Second Mortgage

A report indicates that Florida is foreclosure hotspots, and points to possible predatory lending as the cause!
What are the legal ramifications? Can you rent a house in foreclosure in Georgia? Do you need to take a qualified legal advice? You definitely need to hire a lawyer that specializes in this area because it not only affects you but your business and there also appears to be some possible fraud on the part of your landlord as well.

Typically once a house is in foreclosure, you need to vacate immediately despite your lease saying otherwise. The lease that you held is now void because the “owner” of the property is now the bank and they didn’t give you the lease. Read the rest of this entry »

So are you looking for a mortgage company that can get you 100% financing and not a high rate with a mid score?

There are 100% financing options available at that level and rates are better than they were a few months ago. Obviously, no lender will give you an “A’ paper rate with that score but they will take factors into consideration (and depending on what caused that score, and what has been done to correct it, that may or may not help).

Normally the borrowers that ask that type of question are usually in denial about how bad their position really is. Well, it if you have a score like below 600, it indicates credit unworthiness (which can sometimes be unfair if there is a reason for the score and it is a temporary problem). As a result you are looking at rates higher than you would get with a 779 score. There is no lender who can avoid this. Read the rest of this entry »

Beware of These 3 Things!

Currently, Georgia has the strictest mortgage laws in the nation. According to The Georgia Fair Lending Act, home loan lenders cannot finance credit insurance or debt cancellation coverage into mortgages.

This rule was established to protect older individuals and families with low to moderate incomes from predatory lenders. Some mortgage lenders make affording a home loan impossible. They include higher rates and excessive fees, and unsuspecting borrowers agree to the terms. Before buying a home in Georgia, stay on guard against three common practices. Read the rest of this entry »

Find out which ones can help you to get the right second mortgage depending on your need.

If you are looking for 30 year second mortgage loan, then you can find a few here to start with. There are many national lenders that lend in GA. The two biggest in the country are Countrywide and Washington Mutual. A good web site to find many of these lenders is www.30year-mortgages.com Here you can find lenders that specialize in 30 year mortgages. They have several that lend in Georgia.

Do remember that all programs and rates depend upon your personal needs and qualifications. When you use a major direct lender, you forego broker junk fees and get competitive pricing with NO surprises at closing. There are a few lenders who can give guide you and give you a good rate, and closing costs that make sense. Read the rest of this entry »