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FHA loans for Florida home buyers, 97% Financing down to a

admin — Wed, 28 Oct 2009 16:48:23 +0000

FHA loans for Florida home buyers, 97% Financing down to a <530 FICO SCORE>

The FHA loan program is a mortgage Florida loan program designed to assist every qualified and eligible Florida homebuyer with having the opportunity to own their own Florida home. Insured by FHA/HUD the FHA loan program provides prospective Florida mortgage applicants with a tremendous opportunity

100% Home Loan Financing – Flex your Muscle

admin — Tue, 20 Oct 2009 18:03:42 +0000

With the current ?mortgage meltdown? we hear so much about these days, your average consumer thinks that the days of 100% financing have gone by the wayside. True, you are hard pressed these days to find a bank or lender that will want to carry a second mortgage that combined with a first mortgage adds up to 100% financing. That?s because if there is a default, sitting in second lien position is particularly dicey. Too much risk is involved. And since, in recent history, that scenario of the 80/20 combo was the most common 100% financing vehicle available to a certain group of consumers (non first time homebuyers), there?s a misconception out there that 100% options are all but dried up.

But, a-ha! There is hope for someone who has great credit but prefers to invest his/her assets elsewhere when rates are so low. It?s called the Flex 100. And it can apply to purchases and refinance transactions.

I heard an analyst mention on television the other day that mortgage money is so cheap right now it?s like a sale at Macy?s. That made me chuckle, but it?s true. In which case, why not invest your money elsewhere if you qualify for 100% financing. After all, the homes are still appreciating in most areas, but not at the stellar rate we saw in the past.

The Flex 100 requires you to invest $500 of your own cash towards the transaction, so I guess it?s technically not 100% financing, but it?s pretty darn close. And no, you don?t have to be buying your first home to get this deal. You can actually have owned a home in the past three years! However, it does apply to financing your primary residence only. You can?t get this deal for that nice cabin in Gatlinburg you want to use on the weekends or for that great rental down the street you think you can get a good deal on. You?ve got to live in the house to qualify for this financing.

But you can do a refinance, as long as it?s not a ?cash-out,? meaning you?re not paying off debt or taking equity out of the property. It must be a rate term refinance only. However, you can pay off that second mortgage or home equity line of credit you hate, IF you obtained that 2nd lien mortgage when you got your first mortgage (a piggy back closing, we call it). Or to make it clearer, you originally had that 80/20 combo mentioned earlier. If you got that home equity mortgage a month or two after your initial closing to build a deck or payoff a credit card, than it that won?t work for a Flex 100 refinance.

What about your credit score? Well, it will affect the price you get, but there is no ?minimum? credit score required for this program. You just have to get an approval through the automated underwriting system required. But be realistic ? if you?ve got ?iffy? credit, you probably won?t get an approval. A borrower with a credit score below a 620 would probably have to have a low loan to value or debt to income ratio for a chance of an approval.

A Flex 100 may or may not make sense for you. But hey, at least you know it?s an option. Your lender should be able to help you determine if this opportunity to flex your mortgage muscle makes sense for you.

Let My Experience Work For You!

Email your home loan financing questions to Kristin Abouelata, Home Loan Specialist, at question@kristinmortgage.com or call direct: (865) 567-0113 Toll Free: 1-800-489-8910. For more information visit her website at www.kristinmortgage.com Home Loans Plain Talk.

Use a Settlement Loan as a No-Risk Legal Financing Method

admin — Thu, 24 Sep 2009 17:07:01 +0000

Everyday people are injured or sustain losses in some sort of accident or incident. Some of these incidents are at the neglect of other people or businesses. The person injured in the incident might need to seek compensation in the form of a lawsuit against the party involved. However, it?s not as simple as 123 to file a lawsuit and win your case. You?ll need an attorney who will take your case to civil court, and attorneys aren?t cheap. Some attorneys do work on the contingence basis where they old get paid if you receive a financial settlement. But, sometimes to get a good attorney who practices the field your case is in and has a good reputation requires money up front; this is where a lawsuit settlement loan or also know as lawsuit funding comes into play.

Many lawsuit settlement loan providers will give plaintiffs cash advances to fund their legal case against the defendant. This allows the plaintiff to have a much wider field of attorney?s to choose from since they aren?t restricted by contingence based attorney?s only. You?ll also be able to fight your case to a verdict via a judge or jury and prevent much lower compensation in a out of court settlement. Using a lawsuit settlement loan as a legal funding source is an excellent choice for any plaintiff serious about their lawsuit, and lawsuit loans come will many benefits attached.

One of the greatest benefits of a pre settlement loan is the fact it?s not actually a loan, but a non-recourse debt. The reason it?s consider a non-recourse debt is due to the fact that if you lose your lawsuit you do not have to repay the loan from the provider. That?s right, if your case reaches a verdict in favor of the defendant you don?t pay back one dollar. The approval process of lawsuit settlement loans is also an added benefit, since the repayment agreement is based on your case winning your lawsuit case is the sole deciding factor if you get approved or not. Credit history, employment history and current income level do not have a factor on the approval process.

You?ll also be able to use the money for other things; you don?t need to spend the entire pre settlement cash advance on legal funding. You can use some of the money to pay off medical bills, make car or mortgage payments and even go on a shopping spree; you?re free to spend the money as you choose. Don?t get stuck with a second rate attorney because you can?t afford a down payment on a respectable and reputable attorney, consider a lawsuit pre settlement loan today. Read below to learn more on how you can obtain a lawsuit loan.

Are you a plaintiff looking to apply for a settlement loan? Then you should visit the Legal Settlement Loans website, we provide information to plaintiffs looking for a settlement loan. You should review the benefits of a settlement loan prior to deciding to apply.