A recent survey found that 25% of New Zealanders with mortgages are concerned about their ability to pay – 1 in 4.
Variable mortgage rates are now at their highest levels in a decade and roughly a third of all fixed mortgages are up for renewal over the next 12 months.
Add in rising food and petrol prices, you know the story – the strain is beginning in many households.
So how can you reduce debt stress?
Clear it obviously – or reduce your exposure to it, start living within your means and maybe go back to that old fashioned idea of saving up for something rather than borrowing someone else’s money
Duration : 0:3:58
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Technorati Tags: analysis, commentary, Debt, interest, mortgage, New, recession, reset, zealand
Second wave of real estate collapse just beginning. This 60-Minute TV segment has been taken off the Internet several times, so catch it while you can. I can’t help but wonder why this video is removed from various places. 60 Minutes is a legitimate news show and this is very relevant and important news for home owners.
Duration : 0:5:58
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Technorati Tags: Debt, default, economy, Money, mortgage, New, nwo, order, world
Second wave of real estate collapse just beginning. This 60-Minute TV segment has been taken off the Internet several times, so catch it while you can. I can’t help but wonder why this video is removed from various places. 60 Minutes is a legitimate news show and this is very relevant and important news for home owners.
Duration : 0:6:29
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Technorati Tags: Debt, default, economy, Money, mortgage, New, nwo, order, world
Need a home loan? New England Mortgage Corp. cuts out the middleman. Located in Nashua, New Hampshire, this direct lender makes the final decision on your loan, letting you fund your purchase and close escrow quickly. Get the funding you need at FNEM!
Visit us http://www.yellowpages.com/info-4303327/1st-New-England-Mortgage-Corp?from=youtb
Duration : 0:1:13
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Technorati Tags: 1st, brokers, Corp., direct, England, fha, Hampshire, home, investment, lenders, lending, Loans, mortgage, mortgages, Nashua, New, property, residential, va, yellowpages
Quicken Loans client Tracey from North Carolina, discusses in this video testimonial how Quicken Loans helped her refinance her mortgage. Tracey and her husband originally bought their home several years ago with the intention of reselling it, however when housing market dropped their plans changed. Their house payment actually ended up being higher then they wanted. Quicken Loans Mortgage Banker, Chris Behrns, introduced the idea of refinancing to Tracey and her husband. Chris was able change Traceys loan from an interest only to a principle and interest while still saving them about $300 a month on their payments. Tracey was so happy with her refinance she even found us on Twitter – http://twitter.com/quickenloans
Duration : 0:2:14
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Technorati Tags: Customer, Dana Staniec, Helped, home, Interest Only, loan, Loans, mortgage, Mortgage Banker, New, News, North Carolina, Online, Principle, Principle and Interest Only, Process, Quicken, Recommends, Refinance, refinancing, Review, Reviews, Service, Testimonial, Tracey, Twitter, video, Website
1st Metropolitan Mortgage in Morristown has been in business for 25 years. Specializing in FHA, commercial, residential and construction loans, they are prepared to handle all of your financing needs, including home equity loans and reverse mortgages. Contact a loan specialist today for more information.
Visit us http://www.yellowpages.com/info-15670148/1st-Metropolitan-Mortgage?from=youtb
Duration : 0:1:12
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Technorati Tags: 1st, broker, Commercial, construction, estate, fha, financial, home, House, jersey, lender, lending, loan, Loans, Metropolitan, Morristown, mortgage, mortgages, New, real, yellowpages
ACC shock tactics teaching us not to talk about home loans while carrying boxes and walking down stairs. Thanks guys! Glad to know that’s what the 1.3% you take from my wages pays for.
Duration : 0:0:30
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http://www.TonyCroft.com
What’s Up?
Duration : 0:3:1
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Technorati Tags: Business, finance, jersey, mortgage, New, nj, rates, Refinance, tvjersey
Tax Credit for First Time Home Buyer and FHA Mortgage to Purchase Bank Foreclosures at Discount Prices. Down Payment Assistance for Home Owners thru Federal Program. Go To http://RealEstateMarketingThisWeek.com
Part 6 (Excerpt)
Foreclosures may be the best purchase option for first time home owners; Interest rates at all time lows
In the last couple of months, 40% of all the total sales in Maricopa County were foreclosures. 40% of the total market was foreclosures and thats not including short sales, and so normally someone is doing a short sale because their bank is not willing to work with them to do the loan modification. So we could be taking 50% maybe 60% of the supply off the market and as soon as we do that we are going to start to see the bottom of this market.
So right now again I think it is a fantastic time to get out there, with government intervention, its a great time to get out there and buy a house. Most people who are out there looking at homes today they have already met with a realtor or they have met with their mortgage planner or both and they are ready to get out there and go. One of the things that is still happening out there is it is still a hot buyers market. The buyer can still go buy a home that fits their needs, their families needs, that they can grow with and the seller in most cases is willing to pretty much do whatever they can as long as they get somewhere close to what they need to yield on the property.
They are willing to pay all of your closing costs in almost every case and if there are some repairs that need to be done then they are willing to do those again in almost every case. It has to be of course within reason and it also has to be repairs that need to be done. For instance, if you want granite countertops because you dont like the Formica, the lender is not going to pay for that. But if there are no countertops then the lender in most cases will do that. It has to be a primary residence. They are not going to do this for investors.
We have had a lot of cases moving past this month. You can get the lowest interest rates weve seen in years and get the seller to pay most of your closing costs, but you do need to get in and get preapproved, not prequalified preapproved, for a loan so you have that check with you when you go out to make an offer. If you are approved we can close that loan in a hurry and you will not have any problems.
One thing especially here in Arizona there are so many people who are upside down in their homes right now. You have the same issues in Florida and California everybody knows the states where they have been really hard hit. It is really difficult for a seller who is $100,000 upside down in their home to put their house on the market and get it sold and be able to give a good deal to a first time home buyer, so thats why I think in this market right now the foreclosures are some of the best deals out there. You have a motivated seller, you have a vacant house and in some cases you even have financing available from the seller of the property. Being a Fannie Mae, FHA or VA who can provide financing, so the foreclosures right now are definitely the hot spot in the market. What we were saying a couple of minutes ago was that theres a potential that coming six months from now these foreclosures could be gone. And that is great for everybody
Yes it is great for everybody and now is the time to get in there and snap them up and I have heard anecdotal stories, just recently my brother picked up a couple of REOs and he is paying somewhere between $30,000 and $50,000 for these properties, two of them were tri-plexes. And I know someone just the other day bought a home for $45,000. It was a three year old house, they had to clean the carpet and moved the tenant in the next day and that was actually someone who worked in your office Michael. Pretty easy to cash flow on a $45,000 house. Its really easy to cash flow on a $45,000 house and the rent on that was probably about $1200. So I dont know, what are they making $500, $600, $700 a month?
But what I am saying is thats the kind of prices you can get. Now I am not saying go buy the $45,000 house, because I dont know what the neighborhood was like. He said it was brand new, but maybe you have to buy the $150,000 house. But the biggest thing is make sure you get pre-qualified first. Dont start looking at foreclosure properties or any other property until you go to Velocity Financial and get yourself pre-qualified…
Duration : 0:5:48
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$8000 Tax Credit for First Time Home Buyers with Low Down Payment. Lender Finance Program with Low Payment and Fixed Interest Rate on FHA Mortgage and Government Assistance. Go To http://RealEstateMarketingThisWeek.com
Part 8 (Excerpt)
Analyzing tax returns for self employed and small business owners; Use a Mortgage Planning Expert
Credit scores now are a major factor with interest rates. You see the liars up on the internet with interest rates being at 4.625% and all this kind of hocus pocus, its not true. You are never going to qualify for that rate today. They are going to lie to you, once you sign and see the fine print you are going to realize that it is a ridiculous idea to pay that amount of money in fees.
Credit scores have to be significantly higher than they used to, but again I have to tell you, its my opinions that a 70% no doc loan with someone who has a 720 or higher credit score I believe is a good loan. I personally believe that at some point it will be brought back.
I am not arguing with that, with a good FICO score I can agree with a 20% down for a stated income loan. People are encouraged through our tax system to write off all of their expenses and so often we have small business people who really are making money but because they take advantage of our tax system they are not able to get a loan. They cant qualify based upon their income.
In a lot of cases yes, but once again I definitely want to point his out just because someone is self employed and owns a small business and they do write everything off, that does not mean that they will not qualify. They may have been told now that they have to go stated income because of tax returns, but most people, the small business owner, the consumer doesnt know how to analyze his taxes, whether or not he is going to qualify for financing thats not his area.
Most CPAs dont even know how to analyze taxes to extrapolate enough income back out where we can use it as income, so just because a person is self employed does not mean that they cant qualify for financing and honestly nothing could be further from the truth. Plenty of people self employed, small business owners will qualify using their tax returns.
I think that anyone right now who doesnt own a home should be giving you a call getting pre-qualified. If nothing else give you a call and see what you can do. So you say, I wrote off a bunch of stuff last year and I am not going to be able to buy a house well maybe you can. But get in there, have a professional, have someone who knows what to do, whos been in the business for 15 years, have them take a look at it and decide whether or not you can really get that loan.
One of the things with my mortgage education; I am a certified mortgage planner. I am a certified mortgage analyst and a certified mortgage planning specialist. The significant part of that training and those certificates is in analyzing complex tax returns and we analyze complicated tax returns for professional athletes, for professional musicians, all the time. There is income always, it is just a matter of knowing how to get all of it out there. So I think we have kind of hit that.
So yes if you dont own a home today and you have been told NO, you need to find out if the person who told you no is qualified to tell you no, #1, and #2, less than 15% of the lenders in Arizona are qualified to do FHA loans. Those are the loans we are talking about, $100 down to buy a HUD-home, less than 3.5% down to buy a house with the best interest rates that we have seen in my career, its crazy not to look at your options.
If a lender does tell you no, it would be like going to a doctor and he says you have to have your arm amputated because you have a pimple on it. I think you are going to go get a second opinion, maybe even a third. To make sure you dont have to have it cut off. And that is exactly what we have here, if you go to a lender and he says, Well you are going to have to put down 20% you know he is not an FHA lender. So run out of there and call Michael at Velocity Financial and get yourself pre qualified.
Dan Havey, you have a great website, its called http://discountdreamhome.com and why dont you talk real quick about that. Its real simple, if you are looking to buy a foreclosed home, and as we discussed earlier they are many times the best homes to buy right now, they are vacant, they obviously have a highly motivated seller. You dont have to deal with all the troubles you would have to deal with from a regular or as we refer to them, an organic seller, because a lot of these people are upside down.
Duration : 0:7:49
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