RealtyBizNews: Real Estate News & More
With the latest on mortgages, refinancing, real estate & home tips
In part one of this multi-part series, we’re discussing various ways to creatively finance your next home purchase, even if you just went through a foreclosure last month. There are literally dozens of creative ways to purchase a piece of real estate, but your local mortgage lender does not want you to know that you can do so without jumping through endless “hoops” trying to qualify for a mortgage.
Since the housing melt-down in 2008, Government domination of the U.S. mortgage market has grown exponentially. Virtually all private investment capital has disappeared from the mortgage industry, meaning that anyone who depends on home sales for a living is facing the prospect of their economic future being controlled by a small group of government institutions
It’s a familiar story. If you google “bank told me to miss a payment” you’ll find dozens of posts and articles about folks who say that they were current on their mortgage, and were told by their mortgage company or their mortgage servicer that they would have a better chance of qualifying for various refinancing programs if they are behind on their mortgage.
Call me old-fashioned, stick in the mud, whatever euphemism you care to throw at me, but I’m uneasy about the fact that computer logic affects my ability to obtain lender financing.
No matter how much preparation you do for an auction eventually, you’re going to have to deal with problems when they crop up. No amount of research can prevent this, but what separates the average investor from the professional one is how they deal with the problem. They can either let it break them, or figure out a way to profit even if they’ve made mistakes.
These days many folks with cash savings, CD’s or IRA’s are in search of ways to increase their returns. Interest rates for bank CD’s, savings accounts, money market funds and IRA’s are just not what they used to be, and so many folks are considering non-traditional investments, because of the potential for higher interest income.
Unless you had an unlimited budget when purchasing a home you probably had some items that you were forced to settle with. Perhaps you wanted a bigger kitchen or living space but compromised in order to find a nice home within your target price range. Whatever the case increasing your satisfaction with your home, a [...]
