Underwater Home: What Should You Do if You Owe More on Your Home than It’s Worth?
Underwater Home: What Should You Do if You Owe More on Your Home than It’s Worth?
- ISBN13: 9781456365707
- Condition: New
- Notes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
Underwater on your home? Don’t know what to do? Let one of the the nation’s leading experts guide you to the right decision. In Underwater Home, Professor White addresses all your concerns and helps you work through the emotions and practical realities of being underwater on your home. He explains your options and gives you the facts that will empower you to make the best decision for your family, free from guilt or fear, and with clarity, confidence, and peace of mind. Underwater Home is both an emotional and practical guide for the underwater homeowner. Professor White explains when it makes financial sense to stay in your underwater home and when it makes sense to get out. And he offers no-nonsense insight into how to negotiate with your lender. If you’re underwater on your home, you can’t afford not to read this book. “In a tone that is both conversational and precise… lays out the case for and against walking away from an upside-down mortgage where the home is worth less than the mortgage balance. As is his habit, Mr. White strips away many of the emotional reasons that are often touted to deter walkaways. – Wall Street Journal, Decemeber 7, 2010. “Underwater mortgage? The book banks and Fannie hope you won’t read.” Reuters, December 15, 2010 “Law Prof’s Book Helps Underwater Homeowners Decide When to Walk Away” – ABA Journal, December 8, 2010. “A how-to book on strategic mortgage default.” – Orlando Sentinel, December 15, 2010 “Brent White, a University of Arizona law professor who has preached the morality double standard that homeowners face while companies default on loans without so much as a second thought, now makes his case in a book that virtually holds homeowners’ hand through the process. He tells them what to consider when deciding whether they should stop paying the mortgage… White even walks homeowners through the math to figure out whether they’re better off staying put and or walking away. – Orlando Sentinel, December 15, 2010
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Categories: Loan Products Tags: home, It's, more, Should, than, Underwater, Worth
My installment loan for mobile home is in default, what do I have to do?
Question by nhop02: My installment loan for mobile home is in default, what do I have to do?
I got a letter in the mail saying that my installment loan for our mobile home is in default, what do I need to do? can i make up the payment? i am a month and half behind I guess. My husband didn’t make a payment.
That’s all I have to do is bring the loan payments current? and they will stop the default?
Best answer:
Answer by Squirt
Bring your payment current. Mortgage co. would rather work with you than spend time and money in a default situation. It will ruin your credit if you default. Maybe the loan payment wasn’t credited to the right acct. If your husband did pay, check your canceled checks and bring a copy to the co. Women need to know what goes on in their finances so maybe it’s a good idea for the 2 of you to pay bills together.
Know better? Leave your own answer in the comments!
Categories: Loan Questions Tags: default, home, Installment, loan, mobile
What will happen to my credit cards if my home is foreclosed?
Question by triguyinla: What will happen to my credit cards if my home is foreclosed?
I have over $ 100,000 in credit on my 7 or 8 credit cards, all with a 0 balance. I am facing foreclosure in a few months. Will the banks cancel my credit cards once I get a foreclosure on my credit? Should I just max out all my credit cards with no intention to pay them?
Best answer:
Answer by Teresa H
Unless you are earning a very large income, you don’t need to have $ 100,000 in available credit. You should close all but 2 or 3 of the credit card accounts. Pick the ones with the most favorable terms, such as the longest grace period, the lowest interest rate, no annual fee, and with the maximum limit at about 15% of your income. I am assuming that since you have a 0 balance, you pay them off each month, which is a very sensible practice that you should continue. Showing poor judgement along with poor luck doesn’t help you in the long run. These actions will result in a credit score that won’t go as low as it could otherwise.
What do you think? Answer below!
Categories: Loan Questions Tags: Cards, Credit, foreclosed, happen, home
Home Loan Repayment Calculator
If you are planning to establish or acquire a good credit rating, you should be able to pay your outstanding short and long term loans without any delay. By doing this you are able to show lenders that you are able to deal with the credit agreements without any faults or compromises. If payments are made on time and are completed within the agreed time frame, borrowers are then rewarded by lenders with a good credit score. Almost all people know that a good credit rating can easily attract the lowest interest rates and this can be carried over when going for the lowest auto loan rates.
Lots of payment schemes are being offered by banks at the different terms and interest rates.
Affordable auto loan payments are available in the banking scene but one must be keen to find the right lending company that suits a person’s loan preferences. Many lending establishments offer simple application that is coupled with quick and easy approval. The internet provides many auto loan payment calculator that give applicants an accurate estimate as to how much amount they could qualify for , including the amount of monthly reimbursements they must pay.
Customers can be assured that they are treated to a low price guarantee on all items, while not discriminating clients in terms of credit status and credit scores. Clients are also given the chance to choose their payment terms that range from 6, 12, 18 and as long as 24 months. This option comes with a diverse choice of paying every month or twice a month. Discounts are also given as well as many benefits and services.
Home equity loans that come from poor credit can still be attainable despite having a very low credit score. This is due to the fact that these kinds of loans are considered to be secured loans. This is somewhat being translated to your loan being tied with the equity of your home. The bank is just giving you the money that is already trapped and included in the equity of your home. This translates to being able to get a bad credit equity loans without much difficulties.
Categories: Loan Articles Tags: Calculator, home, loan, Repayment
Home Buying For Dummies, 3rd edition
Home Buying For Dummies, 3rd edition
Though fun and exciting, buying a home can also be complicated and confusing—and most people learn the hard way that a wrong move can cost dearly. In order to find the perfect home at the best price, you must have skill, foresight, and a little guidance from experienced professionals.
Home Buying for Dummies, Third Editionprovides just that! Packed with invaluable advice in an objective, down-to-earth style that will have you sitting in your dream home in no time, this friendly guide contains everything you need to know to play the home buying game. It has the tools you need to:
- Improve your credit score and select a mortgage
- Choose a time and place to buy
- Determine the price you want to pay
- Assemble an all-star real estate team
- Make use of the wonderful world of the Internet
- Negotiate your best deal
- Inspect and protect your home
- Handle and become responsible for the title
- Cope with buyer’s remorse
Featured in this guide are tips and tricks on things you should do after you seal the deal, as well as things you ought to know about real estate investing. Also included is advice on how to sell your house, as well as a sample real estate purchase contract and a good inspection report. Don’t get chewed up by the real estate market—Home Buying for Dummies, Third Edition will lead you to the home you want!This may be the best comprehensive guide for home buyers. Home Buying for Dummies is coauthored by Eric Tyson, author of several other books in the For Dummies series, and Ray Brown, a long-time real estate professional. Like other books in the series, this one is an easy and even entertaining read. But it does not gloss over details in pursuit of simplicity. Home Buying for Dummies covers all the bases, providing clear explanations and reasonable judgments on how to select a mortgage, hire a real estate agent, find the right house, and negotiate a good deal. The book goes further than most in providing helpful, specific information. For example, in discussing ways to save money for a future down payment, Home Buying for Dummies even includes the phone numbers for various mutual funds appropriate to different investment time frames. –Barry Mitzman
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How To Buy A Home Using A Va Loan: What Every Home Buyer Should Know
How To Buy A Home Using A Va Loan: What Every Home Buyer Should Know
Almost everybody has a dream home. A place they like to stroll through in their thoughts, choosing make-believe paint colors for the walls and putting pretend curtains up. But for too many people, dream homes remain just that-dreams, but it doesn’t have to be like that at all. The dreams of owning a home has become a reality for millions of Americans by using VA loans to help purchase their home. Our eBook, “How to Buy a Home Using a VA Loan,” contains valuable educational information, tips, techniques and guidelines for buying a home using a VA Loan. This eBook describes the tools and techniques that will teach you how to prepare, qualify and purchase your home successfully using a VA Loan. This eBook includes plenty of examples, guidelines and instructions to make buying your home with a VA Loan a smooth, easy and quick process.
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Mission Expansion in the Federal Home Loan Bank System Reviews
Mission Expansion in the Federal Home Loan Bank System
Studies how the Federal Home Loan Bank System has changed over time and why.
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How to Get the Best Home Loan, 2nd Edition
How to Get the Best Home Loan, 2nd Edition
Save Time and Money-and Get the Loan That’s Right for You
Ever-changing mortgage guidelines . . . confusing financial forms . . . if you’re buying or refinancing a home, you know all too well how overwhelming and intimidating the mortgage process can be. This revised edition of How to Get the Best Home Loan guides you through all the critical issues and demystifies the mechanics of mortgage lending-everything from disclosures and fees to closing costs, points, and making payments. Longtime mortgage banking industry insider and former realtor W. Frazier Bell helps you sidestep the risks of financing a mortgage and sheds light on many unknown aspects that keep borrowers from making intelligent, money-saving decisions.
Written in clear, simple language, this comprehensive Second Edition features new information on desktop underwriting, merged credit reports, and using the Internet, as well as updated sections on verifications, qualifying, and loan types. Bell gives you hands-on access to his hard-won experience, providing the tools you need to:
* Understand why lenders do the things they do
* Learn what to look for when comparing loans and lenders
* Head off potential problems and expensive mistakes
* Navigate FRMs, ARMs, FHAs, GEMs, and TILs
* Know why certain loans may be better for you than others
* Save yourself hundreds, even thousands, of dollars
Packed with real-life examples, sample forms, and proven advice, How to Get the Best Home Loan, Second Edition will ensure that you get the right loan, at the right price, from the right lender.
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Categories: Loan Products Tags: best, Edition, home, loan
Privatizing Fannie Mae, Freddie Mac and the Federal Home Loan Banks: Why and How
Privatizing Fannie Mae, Freddie Mac and the Federal Home Loan Banks: Why and How
Many people want to tighten federal regulations governing the government-sponsored enterprises (GSEs)-Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. But better regulations will not do much to reduce the real risks that the GSEs create for U.S. taxpayers and the economy, and aren’t likely to have real force. Fannie and Freddie are the most politically powerful companies in America. The S&L debacle of the late 1980s showed that politically powerful organizations can intimidate regulators and stave off tough regulation. Under these circumstances, privatization-the elimination of government backing-is the only viable way to protect the taxpayers and the economy against the consequences of major financial difficulties at one or more of the GSEs. Opponents of privatization believe that Fannie Mae and Freddie Mac would be even more powerful as privatized entities. Fannie and Freddie would be able to obtain better financing than their competitors, according to this line of thinking. Concerns have also been raised about whether the privatization of Fannie and Freddie would disrupt the residential finance market or raise mortgage rates for home buyers. The plans in this book together address these concerns. Thomas H. Stanton demonstrates that it is possible to cut the ties between the government and the GSEs-and to create a fully competitive private mortgage market-without disrupting the current system of residential mortgage finance. Financial consultant Bert Ely shows that it would be possible to obtain lower mortgage rates than currently offered by Fannie and Freddie, without any government involvement. The book presents a complete legislative proposal to enact these plans, along with a detailed section-by-section analysis of the bill. Peter J. Wallison is a resident fellow at AEI and the codirector of AEI’s program on financial market deregulation. Thomas H. Stanton is a Washington, D.C.-based attorney. Bert Ely is a financial institutions and monetary policy consultant.
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Categories: Loan Products Tags: Banks, Fannie, federal, Freddie, home, loan, Privatizing