Watch Video About FDIC Perks That Encourage Bank to Foreclose Instead of Modifying Mortgage – You Will Be Astounded!

We all recall when IndyMac Bank failed.  Well, if you don’t recall, trust me, the bank did fail.  Not long thereafter, OneWest Financial purchased the assets of IndyMac from the FDIC.  Apparently, the FDIC felt it important to give OneWest a near-guarantee that not only would it not fail, but would rake it extreme profits from [...]

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Is Now a Good Time to Refinance My Mortgage or is There Reason to Wait?

Visit msnbc.com for breaking news, world news, and news about the economy In case you have missed the headline financial news over the past few days, mortgage rates are once again quite low.  Check it out on this video featuring Today Show finance expert, Jean Chatzky. What caused the drop?  On Thursday, June 3, the jobs [...]

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

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 [...]

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Bank of America May Offer a Mortgage Solution for the Unemployed

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 [...]

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Somerset New Jersey Homes for Sale

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

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 [...]

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

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 [...]

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

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, [...]

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New Jersey Police Officer Charged With Mortgage Fraud

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 [...]

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

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 [...]

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

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 [...]

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Help For New Jersey Unemployed Homeowners Under New Government Program

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. Click to Share [...]

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