Chapter 13 Refinance Mortgage Loan

The Chapter 13 bankruptcy loan is a changing but still available product offering from many wholesale lenders. Since August 2007 the secondary mortgage markets have been extremely volitile pushing many lenders to cut cut off funding for debtors with spotty payment history. Two or more 30 day lates on a mortgage or trustee report since your Chapter 13 file date has procluded many debtors from seeking relief from many so called "subprime" lenders.These subprime lenders that are still in business as of this article are funding Chapter 13 loans with the same/similar guidelines as FHA, but charging much higher interest rates than the FHA product.

The only good reason at this point to use a "subprime" lender to buyout a chapter 13 is if your loan amount is non-conforming to FHA loan limits* Please note that the FHA loan limits are to be raised pending the implementation of the FHA secure program. Check the HUD.gov site for loan limits in your county/State*. Many mortgage brokers are trying to steer customers into harms way because of their own ignorance or lack of a license to do FHA loans. Always ask your broker if they are an FHA approved lender/broker. FHA was designed to help the subprime borrower. The only limitation on FHA is you cant lie about your income, and you cant borrow over the median sales price of house in your county. LTV restriction almost save the borrowers from themselves naver on a BK buyout will the LTV be over 85% which preserves equity.

The FHA loan has taken the place of the predatory practices that were common from many subprime lenders. Many brokers have misconception about bankruptcy refinancing and FHA loans I.E. The debtor must have been in an FHA mortgage prior to bankruptcy, to refinance with FHA out of the bankruptcy. This is completely untrue! The debtor can even leave a bankruptcy open with FHA with the appropriate motion from the court! Many people dont realize the power of FHA lending. Work with an FHA lender and an obvious expert.

Please visit http://www.bankruptcyhomeloan.org for more info! See why Mr. Peck is funding loans while other loan officers are funding career changes. Work with a chapter 13 mortgage specialist and get it done right the first time!

Shawn M Peck

Branch Manager

Nationwide Equities Corporation
811 Church Road Suite 160
Cherry Hill NJ 08002

856-773-0226 Ph
201-299-2556 F
856-796-0920 C
http://www.bankruptcyhomeloan.org

Equal Housing Lender. Nationwide Equities Corporation. Nationwide Equities Corporation is a Licensed Mortgage Banker in CT, CO, DE, FL, IO, MA, MD, NJ, NY, PA, & SC. Registered Mortgage Broker in CT, DE, FL, IA, MA, MD, MS, NJ, NY, & PA.Some products may not be available in all states.

Shawn M Peck is branch manager for Nationwide Equities Corporation in Cherry Hill. As a loan officer Mr. Peck writes business exclusive to bankruptcy and foreclosure.

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Second Mortgage - Home Equity Vs Refinance

Why should you take out a second mortgage or a home equity line of credit instead of refinancing?

Well...You Shouldn't!

Why Not?

1. Second Mortgages usually have an interest rant that is twice or even three times as high as your first mortgage rate. You can refinance instead and keep a very low rate. In the long run a second mortgage will just cost you money in interest charges.

2. Home equity lines of credit are designed for mortgage account executives (salespeople) to sell you on using it like a credit card attached to your home. They will try to convince you to use it over and over again.

3. A refinance loan is better for the equity in your home. Very few companies will refinance your home at 100% of it's value without forcing you to take out a second mortgage. You don't want to use 100% of your equity because that means you no longer have that equity to fall back on in emergency situations.

4. Second Mortgages and Home Equity lines of credit are designed to provide account executives (salespeople) with another tool to sway you into putting another commission in their pocket.

5. Your equity is a precious thing and should not be used for unnecessary add ons or impulse buys. If you don't need it and there is even a slight chance you can't afford it, then don't get a second mortgage to buy it.

The only reason that I would ever recommend a second mortgage or a home equity line of credit is in an emergency situation. Only when there is no other option and you must take out a loan would I recommend either one of these options.

About the Author

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Mortgage Refinance Information: 3 Tips to Help You Save

If you are in the process of refinancing your mortgage, you want to avoid overpaying for your new mortgage. Mortgage companies and brokers have clever ways of disguising junk fees and inflating the interest rate you receive. Here are several tips to help you avoid overpaying when refinancing your mortgage.

Mortgage Refinance Information - Shop for the Best Lender

Comparison shopping and doing your homework is the best way to ensure that you don’t pay too much when mortgage refinancing. When you compare loan offers the best way to make a line-by-line comparison is to use the Good Faith Estimate. Mortgage lenders are required to provide the Good Faith Estimate upon receiving your application; however, most mortgage lenders will give you this document simply by asking for it. When you compare mortgage offers using the Good Faith Estimate it is important that you look at all aspects of the mortgage loans. Many homeowners think choosing the loan with the lowest interest rate means they will get the best deal. These homeowners frequently overpay with lender fees and closing costs.

Mortgage Refinance Information - Watch out for Retail Markup

The interest rate you qualify is an important aspect of the mortgage. Mortgage companies and brokers routinely mark up interest rates to boost their profits. Because you are already paying origination fees for the loan, it is possible to avoid paying retail markup and get a better mortgage interest rate. The markup mortgage companies add to your mortgage interest rate is called Yield Spread Premium. Just like knowing the blue book price of an automobile gives you an advantage when negotiating for price, knowing the wholesale interest rate you qualified will help you avoid paying retail markup of your mortgage interest rate.

Mortgage Refinance Information – Choose the Right Mortgage Type

When it comes to refinancing your mortgage loan, you have three choices for the type of loan you choose. You can choose mortgage refinancing with a fixed interest rate, an adjustable interest rate, or a hybrid loan with both types. The type of mortgage you choose depends on your financial needs for the loan and how much risk you can tolerate with your finances. Fixed interest rates offer the highest degree of security and have the advantage of predictable payments you can plan your budget around. Adjustable Rate Mortgages come with lower rates; however, there is much more risk and you need to understand what you are getting into. Hybrid loans offer both types of interest rates, there is a period of fixed interest payments before the loan is converted to an adjustable interest rate.

You can receive more mortgage refinance information, including costly mistakes to avoid by registering for a free mortgage tutorial.

To get your free mortgage tutorial visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. For a free copy of "Mortgage Refinancing - What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.

Claim your free mortgage refinance information guide today at: http://www.refiadvisor.com

Mortgage Refinance Information

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Mortgage Refinance With Bad Credit - How to Start?

In the last two years, thanks to the down economy, one of the most important topics that has been discussed often is the homeowners suffering high monthly payments and high interest rates. Many property owners are falling slowly backwards on payments resulting in rising market for the mortgage refinance with bad credit.

Is it currently the best time to apply and why?

As a matter of fact, it is the best time to apply and you should not miss this golden chance. The newest data from the Mortgage-Bankers-Association (MBA) reveals fewer foreclosures are being reported. Unless there are new strategies for relief, the rise could be higher than now by the year 2011.

Hence, lenders are working daily to assist homeowners getting a reasonable solution for their debt back-payment. In addition, the Feds lowered the rates to 4% making this the most opportune time while mortgage refinances rates low as 4%.

What is the #1 mistake that almost every one does?

In the context of mortgage refinance with bad credit, when interest climbs and homeowners are approved for loans that cannot pay back with their income, a bad cycle begins. Certain lenders took advantage of the system of mortgage refinances options and pushed approvals for unqualified applicants and this is the last thing you should do. You will never be out of your debt.

OK, but how to optimally avoid this mistake?

The best advice comes from the FEDs is telling us to keep monthly payments within one quarter of your annual income. I.e. 25% of your income should be your monthly installment and not higher. Otherwise, you will not be able to payback and the dead-end starts by having to pay more than 50% of your income as monthly installments.

How and where should you control all the reports?

Three important Bureaus hold all the financial reports. Experian, Equifax, and TransUnion. It is strongly recommended to get a free report for yourself from each agency. In case you experience "bad credit reports" post a reply as soon as possible to mention your reasons. The report may read; "poor credit personal loan", or "stopped paying on amount due".

Here is your road map to become debt free!

If you are at a disadvantage because of your low score financial history, you can work to change this problem.

• You can keep your visa cards because the more you have the better. Lenders will look at your buying limits with each card and base value on this ratio.


• Take several of your debts to put on a personal loan for debt consolidation and pay only one installment a month.

Finally, keep this advise into account!

It is not a good idea to owe more on your home than the value you are backed into a corner. If you are forced somehow to sell, you will definitely lose money. It is not reasonable that you will be able to keep up with the taxes, insurance and payments. This is why a mortgage refinance with bad credit program was formulated for the homeowner.

Are you interested to uncover a revolutionary method to get for you poor credit loans? Good news for you! Take the time now to reveal all the hidden tips and methods For FREE at: => http://www.your-online-info.com/finance/.

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Bad Credit Mortgage Refinance - Advice and Help

Most likely, your home will be the most expensive thing you ever own in your life. It is only normal that you would do anything in your power to keep it. However, home ownership can be a financial nightmare, but that can change with mortgage refinancing. Getting a more affordable monthly mortgage payment will help you keep your home, and strengthen your finances.

However, just because it is possible to get a bad credit mortgage does not mean it is easy. Here are some important questions you must ask yourself prior to applying for a bad credit mortgage refinance:

Do I really need to refinance my home loan?

You should always look into other possibilities of raising money, or something extra in addition to your normal income. Paying off bills with overtime hours, sales of a few possessions or good financial planning, can result in a refinance not even being needed. Also, never forget the associated costs and fees with refinancing a mortgage. Sometimes, these fees and costs make a bad credit mortgage refinance not worth it, and you would be better off in your current loan.

So is a Bad Credit Mortgage Refinance really my best option?

Doing some easy research and comparison shopping between different mortgage lenders will help a homeowner get the best deal.

Always take refinancing a mortgage seriously. If a mortgage refinance is done wrong, it could cost you thousands of dollars, or maybe even your home. Even homeowners with bad credit, especially in todays market, can get an approval. It has never been easier for homeowners with poor credit scores to get approved for a refinancing. Take action now.

At my site I will teach you how to properly refinance or modify a home mortgage saving you thousands of dollars, or even your home. A lot of Greedy Mortgage Lenders will try to suck you dry if you let them. Learn the right way to refinance or modify your home loan at my site: http://www.refinancingcondo.com

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Home Mortgage Refinance Rates Vary By Borrower

It may be rare to find a home mortgage refinance rate as low as the original mortgage, but with a little bit of research it may be possible. Many homeowners may have bought their home during a time when money for home loans was plentiful and during a downturn in the economy, the money may not be as freely available. When this occurs, the prospect of finding an adjustable rate mortgage is also unlikely.

In order to get out from under an adjustable rate mortgage, many seek to refinance their existing mortgage, using the home’s equity as collateral for the loan with a fixed rate. However, several factors may be used to determine the home mortgage refinance rate available for each individual borrower. Additionally, the mortgage company may have many stipulations on any refinancing loans they offer.

There are numerous companies offering a home mortgage refinance rate at a fixed mortgage and many advertise low rates. However, they usually have attached disclaimers that the loans at that rate are for persons with an impeccable credit history that usually do not need their services in the first place. Those that have a less than stellar credit report will be paying more in interest.

External Influences On Interest Rates

There are times when the location of a home can influence the home mortgage refinance rate. Regardless of a person’s credit history, if the lender deems the location of the home is in an area considered to be blighted, they may be reluctant to loan money for refinancing for any cause. Their reasoning may be that with the neighborhood going downhill, the value of the property will surely fall with it, making the value of the property considerably less than when it was first purchased.

Many times if money is available for homes in a so-called bad neighborhood, it will have a considerably higher home mortgage refinance rate than similar homes in other areas. The condition of the home will also play into the availability of loan money, even if the loan is for home improvements. The lender may determine the home mortgage refinance rate charged for a loan in that area may send the payment out of reach of the borrower.

Unfortunately, there are a few companies that practice predatory lending practices, loaning money with a high home mortgage refinance rate, knowing ahead of time the borrower will end up defaulting on the loan. When the house goes into foreclosure, the lender will try to buy it at auction to resell it over and over again, using the came practices.

Richard Henderson runs his own internet marketing business in Las Vegas. Check out these great Home Refinance articles and resources or the more general Personal Finance Articles and advice.

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Mortgage Refinance - How to Find the Right Deal

There's quite a number of advantages to having your mortgage refinanced however, the most pertinent and obvious reason is the decreased interest rate you'll receive. When done at the right time and chance, getting a mortgage refinanced can save you a lot of money down the road. Nonetheless, because timing plays a crucial role with refinancing, it's essential for you to understand the elements which can impact how well you can take advantage of it. When can a mortgage be refinanced and should you do this?

If you are taking out a home mortgage loan and are considering getting it refinanced later, you will be glad to know that you may probably do it whenever you want. Still once you've a mortgage and the interest rates begin behaving in a way that is favorable to you, you should not automatically apply for refinancing.

First off, the variation in the new interest rate and the present rate of interest should be enough to really provide you some benefits. Second, most lenders would likely encourage you to refinance just after your loan has matured for a minimum of one year give or take. Yet, it's good to contemplate that only if interest rates have remained the same. If, at any time after you have taken out a mortgage loan the market begins to move to your benefit, you ought to consider refinancing the loan. Keep in mind that interest rates are rather unstable and if you delay too long a time for them to dip even further, you may miss out on a very good chance to obtain a decent deal.

Think about the 2 percent rule: Just|Merely|Simply] because the rates of interest have fallen a bit does not necessarily warrant your choice to refinance. Think about refinancing only if the new rate is around two percent lower compared to the rate that you're presently paying. A one percent difference in the interest rate is not sufficient reason to make the switch.

Remember that there's fees tacked onto a new loan: When you consider refinancing for your mortgage, keep in mind that you'll need to pay a bit more in completion fees so an interest rate as low as 1 percent will not cover the cost.

You've no late payments: You may proceed to refinance your mortgage if you have paid your loan faithfully for the last 12 months. If you have never had a late payment during the past year, you could effect the shift and get your mortgage refinanced.

You've already built up equity: If you want to refinance your mortgage soon, attempt to examine if you've actually built up equity. You need to have a minimum of about 5 or 10 percent equity (depending on the lender) before you could consider refinancing as a feasible option.

So is refinancing an alternative for you to do? Naturally, you could always contemplate refinancing the mortgage whenever you're more comfortable. The key is to consider the time factor, along with the type of opportunity being presented by the marketplace, since of course, refinancing is actually taking out another loan. Just be prepared for the procedures and costs that you'll need to experience all over again.

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