Comments on: Who Owns Your Mortgage

By: Francisco

Francisco — Thu, 25 Jun 2009 14:58:02 +0000

Good afternoon,

My name is Francisco Salvat, I am VP of Banking with Supreme Lending, We are currently assisting Homeowners & Realtors with the refinance and purchase process of there properties and lowering interest rates back down to an average of 4.5% fixed on 30 year and 15 year mortgages, We have been very successful at assisting homeowners in lowering there rates and payments on investment and primary homes, we also have been very successful at assisting realtors with there purchases nation wide with a 3-8 day closing ratio. Now the benefit of doing business with Supreme Lending is that you will be dealing directly with the bank that deals directly with the government, the benefit of this is that there is no longer a middle man (Mortgage Broker) so therefore there are no astronomical fee’s nor is there any wait time (4-6 weeks) our average closing time is 3-8 business days from the date of submission, we approve, underwrite, and fund our loans the same day of closing. Again I would like the opportunity to assist you in any of your mortgage needs, all I ask is for 1% of trust with Supreme Lending, and I’ll return the other 99% guaranteed. It was a pleasure speaking with you, you have a wonderful day and I look forward to hearing from you.

Sincerely

Francisco Salvat

Mortgage Banker

Supreme Lending

Direct: 770 409 7957

Local: 770 903 9898 ext 228

Toll Free: 877 264 3222 ext 228

Fax: 678 298 9091

Email: francisco.salvat@thesupremelending.com

Website: http://www.thesupremelending.com

By: Joe Aldeguer

Joe Aldeguer — Thu, 26 Feb 2009 08:27:09 +0000

The mortgage must be executed according to the formalities required by the laws of the state where the property is located. It must describe the real estate and be signed by all owners, including nonowner spouses if the property is a homestead. Some states require witnesses as well as acknowledgement before a notary public.

By: computer verzekering

computer verzekering — Thu, 26 Feb 2009 06:20:53 +0000

This blog is great and has provided interesting and useful information. Thanks and I hope to see such information in the future as well.

By: condos

condos — Thu, 19 Feb 2009 03:26:54 +0000

i wonder how many people can truely answer that question?

By: 1LT Los

1LT Los — Tue, 17 Feb 2009 00:27:30 +0000

I purchased my home in summer of 2006 by placing some money down and financing through two loans One sub=prime at 6.47% and the second sub-prime at 6.57 but variable day by day. I looked things over and realized that in 2011, both the interest rates would climb. Therefore, In 2007 I decided to cashout my 403b and buy out my sub-prime variable that had at one point hit 14.78%. My intention was to pay back what I referred to as the “murderer” the second and then refinance the “assaulter” the first at a fixed rate and lower mortgage monthly. Well we all know that both the lending and the real estate industries toppled and I learned that my financial person was intending not to pay my First for three (3 ) months and then ask for a loan modification and fold the three months into the modified loan. Well I just gotoff the phone and my lender is just a servicing agent — they do not want to work with me to modify the loan - and I also just fired the Financial Person. I got the house because I pay my bills!!!! Not because I make a habit of falling behind! NOw my house will be in foreclosure come March 4th — I need some advice and help!!

By: Mortgage Modification

Mortgage Modification — Thu, 12 Feb 2009 07:15:11 +0000

Although a loan does not start out as income to the borrower, it becomes income to the borrower if the borrower is discharged of indebtedness.

By: Home Mortgage Loan

Home Mortgage Loan — Wed, 11 Feb 2009 13:02:15 +0000

Your post was really great & informative.

By: Home Loans

Home Loans — Thu, 15 Jan 2009 11:07:53 +0000

yes sometimes we feel that hard money is necessary for us to meet our basic requirements. sometimes home loans companies irritate much for their conditions.

By: Azran

Azran — Thu, 21 Aug 2008 16:45:08 +0000

Why go with Hard Money or Private Money Lenders?

Many Homeowners and Investors ask them selves this question, but sometimes you need to read more to get some knowledge and than you will understand if Hard Money can really help you.

First of all we understand that Hard Money Lenders are privately owned by a person or a small entity, basically it can be someone that have some money in the bank and he understands that to loan his money will be a much faster way to make more of it.
Example: You have $100,000 in your bank
Option 1- you will put the money in a CD account and make 4.75% APR.
Option 2- You will loan your money and make 12% APR and charge 5- 10 points on the loan.

So that’s what private Money Lenders do, they go with the second option- Smart.

So why go with a Hard Money Lender?

1. Faster funding time, 5-7 days
2. Less documentation to show.
3. No credit is OK.
4. Large Loan amounts are OK too, up to $500,000,000
5. Some Hard Money Lenders will fund deals out of the country as well.

As you can tell today it is a much better, faster and easier way to go.
You’re probably asking your selves about the costs for this loan?
The Interest rates are not more than 12%, while with a Bank it will be probably 8.5% if they can do the Loan at all.
The points will be not than 10 while Banks will charge up to 3.

Now that you understand the difference you can make a decision, to approach a Hard money Lender or just go with your Bank.

By: Rus

Rus — Tue, 19 Aug 2008 02:27:36 +0000

I think banks right now are an option. Credit unions as well. I am also checking places online and educating myself in the world of mortgages. eloans and other financing options are something to look into.