Obtaining a Bankruptcy / Bad Credit - Mortgage Loan

Bankruptcy News - Bankruptcy News Headlines | Bizjournals.com Economic View:Bankruptcies headlines from the week of June 30, 2008 Yung to resign from Tropicana board Columbia Sussex's Bill Yung is resigning from the board of Tropicana Entertainment LLC, to resolve a dispute involving the casino operator's Chapter 11 bankruptcy case. Leadville Superfund case settled A settlement was filed in Denver's federal district court Wednesday over environmental damage in an 18-square-mile area in and around Leadville, which was mined for 150 years. (NEM) Fhima files for Chap. 11; restaurants stay open Minneapolis restuarateur David Fhima has filed for Chapter 11 bankruptcy protection. Creditors force Ply Mart into bankruptcy Three major creditors of Ply-Marts Inc., one of metro Atlanta's top lumber suppliers, have filed a petition to force the company into involuntary bankruptcy over some $1.2 million in debt. (BAC) Newsfeed display by CaRP

Mortgage after Bankruptcy - Bankruptcy Discharged Yesterday?   Purchase a Home Today! by:  Lee Seno o you have been through a bankruptcy and surely have been told to wait at least two years before applying for a home loan. Waiting two long years without any guarantee of being approved for a mortgage after bankruptcy can be disheartening. Fortunately, this advice no longer holds true. Today, there is a growing realization of the need to offer home loan products that are specifically designed for borrowers with an imperfect credit or financial history. Mortgage programs have been created especially for borrowers who have gone through a bankruptcy. In fact, those with a bankruptcy discharged for even one day may apply for a home loan. That's right, if your bankruptcy was discharged yesterday, you can qualify for a mortgage today! Now you are probably thinking that although you are eligible, it will be difficult to qualify. The truth is that qualifying is much easier than you think. The fact that you have been through bankruptcy is not even considered in the evaluation of your credit. Any liens, collections or judgments that appear on your credit report will also not be used in the evaluation of credit and will not need to be paid off. What is important and what will be looked at is your credit score. Now here is the good news: with a middle credit score of 500, you are qualified to purchase a home with a 20% down payment. Having a credit score between 550 and 579 will allow you to borrow up to 95% of the purchase price and with any score above 580, you are qualified for 100% financing. With the competitive rates that are available on mortgage after bankruptcy programs, you are able to realize the dream of homeownership with a mortgage payment that is affordable and fits easily within your budget. Along with the traditional benefits of owning a home, such as equity building and tax benefits, you will most importantly be rebuilding your credit profile. Additionally, you may also benefit from the current strong housing market and its appreciating home values. So now you know the following: that you can qualify for a home loan today, what the credit requirements for a mortgage are, and that you can rebuild your credit and financial life through homeownership. Gone forever are the days of waiting two years and living with the dim prospect of obtaining a mortgage after bankruptcy. You have worked hard to discharge your bankruptcy and have the fresh start that you were looking for. There is empowerment that comes with the knowledge that you can purchase a home today even if your bankruptcy was discharged yesterday. So get qualified for a home loan, start searching for a home and begin packing those boxes! ============================================== Ascenteum Mortgage is THE SOURCE for specialty mortgage products including stated income loans, interest only loans, and mortgages after bankruptcy. For additional information, visit Ascenteum Mortgage => Mortgage after Bankruptcy   About the Author Lee Seno is Director of Consumer Education for Ascenteum Mortgage www.ascenteum.com.     This information is being brought to you by Teri Taylor.  For more information on real estate, please call Teri Taylor with Keller Williams - Elite at 972-381-6066 for a free consultation. If you are in the real estate market, let Teri Taylor help you find what you are looking for.  Whether you are looking for log homes, modular homes, house plans, books on homes, or a local home depot. Teri Taylor can find you homes for sale, manufactured homes, a white house, or a blue house. She is an expert with the mls and often can work from home. Whether you need homes for sale, manufactured homes, home plans, houses, homes or a house for sale by owner, or a mortgage calculator, she can help. She will show you houses, homes, houses for sale and can direct you to the resources needed for home decor, home decorating, home theater, home improvement, houses for rent, business for sale, a gingerbread house, directions to the Home Depot, as well as land for sale or home plans.  As a realtor member of the multiple listing service she has access to REALTORS®, mls listing, real estate listings, home builders, commercial real estate, and new homes. Whether you are looking to buy for yourself or are interested in real estate investing, homes for sale by owner, or just real estate for sale,  Teri Taylor is the REALTOR® for you. As a member of the National Association of REALTORS®, Teri Taylor is your full service REALTOR®. She enjoys excellent relations with lenders, appraisers, inspectors, title companies, and all other people involved with buying and selling real estate. Whether it is information on mortgages, lenders, appraisers, inspectors, or title companies, Teri Taylor can get you started in the right direction.  If she is unable to help you personally, rest assured she can refer you to a local professional in your area that will be able to fulfill your needs. If you just need information on the buying process or selling of a property or home, Teri Taylor is the REALTOR® for you.   Her motto is "Real Estate Services Taylor"ed" for You."

WSJ.com: Real Estate Real Estate Sweden Sells Property Firm Sweden sold property firm Vasakronan to Fastigheter for $6.88 billion, continuing its privatization drive. The Home Insulation Conundrum Fiberglass or foam spray? Figuring out what kind of insulation to use in a new house turns out to be a complicated calculation. Buying a Sense of Security for the Home How would different security companies configure a home with a system, and what would they charge to alert the police about triggered motion sensors? Here's a look at ADT, Brink's, Monitronics and Protection One. With Energy Rights, Money Trumps All Financial opportunity is outweighing environmental issues for property owners swept up in a land grab by energy companies targeting gas reserves. Rights for deep drilling are fetching as much as $2,500 an acre, or more. Finding Foreclosures, Screening Deadbeats June Fletcher offers her take on two recently launched sites: RentBureau.com, which helps landlords screen tenants and ForeclosurePoint.com, a listing service. IndyMac Works With U.S. Regulators IndyMac is working with U.S. regulators on a plan to shore up the company's "safety and soundness." Banks Are Freezing Lines of Credit As lenders recoil from falling home prices and mortgage defaults, many have been reeling in credit lines or freezing them. If your home-equity line of credit has been frozen, and you need access to the funds, here are some tips. Florida Files Countrywide Lawsuit Florida filed a lawsuit against Countrywide and its chief executive, alleging the mortgage company engaged in deceptive and unfair trade practices. (Complaint) Newsfeed display by CaRP

Tips and Tricks

Prepare Your Home to Sell Landscaping / Curb Appeal Is your landscaping average in the neighborhood? If not, then purchasing a few bushes and ground covers will certainly help. Do not suffer by planting trees. Mature trees are expensive, and you will not have time to enjoy them. Also, smaller trees do not really add much to the "curb appeal" of your home. If you have a nice spot for flowers, get mature colorful flowers and plant them. They add a splash of pizzazz by showing warm appeal and color, creating an immediate favorable first impression. Smaller seeded plants or bulbs are not recommended at this point either. Your lawn should be manicured, well watered, and free of those ugly brown spots. Any problems with the lawn should probably be taken care of them before working on the inside of your home. This is because certain areas may not take the sod, and you want to give it a chance to grow so that re-sod areas are not immediately apparent. Always rake up loose leaves and grass cuttings.     Uncluttering the clutter This is probably the most difficult thing for most people to do because they are emotionally attached to just about every possession in their house. After living in the same home for years, clutter accumulates in ways the homeowner may not even realize. However, buyers do see this in your home, even if you do not realize it! Clutter collects on shelves, counter tops, drawers, closets, garages, attics, and basements. You want to give the appearance of creating as much open space as possible, so even extra little things needs to be removed if possible. Let friends or family members help point out areas of clutter, as long as you can accept their constructive criticism! If possible let your agent or representative help you and try to put yourself in the buyers shoes when doing a "clutter assessment". Clutter in the kitchen Start removing clutter from the kitchen, because it is an easy place to get started. First, remove everything off the counters. Every single item. Even the coffee maker. Put the coffee maker in a cabinet and take it out when you need it. Find a storage place where you can put everything in cabinets and drawers for retrieval later. Notice that you do not have cabinet space to put everything! Clean them out. Put dishes, pots and pans that rarely get used in a box and don not forget to put the box in storage. Homebuyers are known to open all your cabinets and drawers, especially in the kitchen. They need to know their stuff is going to able to fit. Kitchen cabinets, pantries, and drawers that look crammed, sends a message to the buyer that plentiful storage space is lacking and leaves mental impression in their minds. The most effective method is to have as much empty space as possible! In particular, if you have a junk drawer, get rid of the junk! If you have a rarely used ice tea maker, put it in away. Do an inventory on every cabinet and drawer. Create a feeling of open space all around. If you have foodstuffs shoved into the shelves or pantry, start using them; especially canned goods. The last thing you want to do during the moving process is lug around extra canned goods that weigh hundreds of pounds! Under the sink is very important as well. Take all efforts to ensure the area beneath the sink is as empty as possible, removing all unnecessary cleaning articles. You should scrub these areas thoroughly, and determine if there are any signs of water leaks or damage. You don not want to cause a homebuyer to hesitate in buying your home due to a small overlooked item.

 

This website IS NOT the official website of Keller Williams Realty Inc.
All information provided is deemed reliable but is not guaranteed and should be independently verified.

Referrals and recommendations on the teritaylor.com and toonstones.com web sites
do not constitute any responsibility of endorsement, or any liability to
teritaylor.com or toonstones.com, or to the teritaylor.com
and toonstones.com owners or staff.

© 2005 toonstones.com