Margate

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Big Banks Cutting Thousands of Mortgage Jobs as Financial Situation Stabilizes

Bank of America is the second largest bank in the country, yet they’re poised to cut thousands of jobs in their mortgage departments in response to an unforgiving housing market and a severe lack of refinancing applications. Most of the jobs being eliminated deal with mortgage modifications or foreclosures as an upturn in the economy has lessened the number of people who are struggling to keep their homes. When the housing market reached its lowest point several years ago, many large banks such as Chase and Wells Fargo contracted outside companies to help with the large influx of foreclosures and modification applications they were receiving. Most of the 3,000 jobs Bank of America plans to cut were those contracted to help during the crisis. Bank of America isn’t alone in…
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What to Know Before Getting Loan in South Florida

The process of purchasing a home can be a daunting experience for first-time home buyers. Many think it’s a dizzying maze of paperwork, credit checks and gathering documentation. But if you prepare correctly, securing a mortgage really isn’t as complicated as it seems. The rules of today of aren’t the same as five years ago. Before you start house hunting, it’s a good idea to gather and organize all the required documents. This will make the process much easier to find the right home for you.  It’s important to have patience. Because of the recent housing burst, it might take a longer period of time to secure a mortgage loan. Today’s lending standards are stricter than the days of 2005 and 2006. But don’t be intimidated. A responsible mortgage lender…
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Never Pay Up Front for a Loan Modification!

  Here at Ace Mortgage Loan Corp, we hate to hear about people who thought they were getting a great deal on a mortgage loan or mortgage modification only to get scammed out of their hard earned dollars. There are plenty of scams going on all across the country and honest, hardworking people are getting absolutely raked over the coals by swindlers, crooks and immoral vagrants. We’ve been going over a few of the most common scams in the blog lately and we’ve got another one to talk about today. Often referred to by some as a “phantom of the loan mod” this kind of mortgage scam gets people to pay up front and then they get left high and dry. Paying a fee up front is illegal, it’s plain…
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Protect Yourself from Horrible Deed Theft Scams

  When it comes to mortgage scams, it’s really easy to get hoodwinked into signing away your house without every realizing it. Deed theft is one such scam that is a serious problem here in the United States. Ever since the housing market collapse a few years ago, people have been suckered into scams like deed theft which take advantage of people who are quickly approaching a desperate situation in order to keep their house. Ace Mortgage Loan Corp always values honesty and transparency above all else and we hate to hear about people who fall victim to these terrible scams. Let’s take a look at how deed theft scams can happen. Deed thefts are often billed like any other mortgage scam. A desperate homeowner is offered a deal that…
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Spotting a Mortgage Scam in Pompano

  There’s a whole lot to consider when it comes to getting a mortgage loan in Pompano Beach. With the economy still on the rebound and the housing market also recovering, many people are falling victim to a variety of mortgage scams. Here at Ace Mortgage Loan Corp, we always hate to hear stories of people loosing thousands in cleverly crafted mortgage scams. It doesn’t matter how smart you think you are or how much research you have done, expert scammers do everything right to make their heist seem legitimate. It happens to thousands of people every year and there doesn’t seem to be any end in sight. Don’t ever trust a mortgage lender who’s offer sounds too good to be true, because it probably is. Once you sign your…
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The Best Mortgage Broker in Delray Beach

  As the housing market continues to rebound, higher mortgage rates aren’t the only costs on the rise. All across the country, mortgage closing fees are up nearly 6% from last year. This is generally to be expected as rising rates means creditors are not making as much money on what they lend. Since the refinancing market is in decline, don’t expect fees to remain high as lenders want to be competitive in their prices in order to attract new clients. Shopping around for a mortgage broker in Delray Beach is the best way to find the best home mortgage loan for you. The professional mortgage brokers at Ace Mortgage Loan Corporation are ready to help anyone find the home loan that fits their situation. Getting help from a company…
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Home Buying Slows This Week

As was expected with the recent increase in mortgage rates, home buying has slowed 3% from last week according to the Mortgage Bankers Association. Those looking to refinance their mortgage also fell 3% from last week’s numbers. Despite the decrease in home buying, the housing market is still seen as in recovery mode as the purchasing rate is much higher than it was last year at this time. The Florida housing market, which was one of the hardest hit during the financial crisis a few years ago, is recovering very well in fact. The home price index for Palm Beach, Broward and Miami-Dade are 13% higher than they were last year. It’s always a good thing for homeowners when their home value goes up. Higher home prices and rising interest…
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Check Out Our Latest Mortgage Loan Video!

  Ace Mortgage Loan Corporation is dedicated to helping our clients achieve their dream of home ownership. First time home buyers are obviously hesitant to jump right into the often confusing housing market, but thanks to the professional home loan experts at Ace Mortgage Loan Corporation, a first time home buyer has nothing to worry about. Here at Ace we go out of our way to ensure that our clients fully understand the details of their new mortgage so the isn't any room for confusion. We work closely with our clients throughout the process of obtaining a mortgage loan in South Florida. Ace Mortgage proudly serves the people of: Coral Springs Boca Raton Delray Beach Margate Pompano Beach Davie Coconut Creek Check out our latest video about mortgages and home…
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Mortgage Loan Refinancing May Be Winding Down

  The interest rate for 30-year fixed-rate mortgages has steadily rose over the past few weeks, reaching %4 for the first time in a year. As the rates continue to climb, many people are scrambling to refinance their mortgage before rates climb even higher. Since the subprime mortgage crisis is nearly over and the housing market is rebounding, it’s easier for people to refinance because their homes are worth more. Many are refinancing away from adjustable-rate mortgages and into fix-rate mortgages. People worrying about inflation is the most common reason for the switch. When it comes time to refinancing your mortgage in the greater Boca Raton area, your first stop should be the mortgage loan professionals at Ace Mortgage Loan Corporation. Refinancing a mortgage isn’t rocket science, but having the…

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