The Pocket Mortgage Guide: 56 of the Most Important Questions

The “Mortgage Professor” answers critical homemortgage questions

This value-packed consumer reference by a nationally syndicated mortgage columnist is indispensable for anyone looking to secure a home mortgage. The Pocket Mortgage Guide answers 50 of the most commonly asked mortgage questions, including:

• How can I find the lowest-cost lender?
• Should I choose a 15-year loan or a 30-year loan?
• What is PMI and how can I cancel it?
• How large a mortgage will I be able to afford?
• What will my monthly mortgage payment be?
• What is a “debt ratio” used for and how is it calculated?
• What is a home equity line of credit and what should it be used for?

The book also provides valuable interest amortization tables and is the perfect resource for home buyers.

The Pocket Mortgage Guide: 56 of the Most Important Questions and Answers About Your Home Loan – Plus Interest Amortization Tab

Navigating the Mortgage Maze: The Simple Truth About Financing

Navigating the Mortgage Maze: The Simple Truth About Financing Your Home

Arizona Real Estate

Arizona is a popular destination get-a-way, especially for senior citizens making the purchase of Arizona real estate an investment opportunity waiting to be pursued. With the history, the numerous attractions and the great climate, investing in real estate in Arizona is an opportunity not to be passed up. Rather you invest in commercial buildings, an apartment complex or trailer park or single family dwellings there is sure to be something to help diversify your portfolio and meet your needs.

Finding a good real estate agent

The first step will be to find an Arizona real estate agent. Look for a local real estate agent where you are now if you do not live in the area you wish to invest in and ask them if they know anyone in that area. If that fails, contact the better business bureau or the local convention and visitors bureau. They may be able to guide you. Once you have located a real estate agent take the time to meet them in person. Don’t be afraid to ask for references and if you are considering purchasing a foreclosure ask what kind of experience they have in dealing with these types of purchases. If you do not like the answers you receive or are in any way uncomfortable, keep looking. Finding the right real estate agent to help you purchase Arizona real estate is essential especially if you do not live in the town you are buying real estate in. You will need the agent you choose to be honest and trustworthy.

Learn these real estate investment strategies

Before you begin investing in Arizona real estate learn the various investment strategies that are commonly used. There are three investment strategies that are based on facts and generally have great results. The bargain purchase method is the first option. Investors who use the bargain purchase method when choosing a property pay twenty percent less than market value for the property. This allows them to make up to a twenty percent profit using this real estate investing strategy and is a great strategy to use when purchasing foreclosures. The second strategy is known as the increase value strategy. Using this strategy the building would be purchased at current market value. There must be some improvements that could be done within a six month time period that would increase the value of the building by twenty percent for this strategy to be successful. Finally, many real estate investors use the double digit cap rate. The double digit cap rate strategy is used for buildings that have a capitalization rate of ten percent or more. A capitalization rate is the net operating income from the property which is then divided by the purchase price. These are harder to find unless the market is depressed or you are looking into small market niches. Purchasing Arizona real estate is really not any different than purchasing real estate in your own hometown once you find the right real estate agent to work with.

Foreclosure Bank Sale: The Smart Way to Purchase Your Next Property

If you are looking for a great deal and you have the time to wait for the perfect opportunity to come to your attention you might consider a foreclosure bank sale. The economy is not at its strongest and people who are distressed must attempt to sell their homes during the pre foreclosure period before the bank repossesses the property. Though the window of opportunity is smaller, the smart investor still can profit from great deals once the bank has repossessed the property and is offering it at a foreclosure bank sale.

There are actually three different ways to obtain the property way below market value.

• You can purchase the property from the original owner before the Judicial Foreclosure; which is a legal foreclosure supervised through the court system. During the pre foreclosure period the homeowner attempts to relieve him/herself of the burden of debt and maintain his or her good credit standing in the process.

• Another way to buy foreclosure property is through a public auction where the public can bid on the property up for sale.

• The third option is the foreclosure bank sale also known as Real Estate Owned (REO) by the original lending company (the bank in most cases or other lending company such as a mortgage company or credit union.

Many investors prefer to obtain their property directly from the existing owner before the bank or legal system becomes involved. Desperate homeowners will often sell prime property at a ridiculously low price to avoid going into foreclosure and receive some compensation for the sale. Investors have the opportunity to inspect the property before sale is finalized.

The second preferred option is the foreclosure bank sale, after the property has been reposed and is now in the possession of the bank. Again the prices will remain well below market value of the property and a property inspection is also available.

The auction option is the least desirable of the three for the simple reason that there is no guarantee that the prices will remain low, often time they are elevated to stimulate more profit at the disadvantage of the bidders. The investor often buys the property unseen without being able to inspect for repairs and the general maintenance of the property.

It is important to note that buying at an auction might cause you some problems if you are buying in a state where the original owner has “the right of redemption”. To avoid these legal hassles buy the property through the pre foreclosure period, with the original owner or purchase the property through a credit union, mortgage company or foreclosure bank sale.

Use Foreclosure Law!: Keep Your Home

This book guides your through a legal process that may enable you to keep your home by obtaining a “legitimate” loan modification … reducing the principal amount you owe the lender!

The Underwater Mortgage: How To Survive Your Sinking Ship While

The Underwater Mortgage: How to Survive Your Sinking Ship While Keeping Your Sense of Humor by Bud and Kristin Gragg gives you all the help you need to make the right financial decision now for you and your family. Power-packed with tips, tricks, and techniques available only here, The Underwater Mortgage can keep you afloat and save your financial peace of mind. The authors teach you how to put all the cards on the table and, most importantly, stack them in your favor. Their book documents their experience-from the rise of their significant portfolio (over $24 million in investment real estate), through the economic perfect storm, and ultimately how they got their family to higher ground.

The Underwater Mortgage: How To Survive Your Sinking Ship While Keeping Your Sense of Humor

How to Stop Foreclosure: The First Months

To learn how to stop foreclosure during the first few months, you have to do one of the most difficult things. You have to talk to your lender. Lenders today have new tools and loan options to help people to get into the right type of loan for them. They have programs in place to help you get out of foreclosure and even to help you to simply be caught up. If you are struggling with how to stop foreclosure during the first few months, there are several things you need to do.

First, in order to learn how to stop foreclosure you need to understand your lending situation. Has the lender of the loan turned the case over to a judge in your state? Is the lender still willing to work with you? Chances are good they do especially if they are calling you. Do you know how much you need to pay to get caught up on your loan? Look at routes to take to help you avoid being in this position again. All of these concerns are important considerations for any loan, but for you, it has to be a personal process.

The first thing you should do to learn how to stop foreclosure is to call your lender. Talk to them about your situation, letting them know what the problem is in terms of why you cannot pay the loan. Here are some solutions they may offer to you.

• One or two months behind: Make payment on the missing mortgage payments and get caught back up, fees may apply.
• Refinance the loan into a loan with longer terms giving you a lower interest rate, go with a fixed rate loan that you know you can pay monthly.
• If you are unable to keep up with payments, talk to the lender about selling your home or if there is a short sale option available to you. Additionally, work with your lender to learn how to stop foreclosure if the home’s loan is taken over by an investor.

These are a few of the way that you can learn how to stop foreclosure from happening to you. There is no doubt that having the right information and resources are the best route to take. If you have put yourself in a position, in which your lenders are not talking with you, contact and work with an attorney to help in the process. They can help you find a solution to the problem and help you to learn what options are out there to stop foreclosure.

Long Drive Home: A Novel

In his riveting new novel, Will Allison, critically acclaimed author of What You Have Left, crafts an emotional and psychological drama that explores the moral ambiguities of personal responsibility as it chronicles a father’s attempt to explain himself to his daughter—even though he knows that in doing so, he risks losing her.

Life can change in an instant because of one small mistake. For Glen Bauer, all it takes is a quick jerk of the steering wheel, intended to scare a reckless driver. But the reckless driver is killed, and just like that, Glen’s placid suburban existence begins to unravel.

Written in part as a confessional letter from Glen to his daughter, Sara, Long Drive Home evokes the sharp-eyed observation of Tom Perrotta and the pathos of Dan Chaon in its trenchant portrait of contemporary American life.

When Glen realizes no one else saw the accident, he impulsively lies about what happened—to the police, to his wife, even to Sara, who was in the backseat at the time of the crash. But a tenacious detective thinks Sara might have seen more than she knows, or more than her parents will let her tell. And when Glen tries to prevent the detective from questioning Sara, he finds himself in a high-stakes cat-and-mouse game that could end in a lawsuit or prison. What he doesn’t see coming is the reaction of his wife, Liz—a panicked plan that threatens to tear their family apart in the name of saving it.

But what if the accident wasn’t really Glen’s fault? What if someone else were to blame for the turn his life has taken? It’s a question Glen can’t let go of. And as he struggles to understand the extent of his own guilt, he finds himself on yet another collision course, different in kind but with the potential to be equally devastating. Long Drive Home is a stunning cautionary tale of unintended consequences that confirms Will Allison’s growing reputation as a rising literary talent.

Be Prepared: Get all the information on how to Purchase a HUD Foreclosure Home Before you Decide on What Home You Intend to Buy

One of the different types of government owned property is a HUD Foreclosure. The homes offered through the HUD foreclosure procedure is offered to low and medium income families but you must qualify to receive them. The general public must already be accepted for a loan to bid on these HUD Foreclosure homes. Though anyone who meets the loan requirements can qualify for a HUD Foreclosure home, the Department of Housing and Urban Development (HUD) will give priority to prospect homeowners who intend to live in the houses they purchase. They also give priority to teachers, emergency technicians, law enforcement officers, and firefighters in order to relocate to neighborhoods being upgraded by the HUD Foreclosure program.

When you purchase a HUD foreclosure home you are purchasing the property in whatever shape it comes in. However, the HUD foreclosure program offers relief by pricing the homes very low, helping with financial aid for purchasing and closing costs, and helping with the cost for repairs. Since HUD foreclosure homes are sold at auction, the financial aid that you require for purchasing and for the upkeep of your home will be added to the bidding price.

In order to participate in a government HUD Foreclosure auction you will need to show a letter of loan pre approval from your issuing bank. This letter should be valid for a period of sixty days. You should give the pre-approved letter to the real estate agent that has been authorized as a qualified government approved lender. You can find HUD foreclosure home auctions listed by state http://www.hud.gov/homes/index.cfm at their government website, or you can get the listings through the authorized government real estate agent who will actually be doing the bidding for you as well. The real estate agent may have other helpful HUD foreclosure information to give you in addition to the auction information.

By looking into the previous HUD foreclosure sales, you will have a better idea of the condition and type of property offered in your area as well as the usual bidding prices.

Boosting your ability to procure a conventional bank loan

Even though the HUD, which is the Department of Housing and Urban Development, does not issue the loans to obtain these houses, what they will do is insure the lender against default of payment on your part. Being backed up by government money will put the bank more at ease and in turn they will be more willing to offer you a prime loan with minimum down payment and a less than perfect credit rating. They know that if you default the government will pay the loan in question.

In turn, the bank will issue an appraisal for the home you are intending to buy to make sure it meets minimum housing standards, for both house and HUD purposes, it is marketable (not all homes are in a condition in which they can be sold such as condemned property) and it will most importantly give you and estimation of the value of the home. This procedure said to benefit the lender will also benefit the borrower in the sense that it gives you a guideline for bidding purposes. However, borrowers also need to have a home inspection done to know how much their new property is worth when factoring in such things as fixer up costs; refurbishing, repairs, maintenance and add on costs.

HUD foreclosure homes are a profitable investment for the homebuyer even when you factor in the costs for repair. These houses are sold well below market price to account for the repairs that will be needed to upkeep the property.

How to Make Your Realtor Get You The Best Deal, Massachusetts:

How to Make Your Realtor Get You The Best Deal, Massachusetts: A Guide Through The Real Estate Purchasing Process, From Choosing A Realtor To Negotiating The Best Deal For You!

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