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Mortgage Matters

Thu, 14 Apr 2011 20:03:15 +0100

Mortgage Matters – Ensuring access to mortgages for the 62 million Americans in community associations

Mortgage Matters—Protecting communities, homeowners and homebuyers

Ensuring that Americans can obtain mortgages for homes in community associations.
Preserving the ability of community association homeowners to sell their homes.
Safeguarding the financial well-being of homeowners and condominium associations.

View our free CAI Mortgage Matters Webinar*

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http://www.caionline.org/govt/mortgagematters/Pages/default.aspx

Major types of home mortgage loans

Thu, 31 Mar 2011 12:40:18 +0100

If you are thinking of buying a home, you might need to finance it. Home mortgage helps you in realizing your dream of owning your home. However, you need to have a relatively good credit in order to get the required home loan or home mortgage so that you can buy your dream home. There are various kinds of home loans available as per the requirements of the consumer.

Different home mortgage types

Different major types of home mortgage available are:

1. Government loans - The government home mortgage is that which is insured by the government and generally has low interest rates in comparison to the conventional loans. Types of government home loans available are:

FHA loans - FHA home loans are fixed rate mortgages insured by the government. FHA loan terms generally range from 10 to 30 years. These home loans are even available for those who have low or fairly low credit score and for those people who cannot even make larger down payments. Another important thing about FHA loans is that you can get it at relatively low interest rates in comparison to the conventional ones.

VA Loans - VA loans are provided mainly for those veterans who had worked with U.S. Armed Services and are also available for the spouses of the deceased veterans too. The requirements or the eligibility to get these loans vary according to the years the veterans have served in the U.S. Armed Services and also whether or not the final discharge from the service was honorable. The main benefit of VA home loans is that it does not require you to make any down payments. VA loans are generally guaranteed by Department of Veteran Affairs, but are mainly funded by the conventional lenders.

2. Conventional loans - The conventional home loans are those which are offered by the private lenders like the banks and the other lending institutions. Types of conventional loans:

Fixed rate mortgage - In case of fixed rate mortgages the interest rate remains fixed throughout the loan term. The interest rate on 30 year mortgage is lower than that of the 15-year mortgage. Fixed rate mortgage types:

30 year fixed rate mortgage

15 year fixed rate mortgage

Adjustable-rate mortgage - In case of ARMs, the interest rate varies as the years pass. The rate initially remains low and increases with time. The rates can also vary as per the market index. Types of ARMs:

More Help With Forclosures

Thu, 03 Feb 2011 14:43:47 +0100

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Many homeowners may feel that they can no longer afford their home, but want to avoid the negative effects of foreclosure. The Home Affordable Foreclosure Alternatives (HAFA) Program offers homeowners, their mortgage servicers, and investors an incentive for completing a short sale or deed-in-lieu of foreclosure. With these options, under HAFA, a homeowner leaves their home to transition to more affordable housing and alleviate the mortgage debt they owe.

http://www.makinghomeaffordable.gov/hafa.html

Who Qualifies For Mortgage Help?

Fri, 28 Jan 2011 18:40:00 +0100

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NEVADA HOUSING DIVISION WANTS TO GET OUT THE FACTS:
Who qualifies for mortgage help and how to get it under the
new laws just passed by Congress?

Questions and answers about the Hope for Homeowners Act of 2008, passed by Congress last weekend and signed into law today, July 30th. It is important to try to steer as many as 400,000 struggling homeowners away from foreclosure:

For the rest of this article go here.

http://nvhousing.state.nv.us/pr/QandA4HR3221.pdf

Warning Signs for Forclosure Scams

Wed, 26 Jan 2011 01:52:27 +0100

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Unsolicited Contact

If you receive an unsolicited call or letter promising help, verify that the person promising help is actually from your lender or servicer. Technically, only your lender or servicer has the power to modify your loan. Scammers use public records to find out the default status of homeowners, and some of them pretend to be the lender holding the lien. However, you can usually verify if the offer for help is real by contacting your lender's customer-service line.

For the rest of this article go here.
http://fightfraud.nv.gov/ForeclosureScams_Warning_new.htm

Fight Forclosure

Wed, 26 Jan 2011 01:53:36 +0100

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Foreclosure Prevention

The best way to fight a foreclosure is to avoid it ever being filed. There are several actions you can take to prevent or delay foreclosure. This article explores some of them.

For the rest of this article go here..

http://real-estate-law.freeadvice.com/mortgage_matters/how-to-fight-foreclosure.htm

Forclosure Fraud (Don't Walk Away From Your Home).

Wed, 26 Jan 2011 13:32:57 +0100

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This article addresses some of the traps that have engulfed my clients, causing the loss, or near loss of their homes. Later I will explain why it is more advantageous to litigate rather than seek a loan modification or walking away from your home…

Trap 1: Not hiring a mortgage defense attorney who believes in winning.
Truth: You will lose your home.

For the rest of this article follow this link.
http://pouhka.livejournal.com/tag/home%20mortgage%20modification

Tenaya Creek Homeowners Association Has Gone Electric

Fri, 28 Jan 2011 13:40:37 +0100

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In order to help cut administrative costs The TCHOA has gone electric. We have created a Yahoo Mailing List for the Association to use to enhance communication between the Board and its membership.

To join a Yahoo Mailing List you need 1. a computer, 2. an E-mail address and 3. a free Yahoo account. If you don’t have any of these don’t worry. You’ll still get important notices via snail mail from Kenyon and Associates and can still voice your concerns to the following person...

To contact our HOA manager, Don Lamers.
Kenyon and Associates
Phone:775-674-8000 extension 107
Fax:775-674-8010
Email:don@kenyonandassociates.com

How do I set up my Yahoo! Groups account?

Here is the URL for Yahoo Groupshttp://groups.yahoo.com/

In the banner find "New to Yahoo Groups? Sign Up." Once you’ve signed up then navigate to...http://groups.yahoo.com/group/TenayaCreekHOA/ and "join up" by clicking the blue button on the

right hand side.

If you had a Yahoo Account but forgot your password or ID go here...https://edit.yahoo.com/forgotroot/

This is an attempt to cut costs. The more people we can get on the mailing list the less time and money we will have to spend sending out information to the homeowners. We will also save on ink and paper. If you have 1. a computer, 2. an E-mail address and 3. a free Yahoo account please take a moment to sign up for this service. Any questions contact jlamoreux@charter.net.