January 11th, 2010
Several experts are predicting that the housing crisis is nearing it’s bottom. This can be nice news for not only the US economy but additionally the key economies around the world.
What this conjointly means that is that profit takers are looking to induce in before the doors slam shut on a historic shopping for opportunity in not solely Florida but the complete U.S. One amongst the most reasons that the monetary downturn has lasted this long is as a result of conforming lenders have all but forgotten concerning the important estate investor. Last year conforming lenders implemented a tenet stating that anyone with a lot of than four properties financed is not eligible for conforming financing. It doesn’t matter how much cash you make or how smart your credit is, banks WILL NOT lend to investors with additional than four properties. This has left many investors stuck between a rock and a exhausting place. Read more... (439 words and 1 image, estimated 1:45 mins reading time)
Tags: florida hard money, florida hard money lender, florida hard money loan, florida hard money mortgage, free and clear loans, hard money florida, tamp hard money
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January 5th, 2010
Whenever we turn on the radio or the t.v. all we hear about is how the economy is crashing hard. It can be very scary for a first time home buyer. Is your credit good enough? What about your employment history? And of course the scariest thing of all… down payment. Well, there is hope. It’s called Florida FHA Loans. Read more... (453 words and 1 image, estimated 1:49 mins reading time)
Tags: fha financing.fha mortgage company, fha lender, fha loan, fha mortgage, florida fha
Posted in FHA Loans, Industry News, Mortgage | 1 Comment »
November 11th, 2009
Hard money loans are known by many names. You may be familiar with the other names hard money loans go by such as “private money loans”, “hard equity loans”, “equity only loans”, “subprime loans” or “portfolio loans”. No matter what you call them they are filling the huge gap left by conventional lenders for investors and home owners that have equity and need to unlock the cash from their homes. Read more... (857 words and 2 images, estimated 3:26 mins reading time)
Tags: florida equity loan, florida hard money, florida hard money lender, florida no doc, florida private equity, florida stated income, free and clear refinance, hard money cash out, hard money florida
Posted in Industry News, Mortgage | 2 Comments »
October 29th, 2009
There has been much contention over the impending expiration of the $8,000 first time home buyer tax credit. The tax credit is a stimulus incentive that was set to expire on December 1st 2009.
The tax credit allowed first time home buyers purchasing their primary residence to receive a tax credit of up to $8,000. With the expiration of the program many feared that home sales would declined and a market recovery would be further delayed.
Initial reports are that the Senate has not only approved an extension of the first time home buyer tax credit, but an expansion that would allow current home owners to also be eligible for a tax credit on a new home florida purchase as well! Read more... (434 words and 1 image, estimated 1:44 mins reading time)
Tags: 2009 tax credit, 8000 tax credit, first time home buyer tax credit, new home tax credit, tax credit extension
Posted in Industry News, Mortgage | 1 Comment »
October 4th, 2009
In Florida, FHA mortgages are extremely popular. Little down payment is required and you don’t need perfect credit, and the best part… you STILL get the low interest rates! Let me tell you what you need…
First, let’s talk about what exactly is an Florida FHA loan because you are probably thinking this sounds too good to be true. An FHA mortgage is issued by federally qualified lenders and insured by the Federal Housing Administration. That means that they are government loans just like USDA & VA. To get a USDA you must be zoned agricultural and VA you have to be a veteran to be eligible. Unlike the other 2, FHA is for everyone! Read more... (492 words and 1 image, estimated 1:58 mins reading time)
Tags: best florida fha, florida fha, florida fha cash out, florida fha home loan, florida fha loan, florida fha mortgage, florida fha purchase, florida fha rates, florida fha refinance, florida fhalender
Posted in Mortgage | 4 Comments »
September 17th, 2009
One of the biggest factors driving Florida Mortgage home owners into the first time home buying market has been the Government’s $8000 tax credit incentive.
This program has been a huge advantage to first time home buyers (technically classified as anyone not having owned a home in the last three years) that had previously been on the fence wondering when the market was going to hit bottom. Read more... (588 words and 1 image, estimated 2:21 mins reading time)
Tags: 8000 tax credit, first time buyer tax credit, florida tax credit, government tax credit, tax credit ending 2009
Posted in Industry News, Mortgage | No Comments »
August 13th, 2009
Yesterday the FOMC (Federal Open Market Committee) or the FEDs as we like to call them had their first non-negative meeting announcement in years!
It wasn’t all sunshine and roses, but for many experts their comments are heralding and end to the longest economic depression since the Great Depression. The terminology used in their statment was, “economic activity is leveling out”, “financial markets have further stabilized in recent weeks”, “Hosehold spending shows signs of stabilization”. In essence what they are saying is that our economic freefall has stopped. They believe that we are leveling out and have finally hit a bottom. Read more... (613 words and 3 images, estimated 2:27 mins reading time)
Tags: Fed announcment, Federal Reserve, florida mortgage, florida mortgage rates, recession ending
Posted in Industry News, Interest Rates, Mortgage | 5 Comments »
August 6th, 2009
Here are some little known facts about the florida mortgage payment arrangement known as the loan modification:
It is relatively simple and easy to apply for:
Applying for a loan modification can be as simple as picking up the phone. Calling your lender is the first step. Ask for the loan mitigation department and explain your situation in clear, concise detail. It is important to take notes including the date and time, whom you spoke with, and what information they relay. Read more... (453 words and 1 image, estimated 1:49 mins reading time)
Tags: florida loan modification, florida refinance, loan workout, lower mortgage payment, save my home, stop foreclosure
Posted in Mortgage | 3 Comments »
July 28th, 2009
A Florida hard money loan is a specific type of assets-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Florida Hard money is similar to a bridge loan, which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring. Read more... (183 words, estimated 44 secs reading time)
Tags: fast chash, florida hard money, hard equity loan, investor cashout, investor purchase, no doc loan, private money
Posted in Mortgage | 2 Comments »
July 28th, 2009
Florida Mortgage institution considers your credit worthiness when choosing whether to extend a loan and how much of an interest rate you will pay. Your credit worthiness comes down to three things: your credit history, your income and the loan-to-value ratio.
Credit bureaus collect information about the amount of debt you have and whether you pay your bills on time. They compile this information into a file called a credit report, and then boil all this down to a number between about 300 and 850. That number is your credit score. Sometimes it’s called a FICO score, after Fair Isaac Corp., the company that pioneered credit scoring. Most lenders use the middle of the three scores. So for example if you had a 600, 620, and 640 score set
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Tags: credit requirements, florida loan requirements, florida mortgage, loan approval, mortgage approval
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