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The Mortgage U Blog
Buying and Selling Homes
Many people have heard of house flipping, buying and selling real estate for profit, real estate investing, fixing up homes and selling them for double the purchase price, and many other ways to make money with real estate. So how does one get involved with real estate investing? First off, this lin ...
(Posted: 7/18/2007 11:43:11 PM) Permanent Link
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Financial Planning - Tips
Financial planning is highly recommended for everyone, no matter how much or how little money you make. Financial planning has to do not only with investing money but with making out monthly and yearly budget's, financial goals, setting up retirement accounts and investment accounts, life insurance ...
(Posted: 7/18/2007 11:43:06 PM) Permanent Link
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Fixed Rate Mortgage Rates
The 30 year fixed rate mortgage is the most popular fixed rate mortgage. 30 year fixed rate mortgages are now low based on history. 30 year fixed rates were 6.2% in early 2007, 8.2% in 2000 and 9.2% in 1995. ...
(Posted: 7/18/2007 11:43:02 PM) Permanent Link
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Home Equity Line of Credit
Home Equity Line of Credit or most commonly reffered to as "HELOC", refers to a loan in which the lender agrees to lend a maximum amount within an agreed time period. A Home Equity Line of Credit in many ways is similar to a credit card. At closing you are assigned a specified credit limit that ...
(Posted: 7/18/2007 11:42:56 PM) Permanent Link
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Refinance Out of an ARM
An unprecedented number of loans currently are set to adjust from the fixed portion of the loan to an adjustable rate. How do I refinance out of an ARM? What should I know about my ARM that is about to adjust? What are my options to refinance out of my Adjustable Rate Mortgage? ...
(Posted: 7/18/2007 11:42:42 PM) Permanent Link
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Loan-To-Value Ratio
Loan-to-Value Ratio (LTV) is one of the most important factors banks scrutinize when evaluating the potential default risk of a mortgage loan application. The LTV is derived by dividing the loan amount by the purchase price or the appraisal value of the property, whichever value is less. ...
(Posted: 7/18/2007 11:40:22 PM) Permanent Link

Chapter 13 Bankruptcy
Chapter 13, also called a “wager earners” plan, allows an individual with regular income to submit a plan to the courts for repayment of debts, usually over a period of three to five years. Most importantly, Chapter 13 allows you the opportunity to keep your home, potentially saving it from forec ...
(Posted: 7/18/2007 11:40:18 PM) Permanent Link
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Chapter 7 Bankruptcy
Unlike a Chapter 13 or 11, which allows for restructuring and settlement of debt, Chapter 7 Bankruptcy doesn’t necessarily involve a payment plan to settle with creditors. Instead, Chapter 7 liquidates your assets and then allocates the proceeds to your creditors. The debtor receives a discharge f ...
(Posted: 7/18/2007 11:40:15 PM) Permanent Link
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Credit after Bankruptcy
Not all creditors react the same way to bankruptcy, but your credit will be hurt. This does not mean that you will not be able to obtain credit. A mortgage professional can advise you on what credit you need to get a mortgage after bankruptcy. ...
(Posted: 7/18/2007 11:40:13 PM) Permanent Link
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Getting a Mortgage after a Bankruptcy
Traditional mortgage financing dictated lending after seven to ten years after a bancruptcy. Today, a mortgage can be obtained after only 1 day from release. ...
(Posted: 7/18/2007 11:40:12 PM) Permanent Link

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