Purchasing REO Property

Looking to purchase REO property as an investment or to live in? Lots of companies are selling the countless foreclosure properties on the market today. You can search for mortgage companies properties at Countrywide, or Wilshire Credit Corporation. Another option for finding foreclosed and REO properties for sale is to talk with a Realtor. Contact Brian Burke if you are in Connecticut, or he can even refer you to an agent in the area you live in if you would like. A Realtor can help you to search FHA properties for sale along with the countless other foreclosures.

Avoid Foreclosure

Looking for a way to avoid foreclosure? You do have options if you act soon enough, and you take action. Did I mention YOU MUST TAKE ACTION? Sitting on your hands and expecting someone else to resolve your problem is a plan to have your family living on the street. Sorry, but no one else will solve this for you.
Check out this article for some ideas on how to avoid foreclosure, 4 ways to be exact. Want a teaser, you can try a short sale, and you could read an article on common questions about short sales as well.
Save your house, take action today.

FHA LTV Changes coming October 1st.

Did you know that FHA is changing the maximum loan amount come October 1, increasing the down payment to 3.5%? Check out this article on FHA Down Payment - Changes Effective October 1 for complete details. When you think about 3.5% it really isn't that much, and only a .5% increase.

Short Sale Questions

Do you have questions about short sales? Are you wondering do you have to miss a payment? Is the loss the bank takes taxable to you? How long does the foreclosure process take?
Check out this cool article on frequently asked questions about short sales for answers.
You might also check out this article on Short Sale Games.

Short Sale Games Lenders Play

Short sales are all the buzz right now. In some parts of the country they and true foreclosures make up a majority of the transactions. Are you stuck in a maze trying to complete a short sale? Have you recently run in to trouble with a short sale offer? Check out some of this posting about short sale games.

Secured Credit Card

Looking to improve your credit score, or build credit when you have none? A secured credit card is a great tool to do just that. You put up a deposit to secure your credit line in the event you don't pay and you get a credit card with a limit of that much. The limit isn't relevant, simply that they report to the credit bureaus. Check out this article on secured credit cards for more good information.

Pay Option ARM loans are not all evil

A payment option ARM loan alone is not a bad loan. How can I say that? The loan everyone loves to hate right now. Pay Option ARM loans are responsible for all of the worlds problems right? No they are not. Greed makes them bad loans. Greedy consumers wanting to buy more house than they can really afford, or not asking enough questions as to why the loan sounds to good to be true. Greedy loan officers looking to make a quick buck and not think about what is right for the csutomer. Greedy investors and lenders looking to make big bucks selling a loan to situations where it is not wise. Pay Option ARM loans are not evil, greed is always evil.