mortgage coral springs

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Refinancing Coral Springs, FL: Underwater on your Mortgage? Do Not risk Short Sale; Reaffirm your Finances with a FHA Streamline Refinancing

What does it mean to be underwater on your mortgage? Simply stated, if you owe, on your mortgage, more than your home is actually worth, then you are what is called “underwater.” Another name for this is negative equity. No matter what you call it, being underwater can be a seriously frustrating situation. What’s worse is that this is an all too common situation. Recent reports from CNN Money have held that one in five homeowners are underwater in their mortgages. The reason this can happen and has happened in the recent recession is that people have bought home in the early 200’s and over the past few years, their homes have depreciated in value to below what they owe. There are two main options for a homeowner in this…
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Refinancing a Home in South Florida

Homeowners who are looking into options that will help reduce their monthly expense, lower repayment times or lock in a fixed-rate mortgage often consider refinancing as a potential solution to their problems. Understanding the basics of what mortgage refinancing is and how the process works is the key to getting the most out of the process. What Refinancing Is Home refinancing is a very specific type of house loan. Refinancing refers to taking out a new loan to repay the original mortgage. In effect, it is a new mortgage on the house. The loan can provide the equivalent of the current mortgage or it can provide funds up to the full value of the home, depending on the needs of consumers. Like the original mortgage, refinancing will use the house…
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Understanding Fannie Mae and Freddie Mac

  Many first time home buyers in Coral Springs, FL have heard about Fannie Mae and Freddie Mac home loans, but they don’t quite understand how they are involved in the lending process. Fannie Mae and Freddie Mac aren't direct lenders. However, both of these lenders have an impact on how Americans can buy homes. Lenders actually receive funds from Fannie Mae and Freddie Mac. They use these funds to lend buyers the money to buy homes. They then package these loans and sell them to investors. The money made on these loans is used to buy more mortgages. This is the process that enables lenders to have the continual ability to lend money to home buyers. When Fannie Mae and Freddie Mac put money into the mortgage market, they…
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Are You Planning to Buy Your First Home in Coral Springs?

If you’re a first time home buyer and are planning to settle down in Coral Springs, FL, then you’ve made a great choice. Coral Springs is a beautiful community. With one of the lowest crime rates in the US, it is a wonderful place to raise a family. Coral Springs residents are educated and successful people from a variety of backgrounds. Now that you’ve decided where you want to live, you’re ready to start searching for the right home! Looking for a first home is exciting, but it can also be confusing and stressful, especially in today’s uncertain housing and financial markets. Most new home owners these days start their search by looking at real estate listings on the web. There are many sites that can help you get an…
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FHA Loans in South Florida

Recent years show a decline in the housing market, a financial credit crisis and a subsequent tightening of underwriting guidelines, particularly applied to conventional mortgage loans. Those institutions known for sub-prime loans have either disappeared or severely limited their offerings. These realities – coupled with a fluctuating foreclosure rate – may discourage first-time homebuyers and others without the strongest applicant profiles from purchasing or refinancing in the current climate. Not to worry, FHA loans are still widely available to many borrowers who have run out of conventional options. Guaranteed by the US Department of Housing and Urban Development’s Federal Housing Administration, FHA loans provide home ownership pathways to borrowers while affording security to approved lenders. The first thing a prospective borrower notices when considering an FHA mortgage loan is the…
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Florida Mortgage Loans Broken Down.

Purchasing a new home ranks as one of the most nerve wrecking undertakings. It also one of the most satisfying and accomplished purchases people make in their lives. Since the majority of us do not have the kind of capital needed to buy the home of our dreams, we rely on the ability to acquire a home loan that gets us in the home we always desired. Florida’s real estate market always finds a way to boom after it lulls because the state as a whole is an attractive place to live in general. It is for this reason as well as others that loan companies are able to offer loans with reduced interest rates and a variety of different loan structures that can help make the acquisition of a…
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Loans Coral Springs FL: Home Sales in Florida are More Solid Then You May Think.

The home sales market is strong contrary to popular belief. According to the National Association of Realtors, and the real estate trade groups, thirty two percent of home sales were made by first time home buyers. Additionally thirty three percent of home sales were made with cash or no mortgage, and thirty percent of home sales were on foreclosed homes or short sale homes. If this wasn’t intriguing enough, it is reported that over four and a half million homes were sold in February on an annualized seasonally adjusted basis. This report signifies a nine percent rise compared to the prior year.     With only a little under two and a half million homes for sale in the nation, which in itself is a nineteen percent drop from last…

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