Why a homeowner or other mortgagor in NY and other judicial-foreclosure states should stop paying the mortgage if financial difficulty is expected in 6 months, invite a foreclosure action, defend the action timely and vigorously (at low cost), and use the extended time to obtain a reasonable modification agreement or find a buyer to get [...]
Posts under ‘Mortgage’
What is the difference between a mortgage APR and Interest Rate?
My mortgage interest rate is 6.875% and the APR is 7.504% Does the APR of 7.504% sound right if the interest rate is 6.875% ? My mom said that the 2 numbers should be closer together than that. Also, my mortgage banker never even mentioned an APR, and since we are 1st time home buyer’s, [...]
Nov 2006 Peter Schiff Mortgage Bankers Speech Part 3 of 8
In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.
How can I be on our mortgage without an existing credit score?
My husband and I want to apply together for a mortgage, his credit score is excellent, mine is non-existent since I have been in the US for only 3 years and have used credit cards related to my husband’s account only. Is there still a way for me to be on the mortgage?
Will my income [...]
Are there any mortgage companies that work with a 585 score?
I’m in the market for a house, but my score is kinda low, does anyone know of a mortgage company that can work with a 585 score? I know interest will be high but I’m ready to be a home owner. DTI is good.
The dollar carry trade, my mortgage bankers presentation
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What is the difference between Collateralized Mortgage Obligations and other mortgage backed securities?
How do CMO’s differ from any other mortgage-backed bundles? I know fannie mae finances primarily by selling the latter, so what is the benefit in CMO’s in comparison to them?
What is the difference between a mortgage and a home equity loan?
I own a home that is paid off but would like to take out a loan to fund some home improvements as well as help my parents pay off their home equity loan. Given this scenario can I take out a mortgage since mortgage rates are lower or am I limited to a home equity [...]
Mr Mortgage March Foreclosure Report – CRISIS ALERT!
Visit my new blog… mrmortgage.ml-implode.com Mr Mortgage March Foreclosure Report – Crisis Alert