Home Loan

Home Equity Scams: Borrowers Beware! Home Equity Loans : Borrowers Beware! D o you own your home? If so, it's likely to be your greatest single asset. Unfortunately, if you agree to a loan that's based on the equity you have in your home, you may be putting your most valuable asset at risk. Homeowners-particularly elderly, minority and those with low incomes or poor credit-should be careful when borrowing money based on their home equity. Why? Certain abusive or exploitative lenders target these borrowers, who unwittingly may be putting their home on the line. Abusive lending practices range from equity stripping and loan flipping to hiding loan terms and packing a loan with extra charges. The Federal Trade Commission urges you to be aware of these loan practices to avoid losing your home. The Practices Equity Stripping You need money. You don't have much income coming in each month. You have built up equity in your home. A lender tells you that you could get a loan, even though you know your income is just not enough to keep up with the monthly payments. The lender encourages you to "pad" your income on your application form to help get the loan approved. This lender may be out to steal the equity you have built up in your home. The lender doesn't care if you can't keep up with the monthly payments. As soon as you don't, the lender will foreclose-taking your home and stripping you of the equity you have spent years building. If you take out a loan but don't have enough income to make the monthly payments, you are being set up. You probably will lose your home. Hidden Loan Terms: The Balloon Payment You've fallen behind in your mortgage payments and may face foreclosure. Another lender offers to save you from foreclosure by refinancing your mortgage and lowering your monthly payments. Look carefully at the loan terms. The payments may be lower because the lender is offering a loan on which you repay only the interest each month. At the end of the loan term, the principal-that is, the entire amount that you borrowed-is due in one lump sum called a balloon payment. If you can't make the balloon payment or refinance, you face foreclosure and the loss of your home. Loan Flipping Suppose you've had your mortgage for years. The interest rate is low and the monthly payments fit nicely into your budget, but you could use some extra money. A lender calls to talk about refinancing, and using the availability of extra cash as bait, claims it's time the equity in your home started "working" for you. You agree to refinance your loan. After you've made a few payments on the loan, the lender calls to offer you a bigger loan for, say, a vacation. If you accept the offer, the lender refinances your original loan and then lends you additional money. In this practice-often called "flipping"-the lender charges you high points and fees each time you refinance, and may increase your interest rate as well. If the loan has a prepayment penalty, you will have to pay that penalty each time you take out a new loan. You now have some extra money and a lot more debt, stretched out over a longer time. The extra cash you receive may be less than the additional costs and fees you were charged for the refinancing. And what's worse, you are now paying interest on those extra fees charged in each refinancing. Long story short? With each refinancing, you've increased your debt and probably are paying a very high price for some extra cash. After a while, if you get in over your head and can't pay, you could lose your home. The "Home Improvement" Loan A contractor calls or knocks on your door and offers to install a new roof or remodel your kitchen at a price that sounds reasonable. You tell him you're interested, but can't afford it. He tells you it's no problem-he can arrange financing through a lender he knows. You agree to the project, and the contractor begins work. At some point after the contractor begins, you are asked to sign a lot of papers. The papers may be blank or the lender may rush you to sign before you have time to read what you've been given. The contractor threatens to leave the work on your house unfinished if you don't sign. You sign the papers. Only later, you realize that the papers you signed are a home equity loan. The interest rate, points and fees seem very high. To make matters worse, the work on your home isn't done right or hasn't been completed, and the contractor, who may have been paid by the lender, has little interest in completing the work to your satisfaction. Credit Insurance Packing You've just agreed to a mortgage on terms you think you can afford. At closing, the lender gives you papers to sign that include charges for credit insurance or other "benefits" that you did not ask for and do not want. The lender hopes you don't notice this, and that you just sign the loan papers where you are asked to sign. The lender doesn't explain exactly how much extra money this will cost you each month on your loan. If you do notice, you're afraid that if you ask questions or object, you might not get the loan. The lender may tell you that this insurance comes with the loan, making you think that it comes at no additional cost. Or, if you object, the lender may even tell you that if you want the loan without the insurance, the loan papers will have to be rewritten, that it could take several days, and that the manager may reconsider the loan altogether. If you agree to buy the insurance, you really are paying extra for the loan by buying a product you may not want or need. Mortgage Servicing Abuses After you get a mortgage, you receive a letter from your lender saying that your monthly payments will be higher than you expected. The lender says that your payments include escrow for taxes and insurance even though you arranged to pay those items yourself with the lender's okay. Later, a message from the lender says you are being charged late fees. But you know your payments were on time. Or, you may receive a message saying that you failed to maintain required property insurance and the lender is buying more costly insurance at your expense. Other charges that you don't understand-like legal fees-are added to the amount you owe, increasing your monthly payments or the amount you owe at the end of the loan term. The lender doesn't provide you with an accurate or complete account of these charges. You ask for a payoff statement to refinance with another lender and receive a statement that's inaccurate or incomplete. The lender's actions make it almost impossible to determine how much you've paid or how much you owe. You may pay more than you owe. Signing Over Your Deed If you are having trouble paying your mortgage and the lender has threatened to foreclose and take your home, you may feel desperate. Another "lender" may contact you with an offer to help you find new financing. Before he can help you, he asks you to deed your property to him, claiming that it's a temporary measure to prevent foreclosure. The promised refinancing that would let you save your home never comes through. Once the lender has the deed to your property, he starts to treat it as his own. He may borrow against it (for his benefit, not yours) or even sell it to someone else. Because you don't own the home any more, you won't get any money when the property is sold. The lender will treat you as a tenant and your mortgage payments as rent. If your "rent" payments are late, you can be evicted from your home. Protecting Yourself You can protect yourself against losing your home to inappropriate lending practices. Here's how: Don't: Agree to a home equity loan if you don't have enough income to make the monthly payments. Sign any document you haven't read or any document that has blank spaces to be filled in after you sign. Let anyone pressure you into signing any document. Agree to a loan that includes credit insurance or extra products you don't want. Let the promise of extra cash or lower monthly payments get in the way of your good judgment about whether the cost you will pay for the loan is really worth it. Deed your property to anyone. First consult an attorney, a knowledgeable family member, or someone else you trust. Do: Ask specifically if credit insurance is required as a condition of the loan. If it isn't, and a charge is included in your loan and you don't want the insurance, ask that the charge be removed from the loan documents. If you want the added security of credit insurance, shop around for the best rates. Keep careful records of what you've paid, including billing statements and canceled checks. Challenge any charge you think is inaccurate. Check contractors' references when it is time to have work done in your home. Get more than one estimate. Read all items carefully. If you need an explanation of any terms or conditions, talk to someone you can trust, such as a knowledgeable family member or an attorney. Consider all the costs of financing before you agree to a loan. For More Information The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or to get free information on consumer issues , visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft and other fraud-related complaints into Consumer Sentinel , a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad. FEDERAL TRADE COMMISSION FOR THE CONSUMER 1-877-FTC-HELP www.ftc.gov April 1998

home mortgage tools ,

Maine Home Mortgage Home Page. Welcome to Maine Home Mortgage Choose Experience and the Lowest Mortgage Rates in Maine . Serving Maine for over 15 years . Now is the perfect time to take advantage of low interest ratesto purchase real estate in Maine or refinance a mortgage in Maine. Use our web site to applyfor a mortgage online , use our home mortgage tools , view our home loan programs , contactus , or learn more aboutus ! It only takes 10 minutes to apply for a Maine Home Mortgage by phone or online! Local: 1-800-LOW-RATE / Out of State: 1-800-471-5730 Free Credit Report with Mortgage Application! We offer a variety of loan application options , including a Quick Application, a Standard Application, and a 5 Step Application that allows you to log in and complete your mortgage application later. To see how easy it is to apply for a mortgage online with Maine Home Mortgage, click here . Whatever your Maine mortgage residential financing needs, we will tailor a home loan that's right for you: Purchase Refinance Construction Home Improvement Home Equity Loans Investment Properties 100% Financing Debt Consolidation Loans Stated Income Loans Damaged Credit Loans! VA/FHA Seasonal Properties And more ! Distressed Credit? Get Answers Here! SELECTED RATES. CHECK MENU FOR MORE Rate APR Disc. Points 30 Year Fixed 6.125% 6.182% 0.000 20 Year Fixed 6.000% 6.076% 0.000 15 Year Fixed 5.875% 5.970% 0.000 30 Year Fixed Jumbo 6.375% 6.384% 0.000 15 Year Fixed Jumbo 6.000% 6.015% 0.000 3/1 ARM 5.750% 7.224% 0.000 5/1 Year ARM 5.875% 8.336% 0.000 Assumptions Apply Now! Portland Lewiston Bangor Augusta Maine Home Mortgage, your experienced, statewide mortgage lender and mortgage broker, offering the lowest rates for all kinds of home loans, whether for purchase or refinance. Check rates and apply on-line, or call 1-800-471-5730. It only takes a five minutes, so apply now. Equal Housing Lender. © 2005 Maine Home Mortgage. Trade/service marks are the property of Maine Home Mortgage and/or its subsidiaries. Back to Top | Apply Now | Contact Us | Home | Privacy | Licensing DESIGNED AND POWERED BY ETRAFFICERS, LLC .

Florida Real Estate Welcome

Destin Florida Real Estate Destin Florida Real Estate Listings Buyers Sellers Resources Home | Contact $1,195,000 Property Types Condos Homes Land Townhomes Commercial Fractional Desired Features Golf Course Waterfront Fenced Yard Pool Gated All Price & Area $min 50k 100k 150k 200k 250k 300k 350k 400k 450k 500k 550k 600k 700k 800k 900k 1.0m 2.0m 3.0m 4.0m 5.0m No Min ¯ $max 50k 100k 150k 200k 250k 300k 350k 400k 450k 500k 550k 600k 700k 800k 900k 1.0m 2.0m 3.0m 4.0m 5.0m No Max Select Region (All) Miramar Beach / Sandestin Fort Walton Beach Santa Rosa Beach Destin Mary Esther Seacrest Beach Panama City Beach Rosemary Beach Point Washington Receive Weekly Updates On every new home and condo listing on the Emerald Coast. All new listings every week! Receive Weekly Updates Name: Email: Main Links Home Listings Home Search Featured Listings Buyers Sellers About Destin Florida Destin Florida Homes Destin Florida Condos Contact Local Areas South Walton Fort Walton Beach Miramar Beach Santa Rosa Beach Blue Mountain Beach Grayton Beach Sandestin Seagrove Seaside Watercolor Okaloosa Island Dune Allen Beach WaterSound Beach Inlet Beach Destin Florida Real Estate Welcome to Destin Florida Real Estate sponsored by Ed Kirkland & Associates the #1 real estate agents in Destin florida. We have designed this website to make it easy for you to access all Destin Florida real estate available in the Destin MLS and surrounding areas. To start your home search just click on a price range below or visit our Destin Florida MLS Listings section Homes by Price Range Search by Property Type $300,00 - $ 500,000 Single Family Homes $ 500,000 - $ 600,000 Condominiums $ 600,000 - $ 800,000 Townhomes $ 800,000 - $ 1,000,000 Vacant Land $ 1,000,000 - $ 2,000,000 Fractional Ownership $ 2,000,000 & Up Commercial Are you looking to buy a home or second home in Destin Florida? Our team of real estate experts know the Destin home market like the back of our hand and we are here to help guide you through the selection, and purchasing process so that you can be laying on the beach enjoying your new Destin home before you know it.Call the Destin Real Estate Team now! Toll free 1- 800-227-8654 top Listings Home Search Buyers Sellers Resources Real Estate Web Design: RealEstateWebmasters © 2004-2005 Destin Florida Real Estate REMAX Coastal Propeties: Ed Kirkland Broker/Owner,CRS/ABR/E-PRO

Selling Home

Selling A Home - Selling a Home Made Simple - RBC Royal Bank RBC.com | Search | Site Map | Contact Us | Legal Terms | Français Select Region Canada US International Other RBC Sites: Banking Investments Insurance SIGN IN Online Services Online Banking Online Investing Visa Inquiry RBC ROYAL BANK SELLING A HOME Preparing Your Home Real Estate Agents Selling on Your Own Negotiating the Sale The Closing Financing Planning Your Move Downsizing Your Home MORTGAGE RATES SEARCH Selling a Home Made Simple Preparing Your Home So you've decided to sell your home. Let's take a look at all the things you can do to increase your chances of success. Price it to sell Tips to higher prices Real Estate Agents As the vendor, you may hire a real estate professional to help you sell your home. Understand what services you can expect from your real estate agent. Selling on Your Own You need to carefully examine your capabilities and skills as a potential real estate agent before jumping in. Negotiating the Sale If you accept an offer, what can go wrong? And what measures should you take to protect yourself legally? For extra convenience, fill in a RBC Royal Bank Pre-Approved Mortgage Application online. Talk to a Mortgage Specialist How Much can You Afford? Mortgage Calculator Choosing the Right Mortgage Term Mortgages Insurance Mutual Funds GICs Buying a Home Renovating a Home back to top rbcroyalbank.com is operated by Royal Bank of Canada. Privacy | Legal Terms | Security ©Royal Bank of Canada 1995 - 2005 Last modified: 03/03/2005 13:33:33

Real Estate Investing Dolf

Real Estate Investing Subscribe Book of Lists Sales Power Marketplace bizwomen Money Franchise Center HR Help Email Alerts Jobs Entrepreneur Classifieds Sales Leads Latest News Print Editions Contact Paid Advertisement Article Paid Advertisement Real Estate Investing Dolf de Roos is on a mission to show you how you can make ten timesmore money with real estate investing for yourself than creating wealthfor someone else. Dolf says that when it comes to being rich or poor,there are only two types of people: those who have wealth creationsystems, and those who work for those who have them. As Dolf has traveled the world, he"s shocked a lot of people when theydiscover that he studied 8 years to earn his Ph.D. and then turned downa job offer for $32,000. A week earlier, Dolf had closed on a realestate investing deal that put $35,000 in his bank account in one lumpsum. With the proper real estate marketing techniques, this couldhappen to you too. Dolf de Roos still continues to take regular people and he shows themexactly what to do to unleash their hidden wealth earning potentialwith real estate investing. He says that people need to quit givingaway their money to someone else in a regular 9-5 job. Learningeffective real estate marketing can really do wonders to someone"sincome. After Dolf"s first experience with real estate investing, he decided tothrow himself into real estate investing full-time. Things were notalways easy for him, but he had one challenge that was unique to him.When Dolf was seventeen, he looked about twelve. The first bank managerhe visited to seek a mortgage thought it was a joke, but he persevered.He wouldn"t give up when he knew that he could make a fortune in realestate investing. Having uncovered the common success factor of the wealthy along withhis first experience of making as much in a week with real estateinvesting as he could in one year working a 9 to 5 job with a boss,Dolf never turned back, and the rest is history. Since then, many manypeople have sought out Dolf"s help in their own real estate marketingventures and have found success. Find out what Dolf de Roos is allabout! Paid Advertisement Article Home | Subscribe | Book of Lists | Reprints | Email Alerts | Classifieds | Latest News | Print Editions | Services Sales Power | Money Center | Entrepreneur | HR Help Center Community | Search | RSS Feeds bizjournals | Contact Us | Site FAQ Our brands: Search Engine Optimization by Use of, or registration on, this site constitutes acceptance of our User Agreement Please read our Privacy Policy ©2004 American City Business Journals, Inc. and its licensors. All rights reserved. Contact us here . The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of bizjournals.