May
26
Bri up
I’m getting a mortgage loan through a mortgage company but the guy that is giving me the loan seems a little bit to excited. How much money is he making off of the loan of 170,000 and what should I look out for?
I’m getting a mortgage loan through a mortgage company but the guy that is giving me the loan seems a little bit to excited. How much money is he making off of the loan of 170,000 and what should I look out for?
May
24
bad credit loans?
Filed Under Credit | 6 Comments
sassy2sloppy
can anyone recommend a loan for no or bad credit, I dont want a debt consolidation service, they screwed me over. I dont own a home, and my car is paid off and in someone else’s name. A loan for no more than 5,000. Please help!
can anyone recommend a loan for no or bad credit, I dont want a debt consolidation service, they screwed me over. I dont own a home, and my car is paid off and in someone else’s name. A loan for no more than 5,000. Please help!
May
23
underoath_580
We are looking for a mobile home loan for a used single wide that we can move to a trailer park. We have already found the mobile home, we are just looking for a lender. We are needing one that will give us a second chance since we do have bad credit.
We are looking for a mobile home loan for a used single wide that we can move to a trailer park. We have already found the mobile home, we are just looking for a lender. We are needing one that will give us a second chance since we do have bad credit.
May
23
can you refinance loan for a rental home that you do not own?
Filed Under Renting & Real Estate | 7 Comments
kilese
I have bad credit I need a loan to purchase property. I have 2 properties that have been super for rentals and want to buy them. But how with bad credit?
I have bad credit I need a loan to purchase property. I have 2 properties that have been super for rentals and want to buy them. But how with bad credit?
May
23
Danielle Fletcher
The buy to let mortgage market faces crisis as banks tighten their lending criteria and raise their interest rates. Many landlords have profited over the last decade from buying property and renting it out to tenants. House prices have increased and mortgage deals have been plentiful. However since the collapse of part of the American mortgage market due to sub – prime lending, interest rates across the global have been rising.
Even landlords with good credit histories and reasonable sized deposits could face problems finding a profitable buy to let mortgage in today’s economic climate. But for those who already have these types of mortgage the outlook seems even worse. Landlords who brought one of the plethoras of new build city centre flats within the last five years are suffering from having to find people willing to pay high rents to cover the high interest rates. Often these new built properties have been over valued and sold for considerably more than their market rate. This means that bigger mortgages were required to purchase the properties, many of which have actually lost value in recent years. Now with the banks increasing interest rates across the mortgage market, it is costing landlords even more to maintain these flats.
When the time comes for landlords to re-mortgage they may find it extremely difficult to find a comparable deal. Morgage lenders in the UK are withdrawing their buy-to –let products faster than their mainstream ones and have pushed up the rates for existing high risk customers to encourage them to move. Other lenders have stopped offering their products to new borrowers all together. But it’s not just the landlords that are suffering; some lenders are finding it difficult to stay afloat also. Paragon, which specialises in lending to landlords, has said that it is dangerous close to collapsing and will have to cut a third of its staff in order to keep afloat
A number of mortgage lenders are stepping out of buy- to- let market altogether, whilst others are refusing to offer loans to landlords wanting to purchase new-build properties. This means that landlords are more likely to have to stick with the mortgage rates that they are offered by their current lenders when their lower rate deals run out. Typically the standard variable rate is considerable higher than the cheap deal used to enticed landlords when they first took out the mortgage. This means that higher rents are then needed in order to cover the raising costs. However rents have not kept pace with the increased interest rates of the mortgage market and now landlords have to pay the shortfall themselves.
There is little that can be done in these times to ease the burden on buy-to-let landlords in this situation. Selling the properties may be an option but some new build flats are now worth less than when first purchased, so will result in negative equity if they were sold. Riding out the storm seems to be the second option but if landlords are to do this they should ensure they have completed a thorough search of the market and have the best product they can find to match their needs.
The buy to let mortgage market faces crisis as banks tighten their lending criteria and raise their interest rates. Many landlords have profited over the last decade from buying property and renting it out to tenants. House prices have increased and mortgage deals have been plentiful. However since the collapse of part of the American mortgage market due to sub – prime lending, interest rates across the global have been rising.
Even landlords with good credit histories and reasonable sized deposits could face problems finding a profitable buy to let mortgage in today’s economic climate. But for those who already have these types of mortgage the outlook seems even worse. Landlords who brought one of the plethoras of new build city centre flats within the last five years are suffering from having to find people willing to pay high rents to cover the high interest rates. Often these new built properties have been over valued and sold for considerably more than their market rate. This means that bigger mortgages were required to purchase the properties, many of which have actually lost value in recent years. Now with the banks increasing interest rates across the mortgage market, it is costing landlords even more to maintain these flats.
When the time comes for landlords to re-mortgage they may find it extremely difficult to find a comparable deal. Morgage lenders in the UK are withdrawing their buy-to –let products faster than their mainstream ones and have pushed up the rates for existing high risk customers to encourage them to move. Other lenders have stopped offering their products to new borrowers all together. But it’s not just the landlords that are suffering; some lenders are finding it difficult to stay afloat also. Paragon, which specialises in lending to landlords, has said that it is dangerous close to collapsing and will have to cut a third of its staff in order to keep afloat
A number of mortgage lenders are stepping out of buy- to- let market altogether, whilst others are refusing to offer loans to landlords wanting to purchase new-build properties. This means that landlords are more likely to have to stick with the mortgage rates that they are offered by their current lenders when their lower rate deals run out. Typically the standard variable rate is considerable higher than the cheap deal used to enticed landlords when they first took out the mortgage. This means that higher rents are then needed in order to cover the raising costs. However rents have not kept pace with the increased interest rates of the mortgage market and now landlords have to pay the shortfall themselves.
There is little that can be done in these times to ease the burden on buy-to-let landlords in this situation. Selling the properties may be an option but some new build flats are now worth less than when first purchased, so will result in negative equity if they were sold. Riding out the storm seems to be the second option but if landlords are to do this they should ensure they have completed a thorough search of the market and have the best product they can find to match their needs.
May
22
dean123
we lost our home and 2 cars, now renting someone that will just give you a new start on life, does anyone know a company that will help people like this.
we need at less $70,000.00 to pay for everthing, we have no house to get loan on because we lost it and 2 cars, we just need a loan to get a new start in life. Does anyone know where you can get a loan like this. Please help me find the answer.
we lost our home and 2 cars, now renting someone that will just give you a new start on life, does anyone know a company that will help people like this.
we need at less $70,000.00 to pay for everthing, we have no house to get loan on because we lost it and 2 cars, we just need a loan to get a new start in life. Does anyone know where you can get a loan like this. Please help me find the answer.
May
22
When making a Mortgage Loan Prepayment, does it reduce the principle amount you have to pay each month?
Filed Under Renting & Real Estate | 8 Comments
Ryan L
Currently I am about to close on a house and have a 30 year fixed rate mortgage. My question is whether paying additional amounts above my normal mortgage payment reduces the amount I will have to pay each month, or whether it just reduces the amount of periods in my loan term.
Currently I am about to close on a house and have a 30 year fixed rate mortgage. My question is whether paying additional amounts above my normal mortgage payment reduces the amount I will have to pay each month, or whether it just reduces the amount of periods in my loan term.
May
21
Anna Q
I do not have a co-signer with good credit.. What is a way I can get a 6000 dollar loan fast. I also do not have good credit and I do not own a home… please someone help me its crucial.
I do not have a co-signer with good credit.. What is a way I can get a 6000 dollar loan fast. I also do not have good credit and I do not own a home… please someone help me its crucial.
May
21
Gary C
I funded a private mortgage loan for two individuals. Can I report this loan to the credit bureaus so it will be included in their credit score?
I funded a private mortgage loan for two individuals. Can I report this loan to the credit bureaus so it will be included in their credit score?
May
21
Lazy_Dayz_J_Z
I want to get a loan for about $30,000. It would be used for buying a home (foreclosed house that needs to be fixed up) & to help fix it up. I do not own a home right now. I only have 1 credit score (about 650 score). I am almost 30 & would like to own a home myself. My roommate would co-sign on the loan (credit score is about the same), but she was told that on her credit report, it says she owes over $5,000 (she has been trying to fix this since 1999 & no one can seem to take these off!).
I want to get a loan for about $30,000. It would be used for buying a home (foreclosed house that needs to be fixed up) & to help fix it up. I do not own a home right now. I only have 1 credit score (about 650 score). I am almost 30 & would like to own a home myself. My roommate would co-sign on the loan (credit score is about the same), but she was told that on her credit report, it says she owes over $5,000 (she has been trying to fix this since 1999 & no one can seem to take these off!).
We always hear that I have to have at least 2 credit scores to get a loan & she has to delete some of these bad points on her credit. I can’t seem to get a second score because I cannot get a loan or even a credit card (they tell me it because I have no score, but I know I have only one!).
I have been working at the same place for 4 years
So, is there anyway to get a personal loan, even with my problems? Even if the loan has a high interest rate, I wouldn’t mind. Any suggestions