|St Louis Mortgage: Loan Modification Not Nearly As Lucrative As a Foreclosure|
Millions of dollars have been enjoyed by numerous companies for simply approving home sales for less than the owed balance. This is also known as a type of short sale.
The United States Treasury department has been paying $1500 for each loan file that is modified. These companies also handle the collection of mortgage payments and requests for assistance.
These companies or servicers can also get $1,000 for each loan modification completion under the government's modification program and...
St Louis Refinancing Loan: Watch Out For 3 Things That Could Ruin Your Home Loan
Your family has located the home of their dreams. You have your lending already taken care of and so you move ahead with signing a contract. But to your chagrin, you find out there will be delays at the closing table and wonder why is this happening to you?
In most situations, the borrower has changed their lending circumstances along the way and that St Louis mortgage loan is history at least for now.
Banking requirements are strict at this time due to the losses on Wall street and the...
St Louis Home Mortgage: Consumers Walking From Foreclosed Homes And Renting
There may be some good news ahead for a nation facing a terrible foreclosure epidemic. Homeowners who are currently facing foreclosure could now get the support through a congressional bill that gives them the "right to rent."
A new five year lease agreement may be in order and finally available for those families receiving a foreclosure notice which would help them to stay in their current home.
This alternate housing development would set a new fair market rental value on their home which...
Use SMS Software For Cell Phone Advertising To Grow Your Company Or Church Database
If you or me saw someone using their mobile phone they were usually chatting. Nowadays, most people are busy typing their messages to their friends, family or work.
It is easy once we understand the massive power of SMS marketing campaigns. Most of us text our friends and family at least several times per day, without realizing what a powerful promotional tool this can be for a business owner.
And most mobile users actually welcome this type of one-on-one dialogue with local business owners...
SMS Advertising and Mobile SMS Marketing Are Powerful Marketing Tools For Local Businesses
It seems that every day we are reading more information about SMS advertising and text marketing and how it is revolutionizing the way we communicate. That is no understatement. Mobile users have spoken and the clear choice for staying in touch with customers and church members is by text alert messages.
This is huge considering the fact that about 281 million Americans have mobile phones and carry them at all times. That is an amazing 90 percent or more of this country who depend on their...
Businesses Will See Huge Profits With Mobile Text Marketing And SMS Marketing
Most people would have never guessed in a million years that a communication platform called Mobile SMS marketing campaign or text marketing would become the number one choice over e-mail, phone calls and face-to-face conversation.
The magnitude this new communicative medium has had clearly shows that business owners in such fields as auto repair, hair salons and restaurants to real estate, dentists and retail stores better pay close attention.
And let's not forget about how important...
Smaller Businesses Have The Best Marketing Tools With SMS Marketing And Mobile Ads
Mobile ads are an exploding trend that is hard to ignore. Take for instance Google's huge $750,000,000 payout for AdMob and Apple's buyout of Quattro Wireless.
Google has moved into this industry because they feel that this new SMS advertising venue is the most thorough and cost-effective tool for the distribution of your advertising message, key financial alerts or church notices to smartphones, cell phones, connected mobile devices, desktops, laptops, netbooks, and iPads.
These text SMS...
St Louis Finance Terms Will Get Harder For Home Buyers Who Walk Away From Their Mortgage
New legislation coming from Capitol Hill will allow Fannie Mae to take legal action against mortgage owners who did not make their house payments although they were fully capable of making them.
The amount of foreclosures that most likely will happen this year will be at least 2.6 million. What is worse is that approximately 11 million owners are severely underwater as far as their homes are worth according to St Louis finance news.
The term strategic default has come about as a direct result...
St Louis Home Loan Consumers Share 7 Great Home Improvement Tips
There is one thing St Louis home loan consumers should do before putting their home on the market and that is taking a close look at recommended home improvement ideas that agents suggest and how you can make your home look like new at a great price.
1. Hot Looking Kitchen
This is probably one of the most important rooms in the home where people spend quality time. Some easy fixtures to replace would be the kitchen faucet, add new lighting fixtures and new cabinet door handles. All this can...
St Louis Mortgage - Tips For Getting a Loan Modification
The obvious failing of the home loan modification programs has created mixed views on whether homeowners should even waste their time trying to apply for funding that may never materialize.
However, most economists will say that all is not lost. Well, for those who share this optimistic opinion about these federal programs, here are some proven ideas that have been relayed by St Louis refinancing experts that may actually help increase your change of being approved and funded.
St Louis Finance Professionals Say Short Sales Being Encouraged by HAFA
It has been very difficult for Americans to keep track of all the federal bailout programs that were originally designed to halt this dying economy.
Much to the chagrin of banks, short sales are getting more and more publicity and the financial blessings of being used to avoid foreclosure altogether.
A short sale enables the homeowner to leave their home while not getting the devastating hit on their credit report compared to a foreclosure entry.
Plus, the short sale can do much for the bank...
St Louis Finance Experts Alert Borrowers About the Best 10 Ways to Avoid Credit and Debit Card Fraud
As borrowers we are bombarded with safety tips on how to protect our use of credit cards and now debit cards when we make transactions in person, on the phone or the Internet.
However, one may be caught totally off guard to know that identity theft can happen to you even when you still have your credit card or debt card in your possession.
There is a new kind of crime that is becoming more and more frequent called "skimming." Criminals are now taking full advantage of technology and can steal...
St Louis Refinance Experts Say Home Loan Applicants May Not Receive Future USDA Loans
Once upon a time, their existed a federal mortgage program from the United States Department of Agriculture that would guarantee low down payments, no down payments and low interest rates for rural home buyers.
However, with the stringent St Louis home mortgage lending requirements facing would be homeowners today, tens-of-thousands of potential buyers have been ushered into this program with promises of a better life, a better home loan in a financial fairytale land not so far away.
St Louis Mortgage Community Stunned at Home Owners Choosing Not to Pay Their Home Loans
Most experts would readily agree that the realty industry is in shambles. Yet, to much dismay, the number of Americans who are purposely not paying their mortgage loan is growing at a stunning rate.
What was once a financial taboo by not faithfully paying one's mortgage payment is now becoming chic by many standards. Both national as well as local St Louis mortgage owners no longer wish to have the financial burden of what they legally owe.
In fact, they are diverting their cash flow from...
St Louis Home Loan Analysts Predict the Worse is Yet to Come
Just when the average homeowner thought that things were possibly turning for the better, it appears that we may be heading for a double dip recession.
Most St Louis home loan advocates have been wondering why the Federal Housing Administration (FHA) recently gave the green light for property flipping to FHA buyers and sellers?
More and more experts are saying that the FHA has seen the chilling, yet proverbial handwriting on the financial wall.
Now in order to prevent the absolute worse type...
St Louis Home Loan Consumers May Have Negative Equity Till 2014 or Later
The latest report by First American CoreLogic seem to say the worst as far as home equity. They estimate that throughout the nation, homeowners who have negative equity may not see any improvement until 2014 or as late as 2016 as far as seeing any positive equitable changes to occur.
But the news may get even worse instead of better. For homeowners who are living in certain parts of the United States where it is being considered severely depressed markets, those consumers in a "underwater" or...
St Louis Mortgage Professional Says HAMP Stopping Foreclosures Would Be a Miracle
Key inside officials on Capitol Hill seem to be joining the criticism involving the federal foreclosure prevention program known as HAMP due to its numerous failures including their cynical outlook on where its heading.
With letters being traded between Neil Barofsky, special inspector general for the Troubled Assets Relief Program (TARP), and one key senator, he has recently said in a report that the U.S. Treasury now expects only 1.5 million to 2 million homeowners to get mortgage...
Distressed St Louis Mortgage Owners May Be Penalized For Saving Money
The St Louis mortgage industry is puzzled at the report coming from the United States Treasury Department stating that approximately 90,000 distressed homeowners may lose their federal mortgage funding that was made available by the foreclosure prevention programs.
This report is not just for those who have yet to apply. The loss of monetary benefits includes those who have already completed their loan modification and have paid their lower payments on time every month.
While some of these...
St Louis Mortgage Industry Says Tax Credit Stimulus a Disappointment
Although this comes as no surprise to consumers, this country has experienced a major financial setback both in the real estate housing industry, the stock market and now we face some of the highest unemployment rates in decades.
St Louis home loan professionals have feared that with unemployment escalating, there may not be any good news in the near future for the housing industry and that the expiring home buyer's tax credit as a complete failure.
However, to the great disappointment of...
St Louis Home Loan Experts Are Saying Get Ready For Higher Interest Rates
When the Fed stated that they would stop buying mortgage-backed securities to the tune of $1.25 trillion, the news sent financial chills down the backs of politicians as well as mortgage and real estate professionals nationwide. What was created to help the economy could now put it in its fiscal grave.
The unexpected change of opinion seems to be conclusive that mortgage rates will invariably go up much sooner than originally expected. As far as our economy is concern, when it rains bad news,...
St Louis Mortgage Consumers - Here Are 5 More Innovative Home Buying and Refinance Tips
Although the St. Louis mortgage and real estate market has drastically changed over the last 18 months, there are ways that consumers can avoid or at least minimize the home buying stress factor.
The following five simple yet ingenious tactics will help in making your St. Louis home loan and home buying experience a better one that will yield positive results.
1. Do not make the mistake by waiting to apply for your loan -
Reports from Washington issued in early January announced that...
St Louis Home Mortgage Owners 3 Great Credit Card Tips For 2010
With new banking regulations and provisions arising in our midst, the new credit card law that takes effect in 2010 will bring about new changes for credit card companies and cardholders alike.
Credit card companies will be bound by tighter restrictions on rate hikes and fees as well as increased disclosure requirements will become mandatory.
Along the same lines, borrowers will need to become familiar with these changes and key provisions in the law and what it ultimately means for...
St Louis Mortgage Owners Confronted With Ongoing HAMP Failings
In an anticipated yet disturbing announcement, Amherst Securities Group LPs Laurie Goodman told Congress that the U.S. loan modification program called HAMP (Home Affordable Modification Program) is destined to fail because it doesnt confront the real problem of negative home equity that is driving foreclosures nationwide.
This is definitely bad news for St. Louis mortgage owners who are themselves dealing with a less than stellar real estate market notably in the once fast growing suburbs...
St. Louis Home Mortgage: 3 Simple Rules to Remember When Loan Shopping
For all those renting or simply wanting to upgrade their home, getting a St. Louis home loan to purchase their dream house is still the quintessential American dream.
Our goal is to help potential homeowners to avoid the obvious and not so obvious pitfalls of a mortgage disaster. The Federal Reserve has released recommendations that we would like to echo at this time. These home mortgage loan tips can apply to purchasing a St. Louis new home or refinancing an existing mortgage.
St. Louis Refinancing: Is a Cash-Out Refinance For You?
With interest rates being at an all time low, this has created a literal fiscal tidal wave of home owners pouring into lenders for a St. Louis refinancing. Even with the banking industry tightening their financial belts, a cash-out refinancing might be the right solution and perhaps a realistic option for you.
That being said, before you fill out any type of mortgage application, there are a few things to consider to that will help you and your family decide whether a cash-out refinance is...
St. Louis Refinancing: 3 Major Mistakes To Avoid
When it comes to doing a St. Louis refinancing home loan, consumers can make their mortgage process a bit easier by avoiding these 3 mistakes that borrowers frequently make.
1. Interest Rate, Interest Rate, Interest Rate
One of the biggest mistakes any homeowner can make when contemplating a refinancing is solely basing their decision on current interest rates. Of course, getting a lower rate can indeed save you large amounts of money over the life of the loan not to mention an immediate...