Better Finance with Bad Credit – News Story

There are several exciting loan offers to the people with bad credit in the United Kingdom. The loans can be possessed at cheaper rates of interest and have various benefits. The loans are provided on easy conditions. People, who fall short of cash and usually hesitate in applying for...

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Lower Your Payments on the Existing FHA Loan Easily

There is an easy as well as a fast way to lower your monthly loan payments on the existing FHA loan. It does not require money for the closing costs and does not require an appraisal. It does not even require any credit qualifying, if you have been making...

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What Do You Mean By Offset Mortgage

The offset loan is similar to the current account loan, however, all the accounts are held separately rather than having everything in one account. The offset loan concept treats the money as a giant pot, and each element, such as the savings, mortgage, current accounts are separate to the...

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Drop In the Home Repossessions to a 5 Year Low

The number of houses that are being repossessed has fallen to a 5-year low, say the lenders. CML or Council of Mortgage Lenders says that there were 8,200 repossessions in the third quarter of the year 2012, which is the lowest quarterly number recorded since 2007. The number of...

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Mortgage Industry FAQ – Part 1

Q1.   What is a mortgage? A.   A mortgage is a loan secured from a lending institution to buy real estate property. It is a legal claim on a property that obtains a promise from the borrower to pay off the debt. All mortgages have two common aspects, which are...

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Mortgage Industry FAQ – Part 2

  Q21.   What is meant by the term rate lock? A.   A rate lock ensures the borrower immunity from fluctuations in the financial market. A person taking a loan may opt to lock the interest rate for a certain period. In such a case, the rate of interest remains...

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Mortgage Industry FAQ – Part 3

  Q41.   What is a sub-prime loan? A.   A sub-prime loan is characterized by high interest rate as compared to those of traditional or prime rate loans. A borrower with low credit ratings will not be considered for any of the prime loans detailed above. In such an event,...

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Mortgage Industry FAQ – Part 4

  Q61.   What factors could delay the approval of a loan? A.   There could be delays in the approval process, if the borrower does not present the necessary information accurately. The borrower should let the lender know about any change in his financial status before the loan is closed....

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Mortgage Industry FAQ – Part 5

Q81.   Can an application be made online? A.   Several lending institutions have websites detailing their services. You may visit the websites and check out if they have a facility for online applications. You may fill up the online application form by entering the information asked for. A home mortgage...

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London Property Rates Prop Up the UK Average

The prices of a typical home in the UK rose by almost 1.7 per cent in the last one year, which means that the average property here now costs 233,000 pounds. However, the monthly home price index of the Office National Statistics suggests that this is majorly because of...

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Deciding on an Escrow Account after a Refinance

The monthly mortgage dues of a borrower consist of homeowner’s insurance, private mortgage insurance and property taxes apart from the mortgage principal and interest payments. Lenders require that you pay the insurance amounts and the property taxes in an escrow account held by a third party called escrow services....

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HUD Guidelines for Manufactured Homes

A set of directives prepared by the Department of Housing and Urban Development (HUD) may have served to enhance the quality of manufactured homes. Homebuyers are quite willing to apply for mortgages for this highly affordable quality of housing. Here are the key guiding principles put forward by the...

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