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Posts Tagged ‘Mortgages’

How to Avoid Unsoliciated Mortgage Calls

This article will address some items that you, the general public, may not be aware of. When you apply for a mortgage loan with any lender, your information may be getting sold. And not by the lender you applied with either!

Here’s the nightmare scenario…

Let’s say you apply for a mortgage loan in Charlotte. During the application process your credit report is requested from the 3 major credit bureaus. This is normal and so far so good. But what happens next is what gets scary for you…

Since a mortgage lender has pulled your credit, your information can now be sold to other mortgage companies nationwide as a “trigger lead.” A trigger lead is a lead that is sold when someone is actively seeking credit. When the report is pulled, it “triggers” that you are looking. The credit bureaus then sell your information to multiple lenders across the country, all geared to call you and pitch their offer to you. This can become a telemarketing nightmare!

Sure, you may want to compare lenders, rates and programs. But do you want 20 unsolicited phone calls from various lenders across the country?

So how do you stop this from happening? Actually, it’s fairly easy! But you need to be proactive.

Before calling a lender, do this:

1. Visit OptOutPreScreen.com. This is the official website for all 3 credit bureaus to request them NOT to sell your information for what they call “prescreened offers.” You can opt in, opt out for 5 years and opt out permanently.
2. Visit DoNotCall.gov. This is the official National Do Not Call Registry which instructs telemarketers that they are NOT permitted to call your phone for unsolicited purposes. In other words, if you did not ask them to call, they can’t call. If they do they face possible fines up to $11,000.

The beauty of these two sites is that by Opting Out of “prescreened” offers, you should not be sold to other lenders. But if by chance it gets through, 99% of the lead sources will compare your number to the Do Not Call list and if your number is there, they “scrub” your name off the list.

There is one added benefit… your home mail box will get less junk mail as a result!

Why Charlotte NC is The Place to Buy Your First Home

Are you tired of renting? Every month you write that check for $600, $750 or over $1,000 for your rent and you have to wonder… how much home could you buy in Charlotte?

If you are thinking about buying your first home, Charlotte NC is the best bet around!

Charlotte’s real estate market is great! There is a great selection of homes available to purchase and despite the national news of falling home values, Charlotte boasts one of the few growing real estate markets in the country. So the investment you make today won’t disappear tomorrow!

Mortgage rates in Charlotte are cheap! While the entire country is still seeing great mortgage rates, Charlotte is really reaping the benefits! In addition to people buying their first home today, many Charlotte home owners are also refinancing their current mortgage. When you see mortgage refinances up, you know mortgage rates are low! And right now, you can enjoy super low mortgage rates in Charlotte.

Despite the news that it’s harder to get a mortgage today, there are still many Charlotte mortgage financing options. First time home buyers are finding it a little more tricky today, but with the right guideance and advice (from the right Charlotte loan officer of course), Charlotte home buyers can find the right mortgage product to help them get approved! FHA and VA mortgages for Charlotte are just a few of the many options available today.

So if you are still renting, you need to consider buying your first home in the Charlotte area. With a solid real estate market, great selection of homes for sale in Charlotte, super low Charlotte mortgage rates and mortgage programs designed to help first time home buyers, now is your time to buy!

Fixed Rate Mortgages Better Than ARM

Charlotte Home Owners… Do you currently have an Adjustable Rate Mortgage (ARM)?  Today’s fixed rate mortgage loan may be a better option. Refinancing your old adjustable rate mortgage to a low fixed rate Charlotte mortgage could make more sense than you realize!

Yesterday’s ARM mortgage rates were unbeliveably low attarcting many home buyers and home owners decided to go with an adjustable rate mortgage to capitalize on the savings. But now many of those ARMs are getting ready to reset. It’s time to explore options.

Today’s fixed mortgage rates in Charlotte are still near historic lows. As a matter of fact, they are so close to ARM mortgage rates that it just makes more sense to go with a fixed rate. And as Charlotte mortgage rates begin to rise over the coming months, waiting could cost you a lot of money later.

If you live in the Charlotte area and currently have an ARM mortgage, now is the time to check out your options. Call today and find out how much you can save by refinancing your mortgage loan to a low Charlotte fixed rate mortgage.

Federal Government Providing DownPayments?

With the Economic Stimulus Package checks being mailed out, many potential home buyers may be getting the down payment they needed to buy a home! And if you ask me, you can’t find a better use for the money!

The checks being sent out can be quite large. Most people will get $600, with married couples getting $1,200. Each dependent child will get $300 more. So the average family of 4 can stand to get a check for $1,800! A family of 5 will see a check of $2,100!

This can go a long way towards buying a home. On a $100,000 started home, a 3% down payment is only $3,000. With $1,800 coming from the government, you only need $1,200 in cash to buy your home! And with the check coming from the US Dept of Treasury, you won’t have to worry about “seasoning” the funds. (Seasoned funds are funds that you have had for at least 60 days.)

So when you are thinking about what to do with that big check from Uncle Sam, seriously consider putting it somewhere that will make a real difference in your family’s life… A home of your own.

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USDA Mortgages Can Include Repairs

If you are considering buying a home using the USDA program, there is a great feature that may help you. USDA mortgage loans for the Charlotte outlying areas will allow you to include additional funds over 100% financing to allow for repairs to a home. This is especially helpful when buying a foreclosed home that needs a little TLC.

This can vary based on the investor that will originate the USDA loan, but for the most part funds for repairs can be added to the loan, to a max of 10% of the loan amount (no more than $10,000). The repairs can not affect livablility or safety of the home.

For example, a home priced at $120,000, the max you could use would be $10,000. That money is placed in escrow with the closing attorney to be paid out once the work is complete.

There are a couple other points to consider.

The repair escrow does also require an additional 50% deposit to cover any potential cost overruns. This can not be added to the loan, but can be contributed by ANY party. In other words, if the repairs will cost $10,000, the lender will hold $10,000 in escrow and also require an additional $5,000 (50% of the $10,000) to be placed in the account as well.) That $5000 can be money you deposit, the seller is willing to deposit, or whomever. If that extra money is not used, the extra is refunded to the contributing party. However, if the actual costs runs under the $10,000 estimate that was escrowed, you as the buyer can not get that extra money back as cash. It should be credited back to the outstanding mortgage balance.

The repairs must be done by a licensed contractor and can not be done by you. The contractor will submit an itemized bid stating what it will costs and when they would have it done. Must be completed within 30 days of closing and may be extended if due to weather.

There is usually a small fee to the lender to administer, and there may be a cost from the closing attorney to manage the escrow.

Bottom line: Getting additional funds to improve the property you are buying using the USDA mortgage loan can be done, but it does require a few hoops to deal with. But with no money down, you can not beat this mortgage loan period!

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“Fire Sale” for Charlotte Firefighters

That’s right! Firefighters in Charlotte can buy a home for HALF OFF! Using the Charlotte Good Neighbor Next Door program for Firefighters, any full time Firefighter (or EMT) can buy a HUD home for 50% off the list price! And with our Firefighter Mortgage Loans, Charlotte Firefighters can save big time!

You risk your life to save and protect our community. While we can’t repay what we really owe you, the Firefighter Half Price Home program can certainly help! As a full time firefighter in Charlotte, you could qualify to purchase a HUD home for only half price and get 100% mortgage financing with only $100 down!

These special program homes are HUD foreclosed properties located within HUD’s designated “revitalization” areas. As you can see by the map (red areas) this is just about anywhere in Charlotte! Every week a new list of these homes become available for only 5 days! Using a HUD approved Realtor, you can make an offer on these homes and purchase them for only 50% of the home’s list price.

Here’s an example. A HUD home is listed at $170,000 and if offered for only 5 days through this program. A qualified Charlotte Firefighter can buy this home for only $85,000! While you must live in the home for at least 36 months, the equity you get when you eventually sell is yours to keep! That’s a nice payday!

So how do you get started?

First, you need to get pre-approved for a Charlotte mortgage loan. Our special Charlotte Firefighter Mortgage Loans will put you in position to make an offer on these special homes when they become available. Since there is only 5 days to make your offer, having the mortgage pre-approval out of the way puts you way ahead of the pack! Next, you will need a qualified HUD approved real estate agent to make the offer for you. If needed, we can help you find a HUD approved Realtor in Charlotte. Once your offer is accepted, you are on the fast track to closing. Then simply move in and enjoy your great home!

Get started now and take advantage of this awesome program for Charlotte Firefighters.

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Home Buying Program for Charlotte Law Enforcement

Police officers, Sheriff Officers and any Law Enforcement Officer in Charlotte have the unique opportunity to purchase a home for half price! That’s right… Charlotte law enforcement officers can buy a HUD home for 50% off the homes sale price!

HUD offer the Good Neighbor Next Door program to Charlotte’s law enforcement officers to help build and secure the areas they serve and protect. For example, a CharMeck Police Officer could purchase a HUD home worth $140,000 for only $70,000! And using our special mortgage programs for Charlotte police officers, you can get 100% financing with only $100 down!

These special homes are HUD homes listed in Charlotte’s “revitalization” areas (which surprsingly covers most of Charlotte) and are offered through this program for only 5 days before being opened to the general public! To jump on this special home buying program for law enforcement in Charlotte, you must use a qualified Charlotte Realtor. (we can offer a referral if you need it!)

The map below shows the areas these homes are found in. Notice the red colored areas… Most of Charlotte falls into this!

To qualify, you must be employed full time as a law enforcement officer sworn to protect and have the ability to make arrests for violations of laws. Additionally, you must be willing to live in the home for 3 years to get the 50% dicsount on the home’s price. (there are a few other details… ask for more info)

So how do you get started?

First, you will want to get pre-approved for your Charlotte Good Neighbor Next Door mortgage loan through Residential Mortgage, a HUD approved mortgage lender. Once approved you will be in the driver’s seat to make an offer on the perfect home when it becomes available. Only HUD approved Realtors can make the offer for you, so we will get you connected with the right real estate agent in Charlotte. Once you have found the right home and have an approved offer, we can close your mortgage loan in just a few weeks!

This is a unique program that offers Charlotte’s Finest the opportunity to own a part of the city they serve, and rewards them for it! Just imagine doubling your money on a home in such a short time!

So what are you waiting for? Get approved now and let’s get you connected with a HUD approved Realtor to find your Half Priced Home in Charlotte!

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Charlotte Teachers Buy Homes at 50% Off!

Teachers looking to buy a home in Charlotte have a great opportunity before them! Using the Good Neighbor Next Door program, and working with a qualified real estate agent (ask for a referral) teachers have the opportunity to pick up select HUD homes for half of the listing price!

For example, HUD lists a home for $150,000. Using this program, a Charlotte-Mecklenburg teacher can purchase that home for $75,000. After living in the home for 36 months as a primary residence, you can sell the home and make an instant $75,000! Add to that the appreciation value and you can make out big!

So what’s the catch?

There are a few things you need to be aware of. First, this must be a HUD home in an area designated as a “revitalization area.” Don’t worry… most of Charlotte and Mecklenburg county is designated as a “revitalization area!”  (see red colored area of map)  Second, it has to be a home that HUD is offering as a GNND home. These homes are posted once a week and only open for this program for 5 days! Third, you must occupy the home as a primary residence and actually live there! Fourth, you must live there for 3 years or pay back the other 50% you were discounted. And finally, you must use a qualified Realtor in Charlotte to make the offer.

Imagine buying a home for half price, needing only $100 down and getting great low mortgage rates in Charlotte! This is a great program for Charlotte school teachers to take full advantage of!

So how do you start?

First, you need to get pre-approved for your Charlotte Good Neighbor Next Door mortgage. Since the window of opportunity to snag these home is limited to 5 days, you will want to make sure you can qualify to buy one of these homes. Once you are qualified, we can connect you with a HUD approved Realtor to help you find the perfect home for half price! From there, the Realtor and I will work together to get your home purchase and mortgage loan closed quickly. Then move on in!

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Broken ARM? The Doctor is In!

If you are currently suffering from a broken ARM (adjustable rate mortgage), or if your ARM is threatening to break, you need to call the ARM Doctor now!

As your mortgage’s primary care specialist, I will help you diagnose the problems that your mortgage ARM is causing, or may cause in the near future. I can offer suggestions on how to correct the problem, including refinancing your adjustable rate mortgage into a low fixed rate mortgage.

Homeowners all over North and South Carolina, including Charlotte, Matthew, Concord, Gastonia, Huntersville, Rock Hill and beyond are saving money now with great low mortgage rates and fixed mortgage terms.

With amazing products like the FHA refinance mortgage that allows up to 95% cash out, you can save hundreds of dollars each month! Lower your payments, pay off debt (debt consolidation) and secure your best mortgage rate today!

Call me now and let me examine your mortgage situation. Even if you are not strapped with a broken ARM, a free mortgage consultation can let you know if your mortgage is in perfect health, or if you can get a better mortgage.

In Charlotte, call 877-411-9327. As a matter of fact, you can call that same number from anywhere in the Carolinas! Or apply online to refinance your mortgage for a better mortgage.

Campaign to Fix your ARM

Both North and South Carolina have a tremendous number of ARMS that need fixing. Today I am launching a campaign to Fix your ARM! (adjustable rate mortgages)

- No longer must you live with a broken mortgage program that threatens your home’s security!

- No longer must you worry about what mortgage interest rates do… it won’t matter to you!

- No longer will the news of foreclosures scare you!

- No longer will you worry about your struggling budget and personal economy!

As your Charlotte mortgage lender, I will stive to Fix your ARM! I will work diligently to refinance your adjustable rate mortgage into a fixed rate mortgage with no surprises! I will not rest until your mortgage refinance saves you money and saves your personal economy! I will press on in Charlotte, Gastonia, Monroe, Matthews, Cornelius, Lake Norman, Huntersville, Concord and all of North Carolina and all of South Carolina until I have helped every single home owner I can refinance out of that adjustable rate mortgage they are struggling with!

I will work hard to bring you a lower mortgage rate. I will work with blood, sweat and even tears (yes, tears!) to lower your monthly mortgage payments! If you are in need to refinance your mortgage in Charlotte, or anywhere in North and South Carolina, I am here to be your mortgage lender!

I will not run a campaign based on negative smear campaigns, but I will speak the truth! I will find hope for you and help you overcome the financial challenges your adjustable rate mortgage payment has burdened you with! No, I am not able to walk on water, but I do one hell of a job in getting you a better, lower, cheaper mortgage in Charlotte!

So be sure to Vote Now! Cast your vote and apply to refinance your mortgages in NC and SC now!