Tags |
|
|
Links |
|
|
Add You - Home Equity Loans - What to Look Out For
How to Brand Online?You know now why is important to brand online: because the Web is an open scene for a Global audience. You also know that, if you start branding online, you are not going to be the only one doing it. Yet don’t give up the thought. Embrace the challenge and be confident in your strengths. There are ways and means to become a w
No matter what your situation borrowers are well advised to follow common sense when picking a mortgage broker. There is a lot at stake. Don't press the "EASY" button.
J Krohn is a leading free lance writer on Home Equity and Mortgage issues with over 35 articles to his credit. He is also the #1 author of Home Security Articles i
We can automate many, many things in our lives. We have automatic dishwashers to wash our dishes – but somebody has to load it. We have automatic car washes to wash our cars, but we still have to drive the car into the car wash. We can make automated payments, but we still have to make sure that we make the money to pay those bills. The point is that w
Like any industry that is capital intensive with money flowing like wine there are a few bad apples in the barrel. There are lots of new brokers out there and some brokers are looking for get rich quick schemes. Real Estate market has been hot and will be again. When things slow down some brokers get overly aggressive and promise things they cannot deliver.
National Association of Mortgage Brokers (NAMB) says as many as 30% of brokers are questionable. Everyone should be made aware of some tactics used to exploit particularly weak borrowers or borrowers in financial trouble. Here are some examples.
Hidden Balloon Payment--
Nearly everyone has seen the ads for a high dollar amount loan for a ridiculously low monthly payment. What some lenders will do is forget to tell you that the payments are interest only and at the end of the term of the loan a huge balloon payment is due. If you can't refinance or pay the loan off you may lose your home.
Flipping Loans--
This is the practice of luring a borrower into repeated home equity loan refinancing over a period of time. Each time the rate goes up and points and other closing costs are rolled into the loan making the net proceeds lower than expected and the payments higher than expected.
"Home Improvement" Loan--
A contractor offers to do some much needed work on your house but you tell him you can't afford it. He offers to get financing thru a lender he has done business with before. The work on the house starts. Then you are asked to hurry and sign some papers for the loan. You realize the loan is a home equity loan and the rate is very high so you hesitate to sign. The contractor says he will not do any more work unless you sign. The contractor already has a lien on your property.
Bait and Switch Tactics--
This is the practice of getting to within a critical time of closing the home equity loan and finding out the terms are different from those agreed to. The unscrupulous lender is hoping that he has the borrower in a position that he must accept the terms.
No matter what your situation borrowers are well advised to follow common sense when picking a mortgage broker. There is a lot at stake. Don't press the "EASY" button.
J Krohn is a leading free lance writer on Home Equity and Mortgage issues with over 35 articles to his credit. He is also the #1 author of Home Security Articles in
An opt-in list is the absolute most effective marketing tool available on the Internet. Not only do they provide you with a direct line of communication with your target market, but they also enable you to develop a trusting relationship with your subscribers.The key to using an opt-in list effectively is to develop a large subscriber base. Not
National Association of Mortgage Brokers (NAMB) says as many as 30% of brokers are questionable. Everyone should be made aware of some tactics used to exploit particularly weak borrowers or borrowers in financial trouble. Here are some examples.
Hidden Balloon Payment--
Nearly everyone has seen the ads for a high dollar amount loan for a ridiculously low monthly payment. What some lenders will do is forget to tell you that the payments are interest only and at the end of the term of the loan a huge balloon payment is due. If you can't refinance or pay the loan off you may lose your home.
Flipping Loans--
This is the practice of luring a borrower into repeated home equity loan refinancing over a period of time. Each time the rate goes up and points and other closing costs are rolled into the loan making the net proceeds lower than expected and the payments higher than expected.
"Home Improvement" Loan--
A contractor offers to do some much needed work on your house but you tell him you can't afford it. He offers to get financing thru a lender he has done business with before. The work on the house starts. Then you are asked to hurry and sign some papers for the loan. You realize the loan is a home equity loan and the rate is very high so you hesitate to sign. The contractor says he will not do any more work unless you sign. The contractor already has a lien on your property.
Bait and Switch Tactics--
This is the practice of getting to within a critical time of closing the home equity loan and finding out the terms are different from those agreed to. The unscrupulous lender is hoping that he has the borrower in a position that he must accept the terms.
No matter what your situation borrowers are well advised to follow common sense when picking a mortgage broker. There is a lot at stake. Don't press the "EASY" button.
J Krohn is a leading free lance writer on Home Equity and Mortgage issues with over 35 articles to his credit. He is also the #1 author of Home Security Articles i
The average student entering higher education will now leave university with debts of around ?10,000. This is made up from a combination of student loans, credit cards and overdrafts. This figure however is set to sky rocket as Barclays predicts students graduating in 2010 will be facing ?30,000 of debt.Although some figures show that graduates
Flipping Loans--
This is the practice of luring a borrower into repeated home equity loan refinancing over a period of time. Each time the rate goes up and points and other closing costs are rolled into the loan making the net proceeds lower than expected and the payments higher than expected.
"Home Improvement" Loan--
A contractor offers to do some much needed work on your house but you tell him you can't afford it. He offers to get financing thru a lender he has done business with before. The work on the house starts. Then you are asked to hurry and sign some papers for the loan. You realize the loan is a home equity loan and the rate is very high so you hesitate to sign. The contractor says he will not do any more work unless you sign. The contractor already has a lien on your property.
Bait and Switch Tactics--
This is the practice of getting to within a critical time of closing the home equity loan and finding out the terms are different from those agreed to. The unscrupulous lender is hoping that he has the borrower in a position that he must accept the terms.
No matter what your situation borrowers are well advised to follow common sense when picking a mortgage broker. There is a lot at stake. Don't press the "EASY" button.
J Krohn is a leading free lance writer on Home Equity and Mortgage issues with over 35 articles to his credit. He is also the #1 author of Home Security Articles i
Do you want to be #1-10 on Google and other search engines? Do you want quadruple your Web sales in five months? Promote your business to the top with these 7 reasons to write and submit how-to articles. 1. Reach 10,000 to 150,000 targeted potential customers or clients every week Online that translates to increased sales. These people sign up
Bait and Switch Tactics--
This is the practice of getting to within a critical time of closing the home equity loan and finding out the terms are different from those agreed to. The unscrupulous lender is hoping that he has the borrower in a position that he must accept the terms.
No matter what your situation borrowers are well advised to follow common sense when picking a mortgage broker. There is a lot at stake. Don't press the "EASY" button.
J Krohn is a leading free lance writer on Home Equity and Mortgage issues with over 35 articles to his credit. He is also the #1 author of Home Security Articles i
The quickest and cheapest way to build traffic today is by writing articles. By writing articles on your niche topic, you build credibility in your market. Submit your articles to the hundreds of article directories and you will create a viral stream of steady traffic. Your articles are posted on websites all over the internet and will have a resource
No matter what your situation borrowers are well advised to follow common sense when picking a mortgage broker. There is a lot at stake. Don't press the "EASY" button.
J Krohn is a leading free lance writer on Home Equity and Mortgage issues with over 35 articles to his credit. He is also the #1 author of Home Security Articles in the country according to Ezine Articles.
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.addyou.info/article/142239/addyou-Home-Equity-Loans--What-to-Look-Out-For.html">Home Equity Loans - What to Look Out For</a>
BB link (for phorums):
[url=http://www.addyou.info/article/142239/addyou-Home-Equity-Loans--What-to-Look-Out-For.html]Home Equity Loans - What to Look Out For[/url]
Related Articles:
Three Steps to Your Own Import Export Business
Why Your Business Might Need A Retail Merchant Account
Top 3 Affiliate Marketing Tactics To Earn Big Profits
Bookmark it:
|