Are You Self-Employed in New Jersey and Need Mortgage Financing? 5 Things You Need to Know

June 6, 2010

Nothing beats being your own boss, except maybe when you go to apply for a mortgage loan. When the time comes that you need financing for your home, getting qualified and approved involves a different set of circumstances than what’s typical for the salaried borrower.  But it’s nothing that proper planning can’t conquer.  Self-employed borrowers [...]

Read Full Article & Comment →

Bank of America May Offer a Mortgage Solution for the Unemployed

June 4, 2010

Pretty soon, there may be good news for Bank of America mortgage holders who have fallen behind with home loan payments.  The bank’s pending plan is to:  (1) forgive payments for up to nine months, or (2) defer payments.  This would apply to borrowers who lost their jobs due to the recession.
According to Bank of America, if the borrower finds new [...]

Read Full Article & Comment →

Somerset New Jersey Homes for Sale

June 1, 2010

Click to visit listings. 

Read Full Article & Comment →

New Jersey Borrowers Will Pay Much More With Lower Credit Scores

May 22, 2010

Lower credit scores create a heavy financial burden on New Jersey borrowers.  There’s nothing new about that.  But, after the downturn in our economy, the impact is much more consequential.   Take a peak at the tables below to see the differences in monthly payments with various credit scores. (Note that the interest rates shown are only to [...]

Read Full Article & Comment →

Higher Credit Scores Will Get You a Lower Rate: Raise Scores With a Secured Visa Credit Card

May 18, 2010

Having a high credit score means more today than I can ever remember.  Your chances of getting credit with a score under 620 is virtually impossible. Just 3 years ago, almost anyone could buy a home and get a mortgage with a 560 score. And, you could have done it with zero down. But unless you [...]

Read Full Article & Comment →

Did You Know? It is 100% Perfectly Legal to “Repair” Your Credit – And You Should

May 17, 2010

Repairing your credit with the credit bureau is definitely your right and it is completely legal.   In reality, “credit repair” may be a poor description.   Who knows where the term originated.   What consumers are really doing is making certain the credit bureau reports accurate information about their debt management.  Credit bureaus cannot report information that [...]

Read Full Article & Comment →

Tax Credits For Energy Efficient Home Improvements for New Jersey Homeowners: Insulation, Windows, Heaters And More

May 11, 2010

Congress has extended the energy efficiency tax credits for most homeowners through the end of 2010.  If you’ve been looking to upgrade your windows and doors, air conditioner system, water heater and other appliances, you may qualify for a tax credit. In fact, some tax credits for home improvements will be available until 2016. 

If you purchase an energy-efficient product for your home, you [...]

Read Full Article & Comment →

New Jersey Police Officer Charged With Mortgage Fraud

May 9, 2010

Courtesy of  Joe Ryan/The Star-Ledger
March 10, 2010, 6:20PM
SECACUS — JERSEY CITY — A Jersey City police officer was charged today in federal court with bank fraud for allegedly lying to secure a loan of about $530,000, authorities said.
Brian Ragauckas, 36, of Secaucus, falsely claimed he was a first-time home buyer in 2008 when he applied [...]

Read Full Article & Comment →

Did You Know? Obnoxious Credit Card Interest Rates Started With a Deal Between Citibank and a Governor

May 8, 2010

When William “Wild Bill” Janklow was Governor of South Dakota in the early 80’s, he made a deal with Citibank that would throw the roof off credit card interest rates.  “Wild Bill” would eventually give rise to credit card balances and bills that were off the charts due to enormous interest rates.  Janklow was a one-man political [...]

Read Full Article & Comment →

New Jersey Mortgage Shoppers Can Rob The Bank With a Long Term Adjustable Rate Mortgage – Get the Facts Before You Judge

May 8, 2010

The 5-Year ARM Is a Mortgage Steal
Any borrower in the market for a mortgage loan in New Jersey right now should NOT pass up the savings that can be had with the 5/1 adjustable rate mortgage.  Rates are unbelievably low compared to the 30-year fixed rate.  These mortgages are prime rate, Fannie Mae and FHA loans.  [...]

Read Full Article & Comment →

Help For New Jersey Unemployed Homeowners Under New Government Program

April 26, 2010

Some unemployed homeowners will get a few months of relief on mortgage payments.  In a new government assistance plan, unemployed homeowners who are collecting unemployment AND who are no more than 90 days late can apply to get mortgage payments waived for a few months.  No credit requirements.  Homeowners should contact their lenders for details.

Read Full Article & Comment →

John Paulson of Goldman Sachs Raked in a $Billion$ Dollars Betting Homeowners Would Lose Homes to Foreclosure

April 26, 2010

And Here’s The Rest of the Story Uncovered ”After” The Bailout
John Paulson of Goldman Sachs raked in a Billion Dollars (“billion”) after betting that untold numbers of homeowners would lose their homes to foreclosure.  In his plight to get rich, Paulson and Goldman Sachs allegedly defrauded its own investors with profitable side bets on real estate [...]

Read Full Article & Comment →

← Previous Entries

Next Entries →