The political debate over how to deal with a surge in defaults on home loans is raising a question that consumers ought to consider: Is my mortgage broker really working for me? Borrowers often see mortgage brokers as their allies, searching far and wide for just the right home loan at an attractively low price. But many brokers are making it clear they don’t see things that way. They are fighting efforts by federal and state politicians to impose a fiduciary duty on them to put their customers’ interests first, as lawyers, real-estate agents and financial planners generally are required to do with their clients.

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search for : defaults on home loans, mortgage broker

Event insurance is designed to protect you from financial loss if something costly goes horribly wrong during a host of events from anniversaries, baby showers and baptisms to quincea eras, retirement parties and wedding parties, including those held in your home, according to the Insurance Information Institute. Major providers, including Private Event Insurance; Fireman s Fund; Travelers; and Wedsafe, say there’s much small print to read, the coverage is focused and it’s subject to specific conditions, exclusions, limits, restrictions, and deductibles, but the one-time premium offers a host of protections, including weather — Provided the policy is purchased sufficiently in advance of the event — usually a few weeks — and adverse weather prevents the celebration from taking place or a majority of your guests from attending, the costs of rescheduling the event can be covered.

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Consumer groups recommend getting what is known as a FICO score, which ranges from 350 to 850 points, because it’s the score most creditors rely on. Equifax is the only bureau that sells FICO scores to consumers. With the other bureaus, you get a proprietary score. If you want FICO scores from all three bureaus, you can buy them at myfico.com from Fair Isaac Corp., the company that developed the scoring system. Lenders generally will pull all three of your credit scores and throw out the high and low ones. When you get your scores, you should receive an analysis that includes how you rate in terms of other consumers and tips for improving your scores.

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search for : FICO score, Equifax, myfico.com

“Foreclosure filings are skyrocketing in North Carolina. The main cause of the increase in foreclosures is the large and growing number of home loans made by subprime lenders,” says Alfred Ripley, legal counsel for Consumer and Housing Affairs at the NC Justice Center. “While subprime loans have been around for decades, they didn’t used to be as damaging or widespread as they have become in recent years.” In North Carolina, foreclosure filings have increased nearly threefold in recent years to an all-time annual high of over 45,000 in 2006.

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search for : Foreclosure filings, subprime lenders, subprime loans

My husband and I are in the market for our very first house. We believe that this is a good time to buy, especially when mortgage interest rates are still quite comfortable. We know that once we find a house we like, we have to enter into a real estate contract with the seller. Who prepares this contract? What real estate professionals will we (should we) work with, and when do we get them involved in the transaction?

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search for : mortgage interest rates

Recently listed is this one of a kind, 2.87 acre Waterfront Lot with a beautiful view of W. KERR SCOTT LAKE.

It features easy lake access and is dock approved.

The lot is alredy cleared and is ready for building your beautiful home.

Important for lake lots, the property has been “Perc” tested and approved for a septic system for a 3 Bedroom 2 Bath home.

$400,000 for this unique NC lakefront property.

Contact Greg Stikeleather, Broker, 704.880.5247 or email Greg at grstike@charter.net

click here for more information

Recently listed is this one of a kind, 2.87 acre Waterfront Lot with a beautiful view of W. KERR SCOTT LAKE.

It features easy lake access and is dock approved.

The lot is alredy cleared and is ready for building your beautiful home.

Important for lake lots, the property has been “Perc” tested and approved for a septic system for a 3 Bedroom 2 Bath home.

$400,000 for this unique NC lakefront property.

Contact Greg Stikeleather, Broker, 704.880.5247 or email Greg at grstike@charter.net

click here for more information

I was asked by my friends at MortgageLoanPlace to review their website.

The site presents the financial aspects that home buyers and owners must consider when deciding on when and how to finance their current or future purchase. Because of a variety of mortgage products, consumers must be fully educated in the nuances of lending procedures. Otherwise, the homeowner may face arduous payments, unnecessary interest charges or even bankruptcy and foreclosure

The borrower may need to consider securing a traditional home loan, a government-subsidized loan such as a VA and/or an FHA mortgage or a line-of-credit. These and other forms of home loans are defined and discussed on the site.

Of particular interest in these times of mortgage lending uncertainty, many borrowers are considering a FHA Streamline Refinance as a rate reduction program exclusively for FHA mortgage borrowers. “Streamline” refers to a decreased amount of documentation and underwriting during the process of securing the loan. Generally, there is no appraisal, credit check, income or employee verification. And, there is no underwriting fee.

FHA Loan Mortgage Rates are of importance to all FHA borrowers. The website provides the reader with a unique understanding of the FHA process without overly burdensome discussions of unnecessary topics.

Visit the MortgageLoanPlace. You will be richly rewarded with a wealth of information.