Copyright (c) 2008 Investors Lending Group. All rights reserved. http://www.investorslending.com/library/ Last Posting: Jan 13, 2008 en-us Thu, 13 Jan 2008 11:50:00 EST 5 142 18 http://www.investorslending.com http://investorslending.com/images/spacer.gif Banks http://www.investorslending.com/mortgage-news/article/001.php http://www.investorslending.com/mortgage-news/article/001.php Thu, 10 Jan 2008 18:34:00 EST A buyout of hobbled mortgage lender Countrywide Financial likely would be approved by regulators, analysts say, because otherwise the company could file for bankruptcy, injecting further uncertainty into the home-loan market. Bank of America Corp. is in talks to acquire Countrywide, The Wall Street Journal and The New York Times reported Thursday online, ... Banks http://www.investorslending.com/mortgage-news/article/002.php /mortgage-news/article/002.php Sat, 11 Jan 2008 09:33:00 EST Bank of America said Friday it will buy Countrywide Financial for $4.1 billion in stock, a deal that rescues the country's biggest mortgage lender and expands the financial services empire of the nation's largest consumer bank. Top Stories http://www.investorslending.com/news/top-stories.php http://www.investorslending.com/news/top-stories.php Thu, 31 Jan 2008 12:00:00 EST Interest Rates http://www.investorslending.com/news/interest-rates.php http://www.investorslending.com/news/interest-rates.php Thu, 31 Jan 2008 12:00:00 EST Public Opinion http://www.investorslending.com/news/opinion-journal.php http://www.investorslending.com/news/opinion-journal.php Thu, 31 Jan 2008 12:00:00 EST Real Estate http://www.investorslending.com/news/forclosures.php http://www.investorslending.com/news/foreclosures.php Thu, 31 Jan 2008 12:00:00 EST Real Estate http://www.investorslending.com/news/residential-property.php http://www.investorslending.com/news/residential-property.php Thu, 31 Jan 2008 12:00:00 EST Real Estate http://www.investorslending.com/news/commercial-property.php http://www.investorslending.com/news/commercial-property.php Thu, 31 Jan 2008 12:00:00 EST Economy http://www.investorslending.com/news/economy.php http://www.investorslending.com/news/economy.php Thu, 31 Jan 2008 12:00:00 EST Business http://www.investorslending.com/news/business.php http://www.investorslending.com/news/business.php Thu, 31 Jan 2008 12:00:00 EST Technology http://www.investorslending.com/news/technology.php http://www.investorslending.com/news/technology.php Thu, 31 Jan 2008 12:00:00 EST Technology http://investorslending.com/news/technology-world.php http://investorslending.com/news/technology-world.php Thu, 31 Jan 2008 12:00:00 EST Technology http://investorslending.com/news/technology-information.php http://investorslending.com/news/technology-information.php Thu, 31 Jan 2008 12:00:00 EST Business http://www.investorslending.com/news/business-startup.php http://www.investorslending.com/news/business-startup.php Thu, 31 Jan 2008 12:00:00 EST Mortgage http://www.investorslending.com/library/mortgage-refinancing.php http://www.investorslending.com/library/mortgage-refinancing.php Thu, 10 Jan 2008 10:00:00 EST What is the cost to refinance? Will it benefit you? Years ago, when interest rates and costs to obtain mortgage were higher, the rule of thumb was that you had to gain at least two points better in your interest rate to justify the costs to refinance. Not true today! Mortgage http://www.investorslending.com/library/heloc.php http://www.investorslending.com/library/heloc.php Thu, 10 Jan 2008 10:00:00 EST Using a credit line to borrow against the equity in your home has become more popular over the past five to six years with the rising property values we have experienced across the United States. Equity credit lines come is a variety of shapes and forms. Credit http://www.investorslending.com/library/credit-score.php http://www.investorslending.com/library/credit-score.php Thu, 10 Jan 2008 10:00:00 EST How can you improve your credit score? If you are planning to apply for a mortgage soon and you feel that there could be some issues to deal with, it is prudent to pull your own credit (inexpensively) ASAP in advance. Real Estate http://www.investorslending.com/library/title-vesting-options.php http://www.investorslending.com/library/title-vesting-options.php Thu, 10 Jan 2008 10:00:00 EST Before you reach the closing day, you will want to make a decision as to how you will "hold title" to the property. Since this decision has legal, tax and estate planning ramifications, it may be prudent to consult an attorney or CPA. Mortgage http://www.investorslending.com/library/reverse-mortgage/index.php http://www.investorslending.com/reverse-mortgage/index.php Thu, 10 Jan 2008 10:00:00 EST Top Ten Things to Know if You're Interested in a Reverse Mortgage. Firstly, What is a reverse mortgage? A reverse mortgage is a special type of home loan that lets a homeowner convert a portion of the equity in his or her home into cash. The equity built up over years of home mortgage payments can be paid to you. Mortgage http://www.investorslending.com/library/mortgage-insurance-pmi.php http://www.investorslending.com/library/mortgage-insurance-pmi.php Thu, 10 Jan 2008 10:00:00 EST The Cancellation Process. The Homeowners Protection Act of 1998 became effective July 29, 1999; the Act requires that lenders cancel PMI when your equity versus original purchase price reaches 22%. Also, when 20% equity is attained based on current values, you can request that PMI to be cancelled (for loans made after July 1999), regardless of Credit http://www.investorslending.com/library/fico-score.php http://www.investorslending.com/library/fico-score.php Thu, 10 Jan 2008 10:00:00 EST Prime Credit. A+ to A- Considered the best credit rating. FICO scores range from 620 to 800-900. The FICO ceiling varies with the credit repositories (i.e. Equifax, Experian, and TransUnion). This FICO range means that you pay your bills on time, and manage your credit wisely. Mortgage http://www.investorslending.com/library/calculate-apr.php http://www.investorslending.com/library/calculate-apr.php Thu, 10 Jan 2008 10:00:00 EST The concept of APR is a good idea. The Federal Truth in Lending law requires lenders and brokers to disclose the APR when they advertise a rate. It is designed to represent the true cost of the loan to the borrower, expressed in the form of a yearly rate. The objective of the law is to enable consumers to compare loans across different programs while forcing unscrupulous lenders and brokers to disclose their fees and upfront costs. In reality, this goal is unobtainable. Mortgage http://www.investorslending.com/library/prime-rate-mta-libor.php http://www.investorslending.com/library/prime-rate-mta-libor.php Thu, 10 Jan 2008 10:00:00 EST An Adjustable Rate Mortgage (ARM) is in essence a trade-off of risk levels between the lender and borrower. In a traditional 30-year amortized mortgage, the borrower gets a 30-year guarantee of both rate and payment, and the lender asks the borrower to pay a higher rate of interest versus shorter-term mortgages. In a 5-year ARM for example, the borrower gets Mortgage http://www.investorslending.com/library/no-closing-cost-refinance.php http://www.investorslending.com/library/no-closing-cost-refinance.php Thu, 10 Jan 2008 10:00:00 EST No Closing Cost loans allow you to avoid non-recurring closing costs by selecting a slightly higher interest rate. When you choose a No Closing Cost loan you receive a rebate that will pay your non-recurring closing costs, allowing you to close with less money up-front. Mortgage http://www.investorslending.com/library/super-jumbo-mortgage-loan.php http://www.investorslending.com/library/super-jumbo-mortgage-loan.php Thu, 10 Jan 2008 10:00:00 EST Jumbo loans, also called non-conforming loans, are mortgages with loan amounts greater than the "conforming loan limit." For 2008, the single family residence (SFR) (including condominiums) loan limit is $417,000, unchanged from 2007. In many parts of the United States, a home in the $400,000 range is considered a starter home. Mortgage http://www.investorslending.com/library/pre-approved-mortgage.php http://www.investorslending.com/library/pre-approved-mortgage.php Thu, 10 Jan 2008 10:00:00 EST Pre-approval is the process by which a potential buyer applies for financing with a lender or broker prior to securing a purchase agreement with a seller. The buyer usually has some idea of the proposed acquisition price, which the lender/broker uses along with credit and application information (i.e. employment & assets) to determine if the buyer/borrower is qualified to make a purchase at the proposed price. Mortgage http://www.investorslending.com/library/15-year-mortgage-rate.php http://www.investorslending.com/library/15-year-mortgage-rate.php Thu, 10 Jan 2008 10:00:00 EST Pay Yourself Instead of the Bank. Would you like to be mortgage-less before retirement, or maybe before your children start college? Maybe you would just like to save a whole bunch of cash over the course of your mortgage, perhaps a $100,000, or even more? The 15-year mortgage must be considered over the more traditional 30-year mortgage. Mortgage http://www.investorslending.com/library/stated-income-mortgage-loan.php http://www.investorslending.com/library/stated-income-mortgage-loan.php Thu, 10 Jan 2008 10:00:00 EST Limited Doc Mortgages - Let You Maintain Your Privacy. If you do not derive your income from a paycheck or you do not desire to disclose all to a lender, you can still obtain a mortgage, but this does not necessarily mean that you need to pay more. Here's how. Interest Rates http://www.investorslending.com/library/buy-down-rate.php http://www.investorslending.com/library/buy-down-rate.php Thu, 10 Jan 2008 10:00:00 EST How do you "buy" a better interest rate, and should you? The precursor to this question is another question: "How long do you plan on keeping the mortgage?" If you are planning to keep the mortgage for more than 3-years, paying points to reduce your interest rate usually always makes sense assuming that expending extra cash to this end at closing is not an issue. If you will only have the loan for 1-3 years, paying points may or may not make sense depending on Interest Rates http://www.investorslending.com/library/mortgage-rate-lock.php http://www.investorslending.com/library/mortgage-rate-lock.php Thu, 10 Jan 2008 10:00:00 EST A rate lock is a commitment by the lender to reserve a specific interest rate and a certain number of points for you, usually for a specified period of time, while your loan application is underwritten. Depending upon the lender, you are able to lock in the interest rate and number of points at time of submission, or may be required to wait until you have final approval. Mortgage http://www.investorslending.com/library/conforming-loan-limit.php http://www.investorslending.com/library/conforming-loan-limit.php Thu, 10 Jan 2008 10:00:00 EST Conforming Loan Limits effective January 1st, 2008 for continental United States, Alaska, Guam, Hawaii and the U.S. Virgin Islands are as follows.