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Advantages of Having a Secured Loan

Finance: Loans Articles from EzineArticles.com — Mon, 11 Feb 2008 00:00:00 GMT

Many people in the UK today are benefiting from secured loans instead of the previous favourite, unsecured loans. Naturally, there are quite a number of benefits by obtaining a secured loan as opposed to an unsecured one. First, a secured loan is the simplest to apply for as the lender is issuing the loan against a property or an asset.

Advie wanted for first time buyer!

MoneySavingExpert.com Forums — Mon, 11 Feb 2008 00:00:00 GMT

My girlfriend and I are looking to get a mortgage in the next couple of months. We are looking to borrow between £170K - £200K.

I am currently on £22000 and the OH on £19000. OH has clear credit rating and I have a couple of defaults and was on a DMP until about 6 months ago, I was paying a fee for this so am dealing with them directly now. Paying £180 a month. The total debt is approx £11K.

What are the chances of obtaining a mortgage of this size?, we can get hold of approx £10K for a deposit. Who should we approach?

Thanks

Americas Watchdog Blasts The US Congress for Not Requiring Banks & Mortgage Bankers To Disclose A Huge Mortgage Kickback Called A Yield Spread Premium

PRWeb: Business Finance — Mon, 11 Feb 2008 00:00:00 GMT

As Congress considers mortgage reform, Americas Watchdog and its National Mortgage Complaint Center are demanding that mortgage bankers and banks be required by Congress to disclose a huge mortgage kick back called a "yield spread premium". The problem: the biggest campaign donations to the US House of Representatives and the US Senate Banking Committees, come from banks, mortgage bankers and home builders acting as mortgage lenders. What is a yield spread premium? A yield spread premium is a kick back banks and mortgage bankers get for inflating a consumers interest rate/monthly mortgage payment. Banks and mortgage bankers do not have to disclose these kick backs even though they get them. Mortgage brokers do have to disclose this fee. (PRWeb Feb 11, 2008)

Read the full story at http://www.prweb.com/releases/2008/02/prweb677423.htm

Bad Credit Auto Loans - Don't Let Poor Credit Keep You From "Driving Your Dream"!

Finance: Loans Articles from EzineArticles.com — Mon, 11 Feb 2008 00:00:00 GMT

Stop worrying about low credit keeping you from your new car, because bad credit auto loans can now provide you with the required auto financing even if you have a poor credit history! If you have delayed or missed payments in the past, or if you have arrears, CCJs or IVA against your name, then you probably know how difficult it can be to get a decent rate on your new vehicle loan. Online Advantage You can get your car financed through the dealership where you purchase it, but most auto dealers will ...

First Time Buyer

MoneySavingExpert.com Forums — Mon, 11 Feb 2008 00:00:00 GMT

Evening All,

I'm hoping to purchase a property for the 1st time! As some background, my salary is 24K, but I have over 9K of debts (loan and cards which I'm steadily reducing:cheesy: ).

I have spoken to 3 or 4 brokers, who seem to give varying advice (I have checked that they're whole of market).

2 brokers recommended a mortgage from BM Solutions which would include 100% mortgage and 9k to cover the abovementioned debts. However when I asked for a decision in principle, I was rejected (apparently re a late payment in the last 12 months which I don't think is true, but am about to ask for my latest credit rating).

I've since spoken to the bank of mum and dad, and there maybe a 5% deposit available from them which I guess helps me.

Sorry to keep on, but another broker has today recommened a mortgage with RBS (with the 5% deposit and without the extra amount to cover debts)- she described it as an Application in Principle. My fear is that I get rejected again at the Decision in Principle stage. Can this happen? What's the difference between Application in Principle and Decision in Principle?

And another quickie, loooking at the overall cost of the mortgage it will be £3.28 for every £1 borrowed. Does this sound excessive?

Any advice greatly fully recieved.

Thanks,

Kingpoultry

No Cost Reverse Mortgage

Finance: Loans Articles from EzineArticles.com — Mon, 11 Feb 2008 00:00:00 GMT

Reverse Mortgages are a very good tool for many senior borrowers to enable them to access the equity in their home while never having to make another payment as long as they live in those homes. However, a Reverse Mortgage has always been a fairly expensive proposition, usually carrying a price tag of a 2% origination fee as well as a 2% government mortgage insurance fee, plus third party costs such as appraisal, title, escrow or closing, etc. In all, in some of the higher HUD areas, the total of ...

Redemption figure v Annual statement

MoneySavingExpert.com Forums — Mon, 11 Feb 2008 00:00:00 GMT

My mortgage deal finished on 31-12-07.

I found a deal with another company and due to the bank holiday, completion took place on 02-01-08.

The redemption figure obtained by the solicitors (free with the deal) dated 02-01-08 was £XX,922.01.

This includes £199 admin and £25 for redemption certificate.

I have now received my annual statement from the original company with a loan outstanding figure for 31-12-07 of £XX155.15.

This means 2 days interest = £542.86.

I have spoken to CS but the person only seemed able to read back the figures on the annual statement.
They have however agreed to send me a copy of the redemption statement.

Have I mis-read the situation and overlooked something basic?

Any comments welcome.
Apologies if I do not reply immediately, I only manage to get on here evenings, and am busy at the moment.

Secured Loans - Smart Borrowing For Homeowners

Finance: Loans Articles from EzineArticles.com — Mon, 11 Feb 2008 00:00:00 GMT

When it comes to borrowing money homeowners have a valuable added advantage over non-homeowners, and this is the ability to borrow against their home. In the past people have been a little nervous about secured loans simply because of their secured nature, but as equity levels have increased over recent years an increasing number of homeowners have realized that a secured loan...

The Quickest Ways To Eliminate Credit Card Debt And Avoid Bankruptcy

Personal Finance — Mon, 11 Feb 2008 00:00:00 GMT

Frustrated with your mounting credit card debt? Thinking about filing for bankruptcy? Hold that thought! Realize Your Problem Early So, you have a problem, don’t you? Don’t be afraid. You’re not alone. Every year, millions of Americans and people all over the world realize they are suffering from an overwhelming amount of credit card debt. They stress over [...]

Titan Lenders Corp Adds Strategic Relationship Officer: Mortgage back office outsource provider foresees diversifiedlending marketplace

PRWeb: Business Finance — Mon, 11 Feb 2008 00:00:00 GMT

Titan Lenders Corp., a mortgage back office fulfillment services provider specializing in closing, funding, and post closing services has added mortgage lending sales and marketing veteran Jennifer Higgerson in the role of Strategic Relationship Officer. Higgerson will oversee Titan's outreach to emerging mortgage lending businesses requiring high quality execution of back office operations without related overhead costs. (PRWeb Feb 11, 2008)

Read the full story at http://www.prweb.com/releases/titan_lenders/lenders_corp/prweb690594.htm

Two Changes in Tax Code May Benefit Some Homeowners

Mortgage News Daily - Mortgage and Real Estate News — Mon, 11 Feb 2008 00:00:00 GMT

There are two small changes in the tax code this year that may benefit some homeowners.

The first change deals with the deduction of premiums for private mortgage insurance while the second helps homeowners whose homes were foreclosed in the last year or who gave a deed in lieu of foreclosure or had a short sale approved by their lender...

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Right Time To Refinance Your Loan

Personal Finance — Sun, 10 Feb 2008 00:00:00 GMT

Refinancing your loan can be highly advantageous for you. To take out the maximum benefit of refinancing shop around to get the best refinancing deal. The increased number of mortgage lenders in United States has actually made the market competition stiff for mortgage lenders. In order to survive in market they often resort to low [...]

Adverse Credit Secured Loans

Personal Finance — Sat, 09 Feb 2008 00:00:00 GMT

Adverse credit loans, are also known as poor credit history, or bad credit history, this is a negative credit rate. These are bases by lenders if they can give you a loan or not. This is a condition to identify someone who has a bad credit history or transaction in a financial institution or late [...]

Credit Repair And Your Life In 2008

Personal Finance — Sat, 09 Feb 2008 00:00:00 GMT

A Little History In the late 1990s real estate values begin to increase at an unexpected pace. In response to the healthy market, lenders eased their credit guidelines. Mortgage money was plentiful. Default rates on mortgages were minimal. Home values continued to rise and lenders perceived little or no risk to their collateral. Borrowers with adjustable [...]

Cash-Out Refi's Declining in Both Numbers and Amounts

Mortgage News Daily - Mortgage and Real Estate News — Fri, 08 Feb 2008 00:00:00 GMT

In spite of declining house prices and tightening credit, Americans are continuing to pull cash out of their homes according to Freddie Mac's Cash-Out Refinance Report for the fourth quarter of 2007, but in fewer numbers and much lower amounts than recorded even one quarter earlier.

81 percent of Freddie Mac-owned loans that were refinanced during that quarter resulted in new mortgages that were at least 5 percent higher than the mortgages they replaced. During the third quarter 86 percent of refinances could be termed "cash-out."

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"Foreclosure Avalanche" Prompts Servicer Survey

Mortgage News Daily - Mortgage and Real Estate News — Thu, 07 Feb 2008 00:00:00 GMT

In a conference call/press conference on Thursday, the Conference of State Bank Supervisors (CSBS) released its first report on loss mitigation efforts as reported by 13 major residential mortgage servicers.

Iowa Attorney General Tom Miller explained that the report grew out of a concern dating back to last summer that the nation was facing a "foreclosure avalanche."

The first report did contain some interesting findings...

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Mortgage Rates Reclaim Last Week's Declines

Mortgage News Daily - Mortgage and Real Estate News — Wed, 06 Feb 2008 00:00:00 GMT

It was nice while it lasted but mortgage rates last week reversed a four week downward trend and made up much of the ground they lost a week earlier. However, they still remained well below where they were at the end of 2007 when the four-week slide began.

The volume of mortgage applications reported by survey respondents continues to be much stronger than...

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Many Mortgage Delinquents Still Unaware There Is Help

Mortgage News Daily - Mortgage and Real Estate News — Mon, 04 Feb 2008 00:00:00 GMT

Freddie Mac has released a survey done in cooperation with Roper Public Affairs and Media, a leading international market research firm that shows 57 percent of borrowers who are behind in their payments are unaware that their lenders may be able to offer them workout options.

The study concludes that mortgage servicers can do several things to improve communication and possibly debt resolution with their borrowers:

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Mortgage Rates Still Falling Hitting Four Year Low

Mortgage News Daily - Mortgage and Real Estate News — Wed, 30 Jan 2008 00:00:00 GMT

Mortgage interest rates for the week ended January 24 continued to fall and long term rates hit their lowest levels since the spring of 2004 according to the results of Freddie Mac's Primary Mortgage Market Survey for the week ended January 24, 2008.

Mortgage application volume increased 7.5 percent on a seasonally adjusted basis from a week earlier and 10.5 percent on an unadjusted basis. The volume was...

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Commercial Real Estate Lending -- Where to go when the markets dry up?

Commercial Mortgage Blog — Wed, 19 Dec 2007 00:00:00 GMT

Alpine Commercial Capital offers commecial real estate financing options from $200,000 - $200 million plus through Alpine Capital Finance, Alpine Bridge Fund, and Alpine Advisory and Investment Banking Group (AIB).

Alpine Capital Finance (ACF), a wholly-owned subsidiary of Alpine Commercial Capital, specializes in originating, acquiring and securitizing small-balance ($200,000 - $5 million) commercial mortgage loans throughout the United States. ACF delivers an extensive platform of small balance debt products on a national basis with the highest level of professionalism, efficiency and reliability. ACF provides comprehensive national loan programs via Wholesale and Retail Channels. The ACF team is dedicated to closing loans quickly as well as honoring and standing by our commitments.

OWNER OCCUPIED COMMERCIAL REAL ESTATE LOANS - STATED AND FULL DOCUMENTATION

Most small business property owners have assumed that a community bank is the only place to go when their business needs cash. At ACF, we understand small business needs and that's why we created a faster, more flexible loan process compared to typical SBA programs. As specialists in owner-occupied commercial real estate financing, we can approve your loan faster and cheaper than with SBA financing. We offer loan amounts up to $5 million, up to 90% loan-to-value conventional financing, stated and full documentation loans, and extremely competitive rates with fast, reliable and simple loan commitments.

MULTIFAMILY, MIXED-USE & COMMERCIAL REAL ESTATE LOANS - STATED AND FULL DOCUMENTATION

ACF offers a standardized small balance loan product for multifamily, commercial and mixed-use properties located throughout the United States. We offer loan amounts up to $3 million, up to 80% loan-to-value conventional financing, stated and full documentation loans, and extremely competitive rates with fast, reliable and simple loan commitments. We offer a seller second program (up to 90% CLTV) that allows the borrower to leverage their equity, subject to approval.

BRIDGE FINANCING / HARD MONEY LOANS - TIME IS OF THE ESSENSE, STATED COMMERCIAL LOANS

Alpine's Bridge Loan Group specializes in structuring creative solutions to non-conforming deals. Alpine's Bridge Loan Group lends between $1 million - $100 million on any one deal throughout the United States. Loans typically close within 5-10 business days. Our Bridge Loan Group has financed all types of commercial real estate; office, retail, multifamily, hotel/motel, warehouse, marinas, gas stations, vacant buildings, inventory loans, cross-collateralized deals, among others. Our professionals will respond immediately to your needs. Whether in need of a time sensitive acquisition, construction funds or a bank workout, we can help. We take particular care in making sure all our clients receive immediate responses to any loan inquiries. Bridge Loan General Parameters

ALPINE BRIDGE FUND UPDATE AND RECENT DEAL

As the capital markets dry up, we are able to continuously fund deals through our dedicated Bridge Fund with over $200,000,000 of discretionary capital under management.  We funded a record month in November and are on pace to have a record month in December as well.

Through Alpine’s Bridge Fund, we recently closed a $25,000,000 deal where the broker was paid a commission at closing of $250,000. The loan was collateralized by a townhouse on the Upper East side of Manhattan.  The borrower needed to cash out quickly for another project downtown.  We reviewed his request and closed the loan within 20 days.  If you have not worked with us in the past on the bridge product, this serves as a great example of how our Bridge Fund executes and closes loans that others cannot.

Alpine Advisory & Investment Banking Group focuses on larger conventional real estate financings, from $3 million to $200 million plus.