of your home. The key to sub-prime mortgages is to do your research and compare both terms and rates.

Your Credit History

A poor credit history doesn't have to send you running to sub-prime lenders. For one, you may still qualify for an A loan, reserved for people with good credit. If your bankruptcy was four or more years ago and you have established a good payment history since then, your FICO score is probably over 600, the requirement for an A loan.

Through FHA loan programs, you can apply for a loan after two years of a bankruptcy or foreclosure. VA loans also look more leniently on past credit problems. In the end, don't assume that because you have an adverse credit history you have to apply for the higher interest sub-prime loans.

Sub-prime Mortgages

If you find that you do have bad credit, you can still work with a traditional lender, who may offer you better interest rates. As financing companies expand their financing options, more and more companies are adding services for B, C, and D loans.

Sub-prime mortgages are based partly on your credit history, but largely on your mortgage or rent payment history. You will want to provide proof of your rent payments by sending copies of your rent receipts or checks. Mortgage payments can be verified through your credit report.

Sub-prime mortgages are just short term financing options. Once you have improved your credit history, you can refinance your mortgage for better rates.

Sub-prime Lenders

When you start your search for a sub-prime lender, include all lenders in your investigation. Request quotes from traditional lenders as well as those who specialize in poor credit financing. Compare everyone's financing packages to find the best rates and terms.

Ideally, you want to find a low APR with no prepayment fees. Unless you plan to keep your mortgage for seven or more years, it is probably not worth paying points for lower rates. You may also find that an ARM will provide lower rates with more buying power than a fixed rate mortgage.

About the author: See my recommended

Subprime Mortgage Lenders online. Carrie Reeder is the owner of ABC Loan Guide, which offers help with loans for people with bad credit .

The Online Mortgage Application Is The Best Option For Good & Bad Credit

Author: Carrie Reeder

Are you ready to fill out a mortgage application and get your home loan process going? Consider applying for your mortgage online in order to get the best interest rate and the best loan program for you.

There are many mortgage companies online that will offer you the option to complete your mortgage application online, which is very convenient. However, make sure that the mortgage company you apply with can provide you with multiple offers for one application.

The benefits to completing a mortgage application online with a company that will provide you with multiple offers are:

More Programs Available For People With Bad Credit - Credit problems are very common. One of the best ways to get approved for a mortgage loan with bad credit is to try a company online that will provide multiple lender offers. They just have more loan programs to choose from, so they usually have more sub prime mortgage programs available as well.

Mortgage Companies Will Usually Not Pull Your Credit Initially - Mortgage companies online will usually ask you to describe your credit and once you decide on which lender to work with, then they will pull your credit. You don't want your credit pulled very often, because your credit score can drop every time your credit is pulled.

You Can Quickly Compare Lenders and Loan Programs - This will save you a lot of time and hassle. Searching for the right home loan can be very time consuming. Try and contact each lender individually that you have an offer from and get more details about the loan program before you decide.

No Obligation - Oftentimes when working with a mortgage broker in the real world, once you have begun working with someone, you feel obligated to continue the working relationship. With an automated mortgage application process, you can receive offers with no obligation if you are unhappy with any of the loan offers you receive.

About the author: See my recommended Home Mortgage Lenders online for the lowest rates possible. Carrie Reeder is the owner of ABC Loan Guide, which offers help finding the best home mortgage loans .

Business Mortgage or Utah Mortgage?

Author: Adam Smith

Are you looking for commercial lender in Utah that will offer you a business mortgage? If you are new to Utah then there is one thing you should understand, Utah is a peculiar state. So if you visit your commercial lender in search of a business mortgage then they might offer up a puzzled look and then say, oh you mean a Utah Mortgage. To which you should reply, yes that is exactly what I mean, a Utah mortgage. Now that you have the Utah lingo down you will be able to work with you commercial lender and hammer out the details to your business mortgage, errr Utah mortgage that is.

Now you might ask, what exactly is the difference between a Utah mortgage and a business mortgage? And your commercial lender might have a really good answer. But chances are the commercial lender will come clean and tell you a Utah mortgage is really the same thing as a business mortgage.

Appealing to people searching for a business mortgage as well as to people searching for a Utah mortgage is just another way for the commercial lender to expand their reach. Most commercial lenders are really good people at heart and as much as they like to make money their real satisfaction is derived from helping people like you and me. The best Utah commercial lenders have learned through their market research and industry analysis that there are a lot small businesses searching for the aforementioned Utah mortgage. As a result they have broadened their informational marketing efforts in hopes of reaching out to those businesses that are in the market for a Utah mortgage.

Business Mortgage vs. Utah Mortgage

Of course, as you learn the terms and condition of the now ubiquitous Utah mortgage, one quickly realizes that it resembles the typical business mortgage. The average business mortgage is a financial instrument issued by your commercial lender to finance the cost of your office space. There are thousands of businesses that take advantage of a business mortgage so that they can occupy their own office building and be free of rental obligations and the like all the while earning equity in the land their office building sits on. Like you might expect, a business mortgage is secured against the building and the corresponding land. When you take out a business mortgage you also agree to make monthly payments on the mortgage, just like you do on your home mortgage.

Any Utah commercial lender offering a Utah mortgage is essentially offering the same product to your company. When you are issued a Utah mortgage you are also agreeing to pay a monthly installment to cover the interest on the loan and pay down the principal. Just like a business mortgage, a Utah mortgage is secured against the building and the property it sits on. As you can see, a Utah mortgage is basically the same thing as a business mortgage.

So next time you talk to your commercial lender in Utah, don't be fooled by their terminology. You can be confident knowing that the Utah mortgage your commercial lender is offering you is really just a good old business mortgage.

Adam Smith is an informational author for 10X Marketing.com To learn about making a positive

cash flow from investing in Real Estate, visit SNCLoans.com

About the author: None

Bad Credit Mortgage Lenders - The 3 Most Common Subprime Lending Scams

Author: Carrie Reeder

Legitimate sub-prime lenders provide a needed service to many wishing to buy a home. By offering financing to those with adverse credit, sub-prime lenders offer a valuable financing options. However, predatory lenders take advantage of people with poor credit by charging excessive fees, forcing foreclosures, or demanding titles. To protect yourself in your home loan search, avoid these common mortgage scams.

Excessive Interest Rates And Fees

Predatory loans require a borrower to pay excessive upfront costs or high fees. Some state laws protect consumers by putting caps on interest rates or fees. If you have bad credit, you should be paying no more than 8% higher than a conventional loan. Limits on closing costs vary, but anything more than five points should be viewed suspiciously.

Forcing Foreclosures

Another lending scam involves lending to people so they will be forced into foreclosures. These types of loans typically have monthly payments so high, you can't possibly pay them. They lure people in by promising guarantee approval or cashing out your equity, but they charge high interest rates. Before you sign a loan, be sure you can afford the monthly payments.

Demanding Title

A growing scam involves supposedly refinancing your mortgage, but in reality they scammer is pocketing your cash and title. There are many variations on this scam, but usually these con-artists will solicit those who have liens against their property or received a foreclosure notice. They make a promise of solving all your financial problems if you turn over your title and pay an up front fee.

The scammer will then file for bankruptcy in your name that will be dismissed since a third party initiated the process, but it will still leave a mark on your credit report. The scammer will also take mortgage payments from you, even though they didn't pay off the first mortgage. In the end you may lose your house.

Protect Yourself

Protect yourself from these scams by being a savvy shopper. Request quotes from several lenders before picking one. If you have any questions, talk with the lending company. Legitimate lenders will be happy to explain the process and answer any of your questions.

Once you pick a lender, be sure you read all forms before you sign the paperwork. According to federal law, you have three days to cancel your mortgage after settlement. You will also be refunded all fees, except the application fee.

About the author: See my recommended Su bprime Mortgage Lenders online. Carrie Reeder is the owner of ABC Loan Guide, which offers help with loans for people with bad credit .

Mortgage Brokering as a Freelance Opportunity

Author: Dan Farrell

Copyright 2005 MHG Consulting

Mortgage Brokering as a Freelance Business Opportunity In the mortgage business there are two foundational areas of involvement. One is the position of ""loan officer,"" the other is working as a ""broker."" The loan officer for the most part earns from what is called ""personal production,"" which means you are earning from what you are able to personally produce by bringing mortgage business into your employer's office. In some cases you may be paid a base salary and/or draw, but then you will be paid less in commissions by the company (broker) you are working for.

The second - and most potentially lucrative for you - area of involvement is the broker. Most people start out in the mortgage business by working as a loan officer, gaining experience and expertise, and later they consider opening their own shop by becoming a broker. This can be frustrating for the broker who is training loan officers, because they are continually losing their best loan officers and creating their own future competition.

The broker hires, spoon feeds and trains their loan officers and pays them a commission out of the profits they receive from the lenders with whom they work. As the loan officer begins to learn the business they obviously start thinking about leveraging themselves through the efforts of others so that they can earn from the production of others as the broker does.

~ The mortgage business is currently experiencing re-definition by new leaders in the industry who are breaking old traditional earning models. ~

Within the last few years new leaders in the mortgage industry have been breaking the old traditional earning models, and have created revolutionary new approaches which allow just about anyone to build a business in the mortgage industry with very little knowledge or experience. Beginners are now able to make more money - in less time - with less effort!

In the past you would have started out as a loan officer - generally with a bachelor's degree in finance, economics, or a related field, and earned $30,000 to $50,000 a year. You then worked locally where the broker who hired you was licensed to do business. For the most part your income level would have been limited until you gained enough experience to open your own shop.

The downside of this was that even when you advanced to becoming a broker yourself, you also took on the financial liability of running a business. Opening a local mortgage brokerage can often be very costly, along with the many additional liabilities that go along with hiring, training and running payroll.

New approaches to the mortgage business now allow you to build a mortgage business of your own where you call the shots and your income is not solely dependent on your own personal production.

Here are just a few of the new advantages...

* You can now earn on mortgage business on a national level. These new business models now allow you to operate under a ""branch license"" so you can do business just about anywhere.

* You have the ability to immediately leverage yourself. You can earn commission overrides just like a traditional Mortgage broker can. This means that you can build a national team throughout the United States and earn from their activity.

* No major investment - Instead of investing thousands of dollars in franchise fees you can get started typically for around $200.

* You are able to tap into proven business models that will help you teach and train your unexperienced loan officer recruits.

How much money can you make?

Let's compare the traditional model of earning only from your personal production with the model of introducing this concept to others and being able to leverage yourself:

The following will give you an example of what you would earn If you based your earning level on personal production at three different commission earning levels. The following are based on a hypothetical $200,000 mortgage.

One House per month Commission paid out 30% $1,050.00 Earned 64% $2.240.00 Earned 70% $2,660.00 Earned

Two Houses per month 30% $2,100.00 Earned 64% $4,480.00 Earned 70% $5,320.00 Earned

Let's look at this a different way that shows the power of leverage where you are not depending entirely on your own personal production. The following example assumes that you are earning 64% from two personal loans a month and are earning from the personal production of five others who are doing just one loan each per month.

Personal Production 64% Earning Level Your personal earnings - $4,480.00 Loans From 5 Others Who Are At The 30% Level Your earnings from their production - $5,950.00

Total Earnings For Month - $10,430.00

As you can see, it really is to your advantage to immediately involve others in the business. Your personal efforts along with the combined efforts of others can really produce some exciting numbers, in this example over $125,000 a year in income! The exciting thing about this is that you are not limited to just five people, you have the ability to grow a very large income very quickly.

Positive Points

1) You don't have to wait until you're experienced, you can start right away.

2) You are not limited to earning from the efforts of just five people, your earnings can come from as many personal recruits that join your business.

3) You can earn from the personal efforts of those you recruit as well as the people they themselves introduce to the mortgage business!

4) Your earnings can be generated from other team members throughout the United States representing every conceivable city you can think of or have never heard of.

Am I beginning to get your attention yet?

By now your mind might be flooded with additional questions. One prevailing question might be...

""There are already many people in the Mortgage business, how can we compete?""

To be perfectly honest, many people who are approaching the mortgage business with old worn out models are finding it difficult to survive, while companies and individuals who are embracing these revolutionary new concepts are exploding in growth.

In the USA, the housing market has been booming, but now it is leveling out or even shrinking in many areas. Most of those homeowners would love to save on their mortgages now, and their need is likely to increase if the market keeps going down. There are some very creative mortgage services available online, with some research you can make a very good offer to your customers.

If you want a real, tangible business that you can run from home, using the Internet, this is a good one to consider. Spend some time searching the web and reading up on this and I think you will find the information you need, and some good groups who will be happy to help you launch yourself into this business.

It's a win/win. You will be helping others at the same time that you build a long-term income and a business to be proud of, for yourself. A Caveat: With the mortgage and real estate markets 'red hot' this might be the perfect business to look into. I know someone who joined a less than reputable broker as a loan officer and found the whole experience to be very unsavory. But if you interview the mortgage company thoroughly and make sure to check with present loan officers and other employees on how they rate the company you should be fine.

About the author: Dan Farrell has been marketing online fulltime for years and he recently launched ""Newbie's Guide To Online Fortunes"" where you will find 100's more business start up ideas and other online business tips at: http://www.localbusinesstools.com/newbie.htm

Home Mortgage Loans After Bankruptcy - Can You Get Approved For A Home Loan?

Author: Carrie Reeder

After a bankruptcy, you can get approved for a home loan. Just be prepared to pay several points above conventional rates. However, if you have a large down payment or wait two years, your mortgage rates will improve to near conventional rates.

Dealing With A Past Bankruptcy On Your Credit Report

A bankruptcy will stay on your credit report for seven to ten years. However, it stops affecting your credit significantly after two years. So if you have established other good credit habits, you can qualify for market rates in no time.

But before you shrug off your bankruptcy, check your credit report to be sure that all accounts that were part of your bankruptcy are discharged. It's not uncommon for paperwork to not get processed, leaving a negative mark on your report.

Other Helpful Factors

A down payment of 20% is expected for conventional rates with a traditional loan. Anything less and you will have to either pay a point or more at closing or additional loan interest. The same is true with sub prime loans. However, larger down payments decrease your rates.

Significant cash reserves and a large income can also offset your credit risk. The amount you want to borrow is also a factor. The lower your debt to income ratio, the better score you will get.

It's also important to remember that not all lenders will treat your application the same. So it's important to shop around for the right mortgage with the right terms.

Shopping Mortgage Lenders

If it has been less than two years after your bankruptcy or you know you have poor credit, start shopping with a sub prime lender. They deal primarily with people who have adverse credit. They can also offer you a lot more options than a traditional lender.

For instance, sub prime lenders have easier terms to qualify for a zero down mortgage. You can also opt for a future refinance with your mortgage when your credit score improves.

Remember that you have many financing options for a mortgage, even with a bankruptcy in your past.

About the author: View our recommended

Mortgage After Bankruptcy Lenders.

How To Find The Perfect Bad Credit Mortgage Loan And Bad Credit Mortgage Company?

Author: Dean Shainin

When you have bad credit and are trying to get a mortgage loan, there are some important aspects that can make the process hassle free. Today's consumer is now empowered to get the best type of loan for their financial situation because of online Internet access and the many websites that cater to the needs of people with bad credit.

What Is A Bad Credit Mortgage Loan?

A bad credit mortgage loan is a loan based on the equity in your home. This loan can help you in lowering your overall interest payments and monthly payments, and also in consolidating all your debts. A bad credit mortgage loan is very helpful in repairing your credit.

By taking out a bad credit mortgage loan, you can make all the payments that you can afford. The most popular options for bad credit mortgage loans are cash out mortgage refinance, and a home equity loan. Both these options would allow you to rely on the equity that you have paid on your home, and use its value to come out of all your debt troubles.

With the help of a debt consolidation bad credit mortgage loan, you can move all your credit card payments with a high rate of interest into one lower interest payment. This would not only simplify the payment of your bills and lower your monthly payments, but it would also improve your poor credit situation. Eventually, you would notice an increase in your credit score.

In order to convince the lenders to provide you with a bad credit mortgage loan, you have to increase your down payment and cash reserves. The lower your credit score, the larger is the down payment required on the bad credit mortgage loan. A credit score of 580 requires a down payment of about 5%. Higher cash reserves would convince the lender that you would be able to cope up with the payments in case of any emergency.

Bad credit mortgage loans can also be taken through online mortgage brokers. However, you must thoroughly check the rates in the loan market before choosing any one lender so as to get the loan on favorable terms.

How Can I Find The Perfect Bad Credit Mortgage Company?

If you have a bad credit score, then you need to choose the best bad credit mortgage company if you want to get a mortgage loan. Since a mortgage is a very large investment, you need to choose the best company.

The most important factor to be considered is the interest rate. Thus you need to choose the bad credit mortgage company that provides you the most favorable rate of interest. You must also check that there are no hidden fees included in the plans of the bad credit mortgage companies that offer very low rates of interest. Thus, you need to understand all the terms of the rate of interest.

Another thing to check is the quality of the service provided by the bad credit mortgage company. You should not choose a company that offers extremely low rates of interest, but provides a horrible service. Instead, you should choose a bad credit mortgage company that offers a slightly higher rate of interest, but also cares for your needs and formulates its policies according to your interests.

Building societies are very efficient bad credit mortgage companies. They offer very favorable rates of interest, and also provide expert advice. High street banks are also a good option for a bad credit mortgage company because they have a greater coverage due to a number of branches. Though they may charge a higher rate of interest than the building societies, their introductory offers for mortgage deals are very favorable.

There are also the specialized bad credit mortgage companies that provide mortgages to people in special circumstances--i.e. when the people are not offered a mortgage by their building society or high street bank. This includes the people with a bad credit history.

If you can't find a favorable bad credit mortgage anywhere else, you may want to consult one of these companies.

With simple online access you can do a search on ""bad credit mortgage"" and have several sites that can help with your financial situation. A little research and time spent educating yourself can help you get your financial situation back in order.

About the author: Dean Shainin is a consultant specializing in home loans, strategies for loan financing, home equity loans, and consolidation loan information. To see a list of recommended loan companies, tools, resources, free quotes and information, visit this site: Home Loans

There's No Place Like Home...Except for Victims of Mortgage Fraud

Author: Ralph Roberts

THERE'S NO PLACE LIKE HOME ...

EXCEPT FOR VICTIMS OF REAL ESTATE FRAUD

DETROIT, MI - Dec 14 - During this joyous holiday season, when most Americans are gathering with family and friends, many others are coping with the impact of real estate fraud. Some have lost their homes to con artists preying on foreclosure situations, others have unwittingly become straw buyers in mortgage fraud set ups, while others are hiring criminal attorneys in the hopes that their naiveté will not ruin their credit scores for life and not land them in jail. How did the American dream turn into such a nightmare?

From handmade signs stuck on the side of local roads and on telephone poles to eBay listings seeking investors, late night infomercials and newspaper ads promising big cash at closings, real estate fraud and mortgage fraud have become part of America's landscape. The threat to families, communities and a national economy closely allied with real estate values cannot be underestimated.

""There is no doubt in my mind that the start of this century will be remembered as the decade of real estate scandals,"" said Ralph Roberts, nationally recognized real estate expert, author and speaker and creator of www.flippingfrenzy.com.

""Every law enforcement agency, every District Attorney and Sherriff's department I talk to is astounded at the sheer number of people being scammed, ripped off and financially destroyed through these scams. If we do not educate consumers and all professionals to protect themselves, there will be no end in sight.""

Roberts, who has been a national Top Superstar Realtor for the past 18 consecutive years, is no newcomer to real estate - yet even his office fell prey to scam artists. Today, Roberts is spearheading educational programs for professionals and consumers, building an information central website, www.flippingfrenzy.com and blogging to keep website visitors up to date with the latest occurrences.

As the word spreads through online communities, networks of real estate professionals and a website that is reaching a national audience, www.flippingfrenzy.com, American citizens are starting to respond. In mid-December, three very frightened individuals came to Ralph's office, anxious because they had learned by reading his website that what they had experienced was real estate fraud. Their fear is very real - - and so is the possibility that they may face criminal charges, even though they had no idea that they were being involved in fraudulent transactions.

Ralph's anti-fraud efforts include speaking to real estate professionals, mortgage professionals, lawyers, appraisers, notary publics and title industry professionals. His presentation at the National Association of Realtors (NAR) for Superstar Realtors earlier this year was a great success, as was a seminar for real estate brokers held at the Real Estate Education Center. The seminar, which will soon be available as a download at www.flippingfrenzy.com, was presented for real estate agents and brokers who need to know how to protect themselves, their clients and their businesses when presented with a questionable buy or sell transaction.

So how do you keep your home safe from real estate fraud?

* A certain percentage of real estate fraud transactions could be completely eliminated by educated consumers refusing to sign blank documents or take part in questionable sales or purchases.

* The promise of fast cash to pay credit card bills is tempting - but it's not how you want to remember the holiday season.

* Take a good look at the HUD 1 form - if there's a discrepancy in numbers, you may be headed into serious trouble.

* Any time someone advises you ""don't worry, this is fine,"" it's time to start worrying. Real estate transactions are complex, but they should be straight-forward.

* When anyone advises you to deposit money slowly into the bank, a huge light bulb should go off - pay attention. Large legal deposits do not require a slow deposit stream.

* Never sign any documents that are blank, never sign anything that you do not understand and make sure that your own independent advisor explains everything to you. That includes federal forms that have been retyped or where the print is almost too small to read.

* More tips will be updated at the www.flippingfrenzy.com blog as they come in and as we learn more about how to thwart real estate fraud. Educated consumers are the first line of defense.

About the author: Ralph Roberts, recognized by TIME Magazine as ""the best-selling REALTOR® in America,"" is the owner of Ralph Roberts Realty, LLC, and author of Walk Like a Giant, Sell Like a Madman, Real Wealth By Investing in Real Estate and 52 Weeks of Sales Success. He has been the number one residential real estate agent for over a decade and is a popular motivational speaker. Ralph Roberts Realty, LLC is located in Warren, Michigan and online at www

Smart Mortgage Strategy for Average Joe

Author: Natalie Aranda

Buying a home is probably the biggest financial decision most people will make in their lifetime. The percentage of down payment you put in will make a huge difference for the health of your personal finances for years to come. What percentage of down payment you should choose is largely dependent on the current mortgage rate.

20% Down Payment

It's common for a lender to require 20% down payment from homeowners for mortgage financing. The initial payment does look hefty, but the homeowners won't be required to purchase mortgage insurance at least. If the mortgage rate is high, large percentage of initial down payment will reduce the total cost of home ownership over a course of 15 or 30 years of your mortgage payment unless the rate is so high that you know for sure you will refinance or remortgage in a few years.

0% Down Payment or 100% Mortgages

When economy is slow and the mortgage rate is low, it is possible to obtain 100% mortgages that cover the full value of a property, without the requirement of a down payment.

100% mortgages are designed particularly for first time homeowners who do not have a deposit available. If the real estate market falls in coming years, you may end up owing more money than your house is worth. In a rising property market, the value of your property make quickly exceed the amount of mortgage you own.

Cash Back Mortgages

In a slow real estate market, some lenders are even pushing for A cash back mortgage for borrowers with good credit ratings and the backend of a reasonable personal wealth. Borrowers can borrow the amount of money that is more than the value of the property they'll purchase. This is even more common for mortgage refinance when the mortgage you own is only a small amount of the value of the property.

Some homeowners may put the extra cash injection into home improvement, while other actually put the cash in low-risk investment (such as S & P 500 index fund) and hope to make some money from the investment as the economy and stock market and recover.

It's easy and handy for anyone to compare the pros and cons of each option with a mortgage calculator. It's strongly recommended to consult a experienced personal financial planners especially if you are thinking of more risky 100% mortgages or

cash back mortgages .

About the author: Natalie Aranda is a freelance writer. She writes about business, travel and family. She contributes to 1st Direction Mortgages .

Reverse Mortgage - Reverse your Monthly Mortgage payment!

Author: Troy Shellhammer

One of the most frequent questions that we receive when assisting with Reverse Mortgages is, ""If I already have a mortgage, can I still do a Reverse Mortgage?"" The consensus seems to be that most people believe the answer to this questions is no. In reality, however, the Reverse Mortgage is a system that allows the borrower to reverse their mortgage payment. Instead of paying from out of their pockets every month, the borrower uses a Reverse Mortgage to end their mortgage payments forever.

Now because the Reverse Mortgage is a Federally guaranteed and regulated program, there are some limits that should be talk about with the Reverse Mortgage. One is the fact the Reverse Mortgage is designed to utilize the equity in the home, there are limits to the amount of money that a Reverse Mortgage can produce, and of course, how much mortgage can be paid off. A good way to know if a Reverse Mortgage will perform efficiently for you is first judge whether or not your current mortgage is under 70% of your home's appraised value. This is the maximum lending ceiling for most cases. A Reverse Mortgage Lender will provide the exact figures.

Next, the money that you will receive from a Reverse Mortgage MUST go towards paying off your mortgage. Any money that is left over will be available to you with no restrictions, but only after your current mortgage is paid off in full. This should be a goal for Reverse Mortgage applicants who have a large first mortgage or home-equity loan. An obvious benefit of using the Reverse Mortgage to remove the current mortgage is the added income you will receive from removing your monthly mortgage payments. Reverse Mortgages never require you to make a monthly payment for the rest of your life, while you are a resident of the home.

The Reverse Mortgage is a product that is useful to remove monthly payments on credit card debts, medicine, and medical bills. The idea behind the Reverse Mortgage originated in Europe, and has been the most popular senior financial vehicle in England, Germany, France, and the Scandinavian nations for the last 35 years. Although the United States has only perfected the safety and administration of the Reverse Mortgage in the last 15 years, its popularity has exploded in the last decade. It is at a point now that we are experiencing a 200% growth from each year to the next in the number of seniors around the country joining the Reverse Mortgage program.

With social security and Medicare benefits not providing the amount of income that seniors expected to last them through their retirement, Reverse Mortgage are a tax-free, safe, and minimal out-of-pocket-cost strategy that does not affect any government benefits or income, protects the home from default and foreclosure, and relives the senior of the stress of monthly mortgage payments. Most people who do a Reverse Mortgage are ready to enjoy their retirement, travel, and ""Do Stuff!"" This is the reason the Reverse Mortgage is now becoming the one of the most popular senior financial vehicles, not in Europe, but in the United States.

About the author: Troy Shellhammer is a Reverse Mortgage specialist with Next Generation Financial Services, a division of 1st Mariner Bank. He advises seniors on the Reverse Mortgage process and produces Reverse Mortgage loans nationwide. Please visit his website at http://www.reversemortgagenation.com/troyshellhammer or call 1-888-9 REVERSE for any questions, information, or an estimate on what you or your friends and relatives may receive with a Reverse Mortgage.

Get yourself busy with mortgage financing

Author: Stephen Kreutzer

These days, thanks to the Web, it's child's play to find anything we want concerning mortgage financing. There was a time you had to look into a dictionary in order to come across somewhat relevant to mortgage financing - can you remember? Not a very convenient circumstances, am I right? These days there's plenty of info available due to the fact that the World wide web is getting bigger and bigger with every hour. The only thing we need is a place to begin.

Ask Jeeves, MSN or Yahoo are most often a good idea to start your search on mortgage financing -- especially if you don't know a lot about subject. Where do we end up? The search engines will more than likely provide more results on mortgage financing than you could ever digest. I hope you have fun sorting all the ideas to sort out all the best pages. Did you ever come across ""internet portals""? Usually they are a great point to begin researching. Use the free internet portals and collect tons of mortgage financing advice that qualified professionals offer for you.

Where would you want to go with your mortgage financing problems? The best way to get your hands on qualified material is to sign up with a mortgage financing group or community. If you wish to get in touch with a mortgage financing expert you can write to a forum or sign up with a mortgage financing group. Moreover, a search engine assists you to get started, just do a search on ""mortgage financing forum"" or ""mortgage financing community"".

An excellent way to get a lot of Useful mortgage financing material delivered by email is a so-called ""electronic magazine (ezine)"". You could subscribe to an electronic magazine the same way you would do with your newspaper. Most often they are free of charge, however sometimes the provider of the ezine charges a fee. If you've paid for a mortgage financing service, you can assume very qualified tips in return. On the other hand: why not develop into a mortgage financing specialist by yourself and earn another paycheck?

For those who don't feel like reasearching sources on mortgage financing, info products are possibly an excellent idea. If you can spend some bucks and don't have the time to research the Web, go and buy an ebook or expert interview on DVD. So why not take the easy way?

If you ask for dependable mortgage financing advice fast, current online resources on the 'net are extremely valuable. Now it's your job to find out anything you may need about mortgage financing!

About the author: About the author: Stephen Kreutzer is a freelance publisher based in Denver, Colorado. He publishes articles and reports in various ezines and provides finance resources on Finance Only!

Assumption, Assuming a Mortgage

Author: Jennifer Hershey

An assumption is the agreement between the buyer and the seller where the buyer takes over the payments on an existing mortgage from the seller. Assuming a mortgage can usually save the buyer money since this is an existing mortgage debt, unlike a new mortgage where closing costs and new, probably higher, market rate interest charges will apply.

This type of mortgage scenario might just be a nice fit for someone who is looking to save money on closing costs and assume a low interest rate.

Another benefit associated with assuming a mortgage is that a portion of the mortgage has already been paid by the seller. Also, there is little doubt that the house has appreciated since the seller purchased the house, so the mortgage you assume will be less than the actual value of the home.

The assumption of a mortgage loan can be tricky, and is not without all of the paper work that accompanies traditional mortgages. So be sure to consult the appropriate parties such as a real estate lawyer or realtor to help point you in the right direction.

Without a doubt, the number one benefit to an assumption is the money saved in closing costs. So if this sounds like a fit to you, than it is definitely worth the time you take to research it.

About the author: Jennifer Hershey has more than twenty years of experience in the Mortgage Industry as a loan officer. She is the owner of http://www.explainingmortgages.com/, a mortgage resource site devoted to making mortgage terms and products easy to understand.

The Right Time To Pay-Off Your House Mortgage

Author: Sintilia Miecevole

If you are in dire need of money and don't have the financial means for a large cash transaction to buy a house, then opting for a home mortgage is worth consideration.

Basically, a mortgage refers to a long-standing credit that a debtor obtains from a financial institution or from a property seller.

In most cases, the house is the usual collateral for the mortgage, thus the term ""home mortgage"". In turn, the mortgage lender will be entitled to some legal rights upon the property as long as the mortgage is in full force or until the debtor pays back the loan.

A home mortgage serves as security for loans, thus giving the lender the power to acquire the property through foreclosure in the event that the borrower fails to pay the loan on time.

Generally, a home mortgage is comprised of a large loan. That's why in most cases a home mortgage can take 15 to 30 years before the borrower can pay back the due amount.

In a home mortgage, the due amount to be paid by the borrower stipulates the principal amount of the mortgage and the interest owed relative to the outstanding balance. The real estate taxes and property insurance are also factored into the total mortgage balance.

Some home owners who find it difficult to make their mortgage payments may opt for refinancing of their mortgage. But for those who wish to pay off a home mortgage quickly, there are things to be considered...

First, make sure you have a stable source of income. Organize your overall financial assets to ensure that paying off your mortgage will not over-extend your cash flow. There are many such considerations that should be carefully planned and organized before resorting to pay-off your home mortgage.

It's also important to your financial security to have a ready reserve of cash just in case of emergencies. This can be in the form of stocks and bonds, a bank savings account, or any other readily available form of cash.

Paying off your home mortgage can be a rewarding experience, but be sure to consider your overall financial status before making the decision to do so. The wrong decision can put you at great financial risk.

If you think that you are ready for the mortgage ""experience"" and that you have your finances securely organized, then by all means, go for it. After all, nothing beats a worry-free, mortgage-free financial status.

About the author: You can find real estate including agents, houses for sale, rentals, commercial property, modular homes and refinancing on http://www.fehouse.com with host, Sintilia Miecevole. Be sure to visit http://www.fehouse.com for listings, mansions and more.

What Happens To My Mortgage When I Sell My Home

Author: Raynor James

You've decided to make the plunge and sell you home. More than a few people have innocently asked me, ""What happens to my mortgage when I sell my home?""

What Happens to My Mortgage When I sell My Home

If you own a home, you undoubtedly are carrying a mortgage on it. A mortgage is simply a loan from a bank or financial institution for percentage of the value of the home, which you pay to the person you purchased the home from when you bought it. Depend on the type of mortgage you have, the amount due on the loan should have decreased during the time you lived in the home and made monthly payments.

When you go to sell your home, the simple question is what happens to the then due balance on the mortgage? The simple answer is the financial institution is going to be paid out of the proceeds of the sale before you see anything. As a result, it is critical that you calculate in the loan repayment amount when determining if it makes sense to sell a home. If you have a home worth $300,000 and owe $280,000 on the mortgage, you are going to realize little or no profit after the costs associated with the sale and probably shouldn't sell it.

If you have plenty of equity built up in the home, your mortgage can still end up costing you more than you originally expected. Many modern mortgages have restrictive penalties built into them. These penalties are designed to encourage you to hold onto the home for a set period of time, usually a couple of years, so the bank can recover a certain amount of interest up front. Put another way, the bank is trying to lock in a certain amount of profit on the loan.

When it comes to these restrictive penalties, lending institutions get pretty creative. Many will include a penalty if you sell or refinance the property within the first two years of the loan period. The penalties can be anything from the equivalent of three months of payments to a preset amount or even a percentage of the loan. State law often influences these issues, so you need to read your mortgage loan documents closely.

Regardless, you mortgage is going to be paid off as part of the sales process. The exact amount will depend upon the nature of your loan.

About the author: Raynor James is with the FSBO site - http://www.fsboamerica.org - FSBO homes for sale by owner. Visit our ""sell my home"" page - http://www.fsboamerica.org/seller.cfm - to sell your house yourself with a free 1 month listing.

Choosing the RIGHT MORTGAGE BROKER for you!

Author: Harry Pontikis

It wasn't so long ago, that when you wanted to buy a house, you simply put on your best suit and went to see your local bank manager and accepted whatever loan he was prepared to offer you. It may not have been the best loan, or the cheapest, but it was certainly a straightforward process.

These days with new lenders and new products popping up almost every day, there are a huge range of loans, offers and specials on the market. There is certainly a much greater chance that the right loan for you is out there - the biggest challenge, is finding it!

This is where the finance broker comes in. Instead of you going from one lender to another, making endless phone calls, researching on the internet and sifting through the endless amount of industry jargon, a finance broker can do it all for you. If you choose the go-it-alone route, you might be lucky to compare three or four different products. Brokers can compare hundreds!

A Home Loan broker will also help you understand the various deals that are on offer, explaining all the features and details that might make a big difference to your repayments. And what is more, your broker will lodge your application and chase it through with the lender - so you don't have to. Your broker is a single point of contact throughout the entire process and has a whole processing team supporting them.

How do I recognise a good one from the rest? - The mortgage broker you choose should offer a free service as their commissions are paid by the banks.*

- They should be Members of the Mortgage Industry Association of Australia (MIAA) as membership is offered only to brokers who have undergone thorough training and maintain high technical and ethical standards.

- The broker should also subscribe to the Credit Ombudsman Scheme which is a voluntary dispute resolution scheme. This means that if there is a dispute between you and your broker, you can take advantage of the independent dispute resolution process.

- Ensuring the broker is also part of a large and reputable Aggregator, ensures they have access to a large range of lenders. One Aggregator (Professional Lenders Association of Australia) also has a minimum industry education and compliance criteria for all their members.

- The reputation of the broker is essential to using them. Ask friends, your family and business contacts you have, to recommend brokers they have used and are happy with.

* If you have complex commercial requirements, or ask the broker to use a lender which does not pay commission, you may expect to be charged a small brokerage fee

Where do I find a good mortgage broker?

Choosing a mortgage broker is like selecting any professional - you need to find one who is experienced and whom you can trust. Getting their details from a friend, a family member, an Association you belong to or even your employer is often a good way to start.

Checklist for choosing a broker: YES or NO - A member of the MIAA - A member of a large Aggregator (eg. PLAN or AFG) - Part of a reputable company network with head office support and training - A full time finance broker - Happy to disclose fees and commissions - Is aligned to large organisations and provides their staff and members with finance - Covered adequately by Professional Indemnity insurance - Pays its Lending Consultants the same rate - independent of which lender or loan you choose.

Some questions to ask:

- How many banks and financial institutions can they offer?

- Do they have specialist software to compare loan products?

- Do they have electronic lodgement capabilities with the lenders?

- Does the broker undertake ongoing professional training?

- What is their organisation's customer charter or values?

- What privacy guidelines do they adhere to and what happens to your personal information?

About the author: Harry Pontikis is the Director of Chocolate Homeloans and has a lifetime of experience in delighting people with his honesty, integrity and professionalism. Harry leads a team of 48 experienced finance brokers who specialise in helping people realise their dreams through the purchase of their first home or investment properties. http://www.chocolatefinance.com.au

Is an Interest Only Mortgage the Right Choice for You

Author: Tim Garvey

If you're looking to purchase a home anytime in the near future, I'm sure you've at least heard of a mortgage program that is gaining popularity known as an Interest- Only Mortgage. Unlike more traditional mortgage programs that require you to repay a portion of your principal with each payment, these programs only require interest payments. The payments are, therefore, much less. Does having a lower payment make this the right choice for you?

The answer depends on what I call your financial discipline. Do you have the ability to take the amount you are not paying back on your mortgage each month and put the money to some better use? Ask yourself these questions.

1. Do you pay your credit cards in full each month or at least make substantially more than the minimum monthly payment? 2. Do you contribute from every paycheck to your 401K plan or some other tax deferred savings plan? 3. Do you have a personal financial advisor such as a CPA, investment advisor, or financial planner? 4. Do you own any other investments other than real estate?

If you can answer ""yes"" to at least two of these questions, you've probably got the financial discipline to find a better use for the monthly principal payment on your mortgage other than paying down the mortgage. Be sure to ask you mortgage professional to review all of your options with you.

About the author: Tim Garvey is a Certified Mortgage Banker by the Mortgage Banker's Association of America. Tim believes in providing mortgage information with no strings attached and can be reached via his website www.TGarvey.com

Reap great profits with a buy to let mortgage

Author: Nidhi

Reap great profits with a buy to let mortgage

For anyone looking to invest in the property market, the options are galore. You can either invest into commercial properties or residential properties. Most people buy real properties like homes and buildings and then put them back into the market for sale at a price higher than the one they paid for buying it initially. Another kind of property investment that is known to reap great returns is that of buy to let investment .

Buy to let investment entails buying a particular property with the intention of letting it out. Often investors of such rental properties are known to earn great profits via rental incomes. But the question is how will you purchase this property? The answer is quite simple: by availing a buy to let mortgage.

A buy to let mortgage is a sort of secured loan that allows you to buy a particular property with the purpose of letting it out on rent. This mortgage is basically availed against the property that you are buying, thus giving your lender a legal claim on it. There are several factors that lenders look into before lending you this mortgage . Various factors like the stability of your job, your credit history, value of the property you are buying etc. will determine whether your mortgage gets approved or not. Most lenders also look into your income to ascertain whether you are going to completely depend on your rental income for your installments or you have a back up .

In all probability you will be able to finance 85% of the property's value via the mortgage, with you being expected to pay 15% of the value. The market is abounding with choices when it comes to buy to let mortgages. Since the competition in the mortgage business is so fierce, you will find a good number of lenders hankering after your business. This increases your chances of getting a low rate of interest for your buy to let mortgage .

A word of caution for all buy to let mortgage seekers. Before you take your business to a particular lender , you must ensure the following points:

. Is the lender or the lending institution FSA authorised? You can check with FSA's register on its website. . Does your lender have access to a lot of different buy to let mortgage products? . Are they able to arrange a buy to let mortgage for you within a span of 10 days?

Although, there is a system in place, which you can approach in case anything goes bust; yet it is not fool proof. Financial Services Compensation Scheme will not cover buy to let properties unless the borrower uses 40% of the property for residential purposes. So, remaining alert is always the best thing to do.

About the author: Seek.uk

Nidhi

http://www.seek.uk.com

Mortgage Regrets That Are Best Avoided

Author: Darren Bent

In any person's lifetime, it is unlikely that they will ever make any financial commitment that will be larger than that of their mortgage. Yet not many take the trouble to ensure that they have taken all the necessary precautions to make sure that he biggest financial deal of their lives goes through without a hitch. And that there are no regrets over the sound financial investment that is their mortgage.

Instead many tend to concentrate all their efforts in securing the mortgage. There is nothing wrong with this of course, only that on securing a mortgage, they should also carefully look at insurance cover on their mortgage so that if anything does go wrong, they will not lose their family homes.

There are some deep and searching questions that anybody taking out a mortgage needs to ask themselves. They include the following;

What if they suddenly lost their current job or source of income? What if they woke up to the fact one day that they were unable to work? This can easily happen through total disability. One can even find themselves in the unfortunate situation of being permanently and totally disabled. Actually it happens all the time as somebody who watches the news regularly will tell you.

In other words, just a little bad luck could easily make you lose your most valuable asset which you have worked very hard and long to acquire. And all this will be happening at a time when you need it the most. Nobody wants to face the prospect of losing their house at a time when they are unable to work anymore. It may be virtually the only asset they have left. It could also be the only inheritance left for their children.

All this risk is usually wiped away or covered substantially by simply acquiring a good Mortgage Protection insurance cover.

About the author: Darren writes for several different uk financial websites including http://www.rhinolifeinsurance.com and the Rhino range and http://www.goodinsurance.com

Mortgage Refinancing Tips

Author: Dan Lewis

As interest rates continue to creep upwards, many home owners are looking at refinancing options. Here are some mortgage refinancing tips.

Mortgage Refinancing Tips

Rates have been increasing steadily for the last six months. These increases are expected to continue into 2006. Such increases are putting pressure on homeowners who took out adjustable rate mortgages or have been borrowing money against a home equity line of credit. For people in this position, refinancing into a fixed rate mortgage is starting to look very attractive if for no other reason than to avoid future bumps in the rates.

If you are considering refinancing your mortgage, there are a couple of things to keep in mind. Unlike the rushed process of trying to get funding for a purchase, you have more time to evaluate and compare mortgage options. Shop around and find out what different lenders are offering that fit your potential needs.

1. What is your goal? - Is your goal to lower the monthly payment or to simply try to pay less interest? While these questions may seem like the same thing, a lower interest rate can be translated into the same month payment amount, but with more of the payment being applied to the principal of the loan. This, of course, helps you pay off the note faster. The bigger point is to simply figure out your goal and find a loan that meets it.

2. Shop Lenders - One of the best ways to do this is seek a pre-approval from a variety of lenders. You might be concerned this will hurt your FICO score, but refinance credit requests often don't ding your FICO. If you're not sure about this, simply don't supply the lender with you social security number. They will give you a less definite loan offer, but you'll still have the advantage of reading the fine terms to make sure it accomplishes your goals.

3. In Writing - Once you choose a lender, you need to nail down three important things in writing. The first is the interest rate. The second is the closing costs, if any. The third is any pre-payment penalty associated with the loan. If the lender drags there feet on any of these, consider walking away from the loan.

Refinancing a mortgage is a less stressful process when compared to getting a purchase loan. You are in the catbirds seat, so don't let lenders push you around.

About the author: Dan Lewis is with http://www.gwhomeloans.com - a San Diego mortgage brokers providing San Diego home loans. Visit http://www.gwhomeloans.com/services.html to learn more about options on San Diego mortgages from a San Diego mortgage broker company.