The Top 10 Reasons Mortgage Companies Stopped Doing Second Mortgages
1. Mortgage companies starting around November 2007 stopped doing fixed second mortgages and home equity lines of credit (HELOC) due to changes going on in the mortgage industry. A lot of swift and sudden changes came to the type of companies that were farthest away from the actual money like the mortgage brokers, correspondent lenders, then the banks.
2. The banks are the one’s that set the guidelines for anybody who does business with them. Since a mortgage broker does not lend you the money (the bank does that the mortgage broker works with) they were told that they would not be honoring anymore fixed second mortgages or HELOC’s. This lead to a mad dash from all of the smaller companies to close these loans so they could sell them to the bank before the deadline or they would not be able to close.
3. What lead to this rush was a realization
Click here to continue readingThe Top 10 Reasons Why You Should Never Pay For A Credit Report
1. Paying for a credit report is something that a lot of people get told they need to do every six months or so. They go to a website that has the latest catchy jingle on the television and go there and buy a merged credit report from Equifax, Experian, and Trans Union.
2. The credit report is going to cost you probably $30 and you might even get told that you need to sign up for a credit watch thingy that costs you $25 a year or something. Stop wasting your money.
3. You already know what is on your credit report, or at least you should. What do you get bills for every month? Do you get a credit card bill? Yup, then it will be on there. Do you have a mortgage, car lease, boat loan, time share or any other monthly payments? Yes. Than guess what they will
Click here to continue readingThe Top 10 Reasons You Need To Pick The Right Second Mortgage
1. For those of you that do not know what a second mortgage is, it is a lien (loan) against a certain percentage of the equity of the home. What the mortgage company does is recognizes that you have a first mortgage on your home and they take the balance of that loan, get an appraisal on the home and say you have this amount of equity in the home. As an example, you have a first mortgage of $125k and the home is worth $200k, this gives you equity of $200k – $125k = $75k. Depending on what mortgage company you go with and what their guidelines are you could take out a second mortgage up to 100% of the value of the home.
2. During the real estate boom some lenders did second mortgages up to 125% of the value of the home because during that time the value of
Click here to continue readingThe Top 10 Reasons Build A Niche Store(BANS) Is The Best Affiliate Software
1. Build A Niche Store is an easy to use software that any internet marketing newbie can use.
2. BANS gives you directions on how to set up your stores.
3. The Build A Niche Store Members Forum has lots of great advice. Members are always putting their helpful hints on what they do to become successful.
4. BANS is a one time purchase with free up dates for life.
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7. Everybody knows eBay and will feel comfortable going through your site and purchasing products on eBay.
8. You can install the BANS software on as many sites or subdirectories as you want. The admin area is clean and easy to use.
9. The owners of the BANS software
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